GAMMA Investing LLC Has $349,000 Stake in Diamondback Energy, Inc. (NASDAQ:FANG)

GAMMA Investing LLC raised its position in Diamondback Energy, Inc. (NASDAQ:FANG) by 18.0% during the first quarter, according to its most recent filing with the SEC. The firm owned 1,759 shares of the oil and natural gas company’s stock after purchasing an additional 268 shares during the period. GAMMA Investing LLC’s holdings in Diamondback Energy were worth $349,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. CWM LLC lifted its position in shares of Diamondback Energy by 1.8% during the 4th quarter. CWM LLC now owns 19,717 shares of the oil and natural gas company’s stock valued at $3,058,000 after acquiring an additional 354 shares during the period. Franklin Resources Inc. lifted its position in shares of Diamondback Energy by 14.1% during the 4th quarter. Franklin Resources Inc. now owns 50,633 shares of the oil and natural gas company’s stock valued at $7,852,000 after acquiring an additional 6,240 shares during the period. Raymond James Trust N.A. lifted its position in shares of Diamondback Energy by 145.2% during the 4th quarter. Raymond James Trust N.A. now owns 11,993 shares of the oil and natural gas company’s stock valued at $1,860,000 after acquiring an additional 7,102 shares during the period. Larson Financial Group LLC lifted its position in shares of Diamondback Energy by 748.0% during the 4th quarter. Larson Financial Group LLC now owns 15,221 shares of the oil and natural gas company’s stock valued at $2,361,000 after acquiring an additional 13,426 shares during the period. Finally, Sequoia Financial Advisors LLC lifted its position in shares of Diamondback Energy by 613.7% during the 4th quarter. Sequoia Financial Advisors LLC now owns 15,401 shares of the oil and natural gas company’s stock valued at $2,388,000 after acquiring an additional 13,243 shares during the period. Institutional investors and hedge funds own 90.01% of the company’s stock.

Analysts Set New Price Targets

FANG has been the subject of a number of recent research reports. Barclays initiated coverage on shares of Diamondback Energy in a research note on Wednesday, April 10th. They set an “equal weight” rating and a $214.00 price target for the company. KeyCorp boosted their price target on shares of Diamondback Energy from $210.00 to $225.00 and gave the company an “overweight” rating in a research note on Monday, April 22nd. Royal Bank of Canada upped their target price on shares of Diamondback Energy from $195.00 to $220.00 and gave the stock an “outperform” rating in a research note on Monday, May 6th. Bank of America reiterated a “neutral” rating and issued a $201.00 target price on shares of Diamondback Energy in a research note on Friday, June 14th. Finally, Scotiabank upped their target price on shares of Diamondback Energy from $210.00 to $255.00 and gave the stock a “sector outperform” rating in a research note on Thursday, April 11th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating, fourteen have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $209.35.

Insider Buying and Selling at Diamondback Energy

In other news, CEO Travis D. Stice sold 30,000 shares of the firm’s stock in a transaction that occurred on Tuesday, April 2nd. The shares were sold at an average price of $200.00, for a total value of $6,000,000.00. Following the transaction, the chief executive officer now owns 446,610 shares in the company, valued at $89,322,000. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, VP Jere W. Thompson III sold 900 shares of the firm’s stock in a transaction on Friday, May 3rd. The stock was sold at an average price of $199.90, for a total value of $179,910.00. Following the completion of the sale, the vice president now owns 7,585 shares of the company’s stock, valued at $1,516,241.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Travis D. Stice sold 30,000 shares of Diamondback Energy stock in a transaction dated Tuesday, April 2nd. The stock was sold at an average price of $200.00, for a total value of $6,000,000.00. Following the completion of the sale, the chief executive officer now owns 446,610 shares of the company’s stock, valued at $89,322,000. The disclosure for this sale can be found here. Insiders have sold 36,900 shares of company stock worth $7,362,750 over the last ninety days. Insiders own 0.48% of the company’s stock.

Diamondback Energy Trading Up 0.7 %

Shares of FANG opened at $188.87 on Thursday. The firm’s 50 day simple moving average is $197.76 and its 200 day simple moving average is $179.18. The company has a market capitalization of $33.68 billion, a P/E ratio of 10.65, a P/E/G ratio of 1.03 and a beta of 1.90. The company has a debt-to-equity ratio of 0.37, a current ratio of 0.92 and a quick ratio of 0.89. Diamondback Energy, Inc. has a 1-year low of $123.41 and a 1-year high of $211.96.

Diamondback Energy (NASDAQ:FANG) last announced its earnings results on Tuesday, April 30th. The oil and natural gas company reported $4.50 earnings per share for the quarter, beating analysts’ consensus estimates of $4.29 by $0.21. The business had revenue of $2.23 billion for the quarter, compared to the consensus estimate of $2.10 billion. Diamondback Energy had a net margin of 36.71% and a return on equity of 19.36%. Diamondback Energy’s quarterly revenue was up 15.7% on a year-over-year basis. During the same period last year, the firm posted $4.10 earnings per share. Sell-side analysts forecast that Diamondback Energy, Inc. will post 19.05 earnings per share for the current fiscal year.

Diamondback Energy Cuts Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, May 22nd. Shareholders of record on Wednesday, May 15th were given a dividend of $0.90 per share. This represents a $3.60 dividend on an annualized basis and a yield of 1.91%. The ex-dividend date of this dividend was Tuesday, May 14th. Diamondback Energy’s payout ratio is currently 20.29%.

Diamondback Energy Profile

Diamondback Energy, Inc, an independent oil and natural gas company, acquires, develops, explores, and exploits unconventional, onshore oil and natural gas reserves in the Permian Basin in West Texas. It focuses on the development of the Spraberry and Wolfcamp formations of the Midland basin; and the Wolfcamp and Bone Spring formations of the Delaware basin, which are part of the Permian Basin in West Texas and New Mexico.