FORA Capital LLC Invests $8.15 Million in Diamondback Energy, Inc. (NASDAQ:FANG)

FORA Capital LLC acquired a new position in shares of Diamondback Energy, Inc. (NASDAQ:FANG - Free Report) during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 41,114 shares of the oil and natural gas company's stock, valued at approximately $8,148,000.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Wellington Management Group LLP increased its stake in shares of Diamondback Energy by 4.8% during the 3rd quarter. Wellington Management Group LLP now owns 14,266,640 shares of the oil and natural gas company's stock worth $2,209,617,000 after purchasing an additional 648,317 shares during the last quarter. Raymond James & Associates lifted its stake in Diamondback Energy by 143.0% in the fourth quarter. Raymond James & Associates now owns 981,284 shares of the oil and natural gas company's stock worth $152,177,000 after purchasing an additional 577,514 shares during the last quarter. Raymond James Financial Services Advisors Inc. lifted its stake in Diamondback Energy by 286.1% in the fourth quarter. Raymond James Financial Services Advisors Inc. now owns 595,694 shares of the oil and natural gas company's stock worth $92,380,000 after purchasing an additional 441,411 shares during the last quarter. International Assets Investment Management LLC lifted its stake in Diamondback Energy by 16,215.2% in the fourth quarter. International Assets Investment Management LLC now owns 266,264 shares of the oil and natural gas company's stock worth $41,292,000 after purchasing an additional 264,632 shares during the last quarter. Finally, Assetmark Inc. lifted its stake in Diamondback Energy by 24,371.5% in the fourth quarter. Assetmark Inc. now owns 199,932 shares of the oil and natural gas company's stock worth $31,005,000 after purchasing an additional 199,115 shares during the last quarter. Institutional investors own 90.01% of the company's stock.

Diamondback Energy Stock Down 0.1 %

Shares of NASDAQ:FANG traded down $0.18 during trading hours on Monday, hitting $203.35. The company's stock had a trading volume of 774,786 shares, compared to its average volume of 1,621,293. Diamondback Energy, Inc. has a 52 week low of $132.21 and a 52 week high of $211.96. The company has a debt-to-equity ratio of 0.37, a current ratio of 0.92 and a quick ratio of 0.89. The company has a market capitalization of $36.27 billion, a price-to-earnings ratio of 11.46, a P/E/G ratio of 1.10 and a beta of 1.90. The firm's fifty day moving average price is $196.74 and its 200 day moving average price is $183.50.

Diamondback Energy (NASDAQ:FANG - Get Free Report) last posted its quarterly earnings data on Tuesday, April 30th. The oil and natural gas company reported $4.50 EPS for the quarter, topping the consensus estimate of $4.29 by $0.21. Diamondback Energy had a net margin of 36.71% and a return on equity of 19.36%. The firm had revenue of $2.23 billion during the quarter, compared to analyst estimates of $2.10 billion. During the same quarter in the previous year, the business posted $4.10 EPS. Diamondback Energy's revenue was up 15.7% on a year-over-year basis. As a group, research analysts expect that Diamondback Energy, Inc. will post 19.06 EPS for the current year.

Diamondback Energy Cuts Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, May 22nd. Shareholders of record on Wednesday, May 15th were issued a dividend of $0.90 per share. This represents a $3.60 annualized dividend and a yield of 1.77%. The ex-dividend date was Tuesday, May 14th. Diamondback Energy's payout ratio is 20.29%.

Analysts Set New Price Targets

Several equities analysts recently issued reports on FANG shares. KeyCorp initiated coverage on shares of Diamondback Energy in a research report on Thursday, June 27th. They set an "overweight" rating and a $225.00 price target on the stock. Benchmark restated a "buy" rating and set a $154.00 price objective on shares of Diamondback Energy in a research report on Thursday, June 20th. Piper Sandler raised their price objective on shares of Diamondback Energy from $227.00 to $247.00 and gave the company an "overweight" rating in a research report on Friday, April 19th. Barclays assumed coverage on shares of Diamondback Energy in a research report on Wednesday, April 10th. They set an "equal weight" rating and a $214.00 price objective on the stock. Finally, StockNews.com downgraded shares of Diamondback Energy from a "buy" rating to a "hold" rating in a report on Saturday. One investment analyst has rated the stock with a sell rating, five have given a hold rating, fourteen have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, Diamondback Energy presently has a consensus rating of "Moderate Buy" and a consensus target price of $209.35.

Insider Buying and Selling at Diamondback Energy

In other news, VP Jere W. Thompson III sold 900 shares of the stock in a transaction dated Friday, May 3rd. The shares were 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 directly owns 7,585 shares in the company, valued at $1,516,241.50. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other Diamondback Energy news, VP Jere W. Thompson III sold 900 shares of the stock in a transaction dated Friday, May 3rd. The shares were sold at an average price of $199.90, for a total transaction of $179,910.00. Following the completion of the transaction, 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 SEC, which is available at this link. Also, COO Daniel N. Wesson sold 6,000 shares of the firm's stock in a transaction that occurred on Tuesday, May 28th. The shares were sold at an average price of $197.14, for a total transaction of $1,182,840.00. Following the completion of the transaction, the chief operating officer now directly owns 69,677 shares of the company's stock, valued at approximately $13,736,123.78. The disclosure for this sale can be found here. Insiders own 0.48% of the company's stock.

About Diamondback Energy

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.

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