9,472 Shares in Diamondback Energy, Inc. $FANG Purchased by Insight Wealth Partners LLC

Insight Wealth Partners LLC purchased a new position in Diamondback Energy, Inc. (NASDAQ:FANG) in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 9,472 shares of the oil and natural gas company’s stock, valued at approximately $1,665,000.

Other institutional investors and hedge funds have also bought and sold shares of the company. Cedar Mountain Advisors LLC purchased a new position in shares of Diamondback Energy during the 1st quarter worth approximately $26,000. Laurel Wealth Advisors LLC purchased a new stake in Diamondback Energy in the fourth quarter worth $26,000. JPL Wealth Management LLC bought a new position in Diamondback Energy in the third quarter worth $26,000. Wellington Shields & Co. LLC lifted its position in Diamondback Energy by 264.7% during the fourth quarter. Wellington Shields & Co. LLC now owns 186 shares of the oil and natural gas company’s stock valued at $28,000 after buying an additional 135 shares during the period. Finally, Global Assets Advisory LLC bought a new stake in shares of Diamondback Energy during the 1st quarter valued at $40,000. 90.01% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on FANG. Citigroup reduced their target price on shares of Diamondback Energy from $221.00 to $220.00 and set a “buy” rating on the stock in a research report on Monday, August 10th. Wells Fargo & Company upped their price objective on shares of Diamondback Energy from $262.00 to $263.00 and gave the stock an “overweight” rating in a report on Wednesday, August 5th. UBS Group lowered their target price on shares of Diamondback Energy from $246.00 to $243.00 and set a “buy” rating for the company in a report on Tuesday, July 21st. Mizuho boosted their price target on Diamondback Energy from $220.00 to $240.00 and gave the stock an “outperform” rating in a research report on Wednesday, May 27th. Finally, Susquehanna raised their price objective on Diamondback Energy from $245.00 to $255.00 and gave the company a “positive” rating in a research report on Tuesday, July 21st. Four equities research analysts have rated the stock with a Strong Buy rating, eighteen have given a Buy rating and four have issued a Hold rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and a consensus price target of $222.30.

Insider Transactions at Diamondback Energy

In related news, Director Charles Alvin Meloy sold 83,334 shares of Diamondback Energy stock in a transaction on Tuesday, June 16th. The stock was sold at an average price of $187.12, for a total value of $15,593,458.08. Following the completion of the sale, the director owned 851,530 shares of the company’s stock, valued at $159,338,293.60. The trade was a 8.91% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CAO Teresa L. Dick sold 7,000 shares of the company’s stock in a transaction on Tuesday, June 2nd. The shares were sold at an average price of $200.90, for a total value of $1,406,300.00. Following the sale, the chief accounting officer owned 85,755 shares of the company’s stock, valued at approximately $17,228,179.50. This trade represents a 7.55% decrease in their position. The SEC filing for this sale provides additional information. In the last quarter, insiders have sold 134,167 shares of company stock valued at $25,749,309. Corporate insiders own 0.64% of the company’s stock.

Diamondback Energy Price Performance

FANG opened at $202.47 on Monday. The stock has a market capitalization of $56.70 billion, a price-to-earnings ratio of 39.47 and a beta of 0.43. The firm has a 50 day moving average price of $190.31 and a 200-day moving average price of $187.74. Diamondback Energy, Inc. has a twelve month low of $134.30 and a twelve month high of $214.51. The company has a quick ratio of 0.45, a current ratio of 0.47 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 earnings per share (EPS) for the quarter, topping the consensus estimate of $6.08 by $0.40. Diamondback Energy had a net margin of 8.58% and a return on equity of 10.10%. The company had revenue of $5.56 billion for the quarter, compared to analysts’ expectations of $4.89 billion. During the same quarter last year, the company posted $2.38 earnings per share. The firm’s quarterly revenue was up 51.2% on a year-over-year basis. Equities research analysts forecast that Diamondback Energy, Inc. will post 19.73 earnings per share for the current year.

Diamondback Energy Announces Dividend

The company also recently declared 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. This represents a $4.40 dividend on an annualized basis and a dividend yield of 2.2%. The ex-dividend date is Thursday, August 13th. Diamondback Energy’s dividend payout ratio (DPR) is 85.77%.

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.