502 Shares in Diamondback Energy, Inc. (NASDAQ:FANG) Bought by Exchange Traded Concepts LLC

Exchange Traded Concepts LLC purchased a new stake in shares of Diamondback Energy, Inc. (NASDAQ:FANG) during the third quarter, HoldingsChannel reports. The fund purchased 502 shares of the oil and natural gas company’s stock, valued at approximately $87,000.

Several other institutional investors have also bought and sold shares of the business. First Community Trust NA bought a new position in shares of Diamondback Energy in the 2nd quarter valued at about $26,000. Carolinas Wealth Consulting LLC boosted 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 worth $27,000 after purchasing an additional 55 shares during the period. HHM Wealth Advisors LLC bought a new position in shares of Diamondback Energy during the 2nd quarter valued at approximately $40,000. Founders Capital Management increased its position in Diamondback Energy by 99.2% during the second quarter. Founders Capital Management now owns 251 shares of the oil and natural gas company’s stock valued at $50,000 after acquiring an additional 125 shares during the last quarter. Finally, Oliver Lagore Vanvalin Investment Group raised its position in Diamondback Energy by 109.7% in the 2nd quarter. Oliver Lagore Vanvalin Investment Group now owns 260 shares of the oil and natural gas company’s stock worth $52,000 after purchasing an additional 136 shares during the period. Institutional investors own 90.01% of the company’s stock.

Diamondback Energy Stock Up 0.9 %

Diamondback Energy stock opened at $184.03 on Wednesday. The company has a debt-to-equity ratio of 0.65, a current ratio of 3.66 and a quick ratio of 3.64. The stock has a market capitalization of $32.82 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 simple moving average of $185.73 and a 200-day simple moving average of $194.44. Diamondback Energy, Inc. has a 12 month low of $145.70 and a 12 month high of $214.50.

Diamondback Energy (NASDAQ:FANG) last issued its quarterly earnings results on Monday, August 5th. The oil and natural gas company reported $4.52 EPS for the quarter, topping the consensus estimate of $4.51 by $0.01. The company had revenue of $2.48 billion during the quarter, compared to analyst estimates of $2.19 billion. Diamondback Energy had a net margin of 37.51% and a return on equity of 19.54%. The firm’s revenue was up 29.4% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $3.68 EPS. On average, analysts anticipate that Diamondback Energy, Inc. will post 19.08 EPS for the current fiscal year.

Diamondback Energy Increases Dividend

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

Insider Activity at Diamondback Energy

In other news, major shareholder Lyndal Greth sold 13,212,830 shares of Diamondback Energy 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 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. 0.48% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

Several equities analysts have commented on the company. JPMorgan Chase & Co. initiated coverage on Diamondback Energy in a research report on Wednesday, October 2nd. They issued an “overweight” rating and a $182.00 price objective on the stock. KeyCorp dropped their price objective on shares of Diamondback Energy from $225.00 to $216.00 and set an “overweight” rating on the stock in a research note on Wednesday, October 16th. Royal Bank of Canada reiterated an “outperform” rating and set a $220.00 price objective on shares of Diamondback Energy in a research note on Tuesday, September 17th. UBS Group cut their price target on shares of Diamondback Energy from $247.00 to $223.00 and set a “buy” rating on the stock in a report on Wednesday, September 18th. Finally, Sanford C. Bernstein decreased their price objective on Diamondback Energy from $243.00 to $236.00 and set an “outperform” rating for the company in a report on Wednesday, July 17th. One equities research 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 company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $210.09.

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.