KFG Wealth Management LLC Has $286,000 Stake in Diamondback Energy, Inc. $FANG

KFG Wealth Management LLC grew its holdings in Diamondback Energy, Inc. (NASDAQ:FANG) by 16.7% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 2,085 shares of the oil and natural gas company’s stock after purchasing an additional 298 shares during the quarter. KFG Wealth Management LLC’s holdings in Diamondback Energy were worth $286,000 as of its most recent filing with the SEC.

Several other large investors also recently made changes to their positions in FANG. Investor s Fiduciary Advisor Network LLC grew its holdings in Diamondback Energy by 2.1% during 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 acquiring an additional 74 shares during the last quarter. Mesirow Financial Investment Management Inc. lifted its position in shares of Diamondback Energy by 5.6% during the first quarter. Mesirow Financial Investment Management Inc. now owns 1,414 shares of the oil and natural gas company’s stock worth $226,000 after purchasing an additional 75 shares in the last quarter. FourThought Financial Partners LLC grew its stake in shares of Diamondback Energy by 2.9% during the first quarter. FourThought Financial Partners LLC now owns 2,779 shares of the oil and natural gas company’s stock valued at $444,000 after purchasing an additional 78 shares during the last quarter. Grove Bank & Trust increased its holdings in shares of Diamondback Energy by 65.0% in the first quarter. Grove Bank & Trust now owns 203 shares of the oil and natural gas company’s stock valued at $32,000 after purchasing an additional 80 shares in the last quarter. Finally, Biondo Investment Advisors LLC raised its position in Diamondback Energy by 0.3% in 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 purchasing an additional 80 shares during the last quarter. Institutional investors own 90.01% of the company’s stock.

Diamondback Energy Trading Down 0.6%

Shares of NASDAQ:FANG opened at $138.83 on Tuesday. Diamondback Energy, Inc. has a 12 month low of $114.00 and a 12 month high of $200.47. The company has a quick ratio of 0.52, a current ratio of 0.55 and a debt-to-equity ratio of 0.35. The company’s fifty day simple moving average is $142.27 and its 200 day simple moving average is $141.76. The firm has a market cap of $40.19 billion, a price-to-earnings ratio of 9.87 and a beta of 1.15.

Diamondback Energy (NASDAQ:FANG) last announced its earnings results on Monday, August 4th. The oil and natural gas company reported $2.67 earnings per share for the quarter, missing analysts’ consensus estimates 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 analyst estimates of $3.35 billion. During the same period in the previous year, the company posted $4.52 earnings per share. Diamondback Energy’s revenue for the quarter was up 48.1% on a year-over-year basis. As a group, research analysts forecast that Diamondback Energy, Inc. will post 15.49 EPS for the current fiscal year.

Diamondback Energy Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, August 21st. Investors of record on Thursday, August 14th were given a $1.00 dividend. This represents a $4.00 dividend on an annualized basis and a yield of 2.9%. The ex-dividend date of this dividend was Thursday, August 14th. Diamondback Energy’s dividend payout ratio (DPR) is currently 28.43%.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on the company. Mizuho decreased their price objective 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 report on Wednesday, August 20th. They issued a “buy” rating and a $213.00 price target on the stock. Melius Research initiated coverage on Diamondback Energy in a report on Wednesday, August 20th. They set a “buy” rating and a $213.00 price objective for the company. KeyCorp cut their target price on shares of 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, Raymond James Financial lowered their price target on shares of Diamondback Energy from $221.00 to $212.00 and set a “strong-buy” rating for the company in a research report on Wednesday, August 20th. Two analysts have rated the stock with a Strong Buy rating and twenty-one have given a Buy rating to the stock. According to data from MarketBeat, Diamondback Energy has an average rating of “Buy” and an average price target of $193.39.

Insider Buying and Selling

In other Diamondback Energy news, Chairman Travis D. Stice sold 20,400 shares of the company’s stock in a transaction that occurred 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 owned 102,145 shares of the company’s stock, valued at $14,586,306. This represents a 16.65% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Insiders own 0.48% of the company’s stock.

About Diamondback Energy

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.