Prospera Financial Services Inc Purchases 1,651 Shares of Diamondback Energy, Inc. (NASDAQ:FANG)

Prospera Financial Services Inc raised its position in Diamondback Energy, Inc. (NASDAQ:FANG) by 56.9% during the third quarter, according to the company in its most recent disclosure with the SEC. The firm owned 4,553 shares of the oil and natural gas company’s stock after acquiring an additional 1,651 shares during the quarter. Prospera Financial Services Inc’s holdings in Diamondback Energy were worth $786,000 at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of the company. Healthcare of Ontario Pension Plan Trust Fund purchased a new position in shares of Diamondback Energy during the 1st quarter worth $971,000. Natixis purchased a new position in Diamondback Energy during the first quarter valued at approximately $195,000. Axxcess Wealth Management LLC bought a new position in shares of Diamondback Energy in the first quarter worth approximately $219,000. Canada Pension Plan Investment Board increased its stake in shares of Diamondback Energy by 2,268.5% in the first quarter. Canada Pension Plan Investment Board now owns 143,176 shares of the oil and natural gas company’s stock worth $28,373,000 after purchasing an additional 137,131 shares in the last quarter. Finally, Gamco Investors INC. ET AL raised its position in shares of Diamondback Energy by 19.6% during the 1st quarter. Gamco Investors INC. ET AL now owns 6,100 shares of the oil and natural gas company’s stock valued at $1,209,000 after purchasing an additional 1,000 shares during the period. Institutional investors own 90.01% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on the company. JPMorgan Chase & Co. assumed coverage on Diamondback Energy in a report on Wednesday, October 2nd. They set an “overweight” rating and a $182.00 price target on the stock. Susquehanna decreased their price target on Diamondback Energy from $237.00 to $233.00 and set a “positive” rating on the stock in a report on Friday, October 18th. Piper Sandler raised their price target on Diamondback Energy from $240.00 to $252.00 and gave the company an “overweight” rating in a report on Tuesday, October 15th. Jefferies Financial Group assumed coverage on Diamondback Energy in a report on Monday, September 16th. They set a “hold” rating and a $185.00 price target on the stock. Finally, Johnson Rice cut Diamondback Energy from a “strong-buy” rating to a “moderate buy” rating in a report on Tuesday, September 24th. One research analyst has rated the stock with a sell rating, five have given a hold rating, seventeen have given 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 a consensus price target of $212.00.

Diamondback Energy Stock Up 1.4 %

Diamondback Energy stock opened at $185.29 on Friday. Diamondback Energy, Inc. has a twelve month low of $145.70 and a twelve month high of $214.50. The business has a fifty day moving average of $182.15 and a two-hundred day moving average of $190.81. 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 $54.10 billion, a P/E ratio of 10.61, a P/E/G ratio of 1.32 and a beta of 1.89.

Diamondback Energy (NASDAQ:FANG) last issued 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). Diamondback Energy had a net margin of 33.64% and a return on equity of 13.68%. The business had revenue of $2.65 billion for the quarter, compared to analysts’ expectations of $2.43 billion. During the same quarter in the prior year, the company posted $5.49 EPS. The business’s revenue for the quarter was up 13.0% on a year-over-year basis. On average, analysts forecast that Diamondback Energy, Inc. will post 16.37 earnings per share for the current fiscal year.

Diamondback Energy Announces Dividend

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

Insider Buying and Selling

In related 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 value of $2,313,698,661.30. Following the completion of the transaction, the insider now owns 1,037,819 shares in the company, valued at $181,732,485.09. This trade represents a 92.72 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Mark Lawrence Plaumann sold 1,150 shares of the firm’s stock in a transaction 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 transaction, the director now owns 4,712 shares of the company’s stock, valued at $852,872. This trade represents a 19.62 % decrease in their position. The disclosure for this sale can be found here. 0.48% of the stock is currently owned by company insiders.

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.