Diamondback Energy, Inc. (NASDAQ:FANG) Shares Bought by Ashton Thomas Private Wealth LLC

Ashton Thomas Private Wealth LLC grew its stake in shares of Diamondback Energy, Inc. (NASDAQ:FANG) by 19.7% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 13,867 shares of the oil and natural gas company’s stock after acquiring an additional 2,281 shares during the period. Ashton Thomas Private Wealth LLC’s holdings in Diamondback Energy were worth $2,391,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of FANG. Envestnet Portfolio Solutions Inc. boosted its stake in shares of Diamondback Energy by 25.5% during the 1st quarter. Envestnet Portfolio Solutions Inc. now owns 8,419 shares of the oil and natural gas company’s stock worth $1,668,000 after purchasing an additional 1,709 shares during the last quarter. Atomi Financial Group Inc. purchased a new position in shares of Diamondback Energy during the 1st quarter worth $303,000. Concurrent Investment Advisors LLC boosted its holdings in shares of Diamondback Energy by 18.6% during the first quarter. Concurrent Investment Advisors LLC now owns 2,135 shares of the oil and natural gas company’s stock worth $423,000 after purchasing an additional 335 shares during the last quarter. QRG Capital Management Inc. grew its position in shares of Diamondback Energy by 213.8% in the first quarter. QRG Capital Management Inc. now owns 6,542 shares of the oil and natural gas company’s stock valued at $1,297,000 after purchasing an additional 4,457 shares during the period. Finally, Avantax Advisory Services Inc. increased its stake in Diamondback Energy by 2.3% in the first quarter. Avantax Advisory Services Inc. now owns 5,118 shares of the oil and natural gas company’s stock valued at $1,014,000 after purchasing an additional 114 shares during the last quarter. Hedge funds and other institutional investors own 90.01% of the company’s stock.

Diamondback Energy Price Performance

FANG stock opened at $179.91 on Wednesday. The stock’s 50 day moving average is $181.45 and its two-hundred day moving average is $191.96. Diamondback Energy, Inc. has a 52-week low of $145.70 and a 52-week high of $214.50. The company has a market capitalization of $52.53 billion, a PE ratio of 10.30, a P/E/G ratio of 1.26 and a beta of 1.89. 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 (NASDAQ:FANG) last posted its quarterly earnings results 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). The company had revenue of $2.65 billion during the quarter, compared to analyst estimates of $2.43 billion. Diamondback Energy had a net margin of 33.64% and a return on equity of 13.68%. The company’s revenue was up 13.0% on a year-over-year basis. During the same period in the prior year, the company earned $5.49 earnings per share. Analysts predict that Diamondback Energy, Inc. will post 17 earnings per share for the current fiscal year.

Diamondback Energy Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, November 21st. Investors of record on Thursday, November 14th will be paid a $0.90 dividend. The ex-dividend date of this dividend is 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 (DPR) is 20.61%.

Insider Activity at Diamondback Energy

In other news, major shareholder Lyndal Greth sold 13,212,830 shares of Diamondback Energy stock in a transaction that occurred on Monday, September 23rd. The stock was sold at an average price of $175.11, for a total value of $2,313,698,661.30. Following the completion of the transaction, the insider now owns 1,037,819 shares in the company, valued at approximately $181,732,485.09. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.48% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

A number of analysts have issued reports on the company. Morgan Stanley raised their price target on Diamondback Energy from $185.00 to $198.00 and gave the stock an “overweight” rating in a research note on Monday, September 16th. Benchmark reaffirmed a “buy” rating and set a $195.00 price target on shares of Diamondback Energy in a research note on Tuesday, October 29th. Royal Bank of Canada reissued an “outperform” rating and set a $210.00 price objective on shares of Diamondback Energy in a research note on Wednesday, November 6th. Wolfe Research initiated coverage on Diamondback Energy in a research report on Thursday, July 18th. They issued a “peer perform” rating on the stock. Finally, Sanford C. Bernstein lowered their price target on Diamondback Energy from $243.00 to $236.00 and set an “outperform” rating for the company in a research report on Wednesday, July 17th. 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 company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $209.64.

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.