Diamondback Energy, Inc. (NASDAQ:FANG) Shares Bought by Cetera Investment Advisers

Cetera Investment Advisers increased its position in Diamondback Energy, Inc. (NASDAQ:FANG) by 3.1% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 47,919 shares of the oil and natural gas company’s stock after buying an additional 1,431 shares during the period. Cetera Investment Advisers’ holdings in Diamondback Energy were worth $9,593,000 as of its most recent SEC filing.

A number of other large investors also recently made changes to their positions in the business. Founders Capital Management increased its position in Diamondback Energy by 404.0% during the first quarter. Founders Capital Management now owns 126 shares of the oil and natural gas company’s stock worth $25,000 after purchasing an additional 101 shares during the last quarter. First Community Trust NA acquired a new position in Diamondback Energy in the second quarter valued at $26,000. Carolinas Wealth Consulting LLC grew its position in Diamondback Energy by 67.1% during the second 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 during the period. Logan Capital Management Inc. purchased a new stake in Diamondback Energy during the fourth quarter valued at about $31,000. Finally, HHM Wealth Advisors LLC purchased a new position in shares of Diamondback Energy in the 2nd quarter worth about $40,000. Hedge funds and other institutional investors own 90.01% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on FANG. JPMorgan Chase & Co. started coverage on shares of Diamondback Energy in a research report on Wednesday. They set an “overweight” rating and a $182.00 target price for the company. StockNews.com downgraded shares of Diamondback Energy from a “buy” rating to a “hold” rating in a research note on Saturday, July 6th. Scotiabank decreased their price target on shares of Diamondback Energy from $255.00 to $245.00 and set a “sector outperform” rating for the company in a research report on Friday, July 12th. Jefferies Financial Group initiated coverage on Diamondback Energy in a research report on Monday, September 16th. They issued a “hold” rating and a $185.00 price objective on the stock. Finally, Johnson Rice downgraded Diamondback Energy from a “strong-buy” rating to a “moderate buy” rating in a research report on Tuesday, September 24th. One analyst has rated the stock with a sell rating, five have given a hold rating, seventeen have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $209.50.

Insiders Place Their Bets

In related news, major shareholder Lyndal Greth sold 13,212,830 shares of Diamondback Energy stock in a transaction dated Monday, September 23rd. The shares were sold at an average price of $175.11, for a total value of $2,313,698,661.30. Following the sale, the insider now directly owns 1,037,819 shares in the company, valued at $181,732,485.09. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.48% of the stock is owned by corporate insiders.

Diamondback Energy Stock Up 3.4 %

FANG stock opened at $194.61 on Friday. The firm has a market cap of $34.71 billion, a price-to-earnings ratio of 10.97, a PEG ratio of 1.17 and a beta of 1.89. Diamondback Energy, Inc. has a 1-year low of $143.08 and a 1-year high of $214.50. The firm has a fifty day moving average price of $187.40 and a two-hundred day moving average price of $195.25. 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 released its quarterly earnings data on Monday, August 5th. The oil and natural gas company reported $4.52 earnings per share for the quarter, topping the consensus estimate of $4.51 by $0.01. The firm had revenue of $2.48 billion for the quarter, compared to analyst estimates of $2.19 billion. Diamondback Energy had a net margin of 37.51% and a return on equity of 19.54%. Diamondback Energy’s quarterly revenue was up 29.4% on a year-over-year basis. During the same quarter in the prior year, the business earned $3.68 earnings per share. Research analysts predict that Diamondback Energy, Inc. will post 18.97 EPS for the current year.

Diamondback Energy Increases Dividend

The business also recently disclosed 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 an increase from Diamondback Energy’s previous None dividend of $2.26. This represents a yield of 1.9%. The ex-dividend date was Thursday, August 15th. Diamondback Energy’s dividend payout ratio is presently 20.29%.

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.