Transform Wealth LLC Has $353,000 Holdings in Diamondback Energy, Inc. (NASDAQ:FANG)

Transform Wealth LLC trimmed its holdings in Diamondback Energy, Inc. (NASDAQ:FANG) by 6.2% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 2,049 shares of the oil and natural gas company’s stock after selling 135 shares during the period. Transform Wealth LLC’s holdings in Diamondback Energy were worth $353,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors also recently modified their holdings of the company. First Community Trust NA acquired a new position in Diamondback Energy in the 2nd quarter worth $26,000. Carolinas Wealth Consulting LLC boosted its position 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 worth $27,000 after buying an additional 55 shares during the period. HHM Wealth Advisors LLC bought a new position in shares of Diamondback Energy during the second quarter worth about $40,000. Founders Capital Management raised 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 buying an additional 125 shares during the last quarter. Finally, Oliver Lagore Vanvalin Investment Group lifted its stake in Diamondback Energy by 109.7% in the 2nd 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 in the last quarter. 90.01% of the stock is currently owned by institutional investors.

Diamondback Energy Price Performance

Diamondback Energy stock opened at $182.46 on Thursday. The company has a market capitalization of $32.54 billion, a price-to-earnings ratio of 10.29, a PEG ratio of 1.22 and a beta of 1.89. The company has a current ratio of 3.66, a quick ratio of 3.64 and a debt-to-equity ratio of 0.65. Diamondback Energy, Inc. has a 12 month low of $145.70 and a 12 month high of $214.50. The stock’s 50 day moving average is $186.94 and its 200-day moving average is $194.99.

Diamondback Energy (NASDAQ:FANG) last issued its quarterly earnings data on Monday, August 5th. The oil and natural gas company reported $4.52 EPS for the quarter, beating analysts’ consensus estimates of $4.51 by $0.01. The firm had revenue of $2.48 billion for the quarter, compared to analyst estimates of $2.19 billion. Diamondback Energy had a return on equity of 19.54% and a net margin of 37.51%. During the same period in the prior year, the firm posted $3.68 EPS. The company’s revenue for the quarter was up 29.4% on a year-over-year basis. Equities research analysts expect that Diamondback Energy, Inc. will post 19.08 EPS for the current year.

Diamondback Energy Increases Dividend

The firm also recently disclosed a None dividend, which was paid on Thursday, August 22nd. Shareholders of record on Thursday, August 15th were paid a $2.34 dividend. This is a boost from Diamondback Energy’s previous None dividend of $2.26. The ex-dividend date was Thursday, August 15th. This represents a yield of 1.9%. Diamondback Energy’s payout ratio is 20.29%.

Insider Buying and Selling 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 shares were sold at an average price of $175.11, for a total value of $2,313,698,661.30. Following the completion of the sale, the insider now directly owns 1,037,819 shares in the company, valued at approximately $181,732,485.09. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Insiders own 0.48% of the company’s stock.

Analyst Upgrades and Downgrades

FANG has been the subject of several research reports. BMO Capital Markets raised shares of Diamondback Energy from a “market perform” rating to an “outperform” rating and raised their price target for the stock from $205.00 to $215.00 in a research note on Friday, October 4th. Sanford C. Bernstein lowered their price target on shares of Diamondback Energy from $243.00 to $236.00 and set an “outperform” rating on the stock in a research note on Wednesday, July 17th. Citigroup started coverage on shares of Diamondback Energy in a research note on Monday. They set a “neutral” rating and a $195.00 price objective for the company. KeyCorp lowered their target price on Diamondback Energy from $225.00 to $216.00 and set an “overweight” rating on the stock in a research report on Wednesday. Finally, Benchmark increased their price target on Diamondback Energy from $154.00 to $195.00 and gave the company a “buy” rating in a research report on Thursday, October 3rd. One investment analyst has rated the stock with a sell rating, five have given a hold rating, seventeen have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, Diamondback Energy has an average rating of “Moderate Buy” and an average price target of $210.32.

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.