Inspire Investing LLC Has $5.17 Million Holdings in Diamondback Energy, Inc. $FANG

Inspire Investing LLC reduced its stake in shares of Diamondback Energy, Inc. (NASDAQ:FANG) by 11.3% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 26,141 shares of the oil and natural gas company’s stock after selling 3,316 shares during the period. Inspire Investing LLC’s holdings in Diamondback Energy were worth $5,170,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of FANG. Deseret Mutual Benefit Administrators increased its stake in shares of Diamondback Energy by 31.7% in the fourth quarter. Deseret Mutual Benefit Administrators now owns 274 shares of the oil and natural gas company’s stock valued at $41,000 after buying an additional 66 shares during the period. Scotia Capital Inc. raised its position in shares of Diamondback Energy by 0.3% during the third quarter. Scotia Capital Inc. now owns 19,719 shares of the oil and natural gas company’s stock worth $2,822,000 after acquiring an additional 68 shares during the last quarter. Townsend & Associates Inc lifted its stake in shares of Diamondback Energy by 0.5% in the fourth quarter. Townsend & Associates Inc now owns 14,330 shares of the oil and natural gas company’s stock worth $2,161,000 after acquiring an additional 75 shares during the period. 180 Wealth Advisors LLC lifted its stake in shares of Diamondback Energy by 2.9% in the fourth quarter. 180 Wealth Advisors LLC now owns 2,725 shares of the oil and natural gas company’s stock worth $410,000 after acquiring an additional 78 shares during the period. Finally, Fulton Bank N.A. lifted its stake in shares of Diamondback Energy by 1.8% in the fourth quarter. Fulton Bank N.A. now owns 4,400 shares of the oil and natural gas company’s stock worth $661,000 after acquiring an additional 78 shares during the period. 90.01% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of analysts have weighed in on the stock. Susquehanna increased their target price on shares of Diamondback Energy from $231.00 to $245.00 and gave the company a “positive” rating in a research report on Wednesday, May 6th. Barclays boosted their price target on shares of Diamondback Energy from $225.00 to $232.00 and gave the stock an “overweight” rating in a research report on Tuesday, May 26th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Diamondback Energy in a research note on Wednesday, May 27th. Piper Sandler increased their price objective on shares of Diamondback Energy from $215.00 to $248.00 and gave the stock an “overweight” rating in a research report on Thursday, March 12th. Finally, KeyCorp lifted their target price on shares of Diamondback Energy from $196.00 to $225.00 and gave the stock an “overweight” rating in a research note on Thursday, April 2nd. Five research analysts have rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating and four have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Buy” and an average price target of $220.68.

Diamondback Energy Price Performance

Shares of NASDAQ FANG opened at $180.54 on Tuesday. The firm’s 50-day moving average price is $194.63 and its 200-day moving average price is $177.89. Diamondback Energy, Inc. has a 1-year low of $134.30 and a 1-year high of $214.51. The firm has a market capitalization of $50.79 billion, a P/E ratio of 209.93 and a beta of 0.42. The company has a current ratio of 0.56, a quick ratio of 0.55 and a debt-to-equity ratio of 0.31.

Diamondback Energy (NASDAQ:FANG) last released its quarterly earnings data on Monday, May 4th. The oil and natural gas company reported $4.23 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.74 by $0.49. The company had revenue of $4.24 billion for 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 revenue was up 4.7% on a year-over-year basis. During the same quarter in the prior year, the firm earned $4.54 EPS. Equities research analysts anticipate that Diamondback Energy, Inc. will post 19.92 earnings per share for the current fiscal year.

Diamondback Energy Increases Dividend

The company 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 an increase from Diamondback Energy’s previous quarterly dividend of $1.05. This represents a $4.40 annualized dividend and a yield of 2.4%. Diamondback Energy’s dividend payout ratio is currently 511.63%.

Insider Transactions at Diamondback Energy

In other Diamondback Energy news, EVP Matt Zmigrosky sold 5,000 shares of the firm’s stock in a transaction that occurred on Wednesday, May 13th. The stock was sold at an average price of $200.10, for a total value of $1,000,500.00. Following the completion of the sale, the executive vice president owned 51,392 shares of the company’s stock, valued at approximately $10,283,539.20. This trade represents a 8.87% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Mark Lawrence Plaumann sold 500 shares of the business’s stock in a transaction that occurred on Tuesday, June 9th. The shares were sold at an average price of $196.50, for a total value of $98,250.00. Following the sale, the director owned 13,437 shares of the company’s stock, valued at approximately $2,640,370.50. This represents a 3.59% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 121,548 shares of company stock worth $23,146,460 in the last three months. Insiders own 0.64% of the company’s stock.

Diamondback Energy Profile

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.