Regal Investment Advisors LLC Boosts Stock Holdings in Diamondback Energy, Inc. (NASDAQ:FANG)

Regal Investment Advisors LLC grew its holdings in Diamondback Energy, Inc. (NASDAQ:FANG) by 0.9% in the 2nd quarter, HoldingsChannel reports. The firm owned 30,514 shares of the oil and natural gas company’s stock after buying an additional 266 shares during the quarter. Regal Investment Advisors LLC’s holdings in Diamondback Energy were worth $6,109,000 as of its most recent SEC filing.

Several other hedge funds have also recently modified their holdings of FANG. Founders Capital Management increased its holdings in Diamondback Energy by 404.0% during the first quarter. Founders Capital Management now owns 126 shares of the oil and natural gas company’s stock valued at $25,000 after buying an additional 101 shares during the period. First Community Trust NA bought a new stake in Diamondback Energy during the 2nd quarter valued at $26,000. Carolinas Wealth Consulting LLC increased its holdings in shares of Diamondback Energy by 67.1% in the 2nd quarter. Carolinas Wealth Consulting LLC now owns 137 shares of the oil and natural gas company’s stock valued at $27,000 after acquiring an additional 55 shares during the period. Logan Capital Management Inc. bought a new position in shares of Diamondback Energy in the 4th quarter worth $31,000. Finally, HHM Wealth Advisors LLC bought a new position in shares of Diamondback Energy in the 2nd quarter worth $40,000. Hedge funds and other institutional investors own 90.01% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on the company. Morgan Stanley lifted their target price on Diamondback Energy from $185.00 to $198.00 and gave the company an “overweight” rating in a research note on Monday, September 16th. StockNews.com lowered shares of Diamondback Energy from a “buy” rating to a “hold” rating in a research note on Saturday, July 6th. Wells Fargo & Company cut their price target on shares of Diamondback Energy from $231.00 to $230.00 and set an “overweight” rating on the stock in a report on Wednesday, August 14th. KeyCorp started coverage on Diamondback Energy in a research report on Thursday, June 27th. They set an “overweight” rating and a $225.00 price target on the stock. Finally, Scotiabank lowered their price objective on Diamondback Energy from $255.00 to $245.00 and set a “sector outperform” rating for the company in a research report on Friday, July 12th. One analyst has rated the stock with a sell rating, seven have given a hold rating, fourteen have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $209.71.

Diamondback Energy Stock Performance

Shares of FANG stock opened at $170.63 on Monday. Diamondback Energy, Inc. has a 52-week low of $143.08 and a 52-week high of $214.50. The company has a quick ratio of 3.64, a current ratio of 3.66 and a debt-to-equity ratio of 0.65. The stock has a market cap of $30.43 billion, a PE ratio of 9.62, a price-to-earnings-growth ratio of 1.17 and a beta of 1.89. The business has a 50-day simple moving average of $189.17 and a 200-day simple moving average of $195.55.

Diamondback Energy (NASDAQ:FANG) last announced its quarterly earnings results on Monday, August 5th. The oil and natural gas company reported $4.52 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $4.51 by $0.01. The company had revenue of $2.48 billion during the quarter, compared to the consensus estimate of $2.19 billion. Diamondback Energy had a return on equity of 19.54% and a net margin of 37.51%. Diamondback Energy’s revenue for the quarter was up 29.4% on a year-over-year basis. During the same period in the previous year, the company posted $3.68 earnings per share. On average, equities analysts expect that Diamondback Energy, Inc. will post 18.97 EPS for the current year.

Diamondback Energy Increases Dividend

The company also recently disclosed a None dividend, which was paid on Thursday, August 22nd. Shareholders of record on Thursday, August 15th were issued a $2.34 dividend. This is a boost from Diamondback Energy’s previous None dividend of $2.26. The ex-dividend date was Thursday, August 15th. This represents a yield of 1.9%. Diamondback Energy’s payout ratio is presently 20.29%.

Insider Buying and Selling at Diamondback Energy

In other news, major shareholder Lyndal Greth sold 13,212,830 shares of the stock in a transaction dated 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 sale, the insider now directly owns 1,037,819 shares of the company’s stock, valued at approximately $181,732,485.09. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. 0.48% of the stock is owned by corporate insiders.

Diamondback Energy Company Profile

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.