Integrated Advisors Network LLC Sells 7,172 Shares of Diamondback Energy, Inc. (NASDAQ:FANG)

Integrated Advisors Network LLC trimmed its holdings in Diamondback Energy, Inc. (NASDAQ:FANG) by 69.4% in the 3rd quarter, HoldingsChannel reports. The firm owned 3,156 shares of the oil and natural gas company’s stock after selling 7,172 shares during the quarter. Integrated Advisors Network LLC’s holdings in Diamondback Energy were worth $544,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in the stock. Quent Capital LLC lifted its holdings in shares of Diamondback Energy by 7.2% in the second quarter. Quent Capital LLC now owns 809 shares of the oil and natural gas company’s stock worth $162,000 after buying an additional 54 shares in the last quarter. Carolinas Wealth Consulting LLC increased its holdings 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 acquiring an additional 55 shares during the last quarter. Sugarloaf Wealth Management LLC lifted its stake in Diamondback Energy by 0.3% in the 2nd quarter. Sugarloaf Wealth Management LLC now owns 19,975 shares of the oil and natural gas company’s stock worth $3,999,000 after purchasing an additional 56 shares in the last quarter. Versant Capital Management Inc boosted its holdings in shares of Diamondback Energy by 16.1% during the 2nd quarter. Versant Capital Management Inc now owns 412 shares of the oil and natural gas company’s stock valued at $82,000 after purchasing an additional 57 shares during the last quarter. Finally, Confluence Investment Management LLC grew its position in shares of Diamondback Energy by 1.6% during the second quarter. Confluence Investment Management LLC now owns 3,667 shares of the oil and natural gas company’s stock valued at $734,000 after purchasing an additional 58 shares in the last quarter. 90.01% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research firms recently commented on FANG. Morgan Stanley boosted their target price on Diamondback Energy from $185.00 to $198.00 and gave the stock an “overweight” rating in a research report on Monday, September 16th. Bank of America increased their target price on Diamondback Energy from $201.00 to $215.00 and gave the company a “neutral” rating in a research report on Tuesday, July 23rd. Truist Financial boosted their price target on shares of Diamondback Energy from $220.00 to $230.00 and gave the stock a “buy” rating in a research report on Wednesday, October 16th. Barclays upgraded shares of Diamondback Energy from an “equal weight” rating to an “overweight” rating and lowered their price objective for the company from $216.00 to $210.00 in a research report on Wednesday, October 2nd. Finally, Benchmark reissued a “buy” rating and issued a $195.00 price objective on shares of Diamondback Energy in a research note on Tuesday. One analyst has rated the stock with a sell rating, five have assigned a hold rating, seventeen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, Diamondback Energy presently has an average rating of “Moderate Buy” and an average target price of $210.09.

Diamondback Energy Trading Up 0.1 %

FANG stock opened at $176.77 on Friday. Diamondback Energy, Inc. has a 12 month low of $145.70 and a 12 month high of $214.50. The firm’s 50-day moving average is $183.68 and its 200 day moving average is $193.27. The company has a market capitalization of $52.10 billion, a PE ratio of 9.14, a P/E/G ratio of 1.27 and a beta of 1.89. The company has a debt-to-equity ratio of 0.65, a current ratio of 3.66 and a quick ratio of 3.64.

Diamondback Energy (NASDAQ:FANG) last issued its 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. The business had revenue of $2.48 billion for the quarter, compared to analyst estimates of $2.19 billion. Diamondback Energy had a net margin of 37.51% and a return on equity of 19.54%. The company’s quarterly revenue was up 29.4% compared to the same quarter last year. During the same period last year, the company posted $3.68 earnings per share. On average, research analysts anticipate that Diamondback Energy, Inc. will post 17.37 EPS for the current year.

Diamondback Energy Increases Dividend

The company also recently announced 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 of this dividend was Thursday, August 15th. This is a positive change from Diamondback Energy’s previous None dividend of $2.26. This represents a yield of 1.9%. Diamondback Energy’s payout ratio is 18.60%.

Insiders Place Their Bets

In other news, major shareholder Lyndal Greth sold 13,212,830 shares of the firm’s stock in a transaction on Monday, September 23rd. The stock was 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 trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Company insiders own 0.48% of the company’s stock.

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.