Diamondback Energy, Inc. $FANG Stock Holdings Boosted by Peterson Wealth Services

Peterson Wealth Services lifted its position in Diamondback Energy, Inc. (NASDAQ:FANG) by 11.9% during the second quarter, Holdings Channel reports. The institutional investor owned 28,261 shares of the oil and natural gas company’s stock after buying an additional 2,999 shares during the quarter. Diamondback Energy makes up approximately 1.1% of Peterson Wealth Services’ investment portfolio, making the stock its 24th largest position. Peterson Wealth Services’ holdings in Diamondback Energy were worth $3,883,000 at the end of the most recent reporting period.

Other large investors have also bought and sold shares of the company. Sumitomo Mitsui Trust Group Inc. raised its position in Diamondback Energy by 19.0% in the second quarter. Sumitomo Mitsui Trust Group Inc. now owns 548,359 shares of the oil and natural gas company’s stock worth $75,345,000 after acquiring an additional 87,415 shares in the last quarter. Asset Management One Co. Ltd. raised its holdings in shares of Diamondback Energy by 4.1% in the 2nd quarter. Asset Management One Co. Ltd. now owns 80,007 shares of the oil and natural gas company’s stock worth $10,993,000 after purchasing an additional 3,120 shares in the last quarter. Carnegie Investment Counsel lifted its stake in Diamondback Energy by 34.0% during the second quarter. Carnegie Investment Counsel now owns 2,384 shares of the oil and natural gas company’s stock valued at $328,000 after purchasing an additional 605 shares during the last quarter. Briaud Financial Planning Inc boosted its holdings in Diamondback Energy by 19.4% during the second quarter. Briaud Financial Planning Inc now owns 670 shares of the oil and natural gas company’s stock worth $92,000 after buying an additional 109 shares in the last quarter. Finally, Reliant Investment Management LLC grew its position in Diamondback Energy by 2,670.5% in the second quarter. Reliant Investment Management LLC now owns 34,936 shares of the oil and natural gas company’s stock worth $4,800,000 after buying an additional 33,675 shares during the last quarter. Institutional investors own 90.01% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have recently commented on FANG. Melius Research started coverage on Diamondback Energy in a research report on Wednesday, August 20th. They set a “buy” rating and a $213.00 price objective for the company. Scotiabank reaffirmed an “outperform” rating on shares of Diamondback Energy in a research report on Thursday, October 9th. Wells Fargo & Company decreased their price target on Diamondback Energy from $211.00 to $160.00 and set an “overweight” rating for the company in a research report on Friday, October 17th. Piper Sandler dropped their price target on Diamondback Energy from $228.00 to $222.00 and set an “overweight” rating on the stock in a research note on Thursday, August 14th. Finally, William Blair started coverage on shares of Diamondback Energy in a research note on Monday, August 25th. They set an “outperform” rating for the company. Two analysts have rated the stock with a Strong Buy rating, twenty have given a Buy rating and one has given a Hold rating to the company. According to MarketBeat.com, the company currently has an average rating of “Buy” and an average price target of $189.91.

Diamondback Energy Trading Down 0.9%

NASDAQ:FANG opened at $145.86 on Friday. The stock’s 50-day moving average is $142.61 and its two-hundred day moving average is $140.84. The company has a debt-to-equity ratio of 0.35, a current ratio of 0.55 and a quick ratio of 0.52. The stock has a market cap of $42.23 billion, a PE ratio of 10.37 and a beta of 1.04. Diamondback Energy, Inc. has a fifty-two week low of $114.00 and a fifty-two week high of $186.07.

Diamondback Energy (NASDAQ:FANG) last announced its quarterly earnings data on Monday, August 4th. The oil and natural gas company reported $2.67 EPS for the quarter, missing analysts’ consensus estimates of $2.72 by ($0.05). The company had revenue of $3.68 billion for the quarter, compared to analysts’ expectations of $3.35 billion. Diamondback Energy had a net margin of 27.25% and a return on equity of 9.48%. The business’s revenue for the quarter was up 48.1% on a year-over-year basis. During the same period in the previous year, the firm posted $4.52 earnings per share. As a group, equities research analysts forecast that Diamondback Energy, Inc. will post 15.49 earnings per share for the current fiscal year.

Diamondback Energy Announces Dividend

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

Insider Transactions at Diamondback Energy

In other Diamondback Energy news, Chairman Travis D. Stice sold 20,400 shares of the business’s stock in a transaction dated 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. The trade was a 16.65% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Insiders own 0.70% 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.