Private Advisor Group LLC Sells 3,980 Shares of Diamondback Energy, Inc. $FANG

Private Advisor Group LLC reduced its holdings in shares of Diamondback Energy, Inc. (NASDAQ:FANG) by 10.8% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 32,749 shares of the oil and natural gas company’s stock after selling 3,980 shares during the quarter. Private Advisor Group LLC’s holdings in Diamondback Energy were worth $6,477,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Flagship Harbor Advisors LLC purchased a new position in shares of Diamondback Energy in the 4th quarter worth about $25,000. Laurel Wealth Advisors LLC purchased a new stake in shares of Diamondback Energy during the 4th quarter worth approximately $26,000. Richardson Financial Services Inc. grew its holdings in Diamondback Energy by 245.1% during the fourth quarter. Richardson Financial Services Inc. now owns 176 shares of the oil and natural gas company’s stock valued at $26,000 after purchasing an additional 125 shares during the period. JPL Wealth Management LLC purchased a new stake in Diamondback Energy in the third quarter worth $26,000. Finally, 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 buying an additional 135 shares during the period. Hedge funds and other institutional investors own 90.01% of the company’s stock.

Insider Buying and Selling

In other news, EVP Matt Zmigrosky sold 5,000 shares of the stock in a transaction dated 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 sale, the executive vice president directly owned 46,392 shares of the company’s stock, valued at approximately $9,303,451.68. This represents a 9.73% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CAO Teresa L. Dick sold 7,000 shares of the stock in a transaction dated 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 directly owned 85,755 shares in the company, valued at approximately $17,228,179.50. The trade was a 7.55% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last ninety days, insiders have sold 113,691 shares of company stock valued at $21,622,752. Corporate insiders own 0.64% of the company’s stock.

Diamondback Energy Stock Performance

Shares of NASDAQ FANG traded up $3.80 during mid-day trading on Tuesday, hitting $177.53. The company had a trading volume of 197,012 shares, compared to its average volume of 2,788,735. The company has a market capitalization of $49.94 billion, a price-to-earnings ratio of 206.18 and a beta of 0.42. Diamondback Energy, Inc. has a 1 year low of $134.30 and a 1 year high of $214.51. The company has a current ratio of 0.56, a quick ratio of 0.55 and a debt-to-equity ratio of 0.31. The stock’s 50-day moving average price is $193.52 and its 200-day moving average price is $178.33.

Diamondback Energy (NASDAQ:FANG) last released its quarterly earnings data on Monday, May 4th. The oil and natural gas company reported $4.23 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.74 by $0.49. The company had revenue of $4.24 billion for the quarter, compared to analyst estimates of $3.83 billion. Diamondback Energy had a return on equity of 7.76% and a net margin of 1.87%.The firm’s revenue for the quarter was up 4.7% compared to the same quarter last year. During the same period in the previous year, the company posted $4.54 EPS. On average, sell-side analysts forecast that Diamondback Energy, Inc. will post 19.47 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 given a dividend of $1.10 per share. This is a boost from Diamondback Energy’s previous quarterly dividend of $1.05. This represents a $4.40 annualized dividend and a dividend yield of 2.5%. The ex-dividend date was Thursday, May 14th. Diamondback Energy’s dividend payout ratio (DPR) is currently 511.63%.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on FANG shares. Sanford C. Bernstein upped their price target on Diamondback Energy from $237.00 to $241.00 and gave the company an “outperform” rating in a research report on Monday, May 11th. The Goldman Sachs Group boosted their price objective on Diamondback Energy from $187.00 to $212.00 and gave the company a “buy” rating in a research note on Wednesday, March 11th. Mizuho upped their price objective on shares of Diamondback Energy from $220.00 to $240.00 and gave the company an “outperform” rating in a report on Wednesday, May 27th. Morgan Stanley dropped their price objective on shares of Diamondback Energy from $229.00 to $216.00 and set an “overweight” rating on the stock in a report on Monday, June 29th. Finally, KeyCorp lifted their target price on shares of Diamondback Energy from $196.00 to $225.00 and gave the stock an “overweight” rating in a research note on Thursday, April 2nd. Five research analysts have rated the stock with a Strong Buy rating, sixteen have issued a Buy rating and four have given a Hold rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Buy” and an average target price of $220.68.

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.