Brookstone Capital Management Has $1.71 Million Holdings in Diamondback Energy, Inc. $FANG

Brookstone Capital Management lessened its position in Diamondback Energy, Inc. (NASDAQ:FANG) by 6.1% during the 2nd quarter, HoldingsChannel.com reports. The fund owned 12,410 shares of the oil and natural gas company’s stock after selling 811 shares during the period. Brookstone Capital Management’s holdings in Diamondback Energy were worth $1,705,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also recently bought and sold shares of FANG. FNY Investment Advisers LLC bought a new position in shares of Diamondback Energy during the 2nd quarter worth about $54,000. D.A. Davidson & CO. boosted its position in shares of Diamondback Energy by 14.6% during the 2nd quarter. D.A. Davidson & CO. now owns 25,911 shares of the oil and natural gas company’s stock valued at $3,560,000 after acquiring an additional 3,294 shares in the last quarter. Cullen Frost Bankers Inc. boosted its position in shares of Diamondback Energy by 23.3% during the 2nd quarter. Cullen Frost Bankers Inc. now owns 107,967 shares of the oil and natural gas company’s stock valued at $14,835,000 after acquiring an additional 20,419 shares in the last quarter. Dupree Financial Group LLC acquired a new stake in shares of Diamondback Energy during the 2nd quarter valued at about $2,919,000. Finally, Aurora Investment Counsel boosted its position in shares of Diamondback Energy by 5.5% during the 2nd quarter. Aurora Investment Counsel now owns 7,324 shares of the oil and natural gas company’s stock valued at $1,006,000 after acquiring an additional 379 shares in the last quarter. 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 firm’s stock in a transaction dated Thursday, August 7th. The shares were sold at an average price of $142.80, for a total transaction of $2,913,120.00. Following the transaction, the chairman directly owned 102,145 shares of the company’s stock, 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 legal filing with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 0.70% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on the stock. Barclays decreased their target price on shares of Diamondback Energy from $185.00 to $178.00 and set an “overweight” rating on the stock in a research report on Tuesday, October 7th. UBS Group boosted their price target on shares of Diamondback Energy from $163.00 to $171.00 and gave the stock a “buy” rating in a research note on Wednesday, August 20th. Weiss Ratings reissued a “hold (c-)” rating on shares of Diamondback Energy in a research note on Friday. Scotiabank reissued an “outperform” rating on shares of Diamondback Energy in a research note on Thursday, October 9th. Finally, Piper Sandler dropped their price target on shares of Diamondback Energy from $228.00 to $222.00 and set an “overweight” rating for the company in a research note on Thursday, August 14th. Two investment analysts have rated the stock with a Strong Buy rating, twenty have given a Buy rating and one has assigned a Hold rating to the company. According to MarketBeat.com, Diamondback Energy presently has an average rating of “Buy” and an average price target of $189.91.

Diamondback Energy Stock Down 0.9%

Shares of NASDAQ:FANG opened at $145.86 on Friday. The company has a 50 day moving average price of $142.61 and a two-hundred day moving average price of $140.84. 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 $186.07. The company has a market capitalization of $42.23 billion, a PE ratio of 10.37 and a beta of 1.04.

Diamondback Energy (NASDAQ:FANG) last issued its quarterly earnings data 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). 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 for the quarter, compared to the consensus estimate of $3.35 billion. During the same period in the prior year, the company earned $4.52 EPS. The firm’s revenue was up 48.1% on a year-over-year basis. Analysts forecast that Diamondback Energy, Inc. will post 15.49 earnings per share for the current year.

Diamondback Energy Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, August 21st. Investors of record on Thursday, August 14th were given a dividend of $1.00 per share. This represents a $4.00 dividend on an annualized basis and a yield of 2.7%. The ex-dividend date of this dividend was Thursday, August 14th. Diamondback Energy’s dividend payout ratio (DPR) is currently 28.43%.

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.