Centaurus Financial Inc. Has $303,000 Stake in Diamondback Energy, Inc. (NASDAQ:FANG)

Centaurus Financial Inc. raised its holdings in Diamondback Energy, Inc. (NASDAQ:FANG) by 52.2% in the 2nd quarter, according to the company in its most recent filing with the SEC. The firm owned 1,513 shares of the oil and natural gas company’s stock after acquiring an additional 519 shares during the quarter. Centaurus Financial Inc.’s holdings in Diamondback Energy were worth $303,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Founders Capital Management increased its stake in shares of Diamondback Energy by 404.0% in the 1st quarter. Founders Capital Management now owns 126 shares of the oil and natural gas company’s stock valued at $25,000 after acquiring an additional 101 shares in the last quarter. First Community Trust NA purchased a new stake in shares of Diamondback Energy in the second quarter valued at about $26,000. Carolinas Wealth Consulting LLC lifted its position 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 in the last quarter. Logan Capital Management Inc. purchased a new stake in shares of Diamondback Energy during the 4th quarter valued at $31,000. Finally, HHM Wealth Advisors LLC bought a new stake in Diamondback Energy in the second quarter worth about $40,000. 90.01% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on the stock. Truist Financial lowered their price target on shares of Diamondback Energy from $255.00 to $220.00 and set a “buy” rating on the stock in a research report on Monday, September 30th. Barclays raised Diamondback Energy from an “equal weight” rating to an “overweight” rating and reduced their target price for the company from $216.00 to $210.00 in a research note on Wednesday. StockNews.com lowered shares of Diamondback Energy from a “buy” rating to a “hold” rating in a report on Saturday, July 6th. Evercore ISI dropped their target price on Diamondback Energy from $235.00 to $209.00 and set an “outperform” rating for the company in a report on Monday, September 30th. Finally, Wolfe Research initiated coverage on Diamondback Energy in a research report on Thursday, July 18th. They issued a “peer perform” rating on the stock. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating, seventeen have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $209.50.

Insider Buying and Selling at Diamondback Energy

In other news, major shareholder Lyndal Greth sold 13,212,830 shares of the stock in a transaction that occurred on Monday, September 23rd. The stock was 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 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 SEC, which can be accessed through the SEC website. Company insiders own 0.48% of the company’s stock.

Diamondback Energy Stock Performance

NASDAQ:FANG opened at $194.61 on Friday. The firm has a market capitalization of $34.71 billion, a PE ratio of 10.97, a PEG ratio of 1.17 and a beta of 1.89. The stock’s fifty day moving average is $187.40 and its 200 day moving average is $195.25. Diamondback Energy, Inc. has a fifty-two week low of $143.08 and a fifty-two week high of $214.50. The company has a debt-to-equity ratio of 0.65, a quick ratio of 3.64 and a current ratio of 3.66.

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. Diamondback Energy had a net margin of 37.51% and a return on equity of 19.54%. The business had revenue of $2.48 billion for the quarter, compared to the consensus estimate of $2.19 billion. During the same quarter in the prior year, the firm posted $3.68 earnings per share. The business’s revenue for the quarter was up 29.4% on a year-over-year basis. On average, sell-side analysts anticipate that Diamondback Energy, Inc. will post 18.97 earnings per share for the current year.

Diamondback Energy Increases Dividend

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

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.