Diamondback Energy, Inc. (NASDAQ:FANG) Shares Bought by Wealth Enhancement Advisory Services LLC

Wealth Enhancement Advisory Services LLC grew its holdings in Diamondback Energy, Inc. (NASDAQ:FANG) by 4.0% in the 4th quarter, HoldingsChannel.com reports. The fund owned 16,608 shares of the oil and natural gas company’s stock after buying an additional 637 shares during the quarter. Wealth Enhancement Advisory Services LLC’s holdings in Diamondback Energy were worth $2,863,000 as of its most recent SEC filing.

Other large investors have also modified their holdings of the company. Carolinas Wealth Consulting LLC lifted its stake in Diamondback Energy by 67.1% in the second 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. Values First Advisors Inc. acquired a new stake in shares of Diamondback Energy in the 3rd quarter valued at $42,000. CVA Family Office LLC lifted 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 worth $51,000 after purchasing an additional 65 shares during the last quarter. Oliver Lagore Vanvalin Investment Group grew its stake in shares of Diamondback Energy by 109.7% during the second quarter. Oliver Lagore Vanvalin Investment Group now owns 260 shares of the oil and natural gas company’s stock worth $52,000 after purchasing an additional 136 shares in the last quarter. Finally, Ashton Thomas Securities LLC purchased a new position in Diamondback Energy in the third quarter valued at $52,000. Hedge funds and other institutional investors own 90.01% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have issued reports on the company. Royal Bank of Canada reaffirmed an “outperform” rating and set a $210.00 price target on shares of Diamondback Energy in a report on Wednesday, November 6th. Raymond James upped their price target on Diamondback Energy from $232.00 to $237.00 and gave the company a “strong-buy” rating in a report on Tuesday, November 19th. Citigroup started coverage on shares of Diamondback Energy in a report on Monday, October 14th. They set a “neutral” rating and a $195.00 price objective on the stock. Piper Sandler lowered their target price on shares of Diamondback Energy from $252.00 to $232.00 and set an “overweight” rating for the company in a report on Tuesday, December 17th. Finally, BMO Capital Markets upgraded shares of Diamondback Energy from a “market perform” rating to an “outperform” rating and lifted their price target for the stock from $205.00 to $215.00 in a research note on Friday, October 4th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating, eighteen have assigned a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $210.08.

Insider Transactions at Diamondback Energy

In other news, Director Mark Lawrence Plaumann sold 1,150 shares of the company’s stock in a transaction on Wednesday, November 13th. The shares were sold at an average price of $181.00, for a total transaction of $208,150.00. Following the transaction, the director now directly owns 4,712 shares of the company’s stock, valued at $852,872. This represents a 19.62 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Company insiders own 0.48% of the company’s stock.

Diamondback Energy Stock Performance

NASDAQ:FANG opened at $177.68 on Wednesday. The company has a debt-to-equity ratio of 0.31, a current ratio of 0.45 and a quick ratio of 0.42. The firm has a market cap of $51.88 billion, a price-to-earnings ratio of 10.17, a price-to-earnings-growth ratio of 1.19 and a beta of 1.88. The firm’s fifty day moving average price is $170.76 and its 200 day moving average price is $183.46. 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 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 firm had revenue of $2.65 billion during the quarter, compared to analysts’ expectations of $2.43 billion. Diamondback Energy had a net margin of 33.64% and a return on equity of 13.68%. The firm’s revenue was up 13.0% on a year-over-year basis. During the same period in the previous year, the firm earned $5.49 EPS. On average, sell-side analysts expect that Diamondback Energy, Inc. will post 16.51 EPS for the current year.

Diamondback Energy Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, November 21st. Shareholders of record on Thursday, November 14th were given a dividend of $0.90 per share. This represents a $3.60 annualized dividend and a yield of 2.03%. The ex-dividend date was Thursday, November 14th. Diamondback Energy’s payout ratio is 20.61%.

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.