Drive Wealth Management LLC Has $242,000 Position in Diamondback Energy, Inc. (NASDAQ:FANG)

Drive Wealth Management LLC increased its holdings in shares of Diamondback Energy, Inc. (NASDAQ:FANG) by 14.1% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 1,479 shares of the oil and natural gas company’s stock after acquiring an additional 183 shares during the quarter. Drive Wealth Management LLC’s holdings in Diamondback Energy were worth $242,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in the business. Financial Advocates Investment Management increased its holdings in shares of Diamondback Energy by 3.0% during the 3rd quarter. Financial Advocates Investment Management now owns 1,907 shares of the oil and natural gas company’s stock worth $329,000 after acquiring an additional 55 shares during the last quarter. Greenup Street Wealth Management LLC increased its holdings in shares of Diamondback Energy by 3.4% during the 3rd quarter. Greenup Street Wealth Management LLC now owns 1,817 shares of the oil and natural gas company’s stock worth $313,000 after acquiring an additional 60 shares during the last quarter. Lakewood Asset Management LLC increased its holdings in shares of Diamondback Energy by 0.5% during the 4th quarter. Lakewood Asset Management LLC now owns 11,340 shares of the oil and natural gas company’s stock worth $1,858,000 after acquiring an additional 60 shares during the last quarter. West Family Investments Inc. increased its holdings in shares of Diamondback Energy by 3.4% during the 3rd quarter. West Family Investments Inc. now owns 1,852 shares of the oil and natural gas company’s stock worth $319,000 after acquiring an additional 61 shares during the last quarter. Finally, CVA Family Office LLC increased its holdings in shares of Diamondback Energy by 28.1% during the 3rd quarter. CVA Family Office LLC now owns 296 shares of the oil and natural gas company’s stock worth $51,000 after acquiring an additional 65 shares during the last quarter. 90.01% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, Director Mark Lawrence Plaumann sold 1,150 shares of the firm’s 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 completion of the sale, the director now owns 4,712 shares of the company’s stock, valued at $852,872. This trade represents a 19.62 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. 0.48% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

A number of research analysts have commented on the company. Barclays raised 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 report on Wednesday, October 2nd. Scotiabank decreased their price objective on Diamondback Energy from $245.00 to $225.00 and set a “sector outperform” rating on the stock in a report on Thursday, October 10th. Benchmark reaffirmed a “buy” rating and issued a $195.00 price objective on shares of Diamondback Energy in a report on Tuesday, October 29th. Wolfe Research raised Diamondback Energy from a “peer perform” rating to an “outperform” rating and set a $190.00 price objective on the stock in a report on Friday, January 3rd. Finally, BMO Capital Markets raised Diamondback Energy from a “market perform” rating to an “outperform” rating and upped their price objective for the company from $205.00 to $215.00 in a report on Friday, October 4th. Four equities research analysts have rated the stock with a hold rating, eighteen have given a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $215.00.

Diamondback Energy Trading Down 1.0 %

Shares of FANG stock opened at $171.60 on Tuesday. The stock has a market cap of $50.11 billion, a price-to-earnings ratio of 9.82, a PEG ratio of 1.44 and a beta of 1.88. The stock has a 50-day moving average of $170.28 and a 200-day moving average of $181.97. The company has a current ratio of 0.45, a quick ratio of 0.42 and a debt-to-equity ratio of 0.31. Diamondback Energy, Inc. has a 1-year low of $147.93 and a 1-year high of $214.50.

Diamondback Energy (NASDAQ:FANG) last issued its quarterly earnings results on Monday, November 4th. The oil and natural gas company reported $3.38 earnings per share for the quarter, missing the consensus estimate of $4.62 by ($1.24). The company had revenue of $2.65 billion during the quarter, compared to analyst estimates of $2.43 billion. Diamondback Energy had a net margin of 33.64% and a return on equity of 13.68%. The company’s quarterly revenue was up 13.0% on a year-over-year basis. During the same period in the previous year, the company posted $5.49 EPS. On average, equities research analysts forecast that Diamondback Energy, Inc. will post 15.58 earnings per share for the current year.

Diamondback Energy Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, November 21st. Investors of record on Thursday, November 14th were paid a dividend of $0.90 per share. The ex-dividend date of this dividend was Thursday, November 14th. This represents a $3.60 annualized dividend and a yield of 2.10%. Diamondback Energy’s dividend payout ratio is currently 20.61%.

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.