Apollon Wealth Management LLC Has $465,000 Position in Diamondback Energy, Inc. (NASDAQ:FANG)

Apollon Wealth Management LLC lifted its position in shares of Diamondback Energy, Inc. (NASDAQ:FANG) by 10.3% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 2,695 shares of the oil and natural gas company’s stock after acquiring an additional 251 shares during the period. Apollon Wealth Management LLC’s holdings in Diamondback Energy were worth $465,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also made changes to their positions in FANG. First Community Trust NA bought a new stake in Diamondback Energy during the second quarter worth $26,000. Carolinas Wealth Consulting LLC boosted its stake in 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 in the last quarter. HHM Wealth Advisors LLC bought a new position in Diamondback Energy in the second quarter valued at about $40,000. Values First Advisors Inc. acquired a new position in Diamondback Energy during the third quarter worth about $42,000. Finally, Founders Capital Management lifted its holdings in shares of Diamondback Energy by 99.2% in the second quarter. Founders Capital Management now owns 251 shares of the oil and natural gas company’s stock worth $50,000 after acquiring an additional 125 shares during the last quarter. Institutional investors and hedge funds own 90.01% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on FANG shares. Evercore ISI lowered their price objective on shares of Diamondback Energy from $235.00 to $209.00 and set an “outperform” rating for the company in a research report on Monday, September 30th. Barclays upgraded Diamondback Energy from an “equal weight” rating to an “overweight” rating and dropped their price target for the company from $216.00 to $210.00 in a research note on Wednesday, October 2nd. JPMorgan Chase & Co. initiated coverage on Diamondback Energy in a research report on Wednesday, October 2nd. They set an “overweight” rating and a $182.00 price objective on the stock. Wells Fargo & Company reaffirmed a “sector outperform” rating on shares of Diamondback Energy in a report on Friday, October 18th. Finally, Susquehanna cut their price target on Diamondback Energy from $237.00 to $233.00 and set a “positive” rating on the stock in a research note on Friday, October 18th. One investment 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 stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $209.64.

Diamondback Energy Stock Performance

Shares of FANG stock opened at $176.60 on Friday. The company has a quick ratio of 0.42, a current ratio of 0.45 and a debt-to-equity ratio of 0.31. Diamondback Energy, Inc. has a 52 week low of $145.70 and a 52 week high of $214.50. The firm has a 50 day moving average of $181.16 and a 200-day moving average of $191.43. The company has a market cap of $51.57 billion, a price-to-earnings ratio of 10.11, a price-to-earnings-growth ratio of 1.30 and a beta of 1.89.

Diamondback Energy (NASDAQ:FANG) last posted its quarterly earnings results on Monday, November 4th. The oil and natural gas company reported $3.38 earnings per share for the quarter, missing the consensus estimate of $4.62 by ($1.24). The company had revenue of $2.65 billion during the quarter, compared to the consensus estimate of $2.43 billion. Diamondback Energy had a net margin of 33.64% and a return on equity of 13.68%. The company’s revenue for the quarter was up 13.0% on a year-over-year basis. During the same period last year, the firm posted $5.49 earnings per share. On average, equities analysts forecast that Diamondback Energy, Inc. will post 16.78 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, November 21st. Shareholders of record on Thursday, November 14th will be issued a $0.90 dividend. The ex-dividend date of this dividend is Thursday, November 14th. This represents a $3.60 annualized dividend and a yield of 2.04%. Diamondback Energy’s payout ratio is currently 20.61%.

Insider Buying and Selling at Diamondback Energy

In other Diamondback Energy news, Director Mark Lawrence Plaumann sold 1,150 shares of the firm’s stock in a transaction on Wednesday, November 13th. The shares were sold at an average price of $181.00, for a total value of $208,150.00. Following the transaction, the director now directly owns 4,712 shares of the company’s stock, valued at approximately $852,872. This trade represents a 19.62 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, major shareholder Lyndal Greth sold 13,212,830 shares of the business’s stock in a transaction dated 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 sale, the insider now directly owns 1,037,819 shares of the company’s stock, valued at approximately $181,732,485.09. The trade was a 92.72 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.48% of the company’s stock.

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.