Diamondback Energy, Inc. (NASDAQ:FANG) Shares Acquired by Ellis Investment Partners LLC

Ellis Investment Partners LLC grew its stake in Diamondback Energy, Inc. (NASDAQ:FANG) by 0.5% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 13,493 shares of the oil and natural gas company’s stock after buying an additional 69 shares during the quarter. Ellis Investment Partners LLC’s holdings in Diamondback Energy were worth $2,326,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of FANG. First Community Trust NA acquired a new position in shares of Diamondback Energy in the 2nd quarter valued at about $26,000. Carolinas Wealth Consulting LLC lifted its holdings in shares of Diamondback Energy by 67.1% in the 2nd quarter. Carolinas Wealth Consulting LLC now owns 137 shares of the oil and natural gas company’s stock valued at $27,000 after buying an additional 55 shares during the period. HHM Wealth Advisors LLC acquired a new position in shares of Diamondback Energy in the 2nd quarter valued at about $40,000. Values First Advisors Inc. acquired a new position in shares of Diamondback Energy in the 3rd quarter valued at about $42,000. Finally, Founders Capital Management lifted its holdings in shares of Diamondback Energy by 99.2% in the 2nd quarter. Founders Capital Management now owns 251 shares of the oil and natural gas company’s stock valued at $50,000 after buying an additional 125 shares during the period. Institutional investors and hedge funds own 90.01% of the company’s stock.

Insider Activity at Diamondback Energy

In related news, major shareholder Lyndal Greth sold 13,212,830 shares of the company’s stock in a transaction that occurred on Monday, September 23rd. The stock was sold at an average price of $175.11, for a total value of $2,313,698,661.30. Following the transaction, the insider now directly owns 1,037,819 shares in the company, valued at approximately $181,732,485.09. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 0.48% of the stock is currently owned by insiders.

Analyst Ratings Changes

Several equities analysts recently weighed in on FANG shares. KeyCorp cut their price target on Diamondback Energy from $225.00 to $216.00 and set an “overweight” rating for the company in a research note on Wednesday, October 16th. Truist Financial lifted their price target on Diamondback Energy from $220.00 to $230.00 and gave the company a “buy” rating in a research note on Wednesday, October 16th. Susquehanna cut their price target on Diamondback Energy from $237.00 to $233.00 and set a “positive” rating for the company in a research note on Friday, October 18th. Scotiabank cut their price target on Diamondback Energy from $245.00 to $225.00 and set a “sector outperform” rating for the company in a research note on Thursday, October 10th. Finally, Citigroup started coverage on Diamondback Energy in a research note on Monday, October 14th. They issued a “neutral” rating and a $195.00 price target for the company. One research analyst has rated the stock with a sell rating, five have given a hold rating, seventeen have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat, Diamondback Energy has a consensus rating of “Moderate Buy” and a consensus target price of $210.09.

Diamondback Energy Price Performance

Shares of FANG stock traded up $3.47 during trading hours on Friday, reaching $184.38. The company had a trading volume of 2,150,804 shares, compared to its average volume of 2,919,997. The company has a debt-to-equity ratio of 0.65, a quick ratio of 3.64 and a current ratio of 3.66. The stock has a fifty day moving average of $184.90 and a 200-day moving average of $194.02. The company has a market capitalization of $54.34 billion, a price-to-earnings ratio of 9.53, a PEG ratio of 1.27 and a beta of 1.89. Diamondback Energy, Inc. has a 12-month low of $145.70 and a 12-month high of $214.50.

Diamondback Energy (NASDAQ:FANG) last released its quarterly earnings data on Monday, August 5th. The oil and natural gas company reported $4.52 EPS for the quarter, beating analysts’ consensus estimates of $4.51 by $0.01. Diamondback Energy had a return on equity of 19.54% and a net margin of 37.51%. The firm had revenue of $2.48 billion for the quarter, compared to analysts’ expectations of $2.19 billion. During the same period in the prior year, the firm posted $3.68 earnings per share. The firm’s quarterly revenue was up 29.4% on a year-over-year basis. On average, equities analysts anticipate that Diamondback Energy, Inc. will post 17.37 earnings per share for the current year.

Diamondback Energy Increases Dividend

The firm also recently disclosed a None dividend, which was paid on Thursday, August 22nd. Investors of record on Thursday, August 15th were issued a $2.34 dividend. The ex-dividend date of this dividend was Thursday, August 15th. This is a boost from Diamondback Energy’s previous None dividend of $2.26. This represents a yield of 1.9%. Diamondback Energy’s dividend payout ratio is currently 18.60%.

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.