Diamondback Energy, Inc. (NASDAQ:FANG) Shares Purchased by Kingsview Wealth Management LLC

Kingsview Wealth Management LLC boosted its holdings in Diamondback Energy, Inc. (NASDAQ:FANG) by 3.1% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 44,570 shares of the oil and natural gas company’s stock after acquiring an additional 1,344 shares during the quarter. Kingsview Wealth Management LLC’s holdings in Diamondback Energy were worth $7,684,000 at the end of the most recent quarter.

Other large investors have also recently added to or reduced their stakes in the company. First Community Trust NA acquired a new stake in Diamondback Energy in the 2nd quarter valued at approximately $26,000. Carolinas Wealth Consulting LLC increased its position in Diamondback Energy by 67.1% in the 2nd quarter. Carolinas Wealth Consulting LLC now owns 137 shares of the oil and natural gas company’s stock valued at $27,000 after acquiring an additional 55 shares during the period. HHM Wealth Advisors LLC acquired a new stake in Diamondback Energy in the 2nd quarter valued at approximately $40,000. Values First Advisors Inc. acquired a new stake in Diamondback Energy in the 3rd quarter valued at approximately $42,000. Finally, Founders Capital Management increased its position in Diamondback Energy by 99.2% in the 2nd quarter. Founders Capital Management now owns 251 shares of the oil and natural gas company’s stock valued at $50,000 after acquiring an additional 125 shares during the period. 90.01% of the stock is currently owned by institutional investors and hedge funds.

Diamondback Energy Stock Performance

Shares of Diamondback Energy stock opened at $185.29 on Friday. The company has a quick ratio of 0.42, a current ratio of 0.45 and a debt-to-equity ratio of 0.31. Diamondback Energy, Inc. has a 12 month low of $145.70 and a 12 month high of $214.50. The business has a fifty day simple moving average of $182.15 and a 200-day simple moving average of $190.72. The stock has a market cap of $54.10 billion, a PE ratio of 10.61, a price-to-earnings-growth ratio of 1.34 and a beta of 1.89.

Diamondback Energy (NASDAQ:FANG) last announced its quarterly earnings data on Monday, November 4th. The oil and natural gas company reported $3.38 earnings per share (EPS) for the quarter, missing the consensus estimate of $4.62 by ($1.24). Diamondback Energy had a return on equity of 13.68% and a net margin of 33.64%. The firm had revenue of $2.65 billion for the quarter, compared to analysts’ expectations of $2.43 billion. During the same quarter in the prior year, the business posted $5.49 earnings per share. Diamondback Energy’s revenue was up 13.0% on a year-over-year basis. On average, sell-side analysts anticipate that Diamondback Energy, Inc. will post 16.35 EPS for the current fiscal year.

Diamondback Energy Dividend Announcement

The business 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 annualized dividend and a yield of 1.94%. Diamondback Energy’s dividend payout ratio (DPR) is currently 20.61%.

Analysts Set New Price Targets

Several research firms recently commented on FANG. Barclays upgraded Diamondback Energy from an “equal weight” rating to an “overweight” rating and lowered their target price for the company from $216.00 to $210.00 in a research report on Wednesday, October 2nd. Scotiabank decreased their price target on Diamondback Energy from $245.00 to $225.00 and set a “sector outperform” rating for the company in a research note on Thursday, October 10th. Truist Financial increased their price target on Diamondback Energy from $220.00 to $230.00 and gave the company a “buy” rating in a research note on Wednesday, October 16th. Morgan Stanley increased their price target on Diamondback Energy from $185.00 to $198.00 and gave the company an “overweight” rating in a research note on Monday, September 16th. Finally, StockNews.com raised Diamondback Energy from a “sell” rating to a “hold” rating in a research note on Wednesday, November 13th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating, seventeen have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, Diamondback Energy currently has a consensus rating of “Moderate Buy” and an average price target of $212.00.

Insider Buying and Selling at Diamondback Energy

In other Diamondback Energy news, Director Mark Lawrence Plaumann sold 1,150 shares of the firm’s stock in a transaction dated Wednesday, November 13th. The stock was sold at an average price of $181.00, for a total transaction of $208,150.00. Following the transaction, the director now directly owns 4,712 shares in the company, valued at $852,872. This trade represents a 19.62 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, major shareholder Lyndal Greth sold 13,212,830 shares of the firm’s stock in a transaction dated Monday, September 23rd. The shares were sold at an average price of $175.11, for a total value of $2,313,698,661.30. Following the transaction, the insider now owns 1,037,819 shares in the company, valued at approximately $181,732,485.09. This trade represents a 92.72 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate 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.