Moran Wealth Management LLC Sells 3,564 Shares of Diamondback Energy, Inc. (NASDAQ:FANG)

Moran Wealth Management LLC decreased its position in shares of Diamondback Energy, Inc. (NASDAQ:FANG) by 12.2% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 25,764 shares of the oil and natural gas company’s stock after selling 3,564 shares during the quarter. Moran Wealth Management LLC’s holdings in Diamondback Energy were worth $4,442,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Price T Rowe Associates Inc. MD grew its holdings in Diamondback Energy by 38.2% during the first quarter. Price T Rowe Associates Inc. MD now owns 8,609,143 shares of the oil and natural gas company’s stock worth $1,706,076,000 after buying an additional 2,381,488 shares in the last quarter. Bank of New York Mellon Corp grew its holdings in Diamondback Energy by 16.0% during the second quarter. Bank of New York Mellon Corp now owns 3,012,329 shares of the oil and natural gas company’s stock worth $603,038,000 after buying an additional 415,902 shares in the last quarter. Boston Partners grew its holdings in Diamondback Energy by 235.6% during the first quarter. Boston Partners now owns 2,730,482 shares of the oil and natural gas company’s stock worth $541,844,000 after buying an additional 1,916,900 shares in the last quarter. Massachusetts Financial Services Co. MA grew its holdings in Diamondback Energy by 10.1% during the second quarter. Massachusetts Financial Services Co. MA now owns 2,690,181 shares of the oil and natural gas company’s stock worth $538,547,000 after buying an additional 247,065 shares in the last quarter. Finally, Pacer Advisors Inc. grew its holdings in Diamondback Energy by 7.1% during the second quarter. Pacer Advisors Inc. now owns 2,473,831 shares of the oil and natural gas company’s stock worth $495,236,000 after buying an additional 164,732 shares in the last quarter. Institutional investors own 90.01% of the company’s stock.

Diamondback Energy Trading Up 0.7 %

Shares of FANG stock opened at $181.46 on Thursday. The company has a quick ratio of 0.42, a current ratio of 0.45 and a debt-to-equity ratio of 0.31. The firm has a market cap of $52.98 billion, a P/E ratio of 10.39, a price-to-earnings-growth ratio of 1.26 and a beta of 1.89. The business has a 50-day moving average price of $181.65 and a two-hundred day moving average price of $191.00. Diamondback Energy, Inc. has a 12-month low of $145.70 and a 12-month high of $214.50.

Diamondback Energy (NASDAQ:FANG) last released its earnings results on Monday, November 4th. The oil and natural gas company reported $3.38 earnings per share for the quarter, missing analysts’ consensus estimates of $4.62 by ($1.24). Diamondback Energy had a return on equity of 13.68% and a net margin of 33.64%. The firm had revenue of $2.65 billion during the quarter, compared to the consensus estimate of $2.43 billion. During the same quarter in the previous year, the firm earned $5.49 EPS. The business’s quarterly revenue was up 13.0% compared to the same quarter last year. Equities analysts anticipate that Diamondback Energy, Inc. will post 16.78 EPS for the current fiscal year.

Diamondback Energy Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, November 21st. Investors of record on Thursday, November 14th will be issued a dividend of $0.90 per share. This represents a $3.60 annualized dividend and a dividend yield of 1.98%. The ex-dividend date is Thursday, November 14th. Diamondback Energy’s dividend payout ratio is currently 20.61%.

Analyst Ratings Changes

Several research firms have weighed in on FANG. StockNews.com raised Diamondback Energy from a “sell” rating to a “hold” rating in a research report on Wednesday, November 13th. Barclays raised Diamondback Energy from an “equal weight” rating to an “overweight” rating and cut their price objective for the stock from $216.00 to $210.00 in a research report on Wednesday, October 2nd. Royal Bank of Canada reissued an “outperform” rating and issued a $210.00 price objective on shares of Diamondback Energy in a research report on Wednesday, November 6th. UBS Group cut their price objective on Diamondback Energy from $247.00 to $223.00 and set a “buy” rating on the stock in a research report on Wednesday, September 18th. Finally, Morgan Stanley boosted their price objective on Diamondback Energy from $185.00 to $198.00 and gave the stock an “overweight” rating in a research report on Monday, September 16th. One research analyst has rated the stock with a sell rating, five have issued a hold rating, seventeen have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $212.00.

Insider Buying and Selling

In related news, Director Mark Lawrence Plaumann sold 1,150 shares of Diamondback Energy stock in a transaction on Wednesday, November 13th. The shares were sold at an average price of $181.00, for a total value of $208,150.00. Following the transaction, 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 link. Also, major shareholder Lyndal Greth sold 13,212,830 shares of the stock in a transaction 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 sale, the insider now directly 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 position. The disclosure for this sale can be found here. 0.48% of the stock is owned by corporate insiders.

About Diamondback Energy

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.