Diamondback Energy, Inc. $FANG Shares Purchased by Caliber Wealth Management LLC KS

Key Points

• Caliber Wealth Management LLC KS increased its shareholding in Diamondback Energy by 18.6% in Q2, now owning 11,823 shares valued at approximately $1,625,000.
• Insider activity revealed that Chairman Travis D. Stice sold 20,400 shares at an average price of $142.80, reducing his ownership by 16.65% to approximately 102,145 shares.
• Analysts maintain a consensus Buy rating for Diamondback Energy, with an average price target of $189.91, despite recent price adjustments from several firms.

Caliber Wealth Management LLC KS raised its holdings in shares of Diamondback Energy, Inc. (NASDAQ:FANG - Free Report) by 18.6% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 11,823 shares of the oil and natural gas company's stock after acquiring an additional 1,851 shares during the quarter. Caliber Wealth Management LLC KS's holdings in Diamondback Energy were worth $1,625,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds also recently modified their holdings of FANG. Boston Partners increased its stake in shares of Diamondback Energy by 4.8% during the 1st quarter. Boston Partners now owns 5,418,840 shares of the oil and natural gas company's stock worth $861,961,000 after purchasing an additional 249,098 shares in the last quarter. Bank of New York Mellon Corp lifted its stake in Diamondback Energy by 2.3% in the 1st quarter. Bank of New York Mellon Corp now owns 4,257,247 shares of the oil and natural gas company's stock valued at $680,649,000 after buying an additional 94,177 shares in the last quarter. Diamond Hill Capital Management Inc. grew its holdings in Diamondback Energy by 4.1% during the 1st quarter. Diamond Hill Capital Management Inc. now owns 2,932,484 shares of the oil and natural gas company's stock valued at $468,846,000 after buying an additional 114,930 shares during the last quarter. Wellington Management Group LLP grew its holdings in Diamondback Energy by 27.3% during the 1st quarter. Wellington Management Group LLP now owns 1,950,160 shares of the oil and natural gas company's stock valued at $311,792,000 after buying an additional 418,431 shares during the last quarter. Finally, Nuveen LLC purchased a new position in Diamondback Energy during the first quarter worth $230,039,000. Hedge funds and other institutional investors own 90.01% of the company's stock.

Insider Activity

In other news, Chairman Travis D. Stice sold 20,400 shares of the stock in a transaction that occurred on Thursday, August 7th. The stock was sold at an average price of $142.80, for a total transaction of $2,913,120.00. Following the completion of the transaction, the chairman directly owned 102,145 shares in the company, valued at approximately $14,586,306. This represents a 16.65% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 0.48% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on FANG shares. Mizuho dropped their price objective on Diamondback Energy from $183.00 to $176.00 and set an "outperform" rating for the company in a research report on Monday, September 15th. Melius assumed coverage on shares of Diamondback Energy in a report on Wednesday, August 20th. They set a "buy" rating and a $213.00 price target for the company. Scotiabank reissued an "outperform" rating on shares of Diamondback Energy in a research report on Thursday, October 9th. Raymond James Financial reduced 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 research note on Wednesday, August 20th. Finally, Evercore ISI increased their price target on Diamondback Energy from $165.00 to $175.00 and gave the stock an "outperform" rating in a research note on Monday, October 6th. Two research analysts have rated the stock with a Strong Buy rating, twenty have given a Buy rating and one has issued a Hold rating to the company's stock. According to MarketBeat.com, the company presently has a consensus rating of "Buy" and an average price target of $189.91.

Diamondback Energy Stock Performance

Diamondback Energy stock opened at $141.53 on Wednesday. Diamondback Energy, Inc. has a 12-month low of $114.00 and a 12-month high of $186.07. The company has a debt-to-equity ratio of 0.35, a current ratio of 0.55 and a quick ratio of 0.52. The company has a market capitalization of $40.97 billion, a price-to-earnings ratio of 10.06 and a beta of 1.04. The firm's fifty day moving average price is $142.32 and its 200 day moving average price is $140.49.

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

Diamondback Energy Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, August 21st. Shareholders of record on Thursday, August 14th were given a $1.00 dividend. This represents a $4.00 dividend on an annualized basis and a dividend yield of 2.8%. The ex-dividend date of this dividend was Thursday, August 14th. Diamondback Energy's dividend payout ratio is presently 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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