Diamondback Energy, Inc. (NASDAQ:FANG) Shares Bought by Kingsview Wealth Management LLC

Kingsview Wealth Management LLC grew its position in shares of Diamondback Energy, Inc. (NASDAQ:FANG) by 3.1% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 44,570 shares of the oil and natural gas company’s stock after acquiring an additional 1,344 shares during the quarter. Kingsview Wealth Management LLC’s holdings in Diamondback Energy were worth $7,684,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. First Community Trust NA acquired a new stake in Diamondback Energy during the second quarter worth about $26,000. Carolinas Wealth Consulting LLC boosted its position in shares of Diamondback Energy by 67.1% in the second 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 period. HHM Wealth Advisors LLC purchased a new stake in shares of Diamondback Energy in the second quarter worth about $40,000. Values First Advisors Inc. purchased a new stake in shares of Diamondback Energy in the third quarter worth about $42,000. Finally, Founders Capital Management boosted its position in shares of Diamondback Energy by 99.2% in the second 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 period. 90.01% of the stock is currently owned by institutional investors and hedge funds.

Diamondback Energy Trading Up 1.4 %

NASDAQ:FANG opened at $185.29 on Friday. The company has a quick ratio of 0.42, a current ratio of 0.45 and a debt-to-equity ratio of 0.31. The business’s 50 day moving average is $182.15 and its two-hundred day moving average is $190.72. Diamondback Energy, Inc. has a 52 week low of $145.70 and a 52 week high of $214.50. The company has a market cap of $54.10 billion, a PE ratio of 10.61, a P/E/G ratio of 1.34 and a beta of 1.89.

Diamondback Energy (NASDAQ:FANG) last released its earnings results on Monday, November 4th. The oil and natural gas company reported $3.38 EPS for the quarter, missing analysts’ consensus estimates of $4.62 by ($1.24). Diamondback Energy had a return on equity of 13.68% and a net margin of 33.64%. The firm had revenue of $2.65 billion for the quarter, compared to the consensus estimate of $2.43 billion. During the same period in the prior year, the business earned $5.49 EPS. The company’s quarterly revenue was up 13.0% on a year-over-year basis. On average, analysts predict that Diamondback Energy, Inc. will post 16.35 EPS for the current year.

Diamondback Energy Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, November 21st. Shareholders of record on Thursday, November 14th were issued a dividend of $0.90 per share. This represents a $3.60 dividend on an annualized basis and a yield of 1.94%. The ex-dividend date was Thursday, November 14th. Diamondback Energy’s dividend payout ratio is presently 20.61%.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on FANG. Johnson Rice downgraded Diamondback Energy from a “strong-buy” rating to a “moderate buy” rating in a research report on Tuesday, September 24th. Barclays raised Diamondback Energy from an “equal weight” rating to an “overweight” rating and decreased their target price for the stock from $216.00 to $210.00 in a research report on Wednesday, October 2nd. Jefferies Financial Group began coverage on Diamondback Energy in a research report on Monday, September 16th. They issued a “hold” rating and a $185.00 target price for the company. Raymond James upped their target price on Diamondback Energy from $232.00 to $237.00 and gave the stock a “strong-buy” rating in a research report on Tuesday, November 19th. Finally, Benchmark reaffirmed a “buy” rating and issued a $195.00 target price on shares of Diamondback Energy in a research report on Tuesday, October 29th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating, seventeen have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $212.00.

Insiders Place Their Bets

In other news, Director Mark Lawrence Plaumann sold 1,150 shares of the stock in a transaction that occurred on Wednesday, November 13th. The stock was sold at an average price of $181.00, for a total transaction of $208,150.00. Following the sale, the director now directly owns 4,712 shares in the company, valued at approximately $852,872. This represents a 19.62 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, 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 owns 1,037,819 shares in the company, valued at $181,732,485.09. The trade was a 92.72 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.48% of the stock is currently owned by company insiders.

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.