Diamondback Energy, Inc. $FANG Shares Sold by Atria Wealth Solutions Inc.

Atria Wealth Solutions Inc. decreased its position in shares of Diamondback Energy, Inc. (NASDAQ:FANG - Free Report) by 83.2% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,937 shares of the oil and natural gas company's stock after selling 14,542 shares during the period. Atria Wealth Solutions Inc.'s holdings in Diamondback Energy were worth $404,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of the company. Boston Partners lifted its stake in 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 acquiring an additional 249,098 shares in the last quarter. Bank of New York Mellon Corp lifted its stake in Diamondback Energy by 2.3% during the 1st quarter. Bank of New York Mellon Corp now owns 4,257,247 shares of the oil and natural gas company's stock worth $680,649,000 after acquiring an additional 94,177 shares in the last quarter. Diamond Hill Capital Management Inc. lifted its stake 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 worth $468,846,000 after acquiring an additional 114,930 shares in the last quarter. Wellington Management Group LLP lifted its stake 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 worth $311,792,000 after acquiring an additional 418,431 shares in the last quarter. Finally, Nuveen LLC acquired a new position in Diamondback Energy during the 1st quarter worth about $230,039,000. Institutional investors and hedge funds own 90.01% of the company's stock.

Analyst Upgrades and Downgrades

FANG has been the topic of several research reports. Royal Bank Of Canada reissued an "outperform" rating and set a $173.00 target price on shares of Diamondback Energy in a research note on Friday, October 10th. Evercore ISI increased their price target on Diamondback Energy from $165.00 to $175.00 and gave the company an "outperform" rating in a research report on Monday, October 6th. Barclays reduced their price target on Diamondback Energy from $185.00 to $178.00 and set an "overweight" rating on the stock in a research report on Tuesday, October 7th. KeyCorp reduced their price target on Diamondback Energy from $180.00 to $176.00 and set an "overweight" rating on the stock in a research report on Wednesday, September 3rd. Finally, Wells Fargo & Company reduced their price target on Diamondback Energy from $211.00 to $160.00 and set an "overweight" rating on the stock in a research report on Friday. Two investment analysts have rated the stock with a Strong Buy rating, twenty have assigned a Buy rating and one has issued a Hold rating to the company's stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Buy" and an average target price of $189.91.

Diamondback Energy Price Performance

Shares of NASDAQ FANG opened at $141.19 on Tuesday. The company has a debt-to-equity ratio of 0.35, a quick ratio of 0.52 and a current ratio of 0.55. Diamondback Energy, Inc. has a fifty-two week low of $114.00 and a fifty-two week high of $186.74. The firm has a market capitalization of $40.87 billion, a PE ratio of 10.03 and a beta of 1.04. The stock's 50-day simple moving average is $142.26 and its 200-day simple moving average is $140.48.

Diamondback Energy (NASDAQ:FANG - Get Free Report) last issued 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). Diamondback Energy had a return on equity of 9.48% and a net margin of 27.25%.The business had revenue of $3.68 billion for the quarter, compared to analyst estimates of $3.35 billion. During the same period last year, the business posted $4.52 EPS. Diamondback Energy's revenue was up 48.1% on a year-over-year basis. As a group, equities research analysts forecast that Diamondback Energy, Inc. will post 15.49 EPS for the current fiscal year.

Diamondback Energy Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, August 21st. Stockholders of record on Thursday, August 14th were given a dividend of $1.00 per share. This represents a $4.00 annualized dividend and a dividend yield of 2.8%. The ex-dividend date of this dividend was Thursday, August 14th. Diamondback Energy's dividend payout ratio (DPR) is 28.43%.

Insider Buying and Selling at Diamondback Energy

In other news, Chairman Travis D. Stice sold 20,400 shares of the firm's stock in a transaction dated 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 sale, the chairman owned 102,145 shares of the company's stock, valued at approximately $14,586,306. This trade represents a 16.65% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 0.70% of the company's stock.

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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