Signal Advisors Wealth LLC Sells 8,792 Shares of Diamondback Energy, Inc. $FANG

Signal Advisors Wealth LLC lowered its position in shares of Diamondback Energy, Inc. (NASDAQ:FANG) by 14.1% in the 1st quarter, HoldingsChannel.com reports. The institutional investor owned 53,579 shares of the oil and natural gas company’s stock after selling 8,792 shares during the period. Signal Advisors Wealth LLC’s holdings in Diamondback Energy were worth $10,597,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of FANG. Harbour Wealth Management Group Inc. boosted its stake in Diamondback Energy by 17.1% during the first quarter. Harbour Wealth Management Group Inc. now owns 2,867 shares of the oil and natural gas company’s stock worth $567,000 after acquiring an additional 419 shares in the last quarter. Brookstone Capital Management increased its stake in shares of Diamondback Energy by 382.8% during the first quarter. Brookstone Capital Management now owns 60,263 shares of the oil and natural gas company’s stock valued at $11,920,000 after purchasing an additional 47,780 shares in the last quarter. Evolve Private Wealth LLC increased its stake in shares of Diamondback Energy by 202.4% during the first quarter. Evolve Private Wealth LLC now owns 7,039 shares of the oil and natural gas company’s stock valued at $1,392,000 after purchasing an additional 4,711 shares in the last quarter. Breakthru Advisory Services LLC purchased a new position in shares of Diamondback Energy during the first quarter valued at approximately $227,000. Finally, Quotient Wealth Partners LLC purchased a new position in shares of Diamondback Energy during the first quarter valued at approximately $223,000. 90.01% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several analysts recently weighed in on the company. Zacks Research downgraded Diamondback Energy from a “strong-buy” rating to a “hold” rating in a research note on Thursday, May 28th. UBS Group lifted their price objective on Diamondback Energy from $240.00 to $245.00 and gave the company a “buy” rating in a research note on Friday, April 10th. Susquehanna boosted their target price on Diamondback Energy from $231.00 to $245.00 and gave the stock a “positive” rating in a report on Wednesday, May 6th. Barclays boosted their target price on Diamondback Energy from $225.00 to $232.00 and gave the stock an “overweight” rating in a report on Tuesday, May 26th. Finally, Truist Financial set a $242.00 target price on Diamondback Energy in a research note on Wednesday, May 6th. Four analysts have rated the stock with a Strong Buy rating, seventeen have given a Buy rating and four have assigned a Hold rating to the company. Based on data from MarketBeat.com, Diamondback Energy has a consensus rating of “Buy” and an average target price of $221.37.

Diamondback Energy Trading Up 2.3%

Shares of NASDAQ:FANG opened at $187.80 on Tuesday. The company has a market cap of $52.83 billion, a P/E ratio of 218.37 and a beta of 0.42. The company has a debt-to-equity ratio of 0.31, a current ratio of 0.56 and a quick ratio of 0.55. Diamondback Energy, Inc. has a 1 year low of $134.30 and a 1 year high of $214.51. The stock’s fifty day moving average price is $195.06 and its 200-day moving average price is $177.02.

Diamondback Energy (NASDAQ:FANG) last released its quarterly earnings data on Monday, May 4th. The oil and natural gas company reported $4.23 EPS for the quarter, beating the consensus estimate of $3.74 by $0.49. Diamondback Energy had a return on equity of 7.76% and a net margin of 1.87%.The company had revenue of $4.24 billion for the quarter, compared to analysts’ expectations of $3.83 billion. During the same period last year, the firm posted $4.54 earnings per share. Diamondback Energy’s revenue was up 4.7% compared to the same quarter last year. Sell-side analysts expect that Diamondback Energy, Inc. will post 19.92 earnings per share for the current year.

Diamondback Energy Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, May 21st. Stockholders of record on Thursday, May 14th were issued a dividend of $1.10 per share. This represents a $4.40 dividend on an annualized basis and a dividend yield of 2.3%. The ex-dividend date of this dividend was Thursday, May 14th. This is a boost from Diamondback Energy’s previous quarterly dividend of $1.05. Diamondback Energy’s payout ratio is 511.63%.

Insider Activity at Diamondback Energy

In other news, EVP Matt Zmigrosky sold 5,000 shares of Diamondback Energy stock in a transaction that occurred on Monday, June 1st. The shares were sold at an average price of $200.54, for a total value of $1,002,700.00. Following the completion of the sale, the executive vice president directly owned 46,392 shares in the company, valued at $9,303,451.68. The trade was a 9.73% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CAO Teresa L. Dick sold 7,000 shares of Diamondback Energy stock in a transaction that occurred on Tuesday, June 2nd. The stock was sold at an average price of $200.90, for a total transaction 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 SEC filing for this sale provides additional information. In the last 90 days, insiders sold 121,548 shares of company stock worth $23,146,460. 0.64% of the stock is owned by insiders.

Diamondback Energy Company Profile

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.