4,417 Shares in Diamondback Energy, Inc. (NASDAQ:FANG) Bought by Mount Yale Investment Advisors LLC

Mount Yale Investment Advisors LLC bought a new position in shares of Diamondback Energy, Inc. (NASDAQ:FANG) during the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor bought 4,417 shares of the oil and natural gas company’s stock, valued at approximately $875,000.

Other institutional investors have also recently bought and sold shares of the company. CWM LLC raised its holdings in Diamondback Energy by 1.8% during the fourth quarter. CWM LLC now owns 19,717 shares of the oil and natural gas company’s stock worth $3,058,000 after buying an additional 354 shares during the last quarter. Franklin Resources Inc. raised its holdings in shares of Diamondback Energy by 14.1% in the fourth quarter. Franklin Resources Inc. now owns 50,633 shares of the oil and natural gas company’s stock valued at $7,852,000 after purchasing an additional 6,240 shares during the last quarter. Larson Financial Group LLC raised its holdings in shares of Diamondback Energy by 748.0% in the fourth quarter. Larson Financial Group LLC now owns 15,221 shares of the oil and natural gas company’s stock valued at $2,361,000 after purchasing an additional 13,426 shares during the last quarter. Sequoia Financial Advisors LLC raised its holdings in shares of Diamondback Energy by 613.7% in the fourth quarter. Sequoia Financial Advisors LLC now owns 15,401 shares of the oil and natural gas company’s stock valued at $2,388,000 after purchasing an additional 13,243 shares during the last quarter. Finally, abrdn plc raised its holdings in shares of Diamondback Energy by 70.9% in the fourth quarter. abrdn plc now owns 75,333 shares of the oil and natural gas company’s stock valued at $11,683,000 after purchasing an additional 31,241 shares during the last quarter. Institutional investors and hedge funds own 90.01% of the company’s stock.

Analyst Ratings Changes

Several analysts have recently commented on the stock. StockNews.com downgraded shares of Diamondback Energy from a “buy” rating to a “hold” rating in a report on Saturday, July 6th. Scotiabank reduced their price target on shares of Diamondback Energy from $255.00 to $245.00 and set a “sector outperform” rating for the company in a research report on Friday, July 12th. Wolfe Research initiated coverage on shares of Diamondback Energy in a research report on Thursday, July 18th. They set a “peer perform” rating for the company. Royal Bank of Canada increased their price target on shares of Diamondback Energy from $195.00 to $220.00 and gave the company an “outperform” rating in a research report on Monday, May 6th. Finally, Stifel Nicolaus increased their price target on shares of Diamondback Energy from $224.00 to $229.00 and gave the company a “buy” rating in a research report on Tuesday, April 23rd. One analyst has rated the stock with a sell rating, six have issued a hold rating, fourteen have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, Diamondback Energy has an average rating of “Moderate Buy” and a consensus price target of $209.65.

Insider Activity at Diamondback Energy

In related news, VP Jere W. Thompson III sold 900 shares of Diamondback Energy stock in a transaction on Friday, May 3rd. The shares were sold at an average price of $199.90, for a total value of $179,910.00. Following the transaction, the vice president now directly 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 SEC, which can be accessed through this link. In related news, COO Daniel N. Wesson sold 6,000 shares of Diamondback Energy stock in a transaction on 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 sale, the chief operating officer now owns 69,677 shares in the company, valued at $13,736,123.78. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, VP Jere W. Thompson III sold 900 shares of Diamondback Energy stock in a transaction on Friday, May 3rd. The shares were sold at an average price of $199.90, for a total transaction of $179,910.00. Following the completion of the sale, the vice president now owns 7,585 shares in the company, valued at approximately $1,516,241.50. The disclosure for this sale can be found here. 0.48% of the stock is currently owned by insiders.

Diamondback Energy Price Performance

FANG traded up $1.68 on Tuesday, reaching $199.95. The company had a trading volume of 55,710 shares, compared to its average volume of 1,558,318. The business has a 50 day simple moving average of $197.98 and a 200 day simple moving average of $188.95. The company has a market cap of $35.66 billion, a price-to-earnings ratio of 11.18, a P/E/G ratio of 1.08 and a beta of 1.90. The company has a debt-to-equity ratio of 0.37, a quick ratio of 0.89 and a current ratio of 0.92. Diamondback Energy, Inc. has a 52-week low of $143.08 and a 52-week high of $214.50.

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, beating analysts’ consensus estimates of $4.29 by $0.21. The business had revenue of $2.23 billion for the quarter, compared to the consensus estimate of $2.10 billion. Diamondback Energy had a net margin of 36.71% and a return on equity of 19.36%. Diamondback Energy’s quarterly revenue was up 15.7% on a year-over-year basis. During the same period last year, the firm posted $4.10 earnings per share. As a group, sell-side analysts anticipate that Diamondback Energy, Inc. will post 18.63 EPS for the current year.

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.