Arkadios Wealth Advisors Acquires 157 Shares of Diamondback Energy, Inc. (NASDAQ:FANG)

Arkadios Wealth Advisors raised its holdings in shares of Diamondback Energy, Inc. (NASDAQ:FANG) by 2.7% during the third quarter, HoldingsChannel reports. The fund owned 5,873 shares of the oil and natural gas company’s stock after purchasing an additional 157 shares during the quarter. Arkadios Wealth Advisors’ holdings in Diamondback Energy were worth $1,012,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also recently made changes to their positions in the company. Wealthcare Advisory Partners LLC purchased a new stake in Diamondback Energy during the 1st quarter worth about $233,000. Wealth Enhancement Advisory Services LLC increased its position in shares of Diamondback Energy by 9.7% during the first quarter. Wealth Enhancement Advisory Services LLC now owns 10,980 shares of the oil and natural gas company’s stock valued at $2,176,000 after buying an additional 967 shares during the period. Hennion & Walsh Asset Management Inc. lifted its holdings in shares of Diamondback Energy by 27.7% in the first quarter. Hennion & Walsh Asset Management Inc. now owns 7,326 shares of the oil and natural gas company’s stock worth $1,452,000 after buying an additional 1,589 shares in the last quarter. Park Place Capital Corp bought a new position in shares of Diamondback Energy in the first quarter valued at approximately $236,000. Finally, Vaughan Nelson Investment Management L.P. grew its stake in Diamondback Energy by 2.1% during the first quarter. Vaughan Nelson Investment Management L.P. now owns 327,792 shares of the oil and natural gas company’s stock valued at $64,959,000 after acquiring an additional 6,828 shares in the last quarter. Hedge funds and other institutional investors own 90.01% of the company’s stock.

Wall Street Analyst Weigh In

FANG has been the subject of several analyst reports. KeyCorp cut their price target on shares of Diamondback Energy from $225.00 to $216.00 and set an “overweight” rating for the company in a report on Wednesday, October 16th. Royal Bank of Canada reissued an “outperform” rating and set a $220.00 price objective on shares of Diamondback Energy in a research note on Tuesday, September 17th. UBS Group decreased their target price on Diamondback Energy from $247.00 to $223.00 and set a “buy” rating on the stock in a research note on Wednesday, September 18th. Evercore ISI dropped their price target on Diamondback Energy from $235.00 to $209.00 and set an “outperform” rating for the company in a research report on Monday, September 30th. Finally, Susquehanna decreased their price objective on shares of Diamondback Energy from $237.00 to $233.00 and set a “positive” rating on the stock in a research report on Friday, October 18th. 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 given a strong buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $210.09.

Insiders Place Their Bets

In other news, major shareholder Lyndal Greth sold 13,212,830 shares of the stock in a transaction dated 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 sale, the insider now directly owns 1,037,819 shares in the company, valued at approximately $181,732,485.09. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 0.48% of the company’s stock.

Diamondback Energy Stock Up 1.9 %

FANG opened at $184.38 on Monday. The company has a market cap of $32.88 billion, a P/E ratio of 10.39, a P/E/G ratio of 1.27 and a beta of 1.89. Diamondback Energy, Inc. has a 12 month low of $145.70 and a 12 month high of $214.50. The business’s 50-day moving average price is $184.90 and its 200-day moving average price is $193.93. 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 (NASDAQ:FANG) last announced its quarterly earnings results on Monday, August 5th. The oil and natural gas company reported $4.52 EPS for the quarter, topping analysts’ consensus estimates of $4.51 by $0.01. Diamondback Energy had a return on equity of 19.54% and a net margin of 37.51%. The business had revenue of $2.48 billion for the quarter, compared to analysts’ expectations of $2.19 billion. During the same period in the previous year, the firm earned $3.68 EPS. The business’s quarterly revenue was up 29.4% on a year-over-year basis. On average, equities analysts expect that Diamondback Energy, Inc. will post 17.37 EPS for the current year.

Diamondback Energy Increases Dividend

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

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.