Atria Investments Inc Has $7.36 Million Stock Position in Diamondback Energy, Inc. (NASDAQ:FANG)

Atria Investments Inc increased its stake in shares of Diamondback Energy, Inc. (NASDAQ:FANG) by 18.5% in the third quarter, Holdings Channel reports. The firm owned 42,678 shares of the oil and natural gas company’s stock after buying an additional 6,672 shares during the quarter. Atria Investments Inc’s holdings in Diamondback Energy were worth $7,358,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the stock. First Community Trust NA bought a new position in shares of Diamondback Energy during the 2nd quarter valued at about $26,000. Carolinas Wealth Consulting LLC boosted its holdings in shares of Diamondback Energy by 67.1% in the second quarter. Carolinas Wealth Consulting LLC now owns 137 shares of the oil and natural gas company’s stock valued at $27,000 after buying an additional 55 shares during the period. HHM Wealth Advisors LLC bought a new stake in shares of Diamondback Energy during the second quarter worth $40,000. Values First Advisors Inc. acquired a new stake in shares of Diamondback Energy during the third quarter worth $42,000. Finally, Founders Capital Management lifted its position in Diamondback Energy by 99.2% in the 2nd quarter. Founders Capital Management now owns 251 shares of the oil and natural gas company’s stock valued at $50,000 after acquiring an additional 125 shares in the last quarter. Institutional investors own 90.01% of the company’s stock.

Insider Buying and Selling

In other Diamondback Energy news, major shareholder Lyndal Greth sold 13,212,830 shares of the stock in a transaction that occurred on Monday, September 23rd. The shares were sold at an average price of $175.11, for a total transaction of $2,313,698,661.30. Following the transaction, the insider now owns 1,037,819 shares in the company, valued at $181,732,485.09. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.48% of the stock is owned by insiders.

Diamondback Energy Stock Performance

Shares of FANG stock opened at $179.13 on Tuesday. Diamondback Energy, Inc. has a 52 week low of $145.70 and a 52 week high of $214.50. The company has a market capitalization of $52.80 billion, a price-to-earnings ratio of 10.25, a PEG ratio of 1.28 and a beta of 1.89. The company has a 50-day simple moving average of $181.77 and a 200 day simple moving average of $192.15. The company has a debt-to-equity ratio of 0.31, a quick ratio of 3.64 and a current ratio of 0.45.

Diamondback Energy (NASDAQ:FANG) last posted its earnings results on Monday, November 4th. The oil and natural gas company reported $3.38 EPS for the quarter, missing the consensus estimate of $4.62 by ($1.24). The firm had revenue of $2.65 billion during the quarter, compared to analyst estimates of $2.43 billion. Diamondback Energy had a net margin of 33.64% and a return on equity of 13.68%. Diamondback Energy’s revenue for the quarter was up 13.0% compared to the same quarter last year. During the same period in the previous year, the company posted $5.49 EPS. On average, sell-side analysts predict that Diamondback Energy, Inc. will post 17 earnings per share for the current year.

Diamondback Energy Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, November 21st. Stockholders of record on Thursday, November 14th will be given a $0.90 dividend. The ex-dividend date of this dividend is Thursday, November 14th. This represents a $3.60 dividend on an annualized basis and a dividend yield of 2.01%. Diamondback Energy’s payout ratio is presently 20.61%.

Wall Street Analysts Forecast Growth

FANG has been the subject of a number of research reports. Barclays upgraded Diamondback Energy from an “equal weight” rating to an “overweight” rating and lowered their target price for the stock from $216.00 to $210.00 in a report on Wednesday, October 2nd. Benchmark reissued a “buy” rating and issued a $195.00 target price on shares of Diamondback Energy in a research report on Tuesday, October 29th. Citigroup began coverage on Diamondback Energy in a research report on Monday, October 14th. They set a “neutral” rating and a $195.00 price target for the company. Wolfe Research began coverage on shares of Diamondback Energy in a report on Thursday, July 18th. They issued a “peer perform” rating on the stock. Finally, Royal Bank of Canada restated an “outperform” rating and set a $210.00 target price on shares of Diamondback Energy in a report on Wednesday, November 6th. Two equities research analysts have rated the stock with a sell rating, four have given a hold rating, seventeen have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $209.64.

About Diamondback Energy

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.