Diamondback Energy, Inc. (NASDAQ:FANG) Shares Sold by NorthRock Partners LLC

NorthRock Partners LLC cut its holdings in shares of Diamondback Energy, Inc. (NASDAQ:FANG) by 51.6% in the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 1,678 shares of the oil and natural gas company’s stock after selling 1,788 shares during the period. NorthRock Partners LLC’s holdings in Diamondback Energy were worth $289,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the business. First Community Trust NA acquired a new position in Diamondback Energy during the 2nd quarter worth $26,000. Carolinas Wealth Consulting LLC grew 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 buying an additional 55 shares in the last quarter. HHM Wealth Advisors LLC acquired a new position in Diamondback Energy during the 2nd quarter valued at about $40,000. Values First Advisors Inc. bought a new stake in shares of Diamondback Energy during the 3rd quarter worth about $42,000. Finally, Founders Capital Management lifted its stake in shares of 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 worth $50,000 after acquiring an additional 125 shares during the period. 90.01% of the stock is owned by institutional investors.

Diamondback Energy Trading Up 4.5 %

Shares of FANG stock opened at $183.62 on Thursday. Diamondback Energy, Inc. has a 12 month low of $145.70 and a 12 month high of $214.50. The company has a market cap of $54.12 billion, a PE ratio of 9.49, a price-to-earnings-growth ratio of 1.23 and a beta of 1.89. The company has a quick ratio of 3.64, a current ratio of 3.66 and a debt-to-equity ratio of 0.65. The business’s 50 day moving average is $182.34 and its two-hundred day moving average is $192.55.

Diamondback Energy (NASDAQ:FANG) last released 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 analysts’ consensus estimates of $4.62 by ($1.24). The firm had revenue of $2.65 billion for the quarter, compared to the consensus estimate of $2.43 billion. Diamondback Energy had a net margin of 37.51% and a return on equity of 19.54%. The firm’s revenue was up 13.0% on a year-over-year basis. During the same quarter last year, the company earned $5.49 earnings per share. Equities analysts predict that Diamondback Energy, Inc. will post 17.1 EPS for the current year.

Diamondback Energy Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, November 21st. Stockholders of record on Thursday, November 14th will be issued a dividend of $0.90 per share. The ex-dividend date is Thursday, November 14th. This represents a $3.60 dividend on an annualized basis and a dividend yield of 1.96%. Diamondback Energy’s dividend payout ratio (DPR) is presently 18.60%.

Insider Activity

In related news, major shareholder Lyndal Greth sold 13,212,830 shares of the company’s stock in a transaction on Monday, September 23rd. The shares were sold at an average price of $175.11, for a total transaction of $2,313,698,661.30. Following the completion of the transaction, the insider now directly owns 1,037,819 shares in the company, valued at $181,732,485.09. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.48% of the stock is owned by company insiders.

Analysts Set New Price Targets

Several equities research analysts recently commented on FANG shares. Scotiabank dropped their target price on Diamondback Energy from $245.00 to $225.00 and set a “sector outperform” rating on the stock in a report on Thursday, October 10th. Citigroup assumed coverage on Diamondback Energy in a research note on Monday, October 14th. They issued a “neutral” rating and a $195.00 price objective on the stock. Truist Financial raised their target price on Diamondback Energy from $220.00 to $230.00 and gave the company a “buy” rating in a research note on Wednesday, October 16th. Barclays upgraded shares of Diamondback Energy from an “equal weight” rating to an “overweight” rating and dropped their price target for the stock from $216.00 to $210.00 in a research report on Wednesday, October 2nd. Finally, UBS Group reduced their target price on shares of Diamondback Energy from $247.00 to $223.00 and set a “buy” rating for the company in a report on Wednesday, September 18th. Two investment analysts have rated the stock with a sell rating, four have issued a hold rating, seventeen have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, Diamondback Energy has an average rating of “Moderate Buy” and an average target price of $209.64.

Diamondback Energy 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.