MCF Advisors LLC bought a new stake in Diamondback Energy, Inc. (NASDAQ: CLICK – Get a rating) in the first quarter, HoldingsChannel reports. The institutional investor purchased 257 shares of the oil and gas company’s stock, valued at approximately $35,000.
A number of other hedge funds and other institutional investors have also recently made changes to their positions in the business. Confluence Wealth Services Inc. acquired a new position in Diamondback Energy in the fourth quarter worth about $38,000. Creative Financial Designs Inc. ADV raised its stake in shares of Diamondback Energy by 235.0% in the 1st quarter. Creative Financial Designs Inc. ADV now owns 335 shares of the oil and gas company’s stock valued at $46,000 after buying an additional 235 shares during the period. Allworth Financial LP raised its stake in shares of Diamondback Energy by 52.4% in the first quarter. Allworth Financial LP now owns 349 shares of the oil and gas company’s stock worth $48,000 after buying an additional 120 shares in the last quarter. Key Financial Inc acquired a new position in shares of Diamondback Energy during the 1st quarter worth about $55,000. Finally, City Holding Co. acquired a new stake in Diamondback Energy in the 4th quarter valued at $60,000. 89.97% of shares are owned by institutional investors.
Wall Street analysts predict growth
FANG has been the subject of several recent analyst reports. Piper Sandler cut their price objective on Diamondback Energy from $196.00 to $191.00 and set an “overweight” rating for the company in a research note on Friday, July 22nd. Truist Financial lifted their price target on shares of Diamondback Energy from $185.00 to $203.00 in a report on Tuesday, July 19th. Wells Fargo & Company cut their price objective on shares of Diamondback Energy from $200.00 to $192.00 and set an “overweight” rating on the stock in a research report on Monday, July 11th. Citigroup boosted their price target on shares of Diamondback Energy to $148.00 in a report on Monday, July 4th. Finally, Susquehanna upped their target price on shares of Diamondback Energy from $152.00 to $167.00 and gave the company a “positive” rating in a research note on Monday, April 25th. Two analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company’s stock. The company has an average rating of “Moderate Buy” and a consensus target price of $168.89, according to MarketBeat.com.
Diamondback Energy Trading rose 3.6%
NASDAQ: CLICK opened at $128.02 on Monday. The company has a debt-to-equity ratio of 0.42, a current ratio of 0.72, and a quick ratio of 0.69. The 50 day simple moving average is $130.54 and the 200 day simple moving average is $131.79. Diamondback Energy, Inc. has a fifty-two week low of $65.93 and a fifty-two week high of $162.24. The stock has a market cap of $22.72 billion, a PE ratio of 8.44, a price-to-earnings ratio of 0.23 and a beta of 2.12.
Diamondback Energy (NASDAQ: CLICK – Get a rating) last announced quarterly earnings results on Monday, May 2. The oil and gas company reported $5.20 earnings per share for the quarter, topping analysts’ consensus estimates of $4.74 by $0.46. Diamondback Energy had a net margin of 34.17% and a return on equity of 19.91%. The company had revenue of $2.41 billion for the quarter, compared to analyst estimates of $1.93 billion. In the same quarter last year, earnings per share amounted to $2.30. Sell-side analysts expect Diamondback Energy, Inc. will post 25.66 EPS in the current fiscal year.
Insiders make bets
In other news, CFO Hoff Matthew Kaes Van’t sold 6,000 shares of the firm’s stock in a transaction that occurred on Friday, May 27th. The shares were sold at an average price of $150.00 for a total value of $900,000.00. Following the completion of the transaction, the chief financial officer now owns 67,334 shares in the company, valued at approximately $10,100,100. The sale was reported in a filing with the Securities and Exchange Commission, which is available through this hyperlink. In other Diamondback Energy news, CEO Travis D. Stice sold 30,000 shares of the stock in a transaction on Friday, May 27th. The shares were sold at an average price of $150.01 for a total amount of $4,500,300.00. Following the completion of the sale, the chief executive officer now owns 428,497 shares in the company, valued at $64,278,834.97. The sale was announced in an SEC filing available via this hyperlink. In addition, the financial director Hoff Matthew Kaes Van’t sold 6,000 shares of Diamondback Energy stock in a transaction that occurred on Friday, May 27th. The shares were sold at an average price of $150.00, for a total transaction of $900,000.00. Following the completion of the transaction, the chief financial officer now directly owns 67,334 shares in the company, valued at approximately $10,100,100. Disclosures for this sale can be found here here. Insiders have sold 44,500 shares of company stock worth $6,740,850 over the last three months. 0.42% of shares are currently owned by corporate insiders.
Diamondback Energy Company Profile
Diamondback Energy, Inc, an independent oil and gas company, specializes in the acquisition, development, exploration and exploitation of unconventional and onshore oil and natural gas reserves in the Permian Basin of 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.
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