Venturi Wealth Management LLC Sells 455 Shares of Diamondback Energy, Inc. (NASDAQ:FANG)

Venturi Wealth Management LLC cut its position in shares of Diamondback Energy, Inc. (NASDAQ:FANG) by 39.2% in the third quarter, Holdings Channel.com reports. The institutional investor owned 705 shares of the oil and natural gas company’s stock after selling 455 shares during the period. Venturi Wealth Management LLC’s holdings in Diamondback Energy were worth $122,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in FANG. First Community Trust NA bought a new position in shares of Diamondback Energy during the 2nd quarter valued at approximately $26,000. Carolinas Wealth Consulting LLC lifted its position in Diamondback Energy by 67.1% during 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 purchasing an additional 55 shares during the last quarter. HHM Wealth Advisors LLC bought a new position in Diamondback Energy during the second quarter valued at $40,000. Values First Advisors Inc. purchased a new position in shares of Diamondback Energy in the 3rd quarter worth $42,000. Finally, Founders Capital Management increased its holdings in shares of 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 worth $50,000 after buying an additional 125 shares during the last quarter. Hedge funds and other institutional investors own 90.01% of the company’s stock.

Insider Buying and Selling at Diamondback Energy

In related news, major shareholder Lyndal Greth sold 13,212,830 shares of the company’s stock in a transaction on Monday, September 23rd. The stock was sold at an average price of $175.11, for a total transaction of $2,313,698,661.30. Following the completion of the sale, the insider now directly 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 through this link. Insiders own 0.48% of the company’s stock.

Diamondback Energy Stock Performance

Shares of Diamondback Energy stock opened at $182.24 on Thursday. The company has a current ratio of 0.45, a quick ratio of 0.42 and a debt-to-equity ratio of 0.31. The stock’s fifty day moving average price is $181.30 and its 200-day moving average price is $191.76. The firm has a market cap of $53.21 billion, a P/E ratio of 10.43, a P/E/G ratio of 1.27 and a beta of 1.89. Diamondback Energy, Inc. has a 12 month low of $145.70 and a 12 month high of $214.50.

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 analysts’ consensus estimates of $4.62 by ($1.24). Diamondback Energy had a net margin of 33.64% and a return on equity of 13.68%. The business had revenue of $2.65 billion for the quarter, compared to analysts’ expectations of $2.43 billion. During the same period last year, the business posted $5.49 EPS. The company’s revenue for the quarter was up 13.0% on a year-over-year basis. On average, equities research analysts expect that Diamondback Energy, Inc. will post 17 earnings per share for the current fiscal year.

Diamondback Energy Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, November 21st. Shareholders of record on Thursday, November 14th will be issued a dividend of $0.90 per share. The ex-dividend date is Thursday, November 14th. This represents a $3.60 dividend on an annualized basis and a yield of 1.98%. Diamondback Energy’s dividend payout ratio is currently 20.61%.

Analysts Set New Price Targets

A number of research analysts recently commented on the stock. BMO Capital Markets raised shares of Diamondback Energy from a “market perform” rating to an “outperform” rating and increased their price target for the company from $205.00 to $215.00 in a report on Friday, October 4th. Scotiabank lowered their price objective on Diamondback Energy from $245.00 to $225.00 and set a “sector outperform” rating for the company in a research note on Thursday, October 10th. Jefferies Financial Group started coverage on Diamondback Energy in a research report on Monday, September 16th. They set a “hold” rating and a $185.00 target price on the stock. Bank of America raised their price target on Diamondback Energy from $201.00 to $215.00 and gave the stock a “neutral” rating in a research report on Tuesday, July 23rd. Finally, UBS Group cut their price objective on shares of Diamondback Energy from $247.00 to $223.00 and set a “buy” rating on the stock in a research report on Wednesday, September 18th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating, seventeen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, Diamondback Energy has an average rating of “Moderate Buy” and a consensus price target 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.