Triangle Securities Wealth Management raised its stake in Diamondback Energy, Inc. (NASDAQ:FANG) by 2.7% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 7,280 shares of the oil and natural gas company’s stock after buying an additional 190 shares during the period. Triangle Securities Wealth Management’s holdings in Diamondback Energy were worth $689,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Catalyst Capital Advisors LLC bought a new stake in shares of Diamondback Energy in the 2nd quarter valued at about $35,000. IndexIQ Advisors LLC boosted its position in shares of Diamondback Energy by 203.2% during the 2nd quarter. IndexIQ Advisors LLC now owns 570 shares of the oil and natural gas company’s stock valued at $54,000 after purchasing an additional 382 shares in the last quarter. Eagle Bay Advisors LLC bought a new stake in shares of Diamondback Energy during the 2nd quarter valued at about $71,000. Koshinski Asset Management Inc. bought a new stake in shares of Diamondback Energy during the 3rd quarter valued at about $84,000. Finally, Berman Capital Advisors LLC boosted its position in shares of Diamondback Energy by 32.3% during the 2nd quarter. Berman Capital Advisors LLC now owns 991 shares of the oil and natural gas company’s stock valued at $93,000 after purchasing an additional 242 shares in the last quarter. Hedge funds and other institutional investors own 87.19% of the company’s stock.
A number of research analysts recently weighed in on the company. Truist upped their price target on Diamondback Energy from $130.00 to $148.00 and gave the stock a “buy” rating in a research note on Thursday, October 7th. Roth Capital increased their price objective on Diamondback Energy from $115.00 to $135.00 and gave the stock a “buy” rating in a research note on Tuesday, October 19th. Scotiabank downgraded Diamondback Energy from a “sector outperform” rating to a “sector perform” rating and set a $125.00 price target for the company. in a research report on Wednesday, November 17th. They noted that the move was a valuation call. Mizuho increased their price target on Diamondback Energy from $127.00 to $147.00 and gave the company a “buy” rating in a research report on Tuesday, October 26th. Finally, Morgan Stanley increased their price target on Diamondback Energy from $122.00 to $150.00 and gave the company an “overweight” rating in a research report on Friday, November 19th. Four investment analysts have rated the stock with a hold rating, nineteen have given a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Buy” and a consensus target price of $112.56.
Diamondback Energy (NASDAQ:FANG) last issued its quarterly earnings results on Sunday, October 31st. The oil and natural gas company reported $2.94 EPS for the quarter, topping analysts’ consensus estimates of $2.81 by $0.13. Diamondback Energy had a return on equity of 12.95% and a net margin of 7.95%. The firm had revenue of $1.91 billion for the quarter, compared to analysts’ expectations of $1.48 billion. During the same period in the previous year, the firm posted $0.62 EPS. The business’s revenue for the quarter was up 165.3% compared to the same quarter last year. On average, analysts predict that Diamondback Energy, Inc. will post 11.17 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which was paid on Thursday, November 18th. Investors of record on Thursday, November 11th were issued a $0.50 dividend. This is a positive change from Diamondback Energy’s previous quarterly dividend of $0.45. This represents a $2.00 dividend on an annualized basis and a yield of 1.75%. The ex-dividend date was Tuesday, November 9th. Diamondback Energy’s payout ratio is presently 104.17%.
In other Diamondback Energy news, CAO Teresa L. Dick sold 2,500 shares of the business’s stock in a transaction on Friday, November 5th. The shares were sold at an average price of $114.51, for a total transaction of $286,275.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Steven E. West sold 8,500 shares of the business’s stock in a transaction on Monday, November 8th. The shares were sold at an average price of $117.43, for a total transaction of $998,155.00. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 21,500 shares of company stock valued at $2,479,105. 0.43% of the stock is owned by company insiders.
About Diamondback Energy
Diamondback Energy, Inc is an independent oil and natural gas company, which engages in the acquisition, development, exploration and exploitation of unconventional, onshore oil and natural gas reserves. It operates through the Upstream and Midstream Services segments. The Upstream segment focuses on the Permian Basin operations in West Texas.
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