Allworth Financial LP Takes $2.08 Million Position in Diamondback Energy, Inc. $FANG

Allworth Financial LP acquired a new position in Diamondback Energy, Inc. (NASDAQ:FANG - Free Report) in the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor acquired 11,812 shares of the oil and natural gas company's stock, valued at approximately $2,076,000.

Several other large investors have also recently added to or reduced their stakes in the business. Laurel Wealth Advisors LLC acquired a new position in shares of Diamondback Energy during the fourth quarter valued at $26,000. Cedar Mountain Advisors LLC acquired a new stake in Diamondback Energy in the first quarter worth about $26,000. JPL Wealth Management LLC acquired a new position in Diamondback Energy during the 3rd quarter valued at about $26,000. Wellington Shields & Co. LLC raised its position in shares of Diamondback Energy by 264.7% during the 4th quarter. Wellington Shields & Co. LLC now owns 186 shares of the oil and natural gas company's stock worth $28,000 after buying an additional 135 shares in the last quarter. Finally, Meeder Asset Management Inc. bought a new stake in shares of Diamondback Energy during the 2nd quarter worth about $28,000. 90.01% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Diamondback Energy

In related news, CAO Teresa L. Dick sold 7,000 shares of the firm's stock in a transaction that occurred on Tuesday, June 2nd. The stock was sold at an average price of $200.90, for a total value of $1,406,300.00. Following the transaction, the chief accounting officer directly owned 85,755 shares of the company's stock, valued at approximately $17,228,179.50. This trade represents a 7.55% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Matt Zmigrosky sold 5,000 shares of Diamondback Energy stock in a transaction that occurred on Monday, June 1st. The shares were sold at an average price of $200.54, for a total transaction of $1,002,700.00. Following the completion of the transaction, the executive vice president directly owned 46,392 shares in the company, valued at approximately $9,303,451.68. This represents a 9.73% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 129,167 shares of company stock worth $24,714,309 over the last quarter. Company insiders own 0.64% of the company's stock.

Diamondback Energy Trading Down 0.1%

NASDAQ FANG opened at $210.72 on Friday. Diamondback Energy, Inc. has a 1-year low of $134.30 and a 1-year high of $216.90. The company has a current ratio of 0.47, a quick ratio of 0.45 and a debt-to-equity ratio of 0.25. The company has a market capitalization of $59.01 billion, a PE ratio of 41.08 and a beta of 0.43. The firm's fifty day simple moving average is $191.79 and its 200-day simple moving average is $189.22.

Diamondback Energy (NASDAQ:FANG - Get Free Report) last released its quarterly earnings data on Monday, August 3rd. The oil and natural gas company reported $6.48 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $6.08 by $0.40. Diamondback Energy had a return on equity of 10.10% and a net margin of 8.58%.The firm had revenue of $5.56 billion during the quarter, compared to analysts' expectations of $4.89 billion. During the same quarter last year, the firm earned $2.38 earnings per share. The business's revenue for the quarter was up 51.2% on a year-over-year basis. As a group, sell-side analysts anticipate that Diamondback Energy, Inc. will post 19.78 earnings per share for the current fiscal year.

Diamondback Energy Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, August 20th. Stockholders of record on Thursday, August 13th were paid a dividend of $1.10 per share. The ex-dividend date was Thursday, August 13th. This represents a $4.40 annualized dividend and a dividend yield of 2.1%. Diamondback Energy's dividend payout ratio is 85.77%.

Analyst Ratings Changes

FANG has been the topic of a number of research reports. Citigroup dropped their price objective on Diamondback Energy from $221.00 to $220.00 and set a "buy" rating on the stock in a research note on Monday, August 10th. Roth Capital set a $212.00 target price on Diamondback Energy and gave the stock a "buy" rating in a report on Monday, June 22nd. Wolfe Research reiterated an "outperform" rating and issued a $206.00 price target on shares of Diamondback Energy in a research report on Tuesday, August 4th. UBS Group cut their price target on shares of Diamondback Energy from $246.00 to $243.00 and set a "buy" rating for the company in a report on Tuesday, July 21st. Finally, Zacks Research cut shares of Diamondback Energy from a "strong-buy" rating to a "hold" rating in a research note on Thursday, May 28th. Four analysts have rated the stock with a Strong Buy rating, sixteen have given a Buy rating and five have given a Hold rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price of $222.21.

Diamondback Energy Company Profile

Diamondback Energy, Inc NASDAQ: FANG is an independent oil and natural gas company focused on the development, exploration and production of unconventional resources in the Permian Basin. Headquartered in Midland, Texas, the company concentrates its operations in the core Midland and Delaware sub‑basins of West Texas and southeastern New Mexico, where it pursues contiguous acreage positions to support repeatable drilling programs.

Diamondback's activities span the upstream value chain, including leasehold acquisition, well planning, drilling, completion and production optimization.

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