Talon Private Wealth LLC Makes New $1.99 Million Investment in Diamondback Energy, Inc. $FANG

Key Points

• Talon Private Wealth acquired 10,082 Diamondback Energy shares during the first quarter, valued at approximately $1.99 million. Institutional investors collectively own 90.01% of the company.
• Company insiders sold 113,691 shares worth about $21.6 million over the past 90 days, including significant sales by a director and the chief accounting officer.
• Diamondback Energy exceeded quarterly expectations, reporting $4.23 in earnings per share versus a $3.74 consensus estimate and $4.24 billion in revenue. Analysts maintain a “Buy” average rating with a consensus price target of $218.68.

Talon Private Wealth LLC acquired a new position in Diamondback Energy, Inc. (NASDAQ:FANG - Free Report) during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund acquired 10,082 shares of the oil and natural gas company's stock, valued at approximately $1,994,000.

Several other institutional investors have also modified their holdings of the company. Flagship Harbor Advisors LLC acquired a new stake in Diamondback Energy in the 4th quarter valued at about $25,000. Richardson Financial Services Inc. boosted its stake in shares of Diamondback Energy by 245.1% during the 4th quarter. Richardson Financial Services Inc. now owns 176 shares of the oil and natural gas company's stock worth $26,000 after acquiring an additional 125 shares in the last quarter. Laurel Wealth Advisors LLC acquired a new stake in shares of Diamondback Energy during the fourth quarter worth $26,000. Cedar Mountain Advisors LLC acquired a new stake in shares of Diamondback Energy during the first quarter worth $26,000. Finally, JPL Wealth Management LLC purchased a new stake in shares of Diamondback Energy during the third quarter valued at $26,000. Institutional investors and hedge funds own 90.01% of the company's stock.

Insiders Place Their Bets

In other news, CAO Teresa L. Dick sold 7,000 shares of the stock in a transaction that occurred on Tuesday, June 2nd. The stock was sold at an average price of $200.90, for a total value of $1,406,300.00. Following the completion of the sale, the chief accounting officer directly owned 85,755 shares of the company's stock, valued at approximately $17,228,179.50. This represents a 7.55% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Charles Alvin Meloy sold 83,334 shares of the company's stock in a transaction on Tuesday, June 16th. The shares were sold at an average price of $187.12, for a total transaction of $15,593,458.08. Following the transaction, the director owned 851,530 shares of the company's stock, valued at approximately $159,338,293.60. The trade was a 8.91% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 113,691 shares of company stock worth $21,622,752 in the last 90 days. 0.64% of the stock is owned by company insiders.

Diamondback Energy Trading Down 2.8%

Shares of NASDAQ FANG opened at $190.30 on Wednesday. The business has a 50 day simple moving average of $190.87 and a 200 day simple moving average of $183.53. Diamondback Energy, Inc. has a 52 week low of $134.30 and a 52 week high of $214.51. The stock has a market cap of $53.53 billion, a price-to-earnings ratio of 221.28 and a beta of 0.42. The company has a debt-to-equity ratio of 0.31, a quick ratio of 0.55 and a current ratio of 0.56.

Diamondback Energy (NASDAQ:FANG - Get Free Report) last posted its earnings results on Monday, May 4th. The oil and natural gas company reported $4.23 earnings per share for the quarter, beating the consensus estimate of $3.74 by $0.49. Diamondback Energy had a return on equity of 7.76% and a net margin of 1.87%.The company had revenue of $4.24 billion for the quarter, compared to analyst estimates of $3.83 billion. During the same period last year, the company earned $4.54 earnings per share. The business's revenue was up 4.7% compared to the same quarter last year. On average, research analysts predict that Diamondback Energy, Inc. will post 18.9 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several brokerages have commented on FANG. Barclays raised their target price on shares of Diamondback Energy from $225.00 to $232.00 and gave the stock an "overweight" rating in a report on Tuesday, May 26th. Sanford C. Bernstein boosted their price target on shares of Diamondback Energy from $237.00 to $241.00 and gave the company an "outperform" rating in a report on Monday, May 11th. Raymond James Financial restated a "strong-buy" rating and issued a $249.00 price target on shares of Diamondback Energy in a research report on Wednesday, June 10th. Weiss Ratings lowered shares of Diamondback Energy from a "hold (c)" rating to a "hold (c-)" rating in a research note on Thursday, July 16th. Finally, Citigroup lowered their price objective on shares of Diamondback Energy from $245.00 to $221.00 and set a "buy" rating on the stock in a research report on Monday, July 20th. Four research analysts have rated the stock with a Strong Buy rating, seventeen have issued a Buy rating and four have given a Hold rating to the company. According to MarketBeat, the company presently has an average rating of "Buy" and an average target price of $218.68.

Diamondback Energy Company Profile

Diamondback Energy, Inc NASDAQ: FANG is an independent oil and natural gas company focused on the development, exploration and production of unconventional resources in the Permian Basin. Headquartered in Midland, Texas, the company concentrates its operations in the core Midland and Delaware sub‑basins of West Texas and southeastern New Mexico, where it pursues contiguous acreage positions to support repeatable drilling programs.

Diamondback's activities span the upstream value chain, including leasehold acquisition, well planning, drilling, completion and production optimization.

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