Impala Asset Management LLC Purchases Shares of 20,000 Diamondback Energy, Inc. $FANG

Impala Asset Management LLC acquired a new position in shares of Diamondback Energy, Inc. (NASDAQ:FANG) in the fourth quarter, Holdings Channel reports. The institutional investor acquired 20,000 shares of the oil and natural gas company’s stock, valued at approximately $3,007,000. Diamondback Energy comprises about 1.9% of Impala Asset Management LLC’s portfolio, making the stock its 14th biggest position.

Other hedge funds also recently made changes to their positions in the company. Flagship Harbor Advisors LLC bought a new position in shares of Diamondback Energy during the fourth quarter worth about $25,000. Richardson Financial Services Inc. raised its position in shares of Diamondback Energy by 245.1% during the fourth quarter. Richardson Financial Services Inc. now owns 176 shares of the oil and natural gas company’s stock worth $26,000 after acquiring an additional 125 shares during the last quarter. Laurel Wealth Advisors LLC bought a new position in shares of Diamondback Energy during the fourth quarter worth about $26,000. JPL Wealth Management LLC bought a new position in shares of Diamondback Energy during the third quarter worth about $26,000. Finally, Wellington Shields & Co. LLC raised its position in shares of Diamondback Energy by 264.7% during the fourth quarter. Wellington Shields & Co. LLC now owns 186 shares of the oil and natural gas company’s stock worth $28,000 after acquiring an additional 135 shares during the last quarter. 90.01% of the stock is currently owned by institutional investors.

Insider Transactions at Diamondback Energy

In other Diamondback Energy news, CFO Jere W. Thompson III sold 750 shares of the firm’s stock in a transaction on Monday, March 16th. The shares were sold at an average price of $182.47, for a total value of $136,852.50. Following the transaction, the chief financial officer directly owned 19,975 shares of the company’s stock, valued at approximately $3,644,838.25. This trade represents a 3.62% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Charles Alvin Meloy sold 7,857 shares of the firm’s stock in a transaction on Thursday, May 7th. The shares were sold at an average price of $189.20, for a total transaction of $1,486,544.40. Following the completion of the transaction, the director directly owned 942,721 shares in the company, valued at $178,362,813.20. This trade represents a 0.83% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last three months, insiders sold 54,065 shares of company stock valued at $10,551,236. Corporate insiders own 0.64% of the company’s stock.

Wall Street Analyst Weigh In

FANG has been the subject of several recent analyst reports. The Goldman Sachs Group increased their price objective on shares of Diamondback Energy from $187.00 to $212.00 and gave the stock a “buy” rating in a research report on Wednesday, March 11th. Sanford C. Bernstein increased their price objective on shares of Diamondback Energy from $237.00 to $241.00 and gave the stock an “outperform” rating in a research report on Monday, May 11th. Weiss Ratings reiterated a “hold (c)” rating on shares of Diamondback Energy in a research report on Wednesday, May 27th. Freedom Capital upgraded shares of Diamondback Energy to a “strong-buy” rating in a research report on Tuesday, March 10th. Finally, Truist Financial set a $242.00 price objective on shares of Diamondback Energy in a research report on Wednesday, May 6th. Four investment analysts have rated the stock with a Strong Buy rating, sixteen have issued a Buy rating and five have given a Hold rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $223.63.

Diamondback Energy Trading Up 0.3%

NASDAQ:FANG opened at $192.13 on Friday. The company has a current ratio of 0.56, a quick ratio of 0.55 and a debt-to-equity ratio of 0.31. The stock has a market capitalization of $54.05 billion, a price-to-earnings ratio of 223.41 and a beta of 0.42. The firm has a fifty day simple moving average of $195.70 and a two-hundred day simple moving average of $175.36. Diamondback Energy, Inc. has a 12 month low of $134.30 and a 12 month high of $214.51.

Diamondback Energy (NASDAQ:FANG) last posted its quarterly earnings results on Monday, May 4th. The oil and natural gas company reported $4.23 EPS for the quarter, topping analysts’ consensus estimates of $3.74 by $0.49. The business had revenue of $4.24 billion during the quarter, compared to analysts’ expectations of $3.83 billion. Diamondback Energy had a net margin of 1.87% and a return on equity of 7.76%. The business’s quarterly revenue was up 4.7% on a year-over-year basis. During the same period last year, the company posted $4.54 earnings per share. Analysts expect that Diamondback Energy, Inc. will post 19.92 EPS for the current fiscal year.

Diamondback Energy Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, May 21st. Shareholders of record on Thursday, May 14th were issued a $1.10 dividend. The ex-dividend date was Thursday, May 14th. This is a positive change from Diamondback Energy’s previous quarterly dividend of $1.05. This represents a $4.40 dividend on an annualized basis and a yield of 2.3%. Diamondback Energy’s dividend payout ratio is 511.63%.

About Diamondback Energy

Diamondback Energy, Inc (NASDAQ: FANG) is an independent oil and natural gas company focused on the development, exploration and production of unconventional resources in the Permian Basin. Headquartered in Midland, Texas, the company concentrates its operations in the core Midland and Delaware sub?basins of West Texas and southeastern New Mexico, where it pursues contiguous acreage positions to support repeatable drilling programs.

Diamondback’s activities span the upstream value chain, including leasehold acquisition, well planning, drilling, completion and production optimization.