Diamondback Energy, Inc. (NASDAQ:FANG) Holdings Raised by Foundations Investment Advisors LLC

Foundations Investment Advisors LLC increased its stake in Diamondback Energy, Inc. (NASDAQ:FANG) by 14.1% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 5,180 shares of the oil and natural gas company’s stock after purchasing an additional 640 shares during the quarter. Foundations Investment Advisors LLC’s holdings in Diamondback Energy were worth $893,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. First Community Trust NA acquired a new position in shares of Diamondback Energy during the 2nd quarter valued at $26,000. Carolinas Wealth Consulting LLC boosted its stake in Diamondback Energy by 67.1% during the second quarter. Carolinas Wealth Consulting LLC now owns 137 shares of the oil and natural gas company’s stock valued at $27,000 after buying an additional 55 shares in the last quarter. HHM Wealth Advisors LLC bought a new stake in Diamondback Energy in the second quarter worth about $40,000. Founders Capital Management lifted 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 valued at $50,000 after acquiring an additional 125 shares during the last quarter. Finally, CVA Family Office LLC boosted its position 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 valued at $51,000 after purchasing an additional 65 shares in the last quarter. Institutional investors own 90.01% of the company’s stock.

Insider Activity at Diamondback Energy

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

Diamondback Energy Price Performance

NASDAQ FANG opened at $180.91 on Friday. The company has a quick ratio of 3.64, a current ratio of 3.66 and a debt-to-equity ratio of 0.65. The stock has a market capitalization of $32.26 billion, a PE ratio of 10.20, a price-to-earnings-growth ratio of 1.22 and a beta of 1.89. Diamondback Energy, Inc. has a 12-month low of $145.70 and a 12-month high of $214.50. The company has a 50 day moving average price of $185.42 and a two-hundred day moving average price of $194.34.

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

Diamondback Energy Increases Dividend

The business also recently disclosed a None dividend, which was paid on Thursday, August 22nd. Stockholders of record on Thursday, August 15th were issued a dividend of $2.34 per share. This is a positive change from Diamondback Energy’s previous None dividend of $2.26. The ex-dividend date was Thursday, August 15th. This represents a dividend yield of 1.9%. Diamondback Energy’s dividend payout ratio is currently 20.29%.

Analyst Ratings Changes

A number of analysts recently commented on the stock. Barclays upgraded shares of Diamondback Energy from an “equal weight” rating to an “overweight” rating and dropped their target price for the stock from $216.00 to $210.00 in a report on Wednesday, October 2nd. Morgan Stanley increased their price objective on Diamondback Energy from $185.00 to $198.00 and gave the company an “overweight” rating in a research report on Monday, September 16th. Sanford C. Bernstein reduced their price objective on Diamondback Energy from $243.00 to $236.00 and set an “outperform” rating for the company in a research note on Wednesday, July 17th. Citigroup assumed coverage on Diamondback Energy in a research report on Monday, October 14th. They set a “neutral” rating and a $195.00 target price on the stock. Finally, Truist Financial increased their price target on Diamondback Energy from $220.00 to $230.00 and gave the company a “buy” rating in a research report on Wednesday, October 16th. One analyst has rated the stock with a sell rating, five have given a hold rating, seventeen have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, Diamondback Energy has a consensus rating of “Moderate Buy” and an average target price of $210.09.

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.