Atria Wealth Solutions Inc. Sells 809 Shares of Diamondback Energy, Inc. (NASDAQ:FANG)

Atria Wealth Solutions Inc. trimmed its stake in shares of Diamondback Energy, Inc. (NASDAQ:FANG) by 2.4% in the fourth quarter, Holdings Channel.com reports. The fund owned 32,546 shares of the oil and natural gas company’s stock after selling 809 shares during the quarter. Atria Wealth Solutions Inc.’s holdings in Diamondback Energy were worth $5,047,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in the stock. BKM Wealth Management LLC acquired a new stake in Diamondback Energy during the fourth quarter worth approximately $27,000. BluePath Capital Management LLC acquired a new stake in Diamondback Energy in the third quarter valued at approximately $28,000. Turtle Creek Wealth Advisors LLC acquired a new stake in Diamondback Energy in the fourth quarter valued at approximately $34,000. CVA Family Office LLC acquired a new stake in Diamondback Energy in the fourth quarter valued at approximately $35,000. Finally, Cary Street Partners Investment Advisory LLC grew its stake in Diamondback Energy by 559.0% in the third quarter. Cary Street Partners Investment Advisory LLC now owns 257 shares of the oil and natural gas company’s stock valued at $40,000 after acquiring an additional 218 shares during the period. 90.01% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In related news, CEO Travis D. Stice sold 30,000 shares of the business’s stock in a transaction dated Tuesday, April 2nd. The stock was sold at an average price of $200.00, for a total transaction of $6,000,000.00. Following the completion of the transaction, the chief executive officer now directly owns 446,610 shares in the company, valued at $89,322,000. The transaction was disclosed in a document filed with the SEC, which is available through this link. In other news, CEO Travis D. Stice sold 30,000 shares of the company’s stock in a transaction dated Tuesday, April 2nd. The stock was sold at an average price of $200.00, for a total value of $6,000,000.00. Following the completion of the transaction, the chief executive officer now directly owns 446,610 shares in the company, valued at approximately $89,322,000. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Hof Matthew Kaes Van’t sold 12,000 shares of the company’s stock in a transaction dated Wednesday, March 20th. The stock was sold at an average price of $190.82, for a total value of $2,289,840.00. Following the completion of the transaction, the chief financial officer now owns 185,882 shares of the company’s stock, valued at $35,470,003.24. The disclosure for this sale can be found here. Insiders sold a total of 57,675 shares of company stock worth $11,311,096 over the last ninety days. 0.43% of the stock is owned by corporate insiders.

Diamondback Energy Price Performance

Diamondback Energy stock opened at $207.76 on Friday. Diamondback Energy, Inc. has a 52 week low of $123.41 and a 52 week high of $211.96. The business has a 50-day simple moving average of $193.25 and a 200 day simple moving average of $169.49. The company has a quick ratio of 0.74, a current ratio of 0.77 and a debt-to-equity ratio of 0.38. The stock has a market cap of $37.05 billion, a price-to-earnings ratio of 11.98 and a beta of 1.93.

Diamondback Energy (NASDAQ:FANG) last posted its earnings results on Tuesday, February 20th. The oil and natural gas company reported $4.74 EPS for the quarter, topping the consensus estimate of $4.61 by $0.13. Diamondback Energy had a return on equity of 19.56% and a net margin of 37.36%. The business had revenue of $2.23 billion during the quarter, compared to analysts’ expectations of $2.16 billion. During the same period in the previous year, the business earned $5.29 earnings per share. The firm’s revenue was up 9.8% on a year-over-year basis. On average, research analysts forecast that Diamondback Energy, Inc. will post 18.83 earnings per share for the current fiscal year.

Diamondback Energy Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, March 12th. Investors of record on Tuesday, March 5th were given a dividend of $3.08 per share. This represents a $12.32 annualized dividend and a yield of 5.93%. This is a boost from Diamondback Energy’s previous quarterly dividend of $0.84. The ex-dividend date of this dividend was Monday, March 4th. Diamondback Energy’s payout ratio is presently 20.76%.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on FANG. Bank Of America (Bofa) reduced their price objective on Diamondback Energy from $147.00 to $129.00 and set an “underperform” rating for the company in a research note on Thursday, January 18th. Barclays initiated coverage on Diamondback Energy in a report on Wednesday, April 10th. They issued an “equal weight” rating and a $214.00 target price on the stock. Royal Bank of Canada restated an “outperform” rating and issued a $195.00 target price on shares of Diamondback Energy in a report on Monday, March 4th. KeyCorp raised their target price on Diamondback Energy from $210.00 to $225.00 and gave the company an “overweight” rating in a report on Monday, April 22nd. Finally, Mizuho raised their target price on Diamondback Energy from $200.00 to $217.00 and gave the company a “buy” rating in a report on Thursday, April 11th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating, thirteen have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $202.53.

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.