TruWealth Advisors LLC Raises Stock Holdings in Diamondback Energy, Inc. $FANG

TruWealth Advisors LLC boosted its position in shares of Diamondback Energy, Inc. (NASDAQ:FANG) by 3.3% in the third quarter, according to the company in its most recent filing with the SEC. The firm owned 162,406 shares of the oil and natural gas company’s stock after acquiring an additional 5,117 shares during the quarter. Diamondback Energy comprises about 1.2% of TruWealth Advisors LLC’s portfolio, making the stock its 28th largest position. TruWealth Advisors LLC’s holdings in Diamondback Energy were worth $23,240,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently bought and sold shares of FANG. Creekmur Asset Management LLC acquired a new stake in Diamondback Energy during the 2nd quarter valued at approximately $28,000. Twin Peaks Wealth Advisors LLC acquired a new position in Diamondback Energy during the second quarter valued at $29,000. Estabrook Capital Management acquired a new stake in Diamondback Energy during the 2nd quarter worth about $41,000. Cape Investment Advisory Inc. raised its stake in shares of Diamondback Energy by 148.6% during the 1st quarter. Cape Investment Advisory Inc. now owns 343 shares of the oil and natural gas company’s stock valued at $55,000 after buying an additional 205 shares during the last quarter. Finally, Creative Financial Designs Inc. ADV grew its holdings in Diamondback Energy by 49.6% during the second quarter. Creative Financial Designs Inc. ADV now owns 368 shares of the oil and natural gas company’s stock worth $51,000 after acquiring an additional 122 shares during the period. Institutional investors and hedge funds own 90.01% of the company’s stock.

Analyst Ratings Changes

A number of research firms have recently commented on FANG. Royal Bank Of Canada restated an “outperform” rating and set a $173.00 target price on shares of Diamondback Energy in a research report on Friday, October 10th. KeyCorp cut their price objective on Diamondback Energy from $180.00 to $176.00 and set an “overweight” rating for the company in a research report on Wednesday, September 3rd. Roth Capital set a $162.00 target price on Diamondback Energy and gave the company a “buy” rating in a research report on Tuesday, November 4th. Barclays cut their price target on shares of Diamondback Energy from $185.00 to $178.00 and set an “overweight” rating for the company in a report on Tuesday, October 7th. Finally, William Blair assumed coverage on shares of Diamondback Energy in a report on Monday, August 25th. They set an “outperform” rating on the stock. One analyst has rated the stock with a Strong Buy rating, twenty have issued a Buy rating and one has given a Hold rating to the stock. According to data from MarketBeat.com, Diamondback Energy currently has an average rating of “Buy” and an average target price of $188.76.

Diamondback Energy Trading Down 1.7%

Shares of FANG stock opened at $154.06 on Tuesday. Diamondback Energy, Inc. has a fifty-two week low of $114.00 and a fifty-two week high of $180.91. The company has a debt-to-equity ratio of 0.35, a quick ratio of 0.60 and a current ratio of 0.62. The stock’s fifty day moving average is $147.39 and its two-hundred day moving average is $144.44. The firm has a market capitalization of $44.12 billion, a P/E ratio of 10.71 and a beta of 0.63.

Diamondback Energy (NASDAQ:FANG) last issued its earnings results on Monday, November 3rd. The oil and natural gas company reported $3.08 EPS for the quarter, beating analysts’ consensus estimates of $2.94 by $0.14. Diamondback Energy had a net margin of 27.32% and a return on equity of 9.57%. The business had revenue of $3.92 billion during the quarter, compared to analysts’ expectations of $3.48 billion. During the same period in the prior year, the business earned $3.19 earnings per share. The company’s quarterly revenue was up 48.4% compared to the same quarter last year. Research analysts expect that Diamondback Energy, Inc. will post 15.49 earnings per share for the current fiscal year.

Diamondback Energy Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, November 20th. Shareholders of record on Thursday, November 13th were paid a $1.00 dividend. The ex-dividend date of this dividend was Thursday, November 13th. This represents a $4.00 dividend on an annualized basis and a dividend yield of 2.6%. Diamondback Energy’s dividend payout ratio (DPR) is 27.80%.

Insider Buying and Selling at Diamondback Energy

In related news, Director Charles Alvin Meloy sold 377,911 shares of the company’s stock in a transaction dated Thursday, December 4th. The shares were sold at an average price of $138.61, for a total value of $52,382,243.71. Following the completion of the sale, the director owned 1,044,864 shares of the company’s stock, valued at approximately $144,828,599.04. This represents a 26.56% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Insiders own 0.48% of the company’s stock.

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.