Allworth Financial LP Has $2.08 Million Stock Holdings in Diamondback Energy, Inc. $FANG

Allworth Financial LP boosted its position in shares of Diamondback Energy, Inc. (NASDAQ:FANG) by 43.3% during the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 11,812 shares of the oil and natural gas company’s stock after acquiring an additional 3,568 shares during the period. Allworth Financial LP’s holdings in Diamondback Energy were worth $2,076,000 at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in the company. Cedar Mountain Advisors LLC bought a new stake in shares of Diamondback Energy in the 1st quarter worth approximately $26,000. JPL Wealth Management LLC acquired a new position in shares of Diamondback Energy in the third quarter valued at $26,000. Wellington Shields & Co. LLC raised its stake in shares of Diamondback Energy by 264.7% in the fourth quarter. Wellington Shields & Co. LLC now owns 186 shares of the oil and natural gas company’s stock valued at $28,000 after purchasing an additional 135 shares in the last quarter. Meeder Asset Management Inc. bought a new position in Diamondback Energy in the second quarter worth $28,000. Finally, Lloyd Advisory Services LLC. bought a new position in Diamondback Energy in the fourth quarter worth $31,000. Institutional investors and hedge funds own 90.01% of the company’s stock.

Diamondback Energy Stock Down 0.2%

FANG opened at $204.97 on Friday. The firm has a market cap of $57.40 billion, a price-to-earnings ratio of 39.96 and a beta of 0.43. The company has a debt-to-equity ratio of 0.25, a quick ratio of 0.45 and a current ratio of 0.47. The firm’s 50-day simple moving average is $197.79 and its 200-day simple moving average is $192.74. Diamondback Energy, Inc. has a twelve month low of $134.30 and a twelve month high of $216.90.

Diamondback Energy (NASDAQ:FANG) last announced its quarterly earnings results on Monday, August 3rd. The oil and natural gas company reported $6.48 earnings per share (EPS) for the quarter, beating the consensus estimate of $6.08 by $0.40. The firm had revenue of $5.56 billion during the quarter, compared to the consensus estimate of $4.89 billion. Diamondback Energy had a net margin of 8.58% and a return on equity of 10.10%. The firm’s quarterly revenue was up 51.2% on a year-over-year basis. During the same period last year, the firm posted $2.38 EPS. Equities research analysts anticipate that Diamondback Energy, Inc. will post 20.14 EPS for the current fiscal year.

Diamondback Energy Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, August 20th. Stockholders of record on Thursday, August 13th were paid a $1.10 dividend. The ex-dividend date was Thursday, August 13th. This represents a $4.40 dividend on an annualized basis and a dividend yield of 2.1%. Diamondback Energy’s payout ratio is 85.77%.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on the stock. Truist Financial boosted their price target on shares of Diamondback Energy from $220.00 to $224.00 and gave the company a “buy” rating in a report on Wednesday, August 5th. Raymond James Financial reiterated a “strong-buy” rating and set a $248.00 target price on shares of Diamondback Energy in a research report on Friday, July 31st. Stifel Nicolaus assumed coverage on shares of Diamondback Energy in a research report on Thursday. They issued a “buy” rating and a $259.00 price target for the company. Zacks Research cut shares of Diamondback Energy from a “strong-buy” rating to a “hold” rating in a research note on Thursday, May 28th. Finally, Seaport Research Partners initiated coverage on Diamondback Energy in a report on Thursday, September 3rd. They set a “neutral” rating on the stock. Four equities research analysts have rated the stock with a Strong Buy rating, sixteen have issued a Buy rating and five have given a Hold rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $224.05.

Insider Activity

In other news, Director Charles Meloy sold 83,334 shares of the business’s stock in a transaction that occurred on Tuesday, June 16th. The stock was sold at an average price of $187.12, for a total value of $15,593,458.08. Following the transaction, the director directly owned 851,530 shares of the company’s stock, valued at $159,338,293.60. The trade was a 8.91% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Company insiders own 0.64% of the company’s stock.

About Diamondback Energy

Diamondback Energy, Inc is an independent oil and natural gas company focused on the acquisition, development, exploration and exploitation of unconventional, onshore oil and natural gas reserves in the Permian Basin of West Texas and southeastern New Mexico. The company’s operations are concentrated primarily in the Midland and Delaware sub-basins.

Diamondback produces crude oil, natural gas and natural gas liquids. Its activities include drilling and completing horizontal wells, operating gathering and infrastructure assets, and managing mineral and royalty interests through its Viper Energy platform.