Diamondback Energy, Inc. (NASDAQ:FANG) Shares Sold by B. Riley Wealth Advisors Inc.

B. Riley Wealth Advisors Inc. decreased its holdings in shares of Diamondback Energy, Inc. (NASDAQ:FANG) by 41.1% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 5,553 shares of the oil and natural gas company’s stock after selling 3,882 shares during the quarter. B. Riley Wealth Advisors Inc.’s holdings in Diamondback Energy were worth $1,112,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also recently added to or reduced their stakes in the company. Price T Rowe Associates Inc. MD lifted its stake in shares of Diamondback Energy by 38.2% during the first quarter. Price T Rowe Associates Inc. MD now owns 8,609,143 shares of the oil and natural gas company’s stock worth $1,706,076,000 after purchasing an additional 2,381,488 shares in the last quarter. Boston Partners lifted its position in Diamondback Energy by 235.6% during the 1st quarter. Boston Partners now owns 2,730,482 shares of the oil and natural gas company’s stock worth $541,844,000 after acquiring an additional 1,916,900 shares in the last quarter. Homestead Advisers Corp purchased a new position in Diamondback Energy in the 1st quarter worth approximately $87,940,000. Bank of New York Mellon Corp grew its position 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 valued at $603,038,000 after acquiring an additional 415,902 shares in the last quarter. Finally, Canada Pension Plan Investment Board raised its stake in shares of Diamondback Energy by 280.8% during the second quarter. Canada Pension Plan Investment Board now owns 545,202 shares of the oil and natural gas company’s stock valued at $109,144,000 after purchasing an additional 402,026 shares during the period. 90.01% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on FANG shares. Benchmark raised their price target on shares of Diamondback Energy from $154.00 to $195.00 and gave the company a “buy” rating in a report on Thursday. Wolfe Research started coverage on Diamondback Energy in a research report on Thursday, July 18th. They set a “peer perform” rating on the stock. Morgan Stanley increased their price target on Diamondback Energy from $185.00 to $198.00 and gave the company an “overweight” rating in a report on Monday, September 16th. KeyCorp started coverage on Diamondback Energy in a report on Thursday, June 27th. They set an “overweight” rating and a $225.00 price objective on the stock. Finally, Wells Fargo & Company reduced their target price on Diamondback Energy from $230.00 to $219.00 and set an “overweight” rating for the company in a research note on Tuesday. One research analyst has rated the stock with a sell rating, six have given a hold rating, sixteen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $207.68.

Insider Buying and Selling at Diamondback Energy

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

Diamondback Energy Trading Up 3.9 %

NASDAQ:FANG opened at $188.30 on Friday. The firm has a market capitalization of $33.58 billion, a P/E ratio of 10.61, a P/E/G ratio of 1.17 and a beta of 1.89. The business has a 50 day simple moving average of $187.52 and a 200 day simple moving average of $195.20. The company has a debt-to-equity ratio of 0.65, a current ratio of 3.66 and a quick ratio of 3.64. Diamondback Energy, Inc. has a 12-month low of $143.08 and a 12-month high of $214.50.

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 the consensus estimate 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 net margin of 37.51% and a return on equity of 19.54%. The company’s revenue for the quarter was up 29.4% compared to the same quarter last year. During the same quarter in the previous year, the company posted $3.68 earnings per share. Equities research analysts predict that Diamondback Energy, Inc. will post 18.97 EPS for the current year.

Diamondback Energy Increases Dividend

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

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.