Diamondback Energy, Inc. $FANG Shares Bought by CreativeOne Wealth LLC

Key Points

• CreativeOne Wealth LLC increased its holdings in Diamondback Energy by 33.9%, acquiring an additional 3,306 shares, bringing its total to 13,071 shares valued at approximately $2,090,000.
• Diamondback Energy reported an EPS of $2.67 for the last quarter, missing analysts' expectations, while its revenue surged 48.1% year-over-year to $3.68 billion.
• The company recently declared a quarterly dividend of $1.00 per share, translating to an annualized dividend yield of 2.7%.

CreativeOne Wealth LLC raised its holdings in shares of Diamondback Energy, Inc. (NASDAQ:FANG - Free Report) by 33.9% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 13,071 shares of the oil and natural gas company's stock after acquiring an additional 3,306 shares during the period. CreativeOne Wealth LLC's holdings in Diamondback Energy were worth $2,090,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also bought and sold shares of the company. Keeley Teton Advisors LLC lifted its stake in shares of Diamondback Energy by 1.1% in the 1st quarter. Keeley Teton Advisors LLC now owns 12,245 shares of the oil and natural gas company's stock valued at $1,958,000 after purchasing an additional 131 shares during the period. Comerica Bank lifted its stake in shares of Diamondback Energy by 20.1% in the 1st quarter. Comerica Bank now owns 71,430 shares of the oil and natural gas company's stock valued at $11,420,000 after purchasing an additional 11,952 shares during the period. Oak Harvest Investment Services lifted its stake in shares of Diamondback Energy by 5.7% in the 1st quarter. Oak Harvest Investment Services now owns 41,120 shares of the oil and natural gas company's stock valued at $6,574,000 after purchasing an additional 2,217 shares during the period. Smartleaf Asset Management LLC lifted its stake in shares of Diamondback Energy by 7.5% in the 1st quarter. Smartleaf Asset Management LLC now owns 2,959 shares of the oil and natural gas company's stock valued at $466,000 after purchasing an additional 207 shares during the period. Finally, Biondo Investment Advisors LLC lifted its stake in shares of Diamondback Energy by 0.3% in the 1st quarter. Biondo Investment Advisors LLC now owns 28,858 shares of the oil and natural gas company's stock valued at $4,614,000 after purchasing an additional 80 shares during the period. 90.01% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

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 value of $2,913,120.00. Following the transaction, the chairman 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 filing with the SEC, which is available through this link. Corporate insiders own 0.48% of the company's stock.

Diamondback Energy Trading Up 0.5%

Shares of FANG traded up $0.80 during mid-day trading on Tuesday, reaching $149.56. The stock had a trading volume of 775,873 shares, compared to its average volume of 2,395,167. The company has a debt-to-equity ratio of 0.35, a current ratio of 0.55 and a quick ratio of 0.52. Diamondback Energy, Inc. has a 52-week low of $114.00 and a 52-week high of $200.47. The business's fifty day moving average is $142.62 and its 200 day moving average is $143.07. The firm has a market cap of $43.30 billion, a price-to-earnings ratio of 10.62 and a beta of 1.15.

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

Diamondback Energy Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, August 21st. Investors of record on Thursday, August 14th were issued a $1.00 dividend. The ex-dividend date of this dividend was Thursday, August 14th. This represents a $4.00 dividend on an annualized basis and a dividend yield of 2.7%. Diamondback Energy's dividend payout ratio is currently 28.43%.

Analysts Set New Price Targets

Several equities analysts recently issued reports on FANG shares. Melius started coverage on shares of Diamondback Energy in a research note on Wednesday, August 20th. They issued a "buy" rating and a $213.00 target price for the company. Wall Street Zen cut shares of Diamondback Energy from a "hold" rating to a "sell" rating in a research note on Saturday, August 9th. Raymond James Financial cut their price target on shares of Diamondback Energy from $221.00 to $212.00 and set a "strong-buy" rating for the company in a report on Wednesday, August 20th. Melius Research began coverage on shares of Diamondback Energy in a report on Wednesday, August 20th. They issued a "buy" rating and a $213.00 price target for the company. Finally, Morgan Stanley boosted their price target on shares of Diamondback Energy from $184.00 to $186.00 and gave the stock an "overweight" rating in a report on Monday, August 18th. Two analysts have rated the stock with a Strong Buy rating, twenty-one have given a Buy rating and one has given a Hold rating to the company's stock. Based on data from MarketBeat, the stock has a consensus rating of "Buy" and a consensus price target of $193.33.

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.