Arista Wealth Management LLC Purchases New Stake in Diamondback Energy, Inc. $FANG

Key Points

• Arista Wealth Management LLC acquired a new stake in Diamondback Energy, Inc. during Q2, purchasing 2,606 shares valued at approximately $358,000.
• Analysts have varying price targets for FANG; Raymond James cut their target from $221 to $212, while Evercore ISI increased theirs from $165 to $175.
• Diamondback Energy announced a quarterly dividend of $1.00 per share, translating into an annualized yield of 2.9%.

Arista Wealth Management LLC purchased a new stake in Diamondback Energy, Inc. (NASDAQ:FANG - Free Report) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 2,606 shares of the oil and natural gas company's stock, valued at approximately $358,000.

Several other hedge funds have also bought and sold shares of FANG. Investor s Fiduciary Advisor Network LLC boosted its holdings in Diamondback Energy by 2.1% during the 1st quarter. Investor s Fiduciary Advisor Network LLC now owns 3,559 shares of the oil and natural gas company's stock worth $569,000 after acquiring an additional 74 shares during the last quarter. Mesirow Financial Investment Management Inc. boosted its holdings in Diamondback Energy by 5.6% during the 1st quarter. Mesirow Financial Investment Management Inc. now owns 1,414 shares of the oil and natural gas company's stock worth $226,000 after acquiring an additional 75 shares during the last quarter. FourThought Financial Partners LLC boosted its holdings in Diamondback Energy by 2.9% during the 1st quarter. FourThought Financial Partners LLC now owns 2,779 shares of the oil and natural gas company's stock worth $444,000 after acquiring an additional 78 shares during the last quarter. Biondo Investment Advisors LLC boosted its holdings in Diamondback Energy by 0.3% during the 1st quarter. Biondo Investment Advisors LLC now owns 28,858 shares of the oil and natural gas company's stock worth $4,614,000 after acquiring an additional 80 shares during the last quarter. Finally, Catalyst Capital Advisors LLC boosted its holdings in Diamondback Energy by 60.9% during the 1st quarter. Catalyst Capital Advisors LLC now owns 222 shares of the oil and natural gas company's stock worth $35,000 after acquiring an additional 84 shares during the last quarter. Institutional investors and hedge funds own 90.01% of the company's stock.

Analysts Set New Price Targets

FANG has been the topic of a number of analyst reports. Raymond James Financial cut their price objective on shares of Diamondback Energy from $221.00 to $212.00 and set a "strong-buy" rating on the stock in a report on Wednesday, August 20th. Evercore ISI lifted their price objective on shares of Diamondback Energy from $165.00 to $175.00 and gave the stock an "outperform" rating in a report on Monday, October 6th. Barclays cut their price objective on shares of Diamondback Energy from $185.00 to $178.00 and set an "overweight" rating on the stock in a report on Tuesday, October 7th. William Blair initiated coverage on shares of Diamondback Energy in a report on Monday, August 25th. They set an "outperform" rating on the stock. Finally, Scotiabank reaffirmed an "outperform" rating on shares of Diamondback Energy in a report on Thursday, October 9th. Two equities research analysts have rated the stock with a Strong Buy rating, twenty have issued a Buy rating and one has given a Hold rating to the company's stock. Based on data from MarketBeat, the stock has an average rating of "Buy" and an average price target of $189.91.

Insider Buying and Selling

In other Diamondback Energy news, Chairman Travis D. Stice sold 20,400 shares of the company's stock in a transaction dated Thursday, August 7th. The shares were sold at an average price of $142.80, for a total transaction of $2,913,120.00. Following the sale, the chairman directly owned 102,145 shares of the company's stock, valued at $14,586,306. This represents a 16.65% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.70% of the stock is currently owned by company insiders.

Diamondback Energy Price Performance

Shares of NASDAQ:FANG opened at $139.09 on Friday. The company's 50-day moving average is $142.18 and its 200 day moving average is $140.51. The company has a debt-to-equity ratio of 0.35, a quick ratio of 0.52 and a current ratio of 0.55. The company has a market capitalization of $40.26 billion, a P/E ratio of 9.89 and a beta of 1.04. Diamondback Energy, Inc. has a fifty-two week low of $114.00 and a fifty-two week high of $186.74.

Diamondback Energy (NASDAQ:FANG - Get Free Report) last issued its quarterly earnings results on Monday, August 4th. The oil and natural gas company reported $2.67 earnings per share for the quarter, missing analysts' consensus estimates of $2.72 by ($0.05). The company had revenue of $3.68 billion during the quarter, compared to analysts' expectations of $3.35 billion. Diamondback Energy had a return on equity of 9.48% and a net margin of 27.25%.Diamondback Energy's quarterly revenue was up 48.1% compared to the same quarter last year. During the same period last year, the firm posted $4.52 earnings per share. On average, equities research analysts forecast that Diamondback Energy, Inc. will post 15.49 earnings per share for the current year.

Diamondback Energy Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, August 21st. Shareholders of record on Thursday, August 14th were issued a dividend of $1.00 per share. The ex-dividend date of this dividend was Thursday, August 14th. This represents a $4.00 annualized dividend and a yield of 2.9%. Diamondback Energy's dividend payout ratio is 28.43%.

Diamondback Energy Profile

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.

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