TruWealth Advisors LLC Has $21.61 Million Stock Holdings in Diamondback Energy, Inc. $FANG

Key Points

• TruWealth Advisors LLC increased its stake in Diamondback Energy by 25.6%, owning approximately 157,289 shares valued at $21.61 million as of the latest quarter.
• Diamondback Energy reported a miss in earnings with $2.67 EPS compared to the consensus estimate of $2.72, despite a 48.1% increase in revenue year-over-year.
• The company announced a quarterly dividend of $1.00, resulting in a 2.9% dividend yield, with a payout ratio of 28.43%.

TruWealth Advisors LLC lifted its holdings in shares of Diamondback Energy, Inc. (NASDAQ:FANG - Free Report) by 25.6% in the second quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 157,289 shares of the oil and natural gas company's stock after buying an additional 32,074 shares during the period. Diamondback Energy comprises about 1.2% of TruWealth Advisors LLC's portfolio, making the stock its 29th biggest holding. TruWealth Advisors LLC owned about 0.05% of Diamondback Energy worth $21,612,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also bought and sold shares of the company. Investor s Fiduciary Advisor Network LLC increased its holdings in Diamondback Energy by 2.1% in the 1st quarter. Investor s Fiduciary Advisor Network LLC now owns 3,559 shares of the oil and natural gas company's stock worth $569,000 after purchasing an additional 74 shares in the last quarter. Mesirow Financial Investment Management Inc. boosted its position in shares of Diamondback Energy by 5.6% during the 1st quarter. Mesirow Financial Investment Management Inc. now owns 1,414 shares of the oil and natural gas company's stock valued at $226,000 after purchasing an additional 75 shares in the last quarter. FourThought Financial Partners LLC raised its stake in Diamondback Energy by 2.9% during the 1st quarter. FourThought Financial Partners LLC now owns 2,779 shares of the oil and natural gas company's stock worth $444,000 after buying an additional 78 shares during the period. Grove Bank & Trust raised its stake in Diamondback Energy by 65.0% during 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, Biondo Investment Advisors LLC raised its stake in Diamondback Energy by 0.3% during the 1st quarter. Biondo Investment Advisors LLC now owns 28,858 shares of the oil and natural gas company's stock worth $4,614,000 after buying an additional 80 shares during the period. Institutional investors and hedge funds own 90.01% of the company's stock.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on FANG shares. William Blair began coverage on Diamondback Energy in a research note on Monday, August 25th. They issued an "outperform" rating for the company. Scotiabank reiterated an "outperform" rating on shares of Diamondback Energy in a research note on Friday, July 11th. Bank of America raised their target price on Diamondback Energy from $165.00 to $170.00 and gave the stock a "buy" rating in a research note on Friday, May 23rd. Susquehanna cut their target price on Diamondback Energy from $192.00 to $188.00 and set a "positive" rating for the company in a research note on Wednesday, July 23rd. Finally, Piper Sandler dropped their price target on Diamondback Energy from $228.00 to $222.00 and set an "overweight" rating for the company in a research report on Thursday, August 14th. Two research analysts have rated the stock with a Strong Buy rating, twenty-one have assigned a Buy rating and one has given a Hold rating to the stock. According to MarketBeat, Diamondback Energy has a consensus rating of "Buy" and a consensus target price of $193.17.

Diamondback Energy Trading Down 1.1%

NASDAQ FANG opened at $136.88 on Friday. The company has a quick ratio of 0.52, a current ratio of 0.55 and a debt-to-equity ratio of 0.35. Diamondback Energy, Inc. has a twelve month low of $114.00 and a twelve month high of $200.47. The firm has a market capitalization of $39.63 billion, a PE ratio of 9.73 and a beta of 1.14. The stock's 50 day moving average is $142.68 and its 200 day moving average is $142.15.

Diamondback Energy (NASDAQ:FANG - Get Free Report) last released its earnings results on Monday, August 4th. The oil and natural gas company reported $2.67 EPS 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 company had revenue of $3.68 billion during the quarter, compared to the consensus estimate of $3.35 billion. During the same period last year, the firm posted $4.52 earnings per share. The company's revenue was up 48.1% compared to the same quarter last year. Research analysts forecast that Diamondback Energy, Inc. will post 15.49 earnings per share for the current fiscal year.

Diamondback Energy Announces Dividend

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

Insider Activity at Diamondback Energy

In related news, Chairman Travis D. Stice sold 20,400 shares of the 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 completion of the sale, the chairman owned 102,145 shares in the company, valued at approximately $14,586,306. This trade represents a 16.65% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.70% 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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