Mutual of America Capital Management LLC Has $4.65 Million Holdings in Diamondback Energy, Inc. (NASDAQ:FANG)

Mutual of America Capital Management LLC decreased its holdings in shares of Diamondback Energy, Inc. (NASDAQ:FANGFree Report) by 1.9% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 23,486 shares of the oil and natural gas company’s stock after selling 467 shares during the quarter. Mutual of America Capital Management LLC’s holdings in Diamondback Energy were worth $4,654,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also modified their holdings of FANG. FORA Capital LLC bought a new stake in shares of Diamondback Energy during the 1st quarter valued at $8,148,000. Daiwa Securities Group Inc. increased its holdings in Diamondback Energy by 5.9% in the first quarter. Daiwa Securities Group Inc. now owns 38,942 shares of the oil and natural gas company’s stock valued at $7,717,000 after purchasing an additional 2,162 shares during the last quarter. Graypoint LLC lifted its stake in Diamondback Energy by 6.7% in the first quarter. Graypoint LLC now owns 1,651 shares of the oil and natural gas company’s stock valued at $327,000 after buying an additional 103 shares during the period. Consolidated Planning Corp boosted its holdings in Diamondback Energy by 129.5% during the first quarter. Consolidated Planning Corp now owns 15,426 shares of the oil and natural gas company’s stock worth $3,057,000 after buying an additional 8,703 shares during the last quarter. Finally, Mendel Money Management increased its stake in shares of Diamondback Energy by 205.0% in the 1st quarter. Mendel Money Management now owns 4,383 shares of the oil and natural gas company’s stock valued at $869,000 after acquiring an additional 8,556 shares during the last quarter. 90.01% of the stock is owned by institutional investors.

Analysts Set New Price Targets

FANG has been the subject of a number of analyst reports. Susquehanna boosted their price objective on shares of Diamondback Energy from $212.00 to $245.00 and gave the company a “positive” rating in a report on Monday, April 22nd. Scotiabank lifted their target price on Diamondback Energy from $210.00 to $255.00 and gave the stock a “sector outperform” rating in a report on Thursday, April 11th. Mizuho increased their price target on Diamondback Energy from $217.00 to $222.00 and gave the stock a “buy” rating in a report on Monday, May 13th. Piper Sandler raised their price target on Diamondback Energy from $227.00 to $247.00 and gave the stock an “overweight” rating in a research report on Friday, April 19th. Finally, Sanford C. Bernstein started coverage on Diamondback Energy in a research note on Thursday, June 6th. They set an “outperform” rating and a $243.00 target price for the company. One analyst has rated the stock with a sell rating, five have given a hold rating, fourteen have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $209.35.

Get Our Latest Stock Report on FANG

Diamondback Energy Stock Down 0.4 %

NASDAQ:FANG opened at $202.60 on Wednesday. Diamondback Energy, Inc. has a twelve month low of $132.21 and a twelve month high of $211.96. The firm has a market capitalization of $36.13 billion, a price-to-earnings ratio of 11.42, a price-to-earnings-growth ratio of 1.10 and a beta of 1.90. The company has a quick ratio of 0.89, a current ratio of 0.92 and a debt-to-equity ratio of 0.37. The stock’s 50 day moving average price is $196.72 and its two-hundred day moving average price is $184.15.

Diamondback Energy (NASDAQ:FANGGet Free Report) last issued 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 net margin of 36.71% and a return on equity of 19.36%. The business had revenue of $2.23 billion for the quarter, compared to the consensus estimate of $2.10 billion. During the same period in the previous year, the company earned $4.10 earnings per share. The firm’s revenue for the quarter was up 15.7% on a year-over-year basis. Equities research analysts expect that Diamondback Energy, Inc. will post 19.05 earnings per share for the current fiscal 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 issued a dividend of $0.90 per share. This represents a $3.60 dividend on an annualized basis and a yield of 1.78%. The ex-dividend date was Tuesday, May 14th. Diamondback Energy’s payout ratio is currently 20.29%.

Insider Activity at Diamondback Energy

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

Diamondback Energy Company Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Diamondback Energy (NASDAQ:FANG)

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