WealthShield Partners LLC Makes New $3.32 Million Investment in Diamondback Energy, Inc. $FANG

WealthShield Partners LLC acquired a new stake in shares of Diamondback Energy, Inc. (NASDAQ:FANG) during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 16,768 shares of the oil and natural gas company’s stock, valued at approximately $3,317,000.

Other institutional investors and hedge funds have also modified their holdings of the company. Flagship Harbor Advisors LLC purchased a new position in Diamondback Energy in the 4th quarter valued at about $25,000. Richardson Financial Services Inc. increased its stake in Diamondback Energy by 245.1% during the 4th quarter. Richardson Financial Services Inc. now owns 176 shares of the oil and natural gas company’s stock worth $26,000 after buying an additional 125 shares in the last quarter. Laurel Wealth Advisors LLC purchased a new stake in Diamondback Energy during the 4th quarter worth approximately $26,000. Cedar Mountain Advisors LLC acquired a new position in shares of Diamondback Energy during the first quarter valued at approximately $26,000. Finally, JPL Wealth Management LLC acquired a new position in shares of Diamondback Energy during the third quarter valued at approximately $26,000. Hedge funds and other institutional investors own 90.01% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on FANG shares. Citigroup lifted their price target on Diamondback Energy from $225.00 to $245.00 and gave the stock a “buy” rating in a research note on Wednesday, May 20th. KeyCorp raised their price objective on Diamondback Energy from $196.00 to $225.00 and gave the company an “overweight” rating in a report on Thursday, April 2nd. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Diamondback Energy in a research note on Wednesday, May 27th. Wells Fargo & Company set a $212.00 target price on shares of Diamondback Energy in a report on Monday, June 22nd. Finally, Roth Capital set a $212.00 target price on shares of Diamondback Energy and gave the company a “buy” rating in a research report on Monday, June 22nd. Five investment analysts have rated the stock with a Strong Buy rating, sixteen have issued a Buy rating and four have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, Diamondback Energy currently has a consensus rating of “Buy” and a consensus target price of $220.68.

Diamondback Energy Price Performance

Shares of NASDAQ:FANG traded up $1.39 during midday trading on Friday, hitting $183.39. The company had a trading volume of 1,364,974 shares, compared to its average volume of 2,323,722. Diamondback Energy, Inc. has a twelve month low of $134.30 and a twelve month high of $214.51. The stock has a market cap of $51.59 billion, a price-to-earnings ratio of 213.25 and a beta of 0.42. The company has a debt-to-equity ratio of 0.31, a current ratio of 0.56 and a quick ratio of 0.55. The business’s 50-day simple moving average is $191.80 and its 200-day simple moving average is $179.24.

Diamondback Energy (NASDAQ:FANG) last released its quarterly earnings data on Monday, May 4th. The oil and natural gas company reported $4.23 earnings per share for the quarter, topping analysts’ consensus estimates of $3.74 by $0.49. The company had revenue of $4.24 billion for the quarter, compared to analyst estimates of $3.83 billion. Diamondback Energy had a return on equity of 7.76% and a net margin of 1.87%.The firm’s revenue for the quarter was up 4.7% compared to the same quarter last year. During the same quarter in the previous year, the company posted $4.54 earnings per share. On average, research analysts predict that Diamondback Energy, Inc. will post 19.25 earnings per share for the current year.

Diamondback Energy Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, May 21st. Stockholders of record on Thursday, May 14th were given a dividend of $1.10 per share. This represents a $4.40 annualized dividend and a dividend yield of 2.4%. The ex-dividend date of this dividend was Thursday, May 14th. This is a positive change from Diamondback Energy’s previous quarterly dividend of $1.05. Diamondback Energy’s dividend payout ratio is presently 511.63%.

Insider Activity

In related news, Director Mark Lawrence Plaumann sold 500 shares of the company’s stock in a transaction dated Tuesday, June 9th. The shares were sold at an average price of $196.50, for a total value of $98,250.00. Following the completion of the sale, the director owned 13,437 shares of the company’s stock, valued at approximately $2,640,370.50. This represents a 3.59% 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. Also, Director Charles Alvin Meloy sold 83,334 shares of the firm’s stock in a transaction dated Tuesday, June 16th. The stock was sold at an average price of $187.12, for a total transaction of $15,593,458.08. Following the sale, the director owned 851,530 shares of the company’s stock, valued at approximately $159,338,293.60. The trade was a 8.91% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last three months, insiders sold 113,691 shares of company stock worth $21,622,752. Company insiders own 0.64% of the company’s stock.

About Diamondback Energy

Diamondback Energy, Inc (NASDAQ: FANG) is an independent oil and natural gas company focused on the development, exploration and production of unconventional resources in the Permian Basin. Headquartered in Midland, Texas, the company concentrates its operations in the core Midland and Delaware sub‑basins of West Texas and southeastern New Mexico, where it pursues contiguous acreage positions to support repeatable drilling programs.

Diamondback’s activities span the upstream value chain, including leasehold acquisition, well planning, drilling, completion and production optimization.