Diamondback Energy, Inc. (NASDAQ:FANG) Shares Acquired by SeaCrest Wealth Management LLC

SeaCrest Wealth Management LLC boosted its position in Diamondback Energy, Inc. (NASDAQ:FANG) by 5.2% in the third quarter, HoldingsChannel.com reports. The firm owned 2,732 shares of the oil and natural gas company’s stock after purchasing an additional 135 shares during the quarter. SeaCrest Wealth Management LLC’s holdings in Diamondback Energy were worth $471,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. First Community Trust NA acquired a new stake in shares of Diamondback Energy in the second quarter valued at $26,000. Carolinas Wealth Consulting LLC raised its position 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 worth $27,000 after acquiring an additional 55 shares in the last quarter. HHM Wealth Advisors LLC acquired a new stake in Diamondback Energy in the 2nd quarter valued at about $40,000. Founders Capital Management boosted its position in shares of Diamondback Energy by 99.2% during the 2nd quarter. Founders Capital Management now owns 251 shares of the oil and natural gas company’s stock valued at $50,000 after purchasing an additional 125 shares in the last quarter. Finally, CVA Family Office LLC grew its stake in shares of Diamondback Energy by 28.1% in the 3rd quarter. CVA Family Office LLC now owns 296 shares of the oil and natural gas company’s stock worth $51,000 after purchasing an additional 65 shares during the last quarter. 90.01% of the stock is owned by institutional investors.

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 stock was sold at an average price of $175.11, for a total transaction of $2,313,698,661.30. Following the transaction, the insider now owns 1,037,819 shares of the company’s stock, valued at approximately $181,732,485.09. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Corporate insiders own 0.48% of the company’s stock.

Diamondback Energy Stock Up 0.8 %

FANG opened at $183.96 on Friday. The company has a market capitalization of $32.81 billion, a PE ratio of 10.37, a price-to-earnings-growth ratio of 1.22 and a beta of 1.89. The business has a 50-day moving average of $186.67 and a 200-day moving average of $194.92. Diamondback Energy, Inc. has a fifty-two week low of $145.70 and a fifty-two week high of $214.50. 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 (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, beating analysts’ consensus estimates of $4.51 by $0.01. Diamondback Energy had a net margin of 37.51% and a return on equity of 19.54%. The firm had revenue of $2.48 billion during the quarter, compared to analysts’ expectations of $2.19 billion. During the same period in the previous year, the company earned $3.68 earnings per share. The company’s revenue was up 29.4% compared to the same quarter last year. Equities research analysts forecast that Diamondback Energy, Inc. will post 19.08 EPS for the current fiscal year.

Diamondback Energy Increases Dividend

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

Wall Street Analyst Weigh In

FANG has been the subject of a number of research reports. Citigroup started coverage on shares of Diamondback Energy in a report on Monday. They set a “neutral” rating and a $195.00 target price for the company. Royal Bank of Canada restated an “outperform” rating and issued a $220.00 target price on shares of Diamondback Energy in a report on Tuesday, September 17th. Morgan Stanley upped their target price on Diamondback Energy from $185.00 to $198.00 and gave the company an “overweight” rating in a report on Monday, September 16th. Susquehanna dropped their price target on Diamondback Energy from $245.00 to $237.00 and set a “positive” rating on the stock in a research note on Wednesday, September 4th. Finally, Sanford C. Bernstein reduced their price objective on shares of Diamondback Energy from $243.00 to $236.00 and set an “outperform” rating for the company in a research note on Wednesday, July 17th. 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 given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $210.32.

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.