IFM Investors Pty Ltd grew its position in Diamondback Energy, Inc. (NASDAQ:FANG – Get Rating) by 28.3% in the first quarter, HoldingsChannel.com reports. The fund owned 26,832 shares of the oil and natural gas company’s stock after buying an additional 5,915 shares during the period. IFM Investors Pty Ltd’s holdings in Diamondback Energy were worth $3,678,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also recently made changes to their positions in the company. Wetherby Asset Management Inc. lifted its stake in shares of Diamondback Energy by 1.4% during the 4th quarter. Wetherby Asset Management Inc. now owns 5,774 shares of the oil and natural gas company’s stock worth $622,000 after buying an additional 77 shares during the last quarter. Heartland Bank & Trust Co lifted its stake in shares of Diamondback Energy by 1.9% during the 4th quarter. Heartland Bank & Trust Co now owns 4,131 shares of the oil and natural gas company’s stock worth $446,000 after buying an additional 78 shares during the last quarter. Mackay Shields LLC lifted its stake in shares of Diamondback Energy by 0.3% during the 4th quarter. Mackay Shields LLC now owns 25,609 shares of the oil and natural gas company’s stock worth $2,762,000 after buying an additional 78 shares during the last quarter. Toth Financial Advisory Corp lifted its stake in shares of Diamondback Energy by 0.6% during the 4th quarter. Toth Financial Advisory Corp now owns 14,455 shares of the oil and natural gas company’s stock worth $1,559,000 after buying an additional 80 shares during the last quarter. Finally, Wealthcare Advisory Partners LLC lifted its stake in shares of Diamondback Energy by 2.3% during the 1st quarter. Wealthcare Advisory Partners LLC now owns 3,697 shares of the oil and natural gas company’s stock worth $507,000 after buying an additional 83 shares during the last quarter. 89.97% of the stock is owned by institutional investors.

In related news, CAO Teresa L. Dick sold 2,500 shares of the firm’s stock in a transaction on Friday, May 27th. The stock was sold at an average price of $152.22, for a total transaction of $380,550.00. Following the completion of the transaction, the chief accounting officer now directly owns 57,308 shares of the company’s stock, valued at approximately $8,723,423.76. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CFO Hof Matthew Kaes Van’t sold 6,000 shares of the firm’s stock in a transaction on Monday, April 4th. The stock was sold at an average price of $140.02, for a total value of $840,120.00. Following the transaction, the chief financial officer now directly owns 73,334 shares of the company’s stock, valued at $10,268,226.68. The disclosure for this sale can be found here. Insiders have sold a total of 50,500 shares of company stock worth $7,580,970 over the last ninety days. 0.43% of the stock is currently owned by insiders.

Shares of Diamondback Energy stock opened at $122.31 on Thursday. The firm has a market capitalization of $21.71 billion, a PE ratio of 8.06, a price-to-earnings-growth ratio of 0.21 and a beta of 2.18. The company has a current ratio of 0.72, a quick ratio of 0.69 and a debt-to-equity ratio of 0.42. The firm’s 50 day moving average is $137.00 and its 200 day moving average is $130.76. Diamondback Energy, Inc. has a 1 year low of $65.93 and a 1 year high of $162.24.

Diamondback Energy (NASDAQ:FANG – Get Rating) last announced its quarterly earnings results on Monday, May 2nd. The oil and natural gas company reported $5.20 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.74 by $0.46. The company had revenue of $2.41 billion for the quarter, compared to analyst estimates of $1.93 billion. Diamondback Energy had a net margin of 34.17% and a return on equity of 19.91%. During the same period in the previous year, the firm posted $2.30 EPS. As a group, research analysts anticipate that Diamondback Energy, Inc. will post 26.16 earnings per share for the current year.

The business also recently declared a quarterly dividend, which was paid on Monday, May 23rd. Investors of record on Thursday, May 12th were issued a dividend of $0.70 per share. The ex-dividend date was Wednesday, May 11th. This is a positive change from Diamondback Energy’s previous quarterly dividend of $0.60. This represents a $2.80 annualized dividend and a dividend yield of 2.29%. Diamondback Energy’s payout ratio is 18.46%.

A number of research firms have recently issued reports on FANG. Barclays raised their target price on shares of Diamondback Energy from $160.00 to $180.00 and gave the stock an “overweight” rating in a research note on Tuesday, June 14th. Scotiabank lifted their price objective on shares of Diamondback Energy from $165.00 to $170.00 and gave the stock a “neutral” rating in a research note on Wednesday, March 9th. Piper Sandler lifted their price objective on shares of Diamondback Energy from $188.00 to $196.00 and gave the stock an “overweight” rating in a research note on Friday, June 10th. Susquehanna Bancshares lifted their price objective on shares of Diamondback Energy from $152.00 to $167.00 and gave the stock a “positive” rating in a research note on Monday, April 25th. Finally, Raymond James lifted their price objective on shares of Diamondback Energy from $195.00 to $200.00 and gave the stock a “strong-buy” rating in a research note on Monday, April 25th. Two investment analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, Diamondback Energy presently has an average rating of “Moderate Buy” and an average target price of $167.35.

About Diamondback Energy (Get Rating)

Diamondback Energy, Inc, an independent oil and natural gas company, focuses on the acquisition, development, exploration, and exploitation of unconventional and 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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