Diamondback Energy, Inc. (NASDAQ:FANG) Shares Sold by Miracle Mile Advisors LLC

Miracle Mile Advisors LLC lessened its holdings in Diamondback Energy, Inc. (NASDAQ:FANG) by 6.7% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 4,422 shares of the oil and natural gas company’s stock after selling 319 shares during the period. Miracle Mile Advisors LLC’s holdings in Diamondback Energy were worth $725,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. Carolinas Wealth Consulting LLC increased its position in Diamondback Energy by 67.1% during the second 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 last quarter. Financial Advocates Investment Management raised its position in Diamondback Energy by 3.0% in the third quarter. Financial Advocates Investment Management now owns 1,907 shares of the oil and natural gas company’s stock valued at $329,000 after purchasing an additional 55 shares during the period. Brighton Jones LLC raised its holdings in shares of Diamondback Energy by 0.8% during the 2nd quarter. Brighton Jones LLC now owns 7,821 shares of the oil and natural gas company’s stock valued at $1,566,000 after buying an additional 60 shares during the period. Greenup Street Wealth Management LLC lifted its position in shares of Diamondback Energy by 3.4% during the third quarter. Greenup Street Wealth Management LLC now owns 1,817 shares of the oil and natural gas company’s stock worth $313,000 after purchasing an additional 60 shares in the last quarter. Finally, West Family Investments Inc. boosted its position in Diamondback Energy by 3.4% in the 3rd quarter. West Family Investments Inc. now owns 1,852 shares of the oil and natural gas company’s stock valued at $319,000 after buying an additional 61 shares during the last quarter. Hedge funds and other institutional investors own 90.01% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on the company. Wolfe Research upgraded Diamondback Energy from a “peer perform” rating to an “outperform” rating and set a $190.00 target price for the company in a research note on Friday, January 3rd. Wells Fargo & Company lifted their target price on Diamondback Energy from $218.00 to $219.00 and gave the company an “overweight” rating in a research note on Tuesday, December 17th. KeyCorp lowered their price target on shares of Diamondback Energy from $225.00 to $216.00 and set an “overweight” rating for the company in a research report on Wednesday, October 16th. Susquehanna lowered their target price on Diamondback Energy from $237.00 to $233.00 and set a “positive” rating on the stock in a research report on Friday, October 18th. Finally, The Goldman Sachs Group began coverage on shares of Diamondback Energy in a research note on Monday, December 2nd. They set a “buy” rating and a $227.00 target price on the stock. One investment analyst has rated the stock with a sell rating, four have given a hold rating, eighteen have given a buy rating and two have 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 $210.08.

Diamondback Energy Trading Up 1.1 %

Shares of NASDAQ FANG opened at $179.56 on Thursday. The company has a current ratio of 0.45, a quick ratio of 0.42 and a debt-to-equity ratio of 0.31. The firm has a market capitalization of $52.43 billion, a PE ratio of 10.28, a PEG ratio of 1.19 and a beta of 1.88. The business has a 50-day moving average price of $170.76 and a two-hundred day moving average price of $183.46. Diamondback Energy, Inc. has a one year low of $147.93 and a one year high of $214.50.

Diamondback Energy (NASDAQ:FANG) last released its quarterly earnings data on Monday, November 4th. The oil and natural gas company reported $3.38 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $4.62 by ($1.24). The firm had revenue of $2.65 billion for the quarter, compared to analyst estimates of $2.43 billion. Diamondback Energy had a net margin of 33.64% and a return on equity of 13.68%. Diamondback Energy’s revenue for the quarter was up 13.0% on a year-over-year basis. During the same period in the previous year, the business posted $5.49 EPS. As a group, analysts predict that Diamondback Energy, Inc. will post 16.51 earnings per share for the current fiscal year.

Diamondback Energy Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, November 21st. Shareholders of record on Thursday, November 14th were given a dividend of $0.90 per share. This represents a $3.60 annualized dividend and a yield of 2.00%. The ex-dividend date of this dividend was Thursday, November 14th. Diamondback Energy’s payout ratio is 20.61%.

Insider Activity

In related news, Director Mark Lawrence Plaumann sold 1,150 shares of the business’s stock in a transaction dated Wednesday, November 13th. The stock was sold at an average price of $181.00, for a total transaction of $208,150.00. Following the completion of the transaction, the director now owns 4,712 shares of the company’s stock, valued at approximately $852,872. The trade was a 19.62 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.48% of the stock is currently owned by insiders.

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.