Kingswood Wealth Advisors LLC Cuts Stake in Diamondback Energy, Inc. (NASDAQ:FANG)

Kingswood Wealth Advisors LLC reduced its position in Diamondback Energy, Inc. (NASDAQ:FANG) by 18.8% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,357 shares of the oil and natural gas company’s stock after selling 314 shares during the quarter. Kingswood Wealth Advisors LLC’s holdings in Diamondback Energy were worth $222,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in FANG. Franklin Resources Inc. lifted its position in shares of Diamondback Energy by 48.5% in the 3rd quarter. Franklin Resources Inc. now owns 146,870 shares of the oil and natural gas company’s stock worth $28,008,000 after purchasing an additional 47,951 shares during the period. Benjamin Edwards Inc. boosted its position in Diamondback Energy by 368.1% during the 3rd quarter. Benjamin Edwards Inc. now owns 9,784 shares of the oil and natural gas company’s stock valued at $1,687,000 after acquiring an additional 7,694 shares in the last quarter. Everence Capital Management Inc. purchased a new position in shares of Diamondback Energy in the 4th quarter valued at $1,053,000. Geode Capital Management LLC raised its position in shares of Diamondback Energy by 6.1% in the 3rd quarter. Geode Capital Management LLC now owns 4,618,560 shares of the oil and natural gas company’s stock worth $793,611,000 after acquiring an additional 266,299 shares in the last quarter. Finally, Atria Investments Inc lifted its stake in shares of Diamondback Energy by 18.5% during the 3rd quarter. Atria Investments Inc now owns 42,678 shares of the oil and natural gas company’s stock worth $7,358,000 after purchasing an additional 6,672 shares during the last quarter. 90.01% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other Diamondback Energy 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 transaction 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 represents a 19.62 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.48% of the stock is currently owned by company insiders.

Diamondback Energy Trading Down 3.6 %

Shares of Diamondback Energy stock opened at $164.36 on Friday. Diamondback Energy, Inc. has a fifty-two week low of $147.93 and a fifty-two week high of $214.50. The company has a debt-to-equity ratio of 0.31, a quick ratio of 0.42 and a current ratio of 0.45. The company has a market cap of $47.99 billion, a P/E ratio of 9.41, a price-to-earnings-growth ratio of 1.33 and a beta of 1.88. The firm has a 50-day simple moving average of $168.98 and a two-hundred day simple moving average of $181.00.

Diamondback Energy (NASDAQ:FANG) last issued its quarterly earnings results on Monday, November 4th. The oil and natural gas company reported $3.38 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $4.62 by ($1.24). The business had revenue of $2.65 billion for the quarter, compared to analysts’ expectations of $2.43 billion. Diamondback Energy had a return on equity of 13.68% and a net margin of 33.64%. The business’s revenue for the quarter was up 13.0% compared to the same quarter last year. During the same quarter in the prior year, the company posted $5.49 EPS. As a group, equities analysts predict that Diamondback Energy, Inc. will post 15.55 earnings per share for the current fiscal year.

Diamondback Energy Dividend Announcement

The business also recently declared 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 was Thursday, November 14th. This represents a $3.60 dividend on an annualized basis and a yield of 2.19%. Diamondback Energy’s dividend payout ratio is currently 20.61%.

Wall Street Analysts Forecast Growth

FANG has been the topic of several analyst reports. JPMorgan Chase & Co. lifted their target price on Diamondback Energy from $191.00 to $195.00 and gave the company an “overweight” rating in a research note on Friday, January 17th. Royal Bank of Canada reiterated an “outperform” rating and set a $210.00 price objective on shares of Diamondback Energy in a research note on Thursday, January 23rd. StockNews.com raised shares of Diamondback Energy from a “sell” rating to a “hold” rating in a report on Wednesday, November 13th. Scotiabank decreased their price objective 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. Finally, Citigroup started coverage on Diamondback Energy in a research note on Monday, October 14th. They set a “neutral” rating and a $195.00 target price on the stock. Four investment analysts have rated the stock with a hold rating, eighteen have issued a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, Diamondback Energy presently has an average rating of “Moderate Buy” and a consensus price target of $215.00.

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.