Avior Wealth Management LLC Purchases 350 Shares of Diamondback Energy, Inc. (NASDAQ:FANG)

Avior Wealth Management LLC increased its position in Diamondback Energy, Inc. (NASDAQ:FANG) by 22.4% during the 3rd quarter, Holdings Channel reports. The firm owned 1,914 shares of the oil and natural gas company’s stock after acquiring an additional 350 shares during the quarter. Avior Wealth Management LLC’s holdings in Diamondback Energy were worth $330,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently bought and sold shares of the company. Bank of New York Mellon Corp grew its stake in Diamondback Energy by 16.0% in the second quarter. Bank of New York Mellon Corp now owns 3,012,329 shares of the oil and natural gas company’s stock worth $603,038,000 after purchasing an additional 415,902 shares in the last quarter. Boston Partners grew its stake in Diamondback Energy by 235.6% in the first quarter. Boston Partners now owns 2,730,482 shares of the oil and natural gas company’s stock worth $541,844,000 after purchasing an additional 1,916,900 shares in the last quarter. Massachusetts Financial Services Co. MA grew its stake in Diamondback Energy by 10.1% in the second quarter. Massachusetts Financial Services Co. MA now owns 2,690,181 shares of the oil and natural gas company’s stock worth $538,547,000 after purchasing an additional 247,065 shares in the last quarter. Pacer Advisors Inc. grew its stake in Diamondback Energy by 7.1% in the second quarter. Pacer Advisors Inc. now owns 2,473,831 shares of the oil and natural gas company’s stock worth $495,236,000 after purchasing an additional 164,732 shares in the last quarter. Finally, Dimensional Fund Advisors LP grew its stake in Diamondback Energy by 4.0% in the second quarter. Dimensional Fund Advisors LP now owns 2,282,557 shares of the oil and natural gas company’s stock worth $456,930,000 after purchasing an additional 87,288 shares in the last quarter. Institutional investors own 90.01% of the company’s stock.

Insider Activity at Diamondback Energy

In other Diamondback Energy news, Director Mark Lawrence Plaumann sold 1,150 shares of the stock in a transaction that occurred on Wednesday, November 13th. The stock was sold at an average price of $181.00, for a total transaction of $208,150.00. Following the completion of the sale, 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 position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, major shareholder Lyndal Greth sold 13,212,830 shares of the stock in a transaction that occurred on Monday, September 23rd. The stock was sold at an average price of $175.11, for a total value 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 $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.

Diamondback Energy Trading Up 1.4 %

FANG opened at $185.29 on Friday. Diamondback Energy, Inc. has a one year low of $145.70 and a one year high of $214.50. The company has a market cap of $54.10 billion, a P/E ratio of 10.61, a PEG ratio of 1.32 and a beta of 1.89. The company has a debt-to-equity ratio of 0.31, a quick ratio of 0.42 and a current ratio of 0.45. The business’s 50-day simple moving average is $182.15 and its 200-day simple moving average is $190.81.

Diamondback Energy (NASDAQ:FANG) last released its quarterly earnings data 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). The business had revenue of $2.65 billion during the quarter, compared to analysts’ expectations 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 was up 13.0% compared to the same quarter last year. During the same quarter in the previous year, the company posted $5.49 EPS. As a group, equities research analysts expect that Diamondback Energy, Inc. will post 16.37 EPS for the current fiscal year.

Diamondback Energy Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, November 21st. Investors of record on Thursday, November 14th were given a $0.90 dividend. The ex-dividend date was Thursday, November 14th. This represents a $3.60 dividend on an annualized basis and a dividend yield of 1.94%. Diamondback Energy’s dividend payout ratio (DPR) is presently 20.61%.

Wall Street Analyst Weigh In

Several analysts have issued reports on FANG shares. StockNews.com raised Diamondback Energy from a “sell” rating to a “hold” rating in a research report on Wednesday, November 13th. Johnson Rice lowered Diamondback Energy from a “strong-buy” rating to a “moderate buy” rating in a research note on Tuesday, September 24th. Jefferies Financial Group initiated coverage on shares of Diamondback Energy in a research report on Monday, September 16th. They set a “hold” rating and a $185.00 price target for the company. Truist Financial lifted their price objective on shares of Diamondback Energy from $220.00 to $230.00 and gave the stock a “buy” rating in a research report on Wednesday, October 16th. Finally, Susquehanna reduced their price objective on shares of Diamondback Energy from $237.00 to $233.00 and set a “positive” rating for the company in a research note on Friday, October 18th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating, seventeen have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $212.00.

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.