Diamondback Energy, Inc. $FANG Stock Sold by Signal Advisors Wealth LLC

Signal Advisors Wealth LLC cut its stake in Diamondback Energy, Inc. (NASDAQ:FANG) by 8.5% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 45,097 shares of the oil and natural gas company’s stock after selling 4,179 shares during the period. Signal Advisors Wealth LLC’s holdings in Diamondback Energy were worth $8,289,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also modified their holdings of the company. Transamerica Financial Advisors LLC boosted its stake in Diamondback Energy by 21.0% in the 2nd quarter. Transamerica Financial Advisors LLC now owns 294 shares of the oil and natural gas company’s stock valued at $52,000 after buying an additional 51 shares in the last quarter. Capital Advisors Inc. OK grew its position in Diamondback Energy by 2.9% in the second quarter. Capital Advisors Inc. OK now owns 1,929 shares of the oil and natural gas company’s stock valued at $339,000 after acquiring an additional 54 shares during the period. Rehmann Capital Advisory Group grew its position in Diamondback Energy by 4.9% in the second quarter. Rehmann Capital Advisory Group now owns 1,251 shares of the oil and natural gas company’s stock valued at $220,000 after acquiring an additional 59 shares during the period. Wedbush Securities Inc. raised its stake in Diamondback Energy by 1.5% during the second quarter. Wedbush Securities Inc. now owns 4,979 shares of the oil and natural gas company’s stock worth $875,000 after acquiring an additional 72 shares in the last quarter. Finally, Capital Financial Group Inc. Co. ADV raised its stake in Diamondback Energy by 2.1% during the first quarter. Capital Financial Group Inc. Co. ADV now owns 3,584 shares of the oil and natural gas company’s stock worth $709,000 after acquiring an additional 75 shares in the last quarter. Institutional investors own 90.01% of the company’s stock.

Diamondback Energy Trading Up 1.6%

Shares of NASDAQ FANG opened at $198.18 on Wednesday. Diamondback Energy, Inc. has a 1-year low of $137.03 and a 1-year high of $216.90. The company has a 50-day moving average of $196.57 and a two-hundred day moving average of $194.23. The company has a market cap of $55.49 billion, a PE ratio of 12.56 and a beta of 0.55. The company has a current ratio of 0.47, a quick ratio of 0.45 and a debt-to-equity ratio of 0.25.

Diamondback Energy (NASDAQ:FANG) last announced its quarterly earnings data on Monday, August 3rd. The oil and natural gas company reported $6.48 EPS for the quarter, beating analysts’ consensus estimates of $6.08 by $0.40. The firm had revenue of $5.56 billion for the quarter, compared to analyst estimates of $4.89 billion. Diamondback Energy had a return on equity of 10.10% and a net margin of 8.58%. The business’s quarterly revenue was up 51.2% compared to the same quarter last year. During the same period last year, the company earned $2.38 EPS. As a group, equities analysts expect that Diamondback Energy, Inc. will post 20.41 earnings per share for the current fiscal year.

Diamondback Energy Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, August 20th. Stockholders of record on Thursday, August 13th were paid a $1.10 dividend. The ex-dividend date of this dividend was Thursday, August 13th. This represents a $4.40 dividend on an annualized basis and a dividend yield of 2.2%. Diamondback Energy’s dividend payout ratio is 85.77%.

Analysts Set New Price Targets

FANG has been the subject of a number of analyst reports. Roth Capital lifted their price objective on Diamondback Energy from $205.00 to $212.00 and gave the company a “buy” rating in a report on Tuesday, August 4th. Capital One Financial boosted their target price on shares of Diamondback Energy from $272.00 to $283.00 and gave the company an “overweight” rating in a research note on Wednesday, August 19th. Raymond James Financial reaffirmed a “strong-buy” rating on shares of Diamondback Energy in a report on Thursday, September 17th. Morgan Stanley reiterated an “equal weight” rating and set a $216.00 target price on shares of Diamondback Energy in a research report on Wednesday, August 19th. Finally, JPMorgan Chase & Co. lifted their price target on shares of Diamondback Energy from $211.00 to $233.00 in a report on Wednesday, August 5th. Two research analysts have rated the stock with a Strong Buy rating, twenty-four have given a Buy rating and five have issued a Hold rating to the company. According to data from MarketBeat.com, Diamondback Energy currently has an average rating of “Moderate Buy” and a consensus target price of $224.54.

Insider Buying and Selling

In other news, Director Charles Meloy sold 33,333 shares of the firm’s stock in a transaction dated Monday, October 5th. The stock was sold at an average price of $183.74, for a total transaction of $6,124,605.42. Following the sale, the director owned 759,864 shares of the company’s stock, valued at $139,617,411.36. This trade represents a 4.20% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Travis D. Stice sold 75,000 shares of the firm’s stock in a transaction that occurred on Friday, September 11th. The stock was sold at an average price of $204.31, for a total transaction of $15,323,250.00. Following the sale, the director owned 49,727 shares in the company, valued at $10,159,723.37. This trade represents a 60.13% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 141,666 shares of company stock worth $28,061,456 over the last quarter. 0.64% of the stock is currently owned by corporate insiders.

About Diamondback Energy

Diamondback Energy, Inc is an independent oil and natural gas company headquartered in Midland, Texas. The company focuses primarily on the acquisition, development, exploration and production of unconventional, onshore oil and natural gas reserves in the Permian Basin of West Texas and southeastern New Mexico.

Diamondback’s operations are concentrated in the Midland and Delaware sub-basins, where it develops properties using horizontal drilling and hydraulic fracturing. Its production includes crude oil, natural gas and natural gas liquids.