RFG Advisory LLC Has $419,000 Holdings in Diamondback Energy, Inc. $FANG

RFG Advisory LLC lessened its position in shares of Diamondback Energy, Inc. (NASDAQ:FANG) by 43.3% during the 2nd quarter, Holdings Channel.com reports. The firm owned 3,053 shares of the oil and natural gas company’s stock after selling 2,330 shares during the quarter. RFG Advisory LLC’s holdings in Diamondback Energy were worth $419,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also bought and sold shares of FANG. BankPlus Trust Department acquired a new stake in Diamondback Energy in the 1st quarter valued at $27,000. Pinnacle Bancorp Inc. boosted its stake in Diamondback Energy by 95.7% in the 1st quarter. Pinnacle Bancorp Inc. now owns 180 shares of the oil and natural gas company’s stock valued at $29,000 after buying an additional 88 shares in the last quarter. SouthState Corp boosted its stake in Diamondback Energy by 596.4% in the 1st quarter. SouthState Corp now owns 195 shares of the oil and natural gas company’s stock valued at $31,000 after buying an additional 167 shares in the last quarter. WASHINGTON TRUST Co boosted its stake in Diamondback Energy by 119.8% in the 1st quarter. WASHINGTON TRUST Co now owns 200 shares of the oil and natural gas company’s stock valued at $32,000 after buying an additional 109 shares in the last quarter. Finally, Financial Gravity Asset Management Inc. acquired a new stake in Diamondback Energy in the 1st quarter valued at $33,000. Institutional investors and hedge funds own 90.01% of the company’s stock.

Diamondback Energy Trading Down 0.3%

Shares of FANG opened at $139.09 on Friday. The company has a market cap of $40.27 billion, a price-to-earnings ratio of 9.89 and a beta of 1.04. Diamondback Energy, Inc. has a 52-week low of $114.00 and a 52-week high of $186.74. The company has a debt-to-equity ratio of 0.35, a quick ratio of 0.52 and a current ratio of 0.55. The stock has a fifty day moving average price of $142.18 and a two-hundred day moving average price of $140.36.

Diamondback Energy (NASDAQ:FANG) last released 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). The firm had revenue of $3.68 billion for 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 company’s revenue was up 48.1% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $4.52 EPS. Analysts predict 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. Stockholders of record on Thursday, August 14th were given a dividend of $1.00 per share. The ex-dividend date was Thursday, August 14th. This represents a $4.00 dividend on an annualized basis and a dividend yield of 2.9%. Diamondback Energy’s payout ratio is presently 28.43%.

Insider Activity at Diamondback Energy

In related news, Chairman Travis D. Stice sold 20,400 shares of Diamondback Energy stock in a transaction 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 sale, the chairman directly owned 102,145 shares of the company’s stock, 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 Securities & Exchange Commission, which is available at this link. 0.70% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on FANG. Scotiabank reaffirmed an “outperform” rating on shares of Diamondback Energy in a research note on Thursday, October 9th. William Blair began coverage on Diamondback Energy in a research note on Monday, August 25th. They issued an “outperform” rating on the stock. Wells Fargo & Company cut their price objective on Diamondback Energy from $211.00 to $160.00 and set an “overweight” rating for the company in a research report on Friday. Raymond James Financial cut their price objective on 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. Finally, Evercore ISI lifted their price objective on Diamondback Energy from $165.00 to $175.00 and gave the company an “outperform” rating in a research report on Monday, October 6th. 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 data from MarketBeat, the stock currently has a consensus rating of “Buy” and a consensus price target of $189.91.

Diamondback Energy 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.