Diamondback Energy, Inc. (NASDAQ:FANG) Stock Holdings Lowered by NBC Securities Inc.

NBC Securities Inc. trimmed its holdings in shares of Diamondback Energy, Inc. (NASDAQ:FANG) by 3.7% in the third quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 5,521 shares of the oil and natural gas company’s stock after selling 210 shares during the period. NBC Securities Inc.’s holdings in Diamondback Energy were worth $951,000 as of its most recent SEC filing.

Other hedge funds have also recently added to or reduced their stakes in the company. First Community Trust NA purchased a new stake in Diamondback Energy during the second quarter valued at about $26,000. Carolinas Wealth Consulting LLC lifted its position in shares of 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 in the last quarter. HHM Wealth Advisors LLC acquired a new position in Diamondback Energy in the 2nd quarter worth approximately $40,000. Founders Capital Management grew its position in Diamondback Energy by 99.2% during the 2nd quarter. Founders Capital Management now owns 251 shares of the oil and natural gas company’s stock worth $50,000 after purchasing an additional 125 shares in the last quarter. Finally, CVA Family Office LLC raised its stake in Diamondback Energy by 28.1% during the 3rd quarter. CVA Family Office LLC now owns 296 shares of the oil and natural gas company’s stock valued at $51,000 after purchasing an additional 65 shares during the period. Institutional investors and hedge funds own 90.01% of the company’s stock.

Insider Buying and Selling at Diamondback Energy

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

Diamondback Energy Stock Up 1.5 %

FANG stock opened at $182.46 on Thursday. The stock has a market capitalization of $32.54 billion, a price-to-earnings ratio of 10.29, a price-to-earnings-growth ratio of 1.22 and a beta of 1.89. The company has a 50-day moving average of $186.94 and a two-hundred day moving average of $194.99. Diamondback Energy, Inc. has a 52-week low of $145.70 and a 52-week high of $214.50. 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 announced its earnings results on Monday, August 5th. The oil and natural gas company reported $4.52 earnings per share for the quarter, beating the consensus estimate of $4.51 by $0.01. The firm had revenue of $2.48 billion during the quarter, compared to the consensus estimate of $2.19 billion. Diamondback Energy had a return on equity of 19.54% and a net margin of 37.51%. The firm’s revenue for the quarter was up 29.4% compared to the same quarter last year. During the same quarter in the prior year, the company earned $3.68 EPS. As a group, equities research analysts anticipate that Diamondback Energy, Inc. will post 19.08 EPS for the current year.

Diamondback Energy Increases Dividend

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

Analysts Set New Price Targets

FANG has been the topic of a number of research analyst reports. Citigroup initiated coverage on Diamondback Energy in a report on Monday. They set a “neutral” rating and a $195.00 price target on the stock. Piper Sandler upped their target price on Diamondback Energy from $240.00 to $252.00 and gave the company an “overweight” rating in a report on Tuesday. Truist Financial raised their price target on shares of Diamondback Energy from $220.00 to $230.00 and gave the stock a “buy” rating in a report on Wednesday. Sanford C. Bernstein dropped their price objective on shares of Diamondback Energy from $243.00 to $236.00 and set an “outperform” rating on the stock in a research note on Wednesday, July 17th. Finally, Jefferies Financial Group assumed coverage on shares of Diamondback Energy in a research note on Monday, September 16th. They set a “hold” rating and a $185.00 target price for the company. One investment analyst has rated the stock with a sell rating, five have given a hold rating, seventeen have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $210.32.

Diamondback Energy Company 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.