Diamondback Energy, Inc. $FANG Stock Position Raised by Greenwood Capital Associates LLC

Greenwood Capital Associates LLC increased its holdings in shares of Diamondback Energy, Inc. (NASDAQ:FANG) by 15.3% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 29,128 shares of the oil and natural gas company’s stock after acquiring an additional 3,873 shares during the quarter. Greenwood Capital Associates LLC’s holdings in Diamondback Energy were worth $5,120,000 at the end of the most recent quarter.

A number of other large investors have also recently bought and sold shares of FANG. Laurel Wealth Advisors LLC bought a new position in shares of Diamondback Energy during the fourth quarter valued at approximately $26,000. 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 bought a new stake in shares of Diamondback Energy in the 3rd quarter worth approximately $26,000. Wellington Shields & Co. LLC boosted its position in Diamondback Energy by 264.7% during the 4th 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 during the period. Finally, Meeder Asset Management Inc. acquired a new position in Diamondback Energy during the 2nd quarter valued at approximately $28,000. Institutional investors own 90.01% of the company’s stock.

Insider Activity at Diamondback Energy

In related news, CAO Teresa L. Dick sold 7,000 shares of the company’s stock in a transaction dated Tuesday, June 2nd. The shares were sold at an average price of $200.90, for a total value of $1,406,300.00. Following the completion of the sale, the chief accounting officer owned 85,755 shares of the company’s stock, valued at $17,228,179.50. This represents a 7.55% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Charles Alvin Meloy sold 33,333 shares of the stock in a transaction dated Monday, August 3rd. The shares were sold at an average price of $198.41, for a total transaction of $6,613,600.53. Following the completion of the transaction, the director owned 818,197 shares of the company’s stock, valued at $162,338,466.77. This represents a 3.91% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last three months, insiders sold 129,167 shares of company stock worth $24,714,309. 0.64% of the stock is owned by company insiders.

Diamondback Energy Stock Down 1.4%

FANG opened at $197.67 on Friday. Diamondback Energy, Inc. has a 12 month low of $134.30 and a 12 month high of $216.90. The company has a debt-to-equity ratio of 0.25, a current ratio of 0.47 and a quick ratio of 0.45. The stock has a market cap of $55.35 billion, a P/E ratio of 38.53 and a beta of 0.43. The stock’s 50 day moving average price is $193.25 and its 200 day moving average price is $190.49.

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, topping analysts’ consensus estimates of $6.08 by $0.40. Diamondback Energy had a return on equity of 10.10% and a net margin of 8.58%.The company had revenue of $5.56 billion during the quarter, compared to analyst estimates of $4.89 billion. During the same quarter in the previous year, the firm posted $2.38 EPS. The firm’s quarterly revenue was up 51.2% on a year-over-year basis. As a group, research analysts predict that Diamondback Energy, Inc. will post 20.13 earnings per share for the current year.

Diamondback Energy Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, August 20th. Investors of record on Thursday, August 13th were paid a dividend of $1.10 per share. This represents a $4.40 dividend on an annualized basis and a dividend yield of 2.2%. The ex-dividend date was Thursday, August 13th. Diamondback Energy’s payout ratio is currently 85.77%.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on the company. Weiss Ratings raised Diamondback Energy from a “hold (c-)” rating to a “hold (c)” rating in a research report on Friday, July 31st. Citigroup reduced their price target on shares of Diamondback Energy from $221.00 to $220.00 and set a “buy” rating for the company in a report on Monday, August 10th. Roth Capital set a $212.00 price target on shares of Diamondback Energy and gave the stock a “buy” rating in a research report on Monday, June 22nd. Wall Street Zen raised shares of Diamondback Energy from a “hold” rating to a “buy” rating in a report on Saturday, August 8th. Finally, Jefferies Financial Group reaffirmed a “hold” rating and issued a $205.00 price objective on shares of Diamondback Energy in a report on Sunday, August 9th. Four analysts have rated the stock with a Strong Buy rating, fifteen have given a Buy rating and five have issued a Hold rating to the company’s stock. According to data from MarketBeat, Diamondback Energy presently has a consensus rating of “Moderate Buy” and an average price target of $222.21.

About Diamondback Energy

Diamondback Energy, Inc (NASDAQ: FANG) is an independent oil and natural gas company focused on the development, exploration and production of unconventional resources in the Permian Basin. Headquartered in Midland, Texas, the company concentrates its operations in the core Midland and Delaware sub‑basins of West Texas and southeastern New Mexico, where it pursues contiguous acreage positions to support repeatable drilling programs.

Diamondback’s activities span the upstream value chain, including leasehold acquisition, well planning, drilling, completion and production optimization.