Wealth Alliance Advisory Group LLC Grows Stock Holdings in Diamondback Energy, Inc. $FANG

Wealth Alliance Advisory Group LLC boosted its position in Diamondback Energy, Inc. (NASDAQ:FANG) by 62.2% in the 2nd quarter, according to its most recent filing with the SEC. The firm owned 2,088 shares of the oil and natural gas company’s stock after acquiring an additional 801 shares during the period. Wealth Alliance Advisory Group LLC’s holdings in Diamondback Energy were worth $287,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Robeco Institutional Asset Management B.V. grew its stake in Diamondback Energy by 4.0% in the 1st quarter. Robeco Institutional Asset Management B.V. now owns 36,177 shares of the oil and natural gas company’s stock worth $5,784,000 after acquiring an additional 1,384 shares during the period. Oppenheimer Asset Management Inc. grew its stake in Diamondback Energy by 6.3% in the 1st quarter. Oppenheimer Asset Management Inc. now owns 58,853 shares of the oil and natural gas company’s stock worth $9,409,000 after acquiring an additional 3,467 shares during the period. China Universal Asset Management Co. Ltd. grew its stake in Diamondback Energy by 50.4% in the 1st quarter. China Universal Asset Management Co. Ltd. now owns 7,149 shares of the oil and natural gas company’s stock worth $1,143,000 after acquiring an additional 2,397 shares during the period. True North Advisors LLC purchased a new stake in shares of Diamondback Energy during the 1st quarter valued at $327,000. Finally, Wealth Advisory Solutions LLC purchased a new stake in shares of Diamondback Energy during the 1st quarter valued at $2,631,000. 90.01% of the stock is owned by hedge funds and other institutional investors.

Diamondback Energy Stock Performance

NASDAQ:FANG opened at $136.88 on Friday. The company has a current ratio of 0.55, a quick ratio of 0.52 and a debt-to-equity ratio of 0.35. The firm has a market capitalization of $39.63 billion, a price-to-earnings ratio of 9.73 and a beta of 1.14. The firm’s fifty day simple moving average is $142.68 and its 200 day simple moving average is $142.15. Diamondback Energy, Inc. has a twelve month low of $114.00 and a twelve month high of $200.47.

Diamondback Energy (NASDAQ:FANG) last posted its earnings results on Monday, August 4th. The oil and natural gas company reported $2.67 earnings per share for the quarter, missing the consensus estimate of $2.72 by ($0.05). The business had revenue of $3.68 billion for the quarter, compared to analyst estimates of $3.35 billion. Diamondback Energy had a net margin of 27.25% and a return on equity of 9.48%. The business’s revenue was up 48.1% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $4.52 EPS. As a group, equities research analysts expect that Diamondback Energy, Inc. will post 15.49 earnings per share for the current fiscal year.

Diamondback Energy Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, August 21st. Investors of record on Thursday, August 14th were issued a dividend of $1.00 per share. The ex-dividend date was Thursday, August 14th. This represents a $4.00 annualized dividend and a dividend yield of 2.9%. Diamondback Energy’s payout ratio is presently 28.43%.

Analyst Upgrades and Downgrades

FANG has been the subject of several research reports. Melius Research initiated coverage on shares of Diamondback Energy in a research note on Wednesday, August 20th. They set a “buy” rating and a $213.00 price objective for the company. Piper Sandler lowered their price objective on shares of Diamondback Energy from $228.00 to $222.00 and set an “overweight” rating for the company in a research note on Thursday, August 14th. Scotiabank reissued an “outperform” rating on shares of Diamondback Energy in a research note on Friday, July 11th. Wells Fargo & Company boosted their price objective on shares of Diamondback Energy from $210.00 to $211.00 and gave the company an “overweight” rating in a research note on Thursday, August 14th. Finally, UBS Group boosted their price objective on shares of Diamondback Energy from $163.00 to $171.00 and gave the company a “buy” rating in a research note on Wednesday, August 20th. Two analysts have rated the stock with a Strong Buy rating, twenty-one have given a Buy rating and one has issued a Hold rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Buy” and a consensus price target of $193.17.

Insider Buying and Selling at Diamondback Energy

In related news, Chairman Travis D. Stice sold 20,400 shares of Diamondback Energy stock in a transaction on Thursday, August 7th. The shares were sold at an average price of $142.80, for a total transaction of $2,913,120.00. Following the transaction, the chairman owned 102,145 shares in the company, valued at approximately $14,586,306. The trade was a 16.65% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders own 0.70% of the company’s stock.

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.