3,669 Shares in Diamondback Energy, Inc. (NASDAQ:FANG) Bought by Net Worth Advisory Group

Net Worth Advisory Group purchased a new stake in Diamondback Energy, Inc. (NASDAQ:FANG) during the third quarter, Holdings Channel reports. The institutional investor purchased 3,669 shares of the oil and natural gas company’s stock, valued at approximately $633,000.

Several other hedge funds and other institutional investors have also made changes to their positions in the stock. Stratos Wealth Advisors LLC acquired a new stake in shares of Diamondback Energy in the 3rd quarter valued at $1,786,000. Aaron Wealth Advisors LLC raised its stake in Diamondback Energy by 10.6% in the third quarter. Aaron Wealth Advisors LLC now owns 1,759 shares of the oil and natural gas company’s stock valued at $303,000 after buying an additional 169 shares in the last quarter. V Square Quantitative Management LLC raised its stake in Diamondback Energy by 57.8% in the third quarter. V Square Quantitative Management LLC now owns 1,901 shares of the oil and natural gas company’s stock valued at $328,000 after buying an additional 696 shares in the last quarter. Sumitomo Mitsui DS Asset Management Company Ltd lifted its holdings in Diamondback Energy by 2.9% during the 3rd quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 18,467 shares of the oil and natural gas company’s stock worth $3,184,000 after buying an additional 513 shares during the last quarter. Finally, TruWealth Advisors LLC boosted its position in shares of Diamondback Energy by 3.4% during the 3rd quarter. TruWealth Advisors LLC now owns 95,505 shares of the oil and natural gas company’s stock worth $16,465,000 after acquiring an additional 3,118 shares in the last quarter. Hedge funds and other institutional investors own 90.01% of the company’s stock.

Diamondback Energy Price Performance

Shares of FANG opened at $183.99 on Friday. The firm has a market capitalization of $32.81 billion, a PE ratio of 10.37, a P/E/G ratio of 1.22 and a beta of 1.89. The stock’s 50 day moving average is $186.35 and its two-hundred day moving average is $194.77. Diamondback Energy, Inc. has a twelve month low of $145.70 and a twelve month high of $214.50. The company has a current ratio of 3.66, a quick ratio of 3.64 and a debt-to-equity ratio of 0.65.

Diamondback Energy (NASDAQ:FANG) last posted its quarterly earnings results on Monday, August 5th. The oil and natural gas company reported $4.52 earnings per share for the quarter, beating analysts’ consensus estimates of $4.51 by $0.01. The firm had revenue of $2.48 billion for the quarter, compared to the consensus estimate of $2.19 billion. Diamondback Energy had a return on equity of 19.54% and a net margin of 37.51%. The company’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 business earned $3.68 earnings per share. Research analysts anticipate that Diamondback Energy, Inc. will post 19.08 earnings per share for the current year.

Diamondback Energy Increases Dividend

The business also recently declared a None dividend, which was paid on Thursday, August 22nd. Stockholders of record on Thursday, August 15th were issued a $2.34 dividend. This represents a dividend yield of 1.9%. The ex-dividend date of this dividend was Thursday, August 15th. This is an increase from Diamondback Energy’s previous None dividend of $2.26. Diamondback Energy’s dividend payout ratio (DPR) is currently 20.29%.

Wall Street Analysts Forecast Growth

FANG has been the subject of several recent analyst reports. Susquehanna decreased their target price on Diamondback Energy from $237.00 to $233.00 and set a “positive” rating for the company in a research note on Friday. Bank of America boosted their price objective on shares of Diamondback Energy from $201.00 to $215.00 and gave the stock a “neutral” rating in a research report on Tuesday, July 23rd. Wells Fargo & Company reissued a “sector outperform” rating on shares of Diamondback Energy in a research report on Friday. Barclays raised Diamondback Energy from an “equal weight” rating to an “overweight” rating and dropped their price objective for the stock from $216.00 to $210.00 in a report on Wednesday, October 2nd. Finally, Citigroup assumed coverage on Diamondback Energy in a report on Monday, October 14th. They issued a “neutral” rating and a $195.00 target price for the company. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating, seventeen have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $210.09.

Insider Activity at Diamondback Energy

In other Diamondback Energy news, major shareholder Lyndal Greth sold 13,212,830 shares of the company’s stock in a transaction dated 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 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 sale was disclosed in a filing with the SEC, which can be accessed through this link. Company insiders own 0.48% of the company’s stock.

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.