Diamondback Energy, Inc. $FANG Stock Holdings Lifted by Integrated Wealth Concepts LLC

Key Points

• Integrated Wealth Concepts LLC increased its stake in Diamondback Energy, Inc. by 23.7%, owning 38,524 shares valued at approximately $6.16 million after acquiring an additional 7,381 shares in the first quarter.
• Chairman Travis D. Stice sold 20,400 shares of Diamondback Energy for about $2.91 million, reducing his stake by 16.65%.
• Diamondback Energy reported a net margin of 27.25% for the recent quarter, with earnings of $2.67 per share, missing estimates by $0.05 but achieving revenues of $3.68 billion, exceeding analyst expectations.

Integrated Wealth Concepts LLC lifted its stake in shares of Diamondback Energy, Inc. (NASDAQ:FANG - Free Report) by 23.7% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 38,524 shares of the oil and natural gas company's stock after purchasing an additional 7,381 shares during the quarter. Integrated Wealth Concepts LLC's holdings in Diamondback Energy were worth $6,159,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Cary Street Partners Financial LLC bought a new stake in Diamondback Energy during the fourth quarter worth approximately $55,000. Captrust Financial Advisors raised its stake in shares of Diamondback Energy by 3.2% in the 4th quarter. Captrust Financial Advisors now owns 27,887 shares of the oil and natural gas company's stock worth $4,569,000 after buying an additional 876 shares in the last quarter. CoreCap Advisors LLC lifted its holdings in shares of Diamondback Energy by 24.2% in the fourth quarter. CoreCap Advisors LLC now owns 776 shares of the oil and natural gas company's stock valued at $127,000 after buying an additional 151 shares during the period. Deutsche Bank AG boosted its stake in Diamondback Energy by 36.9% during the fourth quarter. Deutsche Bank AG now owns 940,582 shares of the oil and natural gas company's stock valued at $154,096,000 after buying an additional 253,604 shares in the last quarter. Finally, Fiduciary Trust Co grew its holdings in Diamondback Energy by 16.9% during the fourth quarter. Fiduciary Trust Co now owns 6,805 shares of the oil and natural gas company's stock worth $1,115,000 after acquiring an additional 986 shares during the period. 90.01% of the stock is currently owned by institutional investors.

Diamondback Energy Trading Up 2.5%

NASDAQ FANG traded up $3.35 on Wednesday, hitting $139.64. 2,004,632 shares of the stock were exchanged, compared to its average volume of 2,384,840. Diamondback Energy, Inc. has a 52-week low of $114.00 and a 52-week high of $200.47. 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 $40.42 billion, a price-to-earnings ratio of 9.92 and a beta of 1.14. The company's 50-day moving average price is $142.85 and its two-hundred day moving average price is $142.46.

Diamondback Energy (NASDAQ:FANG - Get Free Report) last posted its quarterly 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 quarterly revenue was up 48.1% on a year-over-year basis. During the same period in the previous year, the firm posted $4.52 earnings per share. Research analysts predict that Diamondback Energy, Inc. will post 15.49 EPS for the current year.

Diamondback Energy Announces Dividend

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

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 that occurred on 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 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 Securities & Exchange Commission, which is available through the SEC website. Insiders own 0.48% of the company's stock.

Analyst Ratings Changes

A number of equities research analysts have weighed in on FANG shares. Melius Research started 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. Melius initiated coverage on shares of Diamondback Energy in a report on Wednesday, August 20th. They issued a "buy" rating and a $213.00 target price on the stock. Scotiabank restated an "outperform" rating on shares of Diamondback Energy in a research report on Friday, July 11th. UBS Group increased their price objective on Diamondback Energy from $163.00 to $171.00 and gave the company a "buy" rating in a research report on Wednesday, August 20th. Finally, Raymond James Financial decreased their target price on Diamondback Energy from $221.00 to $212.00 and set a "strong-buy" rating on the stock in a report on Wednesday, August 20th. Two equities research analysts have rated the stock with a Strong Buy rating, twenty-one have issued a Buy rating and one has assigned a Hold rating to the company's stock. According to data from MarketBeat.com, the stock has a consensus rating of "Buy" and a consensus target price of $193.17.

Diamondback Energy Company 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.