Harmony Asset Management LLC Has $303,000 Stock Holdings in Diamondback Energy, Inc. (NASDAQ:FANG)

Harmony Asset Management LLC cut its stake in shares of Diamondback Energy, Inc. (NASDAQ:FANG) by 46.9% in the third quarter, Holdings Channel reports. The firm owned 1,756 shares of the oil and natural gas company’s stock after selling 1,550 shares during the quarter. Harmony Asset Management LLC’s holdings in Diamondback Energy were worth $303,000 at the end of the most recent quarter.

Several other hedge funds also recently modified their holdings of FANG. Wealth Enhancement Advisory Services LLC grew its position in Diamondback Energy by 178.1% in the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 30,532 shares of the oil and natural gas company’s stock worth $6,112,000 after purchasing an additional 19,552 shares in the last quarter. Atria Investments Inc grew its position in shares of Diamondback Energy by 18.5% during the third quarter. Atria Investments Inc now owns 42,678 shares of the oil and natural gas company’s stock valued at $7,358,000 after purchasing an additional 6,672 shares in the last quarter. Cullen Investment Group LTD. grew its stake in shares of Diamondback Energy by 33.5% during the third quarter. Cullen Investment Group LTD. now owns 11,978 shares of the oil and natural gas company’s stock valued at $2,065,000 after buying an additional 3,008 shares during the last quarter. ORG Partners LLC raised its position in shares of Diamondback Energy by 2,768.9% in the 2nd quarter. ORG Partners LLC now owns 4,332 shares of the oil and natural gas company’s stock worth $883,000 after acquiring an additional 4,181 shares in the last quarter. Finally, Integrated Investment Consultants LLC acquired a new stake in shares of Diamondback Energy in the third quarter worth $4,464,000. Institutional investors own 90.01% of the company’s stock.

Diamondback Energy Trading Down 1.0 %

Shares of Diamondback Energy stock opened at $175.83 on Tuesday. Diamondback Energy, Inc. has a 12-month low of $145.70 and a 12-month high of $214.50. The stock has a market cap of $51.34 billion, a P/E ratio of 10.06, a P/E/G ratio of 1.31 and a beta of 1.88. The business’s 50 day moving average is $181.76 and its 200-day moving average is $189.68. The company has a quick ratio of 0.42, a current ratio of 0.45 and a debt-to-equity ratio of 0.31.

Diamondback Energy (NASDAQ:FANG) last issued its earnings results on Monday, November 4th. The oil and natural gas company reported $3.38 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $4.62 by ($1.24). Diamondback Energy had a net margin of 33.64% and a return on equity of 13.68%. The business had revenue of $2.65 billion for the quarter, compared to the consensus estimate of $2.43 billion. During the same period in the previous year, the firm earned $5.49 EPS. The company’s revenue was up 13.0% compared to the same quarter last year. Equities research analysts predict that Diamondback Energy, Inc. will post 16.26 earnings per share for the current fiscal year.

Diamondback Energy Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, November 21st. Stockholders of record on Thursday, November 14th were paid a $0.90 dividend. This represents a $3.60 annualized dividend and a dividend yield of 2.05%. The ex-dividend date of this dividend was Thursday, November 14th. Diamondback Energy’s dividend payout ratio is currently 20.61%.

Wall Street Analysts Forecast Growth

FANG has been the topic of a number of research analyst reports. Jefferies Financial Group started coverage on shares of Diamondback Energy in a report on Monday, September 16th. They set a “hold” rating and a $185.00 price objective on the stock. Royal Bank of Canada reaffirmed an “outperform” rating and set a $210.00 price objective on shares of Diamondback Energy in a research report on Wednesday, November 6th. Benchmark reissued a “buy” rating and set a $195.00 price target on shares of Diamondback Energy in a research note on Tuesday, October 29th. Piper Sandler raised their price target on Diamondback Energy from $240.00 to $252.00 and gave the company an “overweight” rating in a research note on Tuesday, October 15th. Finally, The Goldman Sachs Group assumed coverage on Diamondback Energy in a research report on Monday. They set a “buy” rating and a $227.00 price objective for the company. One equities research analyst has rated the stock with a sell rating, five have given a hold rating, seventeen have issued a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat, Diamondback Energy currently has a consensus rating of “Moderate Buy” and an average target price of $212.65.

Insider Buying and Selling

In other news, Director Mark Lawrence Plaumann sold 1,150 shares of Diamondback Energy stock in a transaction that occurred on Wednesday, November 13th. The stock was sold at an average price of $181.00, for a total transaction of $208,150.00. Following the sale, the director now owns 4,712 shares of the company’s stock, valued at approximately $852,872. The trade was a 19.62 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, major shareholder Lyndal Greth sold 13,212,830 shares of the firm’s stock in a transaction dated 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 sale, the insider now owns 1,037,819 shares of the company’s stock, valued at $181,732,485.09. The trade was a 92.72 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.48% of the stock is owned by company insiders.

Diamondback Energy Company Profile

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.