6,181 Shares in Diamondback Energy, Inc. $FANG Bought by Moody National Bank Trust Division

Key Points

• Moody National Bank Trust Division acquired 6,181 Diamondback Energy shares worth approximately $1.14 million in the third quarter. Institutional investors and hedge funds collectively own about 90.01% of the company.
• Analysts maintain a generally positive outlook, with Diamondback receiving a “Moderate Buy” consensus rating and an average price target of $228.90. The company also beat quarterly earnings and revenue expectations, reporting $6.48 in EPS and $5.56 billion in revenue.
• Diamondback shares opened at $184.98, while the company paid a quarterly dividend of $1.10 per share, representing a 2.4% annualized yield. Directors also disclosed substantial stock sales, including 75,000 shares sold by Travis Stice.

Moody National Bank Trust Division acquired a new position in shares of Diamondback Energy, Inc. (NASDAQ:FANG - Free Report) in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The fund acquired 6,181 shares of the oil and natural gas company's stock, valued at approximately $1,136,000.

Other large investors have also modified their holdings of the company. Eastern Bank boosted its position in shares of Diamondback Energy by 39.5% in the 3rd quarter. Eastern Bank now owns 325 shares of the oil and natural gas company's stock valued at $60,000 after purchasing an additional 92 shares during the period. CX Institutional grew its stake in Diamondback Energy by 2.8% during the 3rd quarter. CX Institutional now owns 3,282 shares of the oil and natural gas company's stock worth $603,000 after buying an additional 89 shares during the last quarter. Burkett Financial Services LLC acquired a new position in Diamondback Energy during the third quarter worth approximately $32,000. QRG Capital Management Inc. increased its position in Diamondback Energy by 12.3% during the second quarter. QRG Capital Management Inc. now owns 6,395 shares of the oil and natural gas company's stock worth $1,124,000 after buying an additional 701 shares during the period. Finally, Envestnet Portfolio Solutions Inc. purchased a new stake in Diamondback Energy in the second quarter valued at approximately $215,000. Institutional investors and hedge funds own 90.01% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on FANG shares. Truist Financial increased their price objective on Diamondback Energy from $220.00 to $224.00 and gave the company a "buy" rating in a report on Wednesday, August 5th. Barclays cut their target price on shares of Diamondback Energy from $232.00 to $221.00 and set an "overweight" rating on the stock in a report on Monday, August 17th. Wells Fargo & Company upped their price target on shares of Diamondback Energy from $262.00 to $263.00 and gave the company an "overweight" rating in a research report on Wednesday, August 5th. Citigroup decreased their price target on shares of Diamondback Energy from $221.00 to $220.00 and set a "buy" rating for the company in a research note on Monday, August 10th. Finally, Weiss Ratings raised shares of Diamondback Energy from a "hold (c-)" rating to a "hold (c)" rating in a research report on Friday, July 31st. Four investment analysts have rated the stock with a Strong Buy rating, fifteen have issued a Buy rating and five have issued a Hold rating to the stock. According to MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $228.90.

Diamondback Energy Stock Up 0.5%

Shares of Diamondback Energy stock opened at $184.98 on Wednesday. Diamondback Energy, Inc. has a one year low of $137.03 and a one year high of $216.90. The company has a market cap of $51.80 billion, a P/E ratio of 36.06 and a beta of 0.55. The company has a debt-to-equity ratio of 0.25, a quick ratio of 0.45 and a current ratio of 0.47. The firm has a fifty day moving average of $197.19 and a two-hundred day moving average of $194.27.

Diamondback Energy (NASDAQ:FANG - Get Free Report) last issued its earnings results on Monday, August 3rd. The oil and natural gas company reported $6.48 earnings per share for the quarter, beating the consensus estimate of $6.08 by $0.40. Diamondback Energy had a net margin of 8.58% and a return on equity of 10.10%. The business had revenue of $5.56 billion for the quarter, compared to the consensus estimate of $4.89 billion. During the same quarter in the previous year, the firm earned $2.38 earnings per share. The business's quarterly revenue was up 51.2% compared to the same quarter last year. On average, analysts forecast that Diamondback Energy, Inc. will post 20.33 earnings per share for the current year.

Diamondback Energy Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, August 20th. Investors of record on Thursday, August 13th were given a $1.10 dividend. The ex-dividend date was Thursday, August 13th. This represents a $4.40 dividend on an annualized basis and a yield of 2.4%. Diamondback Energy's dividend payout ratio (DPR) is presently 85.77%.

Insider Buying and Selling

In other news, Director Charles Meloy sold 33,333 shares of the stock in a transaction that occurred on Monday, August 3rd. The stock was sold at an average price of $198.41, for a total transaction of $6,613,600.53. Following the completion of the transaction, the director directly owned 818,197 shares of the company's stock, valued at approximately $162,338,466.77. This represents a 3.91% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Travis D. Stice sold 75,000 shares of the firm's stock in a transaction that occurred on Friday, September 11th. The shares were sold at an average price of $204.31, for a total value of $15,323,250.00. Following the completion of the sale, the director directly owned 49,727 shares of the company's stock, valued at $10,159,723.37. This represents a 60.13% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 0.64% of the stock is currently owned by insiders.

Diamondback Energy Profile

Diamondback Energy, Inc is an independent oil and natural gas company headquartered in Midland, Texas. The company focuses primarily on the acquisition, development, exploration and production of unconventional, onshore oil and natural gas reserves in the Permian Basin of West Texas and southeastern New Mexico.

Diamondback's operations are concentrated in the Midland and Delaware sub-basins, where it develops properties using horizontal drilling and hydraulic fracturing. Its production includes crude oil, natural gas and natural gas liquids.

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