Moran Wealth Management LLC Buys 4,337 Shares of Diamondback Energy, Inc. $FANG

Moran Wealth Management LLC increased its stake in shares of Diamondback Energy, Inc. (NASDAQ:FANG) by 15.4% during the 3rd quarter, Holdings Channel.com reports. The firm owned 32,477 shares of the oil and natural gas company’s stock after acquiring an additional 4,337 shares during the quarter. Moran Wealth Management LLC’s holdings in Diamondback Energy were worth $4,647,000 at the end of the most recent reporting period.

Other institutional investors have also recently bought and sold shares of the company. CX Institutional boosted its position in Diamondback Energy by 9.4% in the 3rd quarter. CX Institutional now owns 4,667 shares of the oil and natural gas company’s stock valued at $668,000 after buying an additional 400 shares during the last quarter. Park Avenue Securities LLC raised its position in shares of Diamondback Energy by 8.1% during the third quarter. Park Avenue Securities LLC now owns 4,273 shares of the oil and natural gas company’s stock worth $611,000 after acquiring an additional 320 shares during the last quarter. E Fund Management Hong Kong Co. Ltd. lifted its stake in shares of Diamondback Energy by 106.3% during the third quarter. E Fund Management Hong Kong Co. Ltd. now owns 198 shares of the oil and natural gas company’s stock valued at $28,000 after acquiring an additional 102 shares during the period. Mccarter Private Wealth Services LLC boosted its holdings in Diamondback Energy by 24.1% in the third quarter. Mccarter Private Wealth Services LLC now owns 18,019 shares of the oil and natural gas company’s stock valued at $2,579,000 after acquiring an additional 3,505 shares during the last quarter. Finally, D.A. Davidson & CO. boosted its holdings in Diamondback Energy by 16.4% in the third quarter. D.A. Davidson & CO. now owns 30,158 shares of the oil and natural gas company’s stock valued at $4,316,000 after acquiring an additional 4,247 shares during the last quarter. Institutional investors own 90.01% of the company’s stock.

Insider Transactions at Diamondback Energy

In other Diamondback Energy news, Director Charles Alvin Meloy sold 377,911 shares of the firm’s stock in a transaction that occurred on Thursday, December 4th. The shares were sold at an average price of $138.61, for a total transaction of $52,382,243.71. Following the sale, the director directly owned 1,044,864 shares in the company, valued at approximately $144,828,599.04. This trade represents a 26.56% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Insiders own 0.70% of the company’s stock.

Diamondback Energy Price Performance

FANG opened at $147.66 on Friday. The stock has a market cap of $42.29 billion, a P/E ratio of 10.26 and a beta of 0.59. Diamondback Energy, Inc. has a 12 month low of $114.00 and a 12 month high of $180.91. The company has a quick ratio of 0.60, a current ratio of 0.62 and a debt-to-equity ratio of 0.35. The company has a fifty day simple moving average of $149.24 and a 200 day simple moving average of $144.83.

Diamondback Energy (NASDAQ:FANG) last posted its earnings results on Monday, November 3rd. The oil and natural gas company reported $3.08 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.94 by $0.14. Diamondback Energy had a return on equity of 9.57% and a net margin of 27.32%.The firm had revenue of $3.92 billion during the quarter, compared to analysts’ expectations of $3.48 billion. During the same period in the previous year, the firm earned $3.19 earnings per share. The company’s revenue was up 48.4% on a year-over-year basis. On average, research analysts expect that Diamondback Energy, Inc. will post 15.49 EPS for the current year.

Diamondback Energy Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, November 20th. Investors of record on Thursday, November 13th were given a $1.00 dividend. The ex-dividend date was Thursday, November 13th. This represents a $4.00 annualized dividend and a dividend yield of 2.7%. Diamondback Energy’s payout ratio is currently 27.80%.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on FANG. Evercore ISI boosted their price objective on Diamondback Energy from $165.00 to $175.00 and gave the stock an “outperform” rating in a report on Monday, October 6th. Piper Sandler dropped their price target on shares of Diamondback Energy from $222.00 to $219.00 and set an “overweight” rating for the company in a research note on Tuesday, November 18th. Barclays cut their price objective on shares of Diamondback Energy from $185.00 to $178.00 and set an “overweight” rating on the stock in a report on Tuesday, October 7th. Wells Fargo & Company lifted their target price on shares of Diamondback Energy from $160.00 to $169.00 and gave the stock an “overweight” rating in a report on Monday, November 17th. Finally, Susquehanna dropped their target price on shares of Diamondback Energy to $188.00 and set a “positive” rating for the company in a research report on Monday, October 20th. One equities research analyst has 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, the company presently has an average rating of “Buy” and an average target price of $188.67.

Diamondback Energy Company Profile

Diamondback Energy, Inc (NASDAQ: FANG) is an independent oil and natural gas company focused on the development, exploration and production of unconventional resources in the Permian Basin. Headquartered in Midland, Texas, the company concentrates its operations in the core Midland and Delaware sub‑basins of West Texas and southeastern New Mexico, where it pursues contiguous acreage positions to support repeatable drilling programs.

Diamondback’s activities span the upstream value chain, including leasehold acquisition, well planning, drilling, completion and production optimization.