4,188 Shares in Diamondback Energy, Inc. $FANG Bought by Gallacher Capital Management LLC

Gallacher Capital Management LLC bought a new position in shares of Diamondback Energy, Inc. (NASDAQ:FANG) during the 1st quarter, Holdings Channel.com reports. The firm bought 4,188 shares of the oil and natural gas company’s stock, valued at approximately $828,000.

Other institutional investors also recently bought and sold shares of the company. Cresset Asset Management LLC raised its stake in shares of Diamondback Energy by 37.5% in the 2nd quarter. Cresset Asset Management LLC now owns 4,726 shares of the oil and natural gas company’s stock valued at $649,000 after acquiring an additional 1,288 shares in the last quarter. Jump Financial LLC acquired a new stake in Diamondback Energy in the 2nd quarter worth approximately $2,301,000. Cerity Partners LLC boosted its position in Diamondback Energy by 13.5% during the second quarter. Cerity Partners LLC now owns 51,104 shares of the oil and natural gas company’s stock worth $7,022,000 after purchasing an additional 6,069 shares during the period. AXA S.A. boosted its position in Diamondback Energy by 8.5% during the second quarter. AXA S.A. now owns 52,355 shares of the oil and natural gas company’s stock worth $7,194,000 after purchasing an additional 4,103 shares during the period. Finally, Sei Investments Co. grew its holdings in Diamondback Energy by 37.1% during the second quarter. Sei Investments Co. now owns 154,582 shares of the oil and natural gas company’s stock valued at $21,239,000 after purchasing an additional 41,866 shares during the last quarter. 90.01% of the stock is currently owned by institutional investors.

Diamondback Energy Trading Up 0.2%

Shares of Diamondback Energy stock opened at $190.13 on Friday. The company’s fifty day simple moving average is $191.10 and its 200-day simple moving average is $180.67. The company has a market cap of $53.49 billion, a price-to-earnings ratio of 221.08 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, Inc. has a 1 year low of $134.30 and a 1 year high of $214.51.

Diamondback Energy (NASDAQ:FANG) last released its earnings results on Monday, May 4th. The oil and natural gas company reported $4.23 EPS for the quarter, beating the consensus estimate of $3.74 by $0.49. The firm 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% compared to the same quarter last year. During the same period in the prior year, the company earned $4.54 EPS. As a group, sell-side analysts expect that Diamondback Energy, Inc. will post 19.21 EPS for the current year.

Diamondback Energy Increases Dividend

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

Insider Activity at Diamondback Energy

In related news, Director Mark Lawrence Plaumann sold 500 shares of Diamondback Energy stock in a transaction dated Tuesday, June 9th. The stock was sold at an average price of $196.50, for a total transaction of $98,250.00. Following the sale, the director directly owned 13,437 shares of the company’s stock, valued at $2,640,370.50. This trade represents a 3.59% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Matt Zmigrosky sold 5,000 shares of Diamondback Energy stock in a transaction dated Monday, June 1st. The stock was sold at an average price of $200.54, for a total value of $1,002,700.00. Following the sale, the executive vice president directly owned 46,392 shares in the company, valued at approximately $9,303,451.68. This trade represents a 9.73% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last quarter, insiders have sold 113,691 shares of company stock worth $21,622,752. 0.64% of the stock is owned by company insiders.

Analysts Set New Price Targets

A number of equities analysts have recently commented on FANG shares. Zacks Research lowered shares of Diamondback Energy from a “strong-buy” rating to a “hold” rating in a research report on Thursday, May 28th. Wells Fargo & Company set a $212.00 target price on shares of Diamondback Energy in a research note on Monday, June 22nd. Morgan Stanley lowered their target price on shares of Diamondback Energy from $229.00 to $216.00 and set an “overweight” rating on the stock in a research note on Monday, June 29th. Sanford C. Bernstein boosted their target price 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. Finally, Barclays upped their price target on shares of Diamondback Energy from $225.00 to $232.00 and gave the company an “overweight” rating in a report on Tuesday, May 26th. Four equities research analysts have rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating and four have issued a Hold rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Buy” and a consensus price target of $219.53.

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.