RPG Investment Advisory LLC Reduces Stock Position in Diamondback Energy, Inc. (NASDAQ:FANG)

RPG Investment Advisory LLC reduced its holdings in Diamondback Energy, Inc. (NASDAQ:FANG) by 1.2% in the third quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 75,826 shares of the oil and natural gas company’s stock after selling 936 shares during the period. Diamondback Energy makes up 1.9% of RPG Investment Advisory LLC’s portfolio, making the stock its 20th largest holding. RPG Investment Advisory LLC’s holdings in Diamondback Energy were worth $13,072,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. First Community Trust NA purchased a new position in shares of Diamondback Energy in the 2nd quarter worth $26,000. Carolinas Wealth Consulting LLC boosted its stake in shares of Diamondback Energy by 67.1% during the 2nd quarter. Carolinas Wealth Consulting LLC now owns 137 shares of the oil and natural gas company’s stock worth $27,000 after purchasing an additional 55 shares during the period. HHM Wealth Advisors LLC purchased a new position in shares of Diamondback Energy during the 2nd quarter worth about $40,000. Values First Advisors Inc. purchased a new position in shares of Diamondback Energy during the 3rd quarter worth about $42,000. Finally, Founders Capital Management boosted its stake in shares of Diamondback Energy by 99.2% during the 2nd quarter. Founders Capital Management now owns 251 shares of the oil and natural gas company’s stock worth $50,000 after purchasing an additional 125 shares during the period. 90.01% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities analysts recently commented on FANG shares. Johnson Rice cut shares of Diamondback Energy from a “strong-buy” rating to a “moderate buy” rating in a research note on Tuesday, September 24th. Piper Sandler lifted their price target on shares of Diamondback Energy from $240.00 to $252.00 and gave the stock an “overweight” rating in a research note on Tuesday, October 15th. Benchmark reissued a “buy” rating and issued a $195.00 price objective on shares of Diamondback Energy in a research report on Tuesday, October 29th. StockNews.com raised shares of Diamondback Energy from a “sell” rating to a “hold” rating in a research report on Wednesday. Finally, Susquehanna lowered their price objective on shares of Diamondback Energy from $237.00 to $233.00 and set a “positive” rating for the company in a research report on Friday, October 18th. One analyst has rated the stock with a sell rating, five have assigned a hold rating, seventeen have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $209.64.

Diamondback Energy Trading Up 0.4 %

NASDAQ FANG opened at $179.91 on Wednesday. The company has a quick ratio of 0.42, a current ratio of 0.45 and a debt-to-equity ratio of 0.31. The firm has a market cap of $52.53 billion, a PE ratio of 10.30, a price-to-earnings-growth ratio of 1.26 and a beta of 1.89. The company has a 50 day moving average price of $181.45 and a 200 day moving average price of $191.96. Diamondback Energy, Inc. has a 52 week low of $145.70 and a 52 week high of $214.50.

Diamondback Energy (NASDAQ:FANG) last posted its quarterly earnings data on Monday, November 4th. The oil and natural gas company reported $3.38 EPS for the quarter, missing the consensus estimate 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 return on equity of 13.68% and a net margin of 33.64%. The company’s revenue was up 13.0% compared to the same quarter last year. During the same quarter last year, the firm earned $5.49 EPS. As a group, sell-side analysts forecast that Diamondback Energy, Inc. will post 17 EPS for the current fiscal year.

Diamondback Energy Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, November 21st. Investors of record on Thursday, November 14th will be paid a dividend of $0.90 per share. The ex-dividend date is Thursday, November 14th. This represents a $3.60 annualized dividend and a dividend yield of 2.00%. Diamondback Energy’s dividend payout ratio (DPR) is presently 20.61%.

Insider Buying and Selling

In other Diamondback Energy news, major shareholder Lyndal Greth sold 13,212,830 shares of the company’s stock in a transaction that occurred 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 transaction, the insider now owns 1,037,819 shares in the company, valued at approximately $181,732,485.09. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 0.48% of the stock is currently owned by company insiders.

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.