Simplicity Solutions LLC Purchases 75 Shares of Diamondback Energy, Inc. (NASDAQ:FANG)

Simplicity Solutions LLC boosted its position in Diamondback Energy, Inc. (NASDAQ:FANG) by 2.5% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 3,115 shares of the oil and natural gas company’s stock after acquiring an additional 75 shares during the quarter. Simplicity Solutions LLC’s holdings in Diamondback Energy were worth $483,000 at the end of the most recent reporting period.

A number of other hedge funds have also added to or reduced their stakes in FANG. BKM Wealth Management LLC bought a new stake in shares of Diamondback Energy during the fourth quarter worth $27,000. BluePath Capital Management LLC bought a new stake in shares of Diamondback Energy during the third quarter worth $28,000. Householder Group Estate & Retirement Specialist LLC bought a new stake in shares of Diamondback Energy during the third quarter worth $32,000. FinTrust Capital Advisors LLC grew its stake in shares of Diamondback Energy by 232.8% during the fourth quarter. FinTrust Capital Advisors LLC now owns 213 shares of the oil and natural gas company’s stock worth $29,000 after buying an additional 149 shares during the last quarter. Finally, Turtle Creek Wealth Advisors LLC bought a new stake in shares of Diamondback Energy during the fourth quarter worth $34,000. 90.01% of the stock is owned by institutional investors.

Diamondback Energy Price Performance

Shares of NASDAQ FANG opened at $199.60 on Friday. The firm’s 50-day moving average price is $188.92 and its 200-day moving average price is $167.21. Diamondback Energy, Inc. has a 1-year low of $123.41 and a 1-year high of $211.96. The firm has a market capitalization of $35.60 billion, a P/E ratio of 11.51 and a beta of 1.93. The company has a current ratio of 0.77, a quick ratio of 0.74 and a debt-to-equity ratio of 0.38.

Diamondback Energy (NASDAQ:FANG) last announced its quarterly earnings data on Tuesday, February 20th. The oil and natural gas company reported $4.74 earnings per share for the quarter, beating the consensus estimate of $4.61 by $0.13. Diamondback Energy had a net margin of 37.36% and a return on equity of 19.56%. The firm had revenue of $2.23 billion for the quarter, compared to analyst estimates of $2.16 billion. During the same quarter in the prior year, the business earned $5.29 earnings per share. The business’s quarterly revenue was up 9.8% compared to the same quarter last year. Equities research analysts anticipate that Diamondback Energy, Inc. will post 18.52 earnings per share for the current fiscal year.

Diamondback Energy Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, March 12th. Stockholders of record on Tuesday, March 5th were issued a $3.08 dividend. This represents a $12.32 dividend on an annualized basis and a dividend yield of 6.17%. The ex-dividend date was Monday, March 4th. This is a positive change from Diamondback Energy’s previous quarterly dividend of $0.84. Diamondback Energy’s dividend payout ratio (DPR) is currently 20.76%.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on FANG shares. Morgan Stanley reduced their price objective on shares of Diamondback Energy from $186.00 to $184.00 and set an “overweight” rating on the stock in a research note on Monday. Truist Financial reduced their price objective on shares of Diamondback Energy from $250.00 to $248.00 and set a “buy” rating on the stock in a research note on Friday, April 5th. Royal Bank of Canada reissued an “outperform” rating and issued a $195.00 price objective on shares of Diamondback Energy in a research note on Monday, March 4th. KeyCorp boosted their price objective on shares of Diamondback Energy from $186.00 to $210.00 and gave the stock an “overweight” rating in a research note on Thursday, March 21st. Finally, Stifel Nicolaus boosted their price objective on shares of Diamondback Energy from $192.00 to $224.00 and gave the stock a “buy” rating in a research note on Friday, March 22nd. One investment analyst has rated the stock with a sell rating, five have given a hold rating, fourteen have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $195.95.

Insider Activity

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 stock was 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, CFO Hof Matthew Kaes Van’t sold 12,000 shares of the firm’s stock in a transaction that occurred on Wednesday, March 20th. The stock was sold at an average price of $190.82, for a total value of $2,289,840.00. Following the transaction, the chief financial officer now owns 185,882 shares in the company, valued at $35,470,003.24. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Travis D. Stice sold 30,000 shares of the 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 sale, the chief executive officer now directly 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 57,675 shares of company stock worth $11,311,096 over the last 90 days. 0.43% of the stock is currently owned by corporate insiders.

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.