10,357 Shares in Diamondback Energy, Inc. (NASDAQ:FANG) Bought by Stratos Wealth Advisors LLC

Stratos Wealth Advisors LLC purchased a new position in shares of Diamondback Energy, Inc. (NASDAQ:FANG) in the 3rd quarter, HoldingsChannel reports. The institutional investor purchased 10,357 shares of the oil and natural gas company’s stock, valued at approximately $1,786,000.

Several other hedge funds have also recently modified their holdings of FANG. First Community Trust NA acquired a new stake in shares of Diamondback Energy during the second quarter worth $26,000. Carolinas Wealth Consulting LLC lifted its holdings 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 purchasing an additional 55 shares during the period. HHM Wealth Advisors LLC acquired a new stake in shares of Diamondback Energy during the second quarter worth $40,000. Founders Capital Management lifted its holdings in Diamondback Energy by 99.2% in the second quarter. Founders Capital Management now owns 251 shares of the oil and natural gas company’s stock valued at $50,000 after acquiring an additional 125 shares during the period. Finally, CVA Family Office LLC lifted its holdings in Diamondback Energy by 28.1% in the third quarter. CVA Family Office LLC now owns 296 shares of the oil and natural gas company’s stock valued at $51,000 after acquiring an additional 65 shares during the period. 90.01% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on the company. StockNews.com downgraded Diamondback Energy from a “buy” rating to a “hold” rating in a report on Saturday, July 6th. Scotiabank reduced their target price on Diamondback Energy from $245.00 to $225.00 and set a “sector outperform” rating for the company in a report on Thursday, October 10th. Morgan Stanley raised their target price on Diamondback Energy from $185.00 to $198.00 and gave the company an “overweight” rating in a report on Monday, September 16th. Royal Bank of Canada reissued an “outperform” rating and issued a $220.00 target price on shares of Diamondback Energy in a report on Tuesday, September 17th. Finally, Wells Fargo & Company reissued a “sector outperform” rating on shares of Diamondback Energy in a report on Friday. 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 given a strong buy rating to the stock. Based on data from MarketBeat, Diamondback Energy presently has a consensus rating of “Moderate Buy” and an average target price of $210.09.

Insider Buying and Selling at Diamondback Energy

In other Diamondback Energy news, major shareholder Lyndal Greth sold 13,212,830 shares of Diamondback Energy stock in a transaction dated 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 sale, the insider now owns 1,037,819 shares in the company, valued at $181,732,485.09. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 0.48% of the stock is owned by company insiders.

Diamondback Energy Stock Up 0.0 %

FANG opened at $183.99 on Monday. The company has a debt-to-equity ratio of 0.65, a current ratio of 3.66 and a quick ratio of 3.64. The stock has a market capitalization of $32.81 billion, a price-to-earnings ratio of 10.37, a price-to-earnings-growth ratio of 1.22 and a beta of 1.89. The business has a 50-day moving average of $186.35 and a two-hundred day moving average of $194.71. Diamondback Energy, Inc. has a 12 month low of $145.70 and a 12 month high of $214.50.

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

Diamondback Energy Increases Dividend

The firm also recently declared a None dividend, which was paid on Thursday, August 22nd. Shareholders of record on Thursday, August 15th were issued 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%.

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.