Diamondback Energy, Inc. $FANG Stock Position Lessened by Shelton Wealth Management LLC

Key Points

• Shelton Wealth Management LLC significantly reduced its holdings in Diamondback Energy, cutting its position by 66.2% to 3,083 shares worth $424,000.
• Multiple institutional investors increased their positions in Diamondback Energy, with IFM Investors growing its stake by 4.4% and Moody National Bank Trust Division by 32.2%.
• Despite missing earnings expectations, Diamondback Energy reported a 48.1% year-over-year revenue increase of $3.68 billion for the last quarter.

Shelton Wealth Management LLC lessened its stake in Diamondback Energy, Inc. (NASDAQ:FANG - Free Report) by 66.2% in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 3,083 shares of the oil and natural gas company's stock after selling 6,041 shares during the quarter. Shelton Wealth Management LLC's holdings in Diamondback Energy were worth $424,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Robeco Institutional Asset Management B.V. boosted its holdings in Diamondback Energy by 4.0% in the 1st quarter. Robeco Institutional Asset Management B.V. now owns 36,177 shares of the oil and natural gas company's stock worth $5,784,000 after acquiring an additional 1,384 shares during the period. Oppenheimer Asset Management Inc. boosted its holdings in Diamondback Energy by 6.3% in the 1st quarter. Oppenheimer Asset Management Inc. now owns 58,853 shares of the oil and natural gas company's stock worth $9,409,000 after acquiring an additional 3,467 shares during the period. China Universal Asset Management Co. Ltd. boosted its holdings in Diamondback Energy by 50.4% in the 1st quarter. China Universal Asset Management Co. Ltd. now owns 7,149 shares of the oil and natural gas company's stock worth $1,143,000 after acquiring an additional 2,397 shares during the period. True North Advisors LLC purchased a new position in Diamondback Energy in the 1st quarter worth approximately $327,000. Finally, Wealth Advisory Solutions LLC purchased a new position in Diamondback Energy in the 1st quarter worth approximately $2,631,000. Hedge funds and other institutional investors own 90.01% of the company's stock.

Insider Buying and Selling

In related news, Chairman Travis D. Stice sold 20,400 shares of the company's stock in a transaction 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 $14,586,306. This represents a 16.65% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.48% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on the company. Raymond James Financial cut their target price on Diamondback Energy from $221.00 to $212.00 and set a "strong-buy" rating on the stock in a research report on Wednesday, August 20th. Mizuho cut their target price on Diamondback Energy from $183.00 to $176.00 and set an "outperform" rating on the stock in a research report on Monday, September 15th. Melius assumed coverage on Diamondback Energy in a research report on Wednesday, August 20th. They issued a "buy" rating and a $213.00 target price on the stock. UBS Group upped their target price 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, Wells Fargo & Company upped their target price on Diamondback Energy from $210.00 to $211.00 and gave the company an "overweight" rating in a research report on Thursday, August 14th. Two equities research analysts have rated the stock with a Strong Buy rating and twenty-one have issued a Buy rating to the company's stock. Based on data from MarketBeat, the company has an average rating of "Buy" and a consensus price target of $193.39.

Diamondback Energy Stock Performance

FANG traded up $3.69 during trading on Tuesday, reaching $142.52. 1,393,939 shares of the company were exchanged, compared to its average volume of 2,381,851. The stock has a market cap of $41.26 billion, a P/E ratio of 10.13 and a beta of 1.15. The firm has a 50 day moving average of $142.27 and a 200 day moving average of $141.76. The company has a current ratio of 0.55, a quick ratio of 0.52 and a debt-to-equity ratio of 0.35. Diamondback Energy, Inc. has a 52 week low of $114.00 and a 52 week high of $200.47.

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

Diamondback Energy Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, August 21st. Investors of record on Thursday, August 14th were paid a dividend of $1.00 per share. This represents a $4.00 dividend on an annualized basis and a yield of 2.8%. The ex-dividend date 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.