Valley National Advisers Inc. Has $142,000 Stock Position in Diamondback Energy, Inc. (NASDAQ:FANG)

Valley National Advisers Inc. raised its position in Diamondback Energy, Inc. (NASDAQ:FANG) by 25.0% during the first quarter, Holdings Channel.com reports. The institutional investor owned 721 shares of the oil and natural gas company’s stock after purchasing an additional 144 shares during the quarter. Valley National Advisers Inc.’s holdings in Diamondback Energy were worth $142,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. Founders Capital Management raised its holdings in shares of Diamondback Energy by 404.0% in the first quarter. Founders Capital Management now owns 126 shares of the oil and natural gas company’s stock valued at $25,000 after buying an additional 101 shares during the last quarter. BKM Wealth Management LLC acquired a new position in shares of Diamondback Energy during the fourth quarter worth approximately $27,000. Logan Capital Management Inc. bought a new stake in shares of Diamondback Energy during the fourth quarter valued at approximately $31,000. Turtle Creek Wealth Advisors LLC acquired a new position in shares of Diamondback Energy in the fourth quarter valued at approximately $34,000. Finally, CVA Family Office LLC acquired a new stake in shares of Diamondback Energy during the fourth quarter worth $35,000. 90.01% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on FANG. Susquehanna increased their target price on Diamondback Energy from $212.00 to $245.00 and gave the stock a “positive” rating in a report on Monday, April 22nd. Mizuho upped their price target on Diamondback Energy from $217.00 to $222.00 and gave the stock a “buy” rating in a research report on Monday, May 13th. Benchmark reissued a “buy” rating and issued a $154.00 price objective on shares of Diamondback Energy in a research report on Thursday, June 20th. Wells Fargo & Company decreased their target price on shares of Diamondback Energy from $227.00 to $224.00 and set an “overweight” rating for the company in a research report on Thursday, May 2nd. Finally, Morgan Stanley decreased their price objective on Diamondback Energy from $186.00 to $184.00 and set an “overweight” rating for the company in a report on Monday, April 15th. One analyst has rated the stock with a sell rating, four have given a hold rating, fifteen have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $209.35.

Diamondback Energy Stock Performance

Diamondback Energy stock traded up $2.03 during trading hours on Wednesday, hitting $206.93. The company had a trading volume of 741,138 shares, compared to its average volume of 1,634,729. The firm has a 50-day moving average of $196.80 and a 200 day moving average of $182.45. 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 firm has a market cap of $36.90 billion, a PE ratio of 11.66, a PEG ratio of 1.09 and a beta of 1.90. Diamondback Energy, Inc. has a one year low of $125.73 and a one year high of $211.96.

Diamondback Energy (NASDAQ:FANG) last announced its earnings results on Tuesday, April 30th. The oil and natural gas company reported $4.50 earnings per share for the quarter, topping analysts’ consensus estimates of $4.29 by $0.21. Diamondback Energy had a return on equity of 19.36% and a net margin of 36.71%. The company had revenue of $2.23 billion for the quarter, compared to analyst estimates of $2.10 billion. During the same quarter last year, the company earned $4.10 earnings per share. The firm’s quarterly revenue was up 15.7% compared to the same quarter last year. On average, sell-side analysts expect that Diamondback Energy, Inc. will post 19.06 earnings per share for the current year.

Diamondback Energy Cuts Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, May 22nd. Investors of record on Wednesday, May 15th were paid a $0.90 dividend. The ex-dividend date of this dividend was Tuesday, May 14th. This represents a $3.60 annualized dividend and a dividend yield of 1.74%. Diamondback Energy’s dividend payout ratio (DPR) is presently 20.29%.

Insider Buying and Selling

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

Diamondback Energy Company 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.