Second Half Financial Partners LLC Sells 91 Shares of Diamondback Energy, Inc. $FANG

Second Half Financial Partners LLC decreased its stake in Diamondback Energy, Inc. (NASDAQ:FANG) by 2.9% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 3,054 shares of the oil and natural gas company’s stock after selling 91 shares during the period. Second Half Financial Partners LLC’s holdings in Diamondback Energy were worth $420,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds also recently made changes to their positions in FANG. UMB Bank n.a. increased its stake in shares of Diamondback Energy by 172.8% in the first quarter. UMB Bank n.a. now owns 521 shares of the oil and natural gas company’s stock valued at $83,000 after buying an additional 330 shares during the period. Farther Finance Advisors LLC increased its stake in shares of Diamondback Energy by 36.0% in the first quarter. Farther Finance Advisors LLC now owns 1,085 shares of the oil and natural gas company’s stock valued at $174,000 after buying an additional 287 shares during the period. Integrated Advisors Network LLC increased its stake in shares of Diamondback Energy by 7.2% in the first quarter. Integrated Advisors Network LLC now owns 2,800 shares of the oil and natural gas company’s stock valued at $448,000 after buying an additional 187 shares during the period. CX Institutional acquired a new stake in shares of Diamondback Energy in the first quarter valued at about $502,000. Finally, Simon Quick Advisors LLC increased its stake in shares of Diamondback Energy by 8.7% in the first quarter. Simon Quick Advisors LLC now owns 1,339 shares of the oil and natural gas company’s stock valued at $214,000 after buying an additional 107 shares during the period. Institutional investors and hedge funds own 90.01% of the company’s stock.

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 that occurred on Thursday, August 7th. The stock was sold at an average price of $142.80, for a total value of $2,913,120.00. Following the transaction, the chairman owned 102,145 shares in the company, valued at $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 Securities & Exchange Commission, which is available through this hyperlink. 0.70% of the stock is owned by corporate insiders.

Diamondback Energy Stock Down 3.0%

Shares of NASDAQ:FANG opened at $139.82 on Friday. The business’s 50 day simple moving average is $142.51 and its two-hundred day simple moving average is $141.03. The firm has a market cap of $40.48 billion, a P/E ratio of 9.94 and a beta of 1.04. 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 52-week low of $114.00 and a 52-week high of $196.00.

Diamondback Energy (NASDAQ:FANG) last announced its quarterly earnings results on Monday, August 4th. The oil and natural gas company reported $2.67 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.72 by ($0.05). The firm had revenue of $3.68 billion during 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%.The firm’s revenue was up 48.1% on a year-over-year basis. During the same quarter in the previous year, the company posted $4.52 EPS. As a group, research analysts forecast that Diamondback Energy, Inc. will post 15.49 EPS for the current fiscal year.

Diamondback Energy Dividend Announcement

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

Wall Street Analyst Weigh In

Several research firms recently commented on FANG. KeyCorp decreased their target price on Diamondback Energy from $180.00 to $176.00 and set an “overweight” rating for the company in a research note on Wednesday, September 3rd. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Diamondback Energy in a research note on Wednesday. Morgan Stanley raised their target price on Diamondback Energy from $184.00 to $186.00 and gave the stock an “overweight” rating in a research note on Monday, August 18th. Barclays decreased their target price on Diamondback Energy from $185.00 to $178.00 and set an “overweight” rating for the company in a research note on Tuesday, October 7th. Finally, Wells Fargo & Company raised their target price on Diamondback Energy from $210.00 to $211.00 and gave the stock an “overweight” rating in a research note on Thursday, August 14th. Two research analysts have rated the stock with a Strong Buy rating, twenty have issued a Buy rating and one has issued a Hold rating to the stock. According to MarketBeat, the stock currently has an average rating of “Buy” and a consensus target price of $192.32.

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.