Toth Financial Advisory Corp Lowers Stock Position in Diamondback Energy, Inc. (NASDAQ:FANG)

Toth Financial Advisory Corp lessened its holdings in Diamondback Energy, Inc. (NASDAQ:FANG) by 15.8% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,330 shares of the oil and natural gas company’s stock after selling 250 shares during the quarter. Toth Financial Advisory Corp’s holdings in Diamondback Energy were worth $264,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently added to or reduced their stakes in the business. MCF Advisors LLC boosted its holdings in Diamondback Energy by 8.6% in the 4th quarter. MCF Advisors LLC now owns 846 shares of the oil and natural gas company’s stock valued at $131,000 after purchasing an additional 67 shares in the last quarter. Bleakley Financial Group LLC boosted its stake in shares of Diamondback Energy by 2.5% during the 4th quarter. Bleakley Financial Group LLC now owns 3,115 shares of the oil and natural gas company’s stock worth $483,000 after acquiring an additional 75 shares in the last quarter. Simplicity Solutions LLC boosted its stake in shares of Diamondback Energy by 2.5% during the 4th quarter. Simplicity Solutions LLC now owns 3,115 shares of the oil and natural gas company’s stock worth $483,000 after acquiring an additional 75 shares in the last quarter. Baldwin Investment Management LLC boosted its stake in shares of Diamondback Energy by 1.2% during the 4th quarter. Baldwin Investment Management LLC now owns 6,170 shares of the oil and natural gas company’s stock worth $957,000 after acquiring an additional 75 shares in the last quarter. Finally, J.W. Cole Advisors Inc. boosted its stake in shares of Diamondback Energy by 3.0% during the 4th quarter. J.W. Cole Advisors Inc. now owns 2,796 shares of the oil and natural gas company’s stock worth $434,000 after acquiring an additional 82 shares in the last quarter. Hedge funds and other institutional investors own 90.01% of the company’s stock.

Diamondback Energy Stock Up 0.5 %

Shares of Diamondback Energy stock opened at $200.19 on Friday. The company has a fifty day moving average price of $196.76 and a 200 day moving average price of $181.50. The company has a current ratio of 0.92, a quick ratio of 0.89 and a debt-to-equity ratio of 0.37. Diamondback Energy, Inc. has a twelve month low of $125.73 and a twelve month high of $211.96. The stock has a market cap of $35.70 billion, a price-to-earnings ratio of 11.28, a price-to-earnings-growth ratio of 1.09 and a beta of 1.90.

Diamondback Energy (NASDAQ:FANG) last announced its quarterly earnings results on Tuesday, April 30th. The oil and natural gas company reported $4.50 earnings per share for the quarter, topping analysts’ consensus estimates of $4.29 by $0.21. Diamondback Energy had a net margin of 36.71% and a return on equity of 19.36%. The firm had revenue of $2.23 billion during the quarter, compared to analysts’ expectations of $2.10 billion. During the same period in the prior year, the company earned $4.10 EPS. The firm’s revenue was up 15.7% on a year-over-year basis. Equities research analysts forecast that Diamondback Energy, Inc. will post 19.06 earnings per share for the current fiscal year.

Diamondback Energy Cuts Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, May 22nd. Investors of record on Wednesday, May 15th were given a dividend of $0.90 per share. The ex-dividend date was Tuesday, May 14th. This represents a $3.60 dividend on an annualized basis and a yield of 1.80%. Diamondback Energy’s dividend payout ratio (DPR) is 20.29%.

Wall Street Analyst Weigh In

FANG has been the topic of several research analyst reports. Benchmark reissued a “buy” rating and set a $154.00 price target on shares of Diamondback Energy in a research note on Thursday, June 20th. Barclays initiated coverage on Diamondback Energy in a research note on Wednesday, April 10th. They issued an “equal weight” rating and a $214.00 target price on the stock. Royal Bank of Canada upped their target price on Diamondback Energy from $195.00 to $220.00 and gave the company an “outperform” rating in a research note on Monday, May 6th. Morgan Stanley reduced their target price on Diamondback Energy from $186.00 to $184.00 and set an “overweight” rating on the stock in a research note on Monday, April 15th. Finally, Truist Financial upped their target price on Diamondback Energy from $248.00 to $250.00 and gave the company a “buy” rating in a research note on Monday, April 22nd. One analyst has rated the stock with a sell rating, four have assigned a hold rating, fifteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, Diamondback Energy presently has an average rating of “Moderate Buy” and a consensus target price of $209.35.

Insider Buying and Selling at Diamondback Energy

In other Diamondback Energy news, VP Jere W. Thompson III sold 900 shares of the company’s stock in a transaction dated Friday, May 3rd. The shares were sold at an average price of $199.90, for a total value of $179,910.00. Following the completion of the transaction, the vice president now directly owns 7,585 shares of the company’s stock, valued at approximately $1,516,241.50. The transaction was disclosed in a filing with the SEC, which is accessible through this link. In other Diamondback Energy news, VP Jere W. Thompson III sold 900 shares of the company’s stock in a transaction dated Friday, May 3rd. The shares were sold at an average price of $199.90, for a total value of $179,910.00. Following the completion of the transaction, the vice president now directly owns 7,585 shares of the company’s stock, valued at approximately $1,516,241.50. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, COO Daniel N. Wesson sold 6,000 shares of the company’s stock in a transaction dated Tuesday, May 28th. The shares were sold at an average price of $197.14, for a total transaction of $1,182,840.00. Following the completion of the transaction, the chief operating officer now directly owns 69,677 shares of the company’s stock, valued at $13,736,123.78. The disclosure for this sale can be found here. Insiders sold a total of 36,900 shares of company stock valued at $7,362,750 in the last ninety days. Insiders own 0.48% of the company’s stock.

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.