Valeo Financial Advisors LLC Purchases 183 Shares of Diamondback Energy, Inc. $FANG

Valeo Financial Advisors LLC grew its position in Diamondback Energy, Inc. (NASDAQ:FANG) by 7.9% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 2,494 shares of the oil and natural gas company’s stock after acquiring an additional 183 shares during the quarter. Valeo Financial Advisors LLC’s holdings in Diamondback Energy were worth $343,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also added to or reduced their stakes in the company. Investor s Fiduciary Advisor Network LLC boosted its stake in shares of Diamondback Energy by 2.1% in the first quarter. Investor s Fiduciary Advisor Network LLC now owns 3,559 shares of the oil and natural gas company’s stock worth $569,000 after buying an additional 74 shares during the last quarter. Mesirow Financial Investment Management Inc. boosted its stake in shares of Diamondback Energy by 5.6% in the first quarter. Mesirow Financial Investment Management Inc. now owns 1,414 shares of the oil and natural gas company’s stock worth $226,000 after buying an additional 75 shares during the last quarter. FourThought Financial Partners LLC boosted its stake in shares of Diamondback Energy by 2.9% in the first quarter. FourThought Financial Partners LLC now owns 2,779 shares of the oil and natural gas company’s stock worth $444,000 after buying an additional 78 shares during the last quarter. Grove Bank & Trust boosted its stake in shares of Diamondback Energy by 65.0% in the first quarter. Grove Bank & Trust now owns 203 shares of the oil and natural gas company’s stock worth $32,000 after buying an additional 80 shares during the last quarter. Finally, Biondo Investment Advisors LLC boosted its stake in shares of Diamondback Energy by 0.3% in the first quarter. Biondo Investment Advisors LLC now owns 28,858 shares of the oil and natural gas company’s stock worth $4,614,000 after buying an additional 80 shares during the last quarter. Institutional investors own 90.01% of the company’s stock.

Insider Activity at Diamondback Energy

In related news, Chairman Travis D. Stice sold 20,400 shares of the stock in a transaction that occurred on Thursday, August 7th. The stock was sold at an average price of $142.80, for a total value of $2,913,120.00. Following the completion of the sale, the chairman owned 102,145 shares of the company’s stock, valued at approximately $14,586,306. This trade represents a 16.65% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 0.70% of the company’s stock.

Diamondback Energy Price Performance

Shares of Diamondback Energy stock opened at $144.21 on Friday. The business has a 50 day simple moving average of $142.63 and a two-hundred day simple moving average of $141.33. Diamondback Energy, Inc. has a 12 month low of $114.00 and a 12 month high of $197.68. The stock has a market capitalization of $41.75 billion, a P/E ratio of 10.25 and a beta of 1.04. The company has a debt-to-equity ratio of 0.35, a current ratio of 0.55 and a quick ratio of 0.52.

Diamondback Energy (NASDAQ:FANG) last announced its earnings results on Monday, August 4th. The oil and natural gas company reported $2.67 EPS for the quarter, missing analysts’ consensus estimates of $2.72 by ($0.05). Diamondback Energy had a net margin of 27.25% and a return on equity of 9.48%. The firm had revenue of $3.68 billion for the quarter, compared to analyst estimates of $3.35 billion. During the same period in the previous year, the company earned $4.52 EPS. Diamondback Energy’s revenue was up 48.1% compared to the same quarter last year. As a group, analysts predict that Diamondback Energy, Inc. will post 15.49 EPS for the current fiscal year.

Diamondback Energy Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, August 21st. Shareholders of record on Thursday, August 14th were issued a dividend of $1.00 per share. The ex-dividend date of this dividend was Thursday, August 14th. This represents a $4.00 dividend on an annualized basis and a dividend yield of 2.8%. Diamondback Energy’s dividend payout ratio is presently 28.43%.

Wall Street Analysts Forecast Growth

FANG has been the topic of a number of recent analyst reports. Susquehanna lowered their price target on Diamondback Energy from $192.00 to $188.00 and set a “positive” rating on the stock in a research report on Wednesday, July 23rd. UBS Group increased their price target on Diamondback Energy from $163.00 to $171.00 and gave the stock a “buy” rating in a research report on Wednesday, August 20th. Morgan Stanley increased their price target on Diamondback Energy from $184.00 to $186.00 and gave the stock an “overweight” rating in a research report on Monday, August 18th. Piper Sandler lowered their price target on Diamondback Energy from $228.00 to $222.00 and set an “overweight” rating on the stock in a research report on Thursday, August 14th. Finally, Scotiabank reiterated an “outperform” rating on shares of Diamondback Energy in a research report on Thursday. Two analysts have rated the stock with a Strong Buy rating, twenty have issued a Buy rating and one has given a Hold rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Buy” and an average target price of $192.64.

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.