Diamondback Energy, Inc. $FANG Shares Sold by Aptus Capital Advisors LLC

Key Points

• Aptus Capital Advisors LLC reduced its stake in Diamondback Energy by 32.8%, selling over 52,000 shares, while still holding approximately $17.3 million worth.
• Diamondback Energy's recent earnings report showed $2.67 earnings per share, missing estimates, but revenues were stronger than expected at $3.68 billion.
• The company declared a $1.00 per share quarterly dividend, resulting in a yield of 2.9% and a payout ratio of 28.43%.

Aptus Capital Advisors LLC lowered its stake in shares of Diamondback Energy, Inc. (NASDAQ:FANG - Free Report) by 32.8% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 108,235 shares of the oil and natural gas company's stock after selling 52,832 shares during the quarter. Aptus Capital Advisors LLC's holdings in Diamondback Energy were worth $17,305,000 as of its most recent SEC filing.

Several other hedge funds have also recently modified their holdings of the stock. BankPlus Trust Department acquired a new position in Diamondback Energy in the 1st quarter worth approximately $27,000. Pinnacle Bancorp Inc. increased its holdings in Diamondback Energy by 95.7% in the 1st quarter. Pinnacle Bancorp Inc. now owns 180 shares of the oil and natural gas company's stock worth $29,000 after buying an additional 88 shares during the period. SouthState Corp increased its holdings in Diamondback Energy by 596.4% in the 1st quarter. SouthState Corp now owns 195 shares of the oil and natural gas company's stock worth $31,000 after buying an additional 167 shares during the period. Grove Bank & Trust increased its holdings in Diamondback Energy by 65.0% in the 1st quarter. Grove Bank & Trust now owns 203 shares of the oil and natural gas company's stock worth $32,000 after buying an additional 80 shares during the period. Finally, WASHINGTON TRUST Co increased its holdings in Diamondback Energy by 119.8% in the 1st quarter. WASHINGTON TRUST Co now owns 200 shares of the oil and natural gas company's stock worth $32,000 after buying an additional 109 shares during the period. Institutional investors and hedge funds own 90.01% of the company's stock.

Diamondback Energy Stock Performance

NASDAQ:FANG opened at $140.22 on Monday. 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 firm has a market capitalization of $40.59 billion, a price-to-earnings ratio of 9.97 and a beta of 1.09. The company's 50-day moving average is $143.65 and its two-hundred day moving average is $144.39. Diamondback Energy, Inc. has a 1-year low of $114.00 and a 1-year high of $200.47.

Diamondback Energy (NASDAQ:FANG - Get Free Report) last posted 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 firm had revenue of $3.68 billion during 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 business's revenue for the quarter was up 48.1% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $4.52 earnings per share. Analysts forecast that Diamondback Energy, Inc. will post 15.49 EPS for the current year.

Diamondback Energy Dividend Announcement

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

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on FANG. Raymond James Financial increased their price target on shares of Diamondback Energy from $204.00 to $221.00 and gave the stock a "strong-buy" rating in a report on Tuesday, July 22nd. Wall Street Zen lowered shares of Diamondback Energy from a "hold" rating to a "sell" rating in a report on Saturday, August 9th. Wells Fargo & Company lifted their target price on shares of Diamondback Energy from $210.00 to $211.00 and gave the company an "overweight" rating in a report on Thursday. Bank of America lifted their target price on shares of Diamondback Energy from $165.00 to $170.00 and gave the company a "buy" rating in a report on Friday, May 23rd. Finally, KeyCorp cut their target price on shares of Diamondback Energy from $216.00 to $180.00 and set an "overweight" rating for the company in a report on Monday, April 21st. One research analyst has rated the stock with a sell rating, one has issued a hold rating, eighteen have given a buy rating and two have issued a strong buy rating to the company's stock. Based on data from MarketBeat, Diamondback Energy currently has an average rating of "Moderate Buy" and an average target price of $191.45.

Insider Transactions at Diamondback Energy

In other Diamondback Energy news, Chairman Travis D. Stice sold 20,400 shares of the business'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 in the company, valued at $14,586,306. This represents a 16.65% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 0.48% of the stock is owned by company insiders.

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.

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