Central Valley Advisors LLC Has $1.68 Million Stock Position in Diamondback Energy, Inc. (NASDAQ:FANG)

Central Valley Advisors LLC grew its stake in Diamondback Energy, Inc. (NASDAQ:FANG) by 5.8% in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 9,746 shares of the oil and natural gas company’s stock after buying an additional 532 shares during the quarter. Central Valley Advisors LLC’s holdings in Diamondback Energy were worth $1,680,000 at the end of the most recent reporting period.

Several other large investors also recently made changes to their positions in FANG. Founders Capital Management grew its stake in shares of Diamondback Energy by 404.0% during the 1st quarter. Founders Capital Management now owns 126 shares of the oil and natural gas company’s stock worth $25,000 after acquiring an additional 101 shares in the last quarter. First Community Trust NA bought a new stake in Diamondback Energy during the 2nd quarter worth about $26,000. Carolinas Wealth Consulting LLC boosted its stake in shares of Diamondback Energy by 67.1% during the 2nd quarter. Carolinas Wealth Consulting LLC now owns 137 shares of the oil and natural gas company’s stock worth $27,000 after buying an additional 55 shares during the last quarter. Logan Capital Management Inc. bought a new position in shares of Diamondback Energy in the 4th quarter valued at about $31,000. Finally, HHM Wealth Advisors LLC acquired a new stake in shares of Diamondback Energy in the second quarter valued at about $40,000. Institutional investors own 90.01% of the company’s stock.

Analysts Set New Price Targets

Several brokerages recently commented on FANG. BMO Capital Markets raised Diamondback Energy from a “market perform” rating to an “outperform” rating and increased their price target for the company from $205.00 to $215.00 in a research report on Friday. Benchmark raised their target price on shares of Diamondback Energy from $154.00 to $195.00 and gave the company a “buy” rating in a research note on Thursday. Piper Sandler cut their price target on shares of Diamondback Energy from $249.00 to $240.00 and set an “overweight” rating for the company in a research note on Thursday, August 15th. Evercore ISI dropped their target price on shares of Diamondback Energy from $235.00 to $209.00 and set an “outperform” rating on the stock in a report on Monday, September 30th. Finally, Wolfe Research initiated coverage on Diamondback Energy in a report on Thursday, July 18th. They set a “peer perform” rating for the company. One investment 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 company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $209.50.

Diamondback Energy Price Performance

Shares of NASDAQ:FANG traded up $6.31 during midday trading on Friday, hitting $194.61. The stock had a trading volume of 3,494,187 shares, compared to its average volume of 1,674,807. The company’s 50-day moving average price is $187.40 and its 200-day moving average price is $195.23. Diamondback Energy, Inc. has a fifty-two week low of $143.08 and a fifty-two week high of $214.50. The company has a quick ratio of 3.64, a current ratio of 3.66 and a debt-to-equity ratio of 0.65. The company has a market capitalization of $34.71 billion, a P/E ratio of 10.97, a price-to-earnings-growth ratio of 1.17 and a beta of 1.89.

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, 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 company had revenue of $2.48 billion during the quarter, compared to analysts’ expectations of $2.19 billion. During the same quarter in the previous year, the firm earned $3.68 EPS. Diamondback Energy’s revenue was up 29.4% on a year-over-year basis. As a group, equities research analysts predict that Diamondback Energy, Inc. will post 18.97 EPS for the current fiscal year.

Diamondback Energy Increases Dividend

The business also recently declared a None dividend, which was paid on Thursday, August 22nd. Investors of record on Thursday, August 15th were issued 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 dividend yield of 1.9%. Diamondback Energy’s payout ratio is 20.29%.

Insider Buying and Selling

In other Diamondback Energy news, major shareholder Lyndal Greth sold 13,212,830 shares of the business’s stock in a transaction on 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 sale, the insider now owns 1,037,819 shares of the company’s stock, valued at approximately $181,732,485.09. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. 0.48% of the stock is owned by corporate 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.