Raymond James Trust N.A. Has $3 Million Stock Holdings in Diamondback Energy, Inc. (NASDAQ:FANG)

Raymond James Trust N.A. raised its position in shares of Diamondback Energy, Inc. (NASDAQ:FANG) by 21.0% in the 3rd quarter, Holdings Channel reports. The firm owned 17,370 shares of the oil and natural gas company’s stock after acquiring an additional 3,019 shares during the period. Raymond James Trust N.A.’s holdings in Diamondback Energy were worth $2,995,000 at the end of the most recent reporting period.

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

Diamondback Energy Price Performance

Shares of NASDAQ FANG opened at $185.29 on Friday. The firm has a market capitalization of $54.10 billion, a P/E ratio of 10.61, a P/E/G ratio of 1.32 and a beta of 1.89. The firm’s 50-day moving average price is $182.15 and its 200-day moving average price is $190.81. The company has a current ratio of 0.45, a quick ratio of 0.42 and a debt-to-equity ratio of 0.31. Diamondback Energy, Inc. has a 1-year low of $145.70 and a 1-year high of $214.50.

Diamondback Energy (NASDAQ:FANG) last announced its quarterly earnings data on Monday, November 4th. The oil and natural gas company reported $3.38 EPS for the quarter, missing analysts’ consensus estimates of $4.62 by ($1.24). Diamondback Energy had a net margin of 33.64% and a return on equity of 13.68%. The firm had revenue of $2.65 billion during the quarter, compared to analyst estimates of $2.43 billion. During the same period last year, the business posted $5.49 EPS. The company’s revenue was up 13.0% on a year-over-year basis. Equities research analysts anticipate that Diamondback Energy, Inc. will post 16.37 earnings per share for the current fiscal year.

Diamondback Energy Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, November 21st. Shareholders of record on Thursday, November 14th were paid a $0.90 dividend. This represents a $3.60 dividend on an annualized basis and a dividend yield of 1.94%. The ex-dividend date of this dividend was Thursday, November 14th. Diamondback Energy’s dividend payout ratio (DPR) is 20.61%.

Insider Activity

In other news, Director Mark Lawrence Plaumann sold 1,150 shares of the stock in a transaction that occurred on Wednesday, November 13th. The stock was sold at an average price of $181.00, for a total value of $208,150.00. Following the completion of the sale, the director now directly owns 4,712 shares of the company’s stock, valued at $852,872. This represents a 19.62 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, 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 transaction, the insider now directly owns 1,037,819 shares in the company, valued at approximately $181,732,485.09. The trade was a 92.72 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.48% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on FANG. Scotiabank reduced their price objective on Diamondback Energy from $245.00 to $225.00 and set a “sector outperform” rating on the stock in a research report on Thursday, October 10th. Piper Sandler raised their price objective on shares of Diamondback Energy from $240.00 to $252.00 and gave the company an “overweight” rating in a report on Tuesday, October 15th. Johnson Rice lowered shares of Diamondback Energy from a “strong-buy” rating to a “moderate buy” rating in a report on Tuesday, September 24th. UBS Group dropped their price target on shares of Diamondback Energy from $247.00 to $223.00 and set a “buy” rating for the company in a research note on Wednesday, September 18th. Finally, Benchmark restated a “buy” rating and issued a $195.00 price objective on shares of Diamondback Energy in a report on Tuesday, October 29th. One research analyst has rated the stock with a sell rating, five have given a hold rating, seventeen have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, Diamondback Energy presently has a consensus rating of “Moderate Buy” and an average target price of $212.00.

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.