TrueWealth Advisors LLC Sells 178 Shares of Diamondback Energy, Inc. (NASDAQ:FANG)

TrueWealth Advisors LLC lessened its stake in Diamondback Energy, Inc. (NASDAQ:FANG) by 5.9% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 2,860 shares of the oil and natural gas company’s stock after selling 178 shares during the period. TrueWealth Advisors LLC’s holdings in Diamondback Energy were worth $469,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of FANG. Carolinas Wealth Consulting LLC boosted its stake in shares of Diamondback Energy by 67.1% during the second quarter. Carolinas Wealth Consulting LLC now owns 137 shares of the oil and natural gas company’s stock valued at $27,000 after purchasing an additional 55 shares during the period. Values First Advisors Inc. purchased a new stake in Diamondback Energy during the 3rd quarter valued at $42,000. CVA Family Office LLC grew its holdings in Diamondback Energy by 28.1% in the 3rd quarter. CVA Family Office LLC now owns 296 shares of the oil and natural gas company’s stock worth $51,000 after acquiring an additional 65 shares during the last quarter. Oliver Lagore Vanvalin Investment Group increased its position in shares of Diamondback Energy by 109.7% in the second quarter. Oliver Lagore Vanvalin Investment Group now owns 260 shares of the oil and natural gas company’s stock valued at $52,000 after acquiring an additional 136 shares during the period. Finally, Ashton Thomas Securities LLC purchased a new stake in shares of Diamondback Energy during the third quarter worth about $52,000. 90.01% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research firms have commented on FANG. Wells Fargo & Company upped their price target on Diamondback Energy from $218.00 to $219.00 and gave the company an “overweight” rating in a research report on Tuesday, December 17th. Royal Bank of Canada reissued an “outperform” rating and set a $210.00 price objective on shares of Diamondback Energy in a research report on Wednesday, November 6th. UBS Group dropped their target price on shares of Diamondback Energy from $235.00 to $212.00 and set a “buy” rating for the company in a research report on Monday, December 9th. Evercore ISI lowered their price objective on shares of Diamondback Energy from $235.00 to $209.00 and set an “outperform” rating for the company in a report on Monday, September 30th. Finally, Piper Sandler reduced their target price on Diamondback Energy from $252.00 to $232.00 and set an “overweight” rating on the stock in a report on Tuesday, December 17th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating, eighteen have assigned a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat.com, Diamondback Energy currently has an average rating of “Moderate Buy” and a consensus price target of $210.63.

Diamondback Energy Price Performance

NASDAQ FANG opened at $180.18 on Friday. The company has a debt-to-equity ratio of 0.31, a current ratio of 0.45 and a quick ratio of 0.42. Diamondback Energy, Inc. has a 1-year low of $147.93 and a 1-year high of $214.50. The stock has a market capitalization of $52.61 billion, a price-to-earnings ratio of 10.31, a PEG ratio of 1.33 and a beta of 1.88. The business’s fifty day moving average price is $170.60 and its 200-day moving average price is $183.24.

Diamondback Energy (NASDAQ:FANG) last posted its earnings results on Monday, November 4th. The oil and natural gas company reported $3.38 earnings per share for the quarter, missing analysts’ consensus estimates of $4.62 by ($1.24). Diamondback Energy had a net margin of 33.64% and a return on equity of 13.68%. The firm had revenue of $2.65 billion during the quarter, compared to the consensus estimate of $2.43 billion. During the same period in the prior year, the company posted $5.49 EPS. The firm’s revenue was up 13.0% compared to the same quarter last year. On average, equities analysts predict that Diamondback Energy, Inc. will post 16.08 earnings per share 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 issued a dividend of $0.90 per share. The ex-dividend date was Thursday, November 14th. This represents a $3.60 dividend on an annualized basis and a yield of 2.00%. Diamondback Energy’s dividend payout ratio is currently 20.61%.

Insiders Place Their Bets

In other Diamondback Energy news, Director Mark Lawrence Plaumann sold 1,150 shares of the company’s stock in a transaction dated Wednesday, November 13th. The stock was sold at an average price of $181.00, for a total value of $208,150.00. Following the completion of the sale, the director now owns 4,712 shares in the company, valued at $852,872. This represents a 19.62 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Insiders own 0.48% of the company’s stock.

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.