Ashton Thomas Securities LLC Invests $52,000 in Diamondback Energy, Inc. (NASDAQ:FANG)

Ashton Thomas Securities LLC bought a new position in Diamondback Energy, Inc. (NASDAQ:FANG) during the third quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor bought 303 shares of the oil and natural gas company’s stock, valued at approximately $52,000.

Other hedge funds have also added to or reduced their stakes in the company. Price T Rowe Associates Inc. MD grew its stake in shares of Diamondback Energy by 38.2% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 8,609,143 shares of the oil and natural gas company’s stock worth $1,706,076,000 after acquiring an additional 2,381,488 shares in the last quarter. Bank of New York Mellon Corp grew its position in Diamondback Energy by 16.0% in the 2nd quarter. Bank of New York Mellon Corp now owns 3,012,329 shares of the oil and natural gas company’s stock worth $603,038,000 after purchasing an additional 415,902 shares in the last quarter. Boston Partners increased its stake in Diamondback Energy by 235.6% in the 1st quarter. Boston Partners now owns 2,730,482 shares of the oil and natural gas company’s stock valued at $541,844,000 after buying an additional 1,916,900 shares during the last quarter. Massachusetts Financial Services Co. MA lifted its position in shares of Diamondback Energy by 10.1% during the 2nd quarter. Massachusetts Financial Services Co. MA now owns 2,690,181 shares of the oil and natural gas company’s stock worth $538,547,000 after buying an additional 247,065 shares in the last quarter. Finally, Pacer Advisors Inc. boosted its stake in shares of Diamondback Energy by 7.1% in the 2nd quarter. Pacer Advisors Inc. now owns 2,473,831 shares of the oil and natural gas company’s stock worth $495,236,000 after buying an additional 164,732 shares during the last quarter. Institutional investors and hedge funds own 90.01% of the company’s stock.

Analysts Set New Price Targets

A number of analysts recently commented on FANG shares. Truist Financial lifted their price target on Diamondback Energy from $220.00 to $230.00 and gave the stock a “buy” rating in a report on Wednesday, October 16th. Jefferies Financial Group began coverage on Diamondback Energy in a research note on Monday, September 16th. They set a “hold” rating and a $185.00 target price on the stock. StockNews.com raised shares of Diamondback Energy from a “sell” rating to a “hold” rating in a report on Wednesday. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $210.00 price objective on shares of Diamondback Energy in a research report on Wednesday, November 6th. Finally, Wolfe Research started coverage on shares of Diamondback Energy in a research 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 issued a hold rating, seventeen have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, Diamondback Energy currently has a consensus rating of “Moderate Buy” and a consensus price target of $209.64.

Insiders Place Their Bets

In other news, major shareholder Lyndal Greth sold 13,212,830 shares of the stock in a transaction dated 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 directly owns 1,037,819 shares in the company, valued at approximately $181,732,485.09. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 0.48% of the company’s stock.

Diamondback Energy Price Performance

NASDAQ:FANG opened at $182.24 on Thursday. The firm has a market capitalization of $53.21 billion, a price-to-earnings ratio of 10.40, a P/E/G ratio of 1.27 and a beta of 1.89. 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 stock has a fifty day moving average of $181.30 and a 200 day moving average of $191.76. Diamondback Energy, Inc. has a 52-week low of $145.70 and a 52-week high of $214.50.

Diamondback Energy (NASDAQ:FANG) last announced its earnings results on Monday, November 4th. The oil and natural gas company reported $3.38 earnings per share for the quarter, missing analysts’ consensus estimates of $4.62 by ($1.24). The company had revenue of $2.65 billion during the quarter, compared to analysts’ expectations of $2.43 billion. Diamondback Energy had a net margin of 33.64% and a return on equity of 13.68%. The company’s revenue for the quarter was up 13.0% compared to the same quarter last year. During the same period in the prior year, the business earned $5.49 earnings per share. On average, research analysts expect that Diamondback Energy, Inc. will post 17 EPS for the current fiscal year.

Diamondback Energy Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, November 21st. Investors of record on Thursday, November 14th will be paid a $0.90 dividend. The ex-dividend date of this dividend is Thursday, November 14th. This represents a $3.60 dividend on an annualized basis and a yield of 1.98%. Diamondback Energy’s dividend payout ratio is presently 20.61%.

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.