Biltmore Wealth Management LLC Has $538,000 Stake in Diamondback Energy, Inc. (NASDAQ:FANG)

Biltmore Wealth Management LLC lessened its position in Diamondback Energy, Inc. (NASDAQ:FANG) by 14.6% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 3,122 shares of the oil and natural gas company’s stock after selling 532 shares during the period. Biltmore Wealth Management LLC’s holdings in Diamondback Energy were worth $538,000 at the end of the most recent quarter.

Several other large investors have also recently bought and sold shares of the company. Founders Capital Management lifted its stake in shares of Diamondback Energy by 404.0% in the first quarter. Founders Capital Management now owns 126 shares of the oil and natural gas company’s stock worth $25,000 after acquiring an additional 101 shares during the period. First Community Trust NA acquired a new position in Diamondback Energy in the second quarter valued at $26,000. Carolinas Wealth Consulting LLC grew its holdings in Diamondback Energy by 67.1% during the 2nd quarter. Carolinas Wealth Consulting LLC now owns 137 shares of the oil and natural gas company’s stock worth $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 about $31,000. Finally, HHM Wealth Advisors LLC bought a new stake in shares of Diamondback Energy during the 2nd quarter valued at about $40,000. 90.01% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on FANG. StockNews.com lowered Diamondback Energy from a “buy” rating to a “hold” rating in a research note on Saturday, July 6th. Sanford C. Bernstein cut their price objective on shares of Diamondback Energy from $243.00 to $236.00 and set an “outperform” rating on the stock in a research report on Wednesday, July 17th. Bank of America raised their target price on Diamondback Energy from $201.00 to $215.00 and gave the company a “neutral” rating in a research note on Tuesday, July 23rd. KeyCorp assumed coverage on Diamondback Energy in a research note on Thursday, June 27th. They set an “overweight” rating and a $225.00 price target on the stock. Finally, Scotiabank decreased their price objective on Diamondback Energy from $255.00 to $245.00 and set a “sector outperform” rating for the company in a report on Friday, July 12th. One analyst has rated the stock with a sell rating, five have given a hold rating, seventeen have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, Diamondback Energy has an average rating of “Moderate Buy” and a consensus target price of $209.50.

Insider Transactions at Diamondback Energy

In other news, major shareholder Lyndal Greth sold 13,212,830 shares of the firm’s stock in a transaction on 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 owns 1,037,819 shares in the company, valued at approximately $181,732,485.09. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. 0.48% of the stock is owned by insiders.

Diamondback Energy Stock Performance

Diamondback Energy stock traded up $6.31 during mid-day trading on Friday, reaching $194.61. The company’s stock had a trading volume of 3,494,187 shares, compared to its average volume of 1,674,807. The firm’s fifty day moving average price is $187.40 and its two-hundred day moving average price is $195.23. The company has a debt-to-equity ratio of 0.65, a quick ratio of 3.64 and a current ratio of 3.66. Diamondback Energy, Inc. has a 12-month low of $143.08 and a 12-month high of $214.50. The company has a market capitalization of $34.71 billion, a P/E ratio of 10.97, a PEG ratio of 1.17 and a beta of 1.89.

Diamondback Energy (NASDAQ:FANG) last posted its earnings results on Monday, August 5th. The oil and natural gas company reported $4.52 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.51 by $0.01. The business had revenue of $2.48 billion for the quarter, compared to analysts’ expectations of $2.19 billion. Diamondback Energy had a net margin of 37.51% and a return on equity of 19.54%. The business’s revenue for the quarter was up 29.4% compared to the same quarter last year. During the same period in the prior year, the company posted $3.68 EPS. Sell-side analysts predict that Diamondback Energy, Inc. will post 18.97 EPS for the current fiscal year.

Diamondback Energy Increases Dividend

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

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.