Diamondback Energy, Inc. $FANG Shares Sold by Ashton Thomas Private Wealth LLC

Ashton Thomas Private Wealth LLC cut its holdings in Diamondback Energy, Inc. (NASDAQ:FANG) by 57.3% during the 2nd quarter, Holdings Channel.com reports. The fund owned 3,884 shares of the oil and natural gas company’s stock after selling 5,221 shares during the quarter. Ashton Thomas Private Wealth LLC’s holdings in Diamondback Energy were worth $534,000 at the end of the most recent reporting period.

Several other large investors also recently made changes to their positions in the business. Golden State Wealth Management LLC raised its holdings in shares of Diamondback Energy by 2,130.0% in the 1st quarter. Golden State Wealth Management LLC now owns 223 shares of the oil and natural gas company’s stock worth $36,000 after purchasing an additional 213 shares in the last quarter. Koshinski Asset Management Inc. grew its position in Diamondback Energy by 9.8% in the first quarter. Koshinski Asset Management Inc. now owns 1,729 shares of the oil and natural gas company’s stock worth $276,000 after buying an additional 154 shares during the last quarter. Sumitomo Mitsui DS Asset Management Company Ltd increased its holdings in shares of Diamondback Energy by 39.9% in the first quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 30,601 shares of the oil and natural gas company’s stock valued at $4,892,000 after buying an additional 8,721 shares in the last quarter. Rossby Financial LCC increased its holdings in shares of Diamondback Energy by 21.3% in the first quarter. Rossby Financial LCC now owns 2,193 shares of the oil and natural gas company’s stock valued at $351,000 after buying an additional 385 shares in the last quarter. Finally, Teacher Retirement System of Texas lifted its position in shares of Diamondback Energy by 225.6% during the 1st quarter. Teacher Retirement System of Texas now owns 36,548 shares of the oil and natural gas company’s stock valued at $5,843,000 after acquiring an additional 25,324 shares during the last quarter. Institutional investors own 90.01% of the company’s stock.

Insider Transactions at Diamondback Energy

In other Diamondback Energy 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 completion of the sale, the chairman owned 102,145 shares of the company’s stock, valued at $14,586,306. This trade represents a 16.65% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. 0.70% of the stock is currently owned by insiders.

Diamondback Energy Trading Down 1.0%

Shares of NASDAQ FANG opened at $142.15 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. Diamondback Energy, Inc. has a one year low of $114.00 and a one year high of $186.07. The business has a 50-day moving average price of $142.95 and a two-hundred day moving average price of $141.33. The firm has a market capitalization of $41.15 billion, a PE ratio of 10.10 and a beta of 1.04.

Diamondback Energy (NASDAQ:FANG) last issued its earnings results on Monday, August 4th. The oil and natural gas company reported $2.67 earnings per share for the quarter, missing analysts’ consensus estimates of $2.72 by ($0.05). The business had revenue of $3.68 billion during 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%. Diamondback Energy’s revenue for the quarter was up 48.1% on a year-over-year basis. During the same quarter in the prior year, the company earned $4.52 EPS. As a group, analysts predict that Diamondback Energy, Inc. will post 15.49 earnings per share for the current fiscal year.

Diamondback Energy Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, August 21st. Shareholders of record on Thursday, August 14th were paid a $1.00 dividend. This represents a $4.00 annualized dividend and a yield of 2.8%. The ex-dividend date was Thursday, August 14th. Diamondback Energy’s dividend payout ratio is currently 28.43%.

Analyst Ratings Changes

A number of brokerages recently issued reports on FANG. Weiss Ratings restated a “hold (c-)” rating on shares of Diamondback Energy in a report on Wednesday, October 8th. UBS Group lifted their price target on Diamondback Energy from $163.00 to $171.00 and gave the stock a “buy” rating in a research note on Wednesday, August 20th. Evercore ISI boosted their price objective on Diamondback Energy from $165.00 to $175.00 and gave the stock an “outperform” rating in a report on Monday, October 6th. Mizuho decreased their target price on shares of Diamondback Energy from $183.00 to $176.00 and set an “outperform” rating for the company in a report on Monday, September 15th. Finally, Piper Sandler dropped their target price on shares of Diamondback Energy from $228.00 to $222.00 and set an “overweight” rating on the stock in a research report on Thursday, August 14th. Two research analysts have rated the stock with a Strong Buy rating, nineteen have assigned a Buy rating and one has assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Buy” and a consensus price target of $189.67.

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.