Greenup Street Wealth Management LLC Raises Position in Diamondback Energy, Inc. (NASDAQ:FANG)

Greenup Street Wealth Management LLC increased its holdings in Diamondback Energy, Inc. (NASDAQ:FANG) by 3.4% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 1,817 shares of the oil and natural gas company’s stock after purchasing an additional 60 shares during the quarter. Greenup Street Wealth Management LLC’s holdings in Diamondback Energy were worth $313,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also added to or reduced their stakes in the company. First Community Trust NA bought a new stake in Diamondback Energy in the 2nd quarter worth $26,000. Carolinas Wealth Consulting LLC grew its holdings in 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 worth $27,000 after acquiring an additional 55 shares during the last quarter. HHM Wealth Advisors LLC bought a new stake in Diamondback Energy in the 2nd quarter worth $40,000. Founders Capital Management grew its holdings in 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 worth $50,000 after acquiring an additional 125 shares during the last quarter. Finally, Oliver Lagore Vanvalin Investment Group grew its holdings in Diamondback Energy by 109.7% in the 2nd quarter. Oliver Lagore Vanvalin Investment Group now owns 260 shares of the oil and natural gas company’s stock worth $52,000 after acquiring an additional 136 shares during the last quarter. Institutional investors own 90.01% of the company’s stock.

Diamondback Energy Stock Up 0.8 %

Shares of Diamondback Energy stock opened at $183.96 on Friday. 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 market capitalization of $32.81 billion, a PE ratio of 10.37, a price-to-earnings-growth ratio of 1.22 and a beta of 1.89. Diamondback Energy, Inc. has a 52-week low of $145.70 and a 52-week high of $214.50. The company has a 50-day simple moving average of $186.67 and a two-hundred day simple moving average of $194.92.

Diamondback Energy (NASDAQ:FANG) last issued its earnings results on Monday, August 5th. The oil and natural gas company reported $4.52 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.51 by $0.01. The business had revenue of $2.48 billion during the quarter, compared to analysts’ expectations of $2.19 billion. Diamondback Energy had a net margin of 37.51% and a return on equity of 19.54%. The business’s revenue for the quarter was up 29.4% compared to the same quarter last year. During the same period in the previous year, the company earned $3.68 earnings per share. On average, analysts anticipate that Diamondback Energy, Inc. will post 19.08 EPS for the current fiscal year.

Diamondback Energy Increases Dividend

The company also recently announced a None dividend, which was paid on Thursday, August 22nd. Shareholders 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 payout ratio is 20.29%.

Insider Activity

In other news, major shareholder Lyndal Greth sold 13,212,830 shares of the business’s stock in a transaction that occurred on Monday, September 23rd. The shares were sold at an average price of $175.11, for a total transaction of $2,313,698,661.30. Following the completion of the transaction, the insider now directly owns 1,037,819 shares of the company’s stock, valued at $181,732,485.09. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 0.48% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on FANG shares. Wells Fargo & Company cut their target price on shares of Diamondback Energy from $230.00 to $219.00 and set an “overweight” rating on the stock in a research note on Tuesday, October 1st. Royal Bank of Canada reaffirmed an “outperform” rating and set a $220.00 target price on shares of Diamondback Energy in a research note on Tuesday, September 17th. Wolfe Research started coverage on shares of Diamondback Energy in a research note on Thursday, July 18th. They set a “peer perform” rating on the stock. Susquehanna cut their target price on shares of Diamondback Energy from $245.00 to $237.00 and set a “positive” rating on the stock in a research note on Wednesday, September 4th. Finally, Johnson Rice lowered shares of Diamondback Energy from a “strong-buy” rating to a “moderate buy” rating in a research note on Tuesday, September 24th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating, seventeen have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $210.32.

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.