Teamwork Financial Advisors LLC Has $2.23 Million Stake in Diamondback Energy, Inc. $FANG

Teamwork Financial Advisors LLC trimmed its position in shares of Diamondback Energy, Inc. (NASDAQ:FANG) by 23.5% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 12,674 shares of the oil and natural gas company’s stock after selling 3,893 shares during the period. Teamwork Financial Advisors LLC’s holdings in Diamondback Energy were worth $2,228,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in the business. Flagship Harbor Advisors LLC bought a new stake in Diamondback Energy during the 4th quarter valued at approximately $25,000. Richardson Financial Services Inc. increased its position in Diamondback Energy by 245.1% in 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 during the period. Laurel Wealth Advisors LLC bought a new position in Diamondback Energy in the 4th quarter worth approximately $26,000. Cedar Mountain Advisors LLC acquired a new position in shares of Diamondback Energy during the first quarter worth approximately $26,000. Finally, JPL Wealth Management LLC acquired a new position in shares of Diamondback Energy during the third quarter worth approximately $26,000. 90.01% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Diamondback Energy

In other news, Director Mark Lawrence Plaumann sold 500 shares of the firm’s stock in a transaction dated Tuesday, June 9th. The shares were sold at an average price of $196.50, for a total transaction of $98,250.00. Following the completion of the transaction, the director directly owned 13,437 shares of the company’s stock, valued at approximately $2,640,370.50. This trade represents a 3.59% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Charles Alvin Meloy sold 83,334 shares of the company’s stock in a transaction dated Tuesday, June 16th. The shares were sold at an average price of $187.12, for a total transaction of $15,593,458.08. Following the completion of the sale, the director directly owned 851,530 shares in the company, valued at approximately $159,338,293.60. The trade was a 8.91% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last 90 days, insiders have sold 139,167 shares of company stock worth $26,749,809. Corporate insiders own 0.64% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on the company. Scotiabank increased their price objective on Diamondback Energy from $175.00 to $195.00 and gave the company a “sector outperform” rating in a research report on Wednesday, April 22nd. Wells Fargo & Company upped their target price on shares of Diamondback Energy from $262.00 to $263.00 and gave the company an “overweight” rating in a research note on Wednesday. Morgan Stanley reduced their price target on shares of Diamondback Energy from $229.00 to $216.00 and set an “overweight” rating for the company in a report on Monday, June 29th. Raymond James Financial restated a “strong-buy” rating and issued a $248.00 price target on shares of Diamondback Energy in a research report on Friday, July 31st. Finally, UBS Group dropped their price objective on shares of Diamondback Energy from $246.00 to $243.00 and set a “buy” rating on the stock in a report on Tuesday, July 21st. Four investment analysts have rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating and four have assigned a Hold rating to the stock. According to MarketBeat, the stock has an average rating of “Buy” and an average target price of $220.75.

Diamondback Energy Price Performance

Shares of NASDAQ:FANG opened at $188.04 on Friday. Diamondback Energy, Inc. has a 1-year low of $134.30 and a 1-year high of $214.51. The firm has a market capitalization of $52.90 billion, a PE ratio of 36.65 and a beta of 0.43. The business’s 50 day moving average is $190.39 and its 200-day moving average is $185.79. The company has a current ratio of 0.47, a quick ratio of 0.55 and a debt-to-equity ratio of 0.25.

Diamondback Energy (NASDAQ:FANG) last issued its earnings results on Monday, August 3rd. The oil and natural gas company reported $6.48 EPS for the quarter, beating analysts’ consensus estimates of $6.08 by $0.40. The business had revenue of $5.56 billion during the quarter, compared to analyst estimates of $4.89 billion. Diamondback Energy had a return on equity of 10.10% and a net margin of 8.58%.Diamondback Energy’s revenue was up 51.2% on a year-over-year basis. During the same period in the prior year, the company posted $2.38 earnings per share. Sell-side analysts predict that Diamondback Energy, Inc. will post 19.22 earnings per share for the current year.

Diamondback Energy Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, August 20th. Stockholders of record on Thursday, August 13th will be paid a $1.10 dividend. The ex-dividend date is Thursday, August 13th. This represents a $4.40 dividend on an annualized basis and a dividend yield of 2.3%. Diamondback Energy’s dividend payout ratio is currently 85.77%.

Diamondback Energy Profile

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.