TrueWealth Advisors LLC Lowers Stock Holdings in Diamondback Energy, Inc. (NASDAQ:FANG)

TrueWealth Advisors LLC lessened its holdings in Diamondback Energy, Inc. (NASDAQ:FANG) by 5.9% in the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 2,860 shares of the oil and natural gas company’s stock after selling 178 shares during the period. TrueWealth Advisors LLC’s holdings in Diamondback Energy were worth $469,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also bought and sold shares of the business. Franklin Resources Inc. increased its holdings in shares of Diamondback Energy by 48.5% in the third quarter. Franklin Resources Inc. now owns 146,870 shares of the oil and natural gas company’s stock worth $28,008,000 after purchasing an additional 47,951 shares during the last quarter. Benjamin Edwards Inc. grew its holdings in shares of Diamondback Energy by 368.1% in the third quarter. Benjamin Edwards Inc. now owns 9,784 shares of the oil and natural gas company’s stock valued at $1,687,000 after purchasing an additional 7,694 shares in the last quarter. Everence Capital Management Inc. bought a new stake in Diamondback Energy in the fourth quarter worth $1,053,000. Geode Capital Management LLC raised its stake in Diamondback Energy by 6.1% during the third quarter. Geode Capital Management LLC now owns 4,618,560 shares of the oil and natural gas company’s stock valued at $793,611,000 after purchasing an additional 266,299 shares in the last quarter. Finally, Atria Investments Inc lifted its position in 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 during the last quarter. 90.01% of the stock is owned by institutional investors.

Insider Activity

In other news, Director Mark Lawrence Plaumann sold 1,150 shares of the business’s stock in a transaction on Wednesday, November 13th. The shares were sold at an average price of $181.00, for a total transaction of $208,150.00. Following the sale, the director now directly owns 4,712 shares of the company’s stock, valued at $852,872. The trade was a 19.62 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 0.48% of the company’s stock.

Diamondback Energy Stock Performance

FANG stock opened at $180.18 on Friday. The firm has a 50-day simple moving average of $170.60 and a two-hundred day simple moving average of $183.24. The company has a debt-to-equity ratio of 0.31, a quick ratio of 0.42 and a current ratio of 0.45. Diamondback Energy, Inc. has a one year low of $147.93 and a one year high of $214.50. The firm has a market cap of $52.61 billion, a price-to-earnings ratio of 10.31, a PEG ratio of 1.33 and a beta of 1.88.

Diamondback Energy (NASDAQ:FANG) last released its quarterly earnings results on Monday, November 4th. The oil and natural gas company reported $3.38 earnings per share (EPS) for the quarter, missing the consensus estimate of $4.62 by ($1.24). The firm had revenue of $2.65 billion during the quarter, compared to analysts’ expectations of $2.43 billion. Diamondback Energy had a return on equity of 13.68% and a net margin of 33.64%. Diamondback Energy’s revenue for the quarter was up 13.0% compared to the same quarter last year. During the same period in the prior year, the firm posted $5.49 earnings per share. On average, equities analysts forecast that Diamondback Energy, Inc. will post 16.08 EPS for the current fiscal year.

Diamondback Energy Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, November 21st. Shareholders of record on Thursday, November 14th were issued a $0.90 dividend. This represents a $3.60 annualized dividend and a yield of 2.00%. The ex-dividend date was Thursday, November 14th. Diamondback Energy’s dividend payout ratio is presently 20.61%.

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on FANG shares. BMO Capital Markets upgraded shares of Diamondback Energy from a “market perform” rating to an “outperform” rating and upped their target price for the company from $205.00 to $215.00 in a research report on Friday, October 4th. Barclays upgraded Diamondback Energy from an “equal weight” rating to an “overweight” rating and decreased their price objective for the company from $216.00 to $210.00 in a research report on Wednesday, October 2nd. KeyCorp decreased their price target on Diamondback Energy from $225.00 to $216.00 and set an “overweight” rating on the stock in a report on Wednesday, October 16th. Wells Fargo & Company increased their target price on shares of Diamondback Energy from $218.00 to $219.00 and gave the company an “overweight” rating in a research note on Tuesday, December 17th. Finally, Mizuho dropped their price target on shares of Diamondback Energy from $219.00 to $207.00 and set an “outperform” rating for the company in a research note on Monday, December 16th. One research analyst has rated the stock with a sell rating, four have issued a hold rating, eighteen have given a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat.com, Diamondback Energy presently has a consensus rating of “Moderate Buy” and a consensus target price of $210.63.

Diamondback Energy 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.