Diamondback Energy, Inc. (NASDAQ:FANG) Shares Bought by Global Retirement Partners LLC

Global Retirement Partners LLC raised its holdings in Diamondback Energy, Inc. (NASDAQ:FANG) by 44.1% in the third quarter, according to the company in its most recent disclosure with the SEC. The firm owned 4,003 shares of the oil and natural gas company’s stock after acquiring an additional 1,225 shares during the quarter. Global Retirement Partners LLC’s holdings in Diamondback Energy were worth $690,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. First Community Trust NA acquired a new stake in Diamondback Energy in the second quarter valued at $26,000. Carolinas Wealth Consulting LLC raised 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. HHM Wealth Advisors LLC acquired a new position in shares of Diamondback Energy during the 2nd quarter worth $40,000. Founders Capital Management raised its stake in shares of 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 buying an additional 125 shares during the last quarter. Finally, Oliver Lagore Vanvalin Investment Group raised its stake in shares of Diamondback Energy by 109.7% during the 2nd quarter. Oliver Lagore Vanvalin Investment Group now owns 260 shares of the oil and natural gas company’s stock worth $52,000 after buying an additional 136 shares during the last quarter. Institutional investors and hedge funds own 90.01% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on FANG shares. Jefferies Financial Group started coverage on Diamondback Energy in a research note on Monday, September 16th. They set a “hold” rating and a $185.00 price target for the company. Barclays raised Diamondback Energy from an “equal weight” rating to an “overweight” rating and cut their price target for the stock from $216.00 to $210.00 in a research note on Wednesday, October 2nd. Wolfe Research started coverage on Diamondback Energy in a research note on Thursday, July 18th. They set a “peer perform” rating for the company. Bank of America lifted their price target on Diamondback Energy from $201.00 to $215.00 and gave the stock a “neutral” rating in a research note on Tuesday, July 23rd. Finally, StockNews.com cut Diamondback Energy from a “buy” rating to a “hold” rating in a research report on Saturday, July 6th. One research 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’s stock. According to MarketBeat, Diamondback Energy presently has a consensus rating of “Moderate Buy” and an average price target of $210.09.

Diamondback Energy Stock Up 0.0 %

FANG opened at $183.99 on Monday. 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, Inc. has a 12 month low of $145.70 and a 12 month high of $214.50. The stock has a market capitalization of $32.81 billion, a price-to-earnings ratio of 10.37, a price-to-earnings-growth ratio of 1.22 and a beta of 1.89. The business has a 50-day moving average of $186.35 and a two-hundred day moving average of $194.71.

Diamondback Energy (NASDAQ:FANG) last issued its earnings results on Monday, August 5th. The oil and natural gas company reported $4.52 earnings per share (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 business 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 business earned $3.68 EPS. The company’s revenue for the quarter was up 29.4% on a year-over-year basis. On average, research analysts expect that Diamondback Energy, Inc. will post 19.08 earnings per share for the current year.

Diamondback Energy Increases Dividend

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

Insider Transactions at Diamondback Energy

In other news, major shareholder Lyndal Greth sold 13,212,830 shares of the business’s 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 completion of the sale, the insider now owns 1,037,819 shares in the company, valued at approximately $181,732,485.09. The trade was 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. Company insiders own 0.48% of the company’s stock.

About Diamondback Energy

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.