Transform Wealth LLC Has $467,000 Stake in Diamondback Energy, Inc. (NASDAQ:FANG)

Transform Wealth LLC increased its position in Diamondback Energy, Inc. (NASDAQ:FANG) by 4.2% during the first quarter, according to its most recent Form 13F filing with the SEC. The fund owned 2,357 shares of the oil and natural gas company’s stock after buying an additional 95 shares during the period. Transform Wealth LLC’s holdings in Diamondback Energy were worth $467,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Dohj LLC raised its holdings in shares of Diamondback Energy by 8.4% during the 1st quarter. Dohj LLC now owns 3,559 shares of the oil and natural gas company’s stock valued at $705,000 after purchasing an additional 277 shares in the last quarter. Wealth Enhancement Advisory Services LLC lifted its position in shares of Diamondback Energy by 9.7% in the first quarter. Wealth Enhancement Advisory Services LLC now owns 10,980 shares of the oil and natural gas company’s stock worth $2,176,000 after buying an additional 967 shares during the last quarter. Wealthcare Advisory Partners LLC bought a new stake in shares of Diamondback Energy during the 1st quarter worth about $233,000. Future Financial Wealth Managment LLC acquired a new position in shares of Diamondback Energy during the 1st quarter valued at about $99,000. Finally, Security National Bank raised its stake in shares of Diamondback Energy by 2.3% in the 1st quarter. Security National Bank now owns 33,224 shares of the oil and natural gas company’s stock valued at $6,584,000 after acquiring an additional 757 shares in the last quarter. Institutional investors own 90.01% of the company’s stock.

Analyst Upgrades and Downgrades

FANG has been the subject of a number of recent analyst reports. Royal Bank of Canada upped their target price on Diamondback Energy from $195.00 to $220.00 and gave the stock an “outperform” rating in a research report on Monday, May 6th. Wells Fargo & Company cut 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. Benchmark reaffirmed a “buy” rating and issued a $154.00 price target on shares of Diamondback Energy in a research report on Thursday, June 20th. Scotiabank raised their target price on Diamondback Energy from $210.00 to $255.00 and gave the company a “sector outperform” rating in a report on Thursday, April 11th. Finally, Morgan Stanley cut their price target 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 investment analyst has rated the stock with a sell rating, four have given a hold rating, fifteen have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $209.35.

Diamondback Energy Price Performance

Shares of Diamondback Energy stock traded up $2.23 during midday trading on Thursday, hitting $199.19. 1,036,465 shares of the company were exchanged, compared to its average volume of 1,640,407. The firm has a 50 day simple moving average of $196.78 and a 200-day simple moving average of $180.79. 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 $35.52 billion, a P/E ratio of 11.22, a PEG ratio of 1.07 and a beta of 1.90. Diamondback Energy, Inc. has a 52 week low of $125.69 and a 52 week high of $211.96.

Diamondback Energy (NASDAQ:FANG) last issued its quarterly earnings data on Tuesday, April 30th. The oil and natural gas company reported $4.50 earnings per share (EPS) for the quarter, beating 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 during the quarter, compared to analysts’ expectations of $2.10 billion. During the same period last year, the business earned $4.10 earnings per share. The business’s revenue was up 15.7% on a year-over-year basis. Research analysts forecast that Diamondback Energy, Inc. will post 19.06 earnings per share for the current year.

Diamondback Energy Cuts Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, May 22nd. Shareholders of record on Wednesday, May 15th were paid a dividend of $0.90 per share. The ex-dividend date was Tuesday, May 14th. This represents a $3.60 annualized dividend and a yield of 1.81%. Diamondback Energy’s dividend payout ratio is 20.29%.

Insider Transactions at Diamondback Energy

In other Diamondback Energy news, CEO Travis D. Stice sold 30,000 shares of Diamondback Energy stock in a transaction 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 completion of the transaction, the chief executive officer now owns 446,610 shares in the company, valued at approximately $89,322,000. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In other news, VP Jere W. Thompson III sold 900 shares of the company’s stock in a transaction on Friday, May 3rd. The stock was sold at an average price of $199.90, for a total transaction of $179,910.00. Following the transaction, the vice president now owns 7,585 shares of the company’s stock, valued at $1,516,241.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Travis D. Stice sold 30,000 shares of the firm’s stock in a transaction dated 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 completion of the transaction, the chief executive officer now owns 446,610 shares in the company, valued at approximately $89,322,000. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 36,900 shares of company stock valued at $7,362,750. Corporate insiders own 0.48% of the company’s stock.

About Diamondback Energy

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.