Kestra Private Wealth Services LLC Boosts Holdings in Diamondback Energy, Inc. (NASDAQ:FANG)

Kestra Private Wealth Services LLC grew its position in Diamondback Energy, Inc. (NASDAQ:FANG) by 6.4% during the 4th quarter, Holdings Channel.com reports. The firm owned 8,708 shares of the oil and natural gas company’s stock after purchasing an additional 522 shares during the period. Kestra Private Wealth Services LLC’s holdings in Diamondback Energy were worth $1,350,000 as of its most recent SEC filing.

A number of other large investors have also made changes to their positions in the business. BKM Wealth Management LLC acquired a new stake in shares of Diamondback Energy in the 4th quarter worth $27,000. BluePath Capital Management LLC acquired a new stake in Diamondback Energy in the third quarter worth about $28,000. Turtle Creek Wealth Advisors LLC purchased a new stake in shares of Diamondback Energy during the fourth quarter worth about $34,000. CVA Family Office LLC purchased a new stake in shares of Diamondback Energy during the fourth quarter worth about $35,000. Finally, Cary Street Partners Investment Advisory LLC increased its holdings in shares of Diamondback Energy by 559.0% during the third quarter. Cary Street Partners Investment Advisory LLC now owns 257 shares of the oil and natural gas company’s stock valued at $40,000 after acquiring an additional 218 shares in the last quarter. 90.01% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Diamondback Energy

In other Diamondback Energy news, CAO Teresa L. Dick sold 2,000 shares of the firm’s stock in a transaction that occurred on Wednesday, March 20th. The shares were sold at an average price of $192.00, for a total value of $384,000.00. Following the transaction, the chief accounting officer now directly owns 96,523 shares of the company’s stock, valued at approximately $18,532,416. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, VP Jere W. Thompson III sold 2,675 shares of the business’s stock in a transaction dated Tuesday, March 19th. The shares were sold at an average price of $192.35, for a total transaction of $514,536.25. Following the transaction, the vice president now owns 8,485 shares of the company’s stock, valued at approximately $1,632,089.75. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CAO Teresa L. Dick sold 2,000 shares of the firm’s stock in a transaction dated Wednesday, March 20th. The stock was sold at an average price of $192.00, for a total transaction of $384,000.00. Following the sale, the chief accounting officer now owns 96,523 shares of the company’s stock, valued at $18,532,416. The disclosure for this sale can be found here. In the last quarter, insiders sold 57,675 shares of company stock valued at $11,311,096. Corporate insiders own 0.43% of the company’s stock.

Diamondback Energy Stock Up 2.0 %

Shares of FANG opened at $201.50 on Friday. The stock’s 50 day moving average is $194.99 and its two-hundred day moving average is $170.58. Diamondback Energy, Inc. has a 12 month low of $123.41 and a 12 month high of $211.96. The firm has a market cap of $35.94 billion, a P/E ratio of 11.36 and a beta of 1.91. The company has a current ratio of 0.92, a quick ratio of 0.74 and a debt-to-equity ratio of 0.37.

Diamondback Energy (NASDAQ:FANG) last issued its quarterly earnings results on Tuesday, April 30th. The oil and natural gas company reported $4.50 earnings per share for the quarter, beating analysts’ consensus estimates of $4.29 by $0.21. The firm had revenue of $2.23 billion for the quarter, compared to analyst estimates of $2.10 billion. Diamondback Energy had a net margin of 36.71% and a return on equity of 19.36%. Diamondback Energy’s quarterly revenue was up 15.7% compared to the same quarter last year. During the same period last year, the company posted $4.10 EPS. Analysts predict that Diamondback Energy, Inc. will post 18.96 earnings per share for the current fiscal year.

Diamondback Energy Cuts Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, May 22nd. Investors of record on Wednesday, May 15th will be given a dividend of $0.90 per share. The ex-dividend date is Tuesday, May 14th. This represents a $3.60 dividend on an annualized basis and a yield of 1.79%. Diamondback Energy’s payout ratio is presently 20.29%.

Wall Street Analyst Weigh In

A number of analysts recently commented on FANG shares. StockNews.com upgraded shares of Diamondback Energy from a “hold” rating to a “buy” rating in a research note on Thursday. Truist Financial lifted their price objective on shares of Diamondback Energy from $248.00 to $250.00 and gave the stock a “buy” rating in a research note on Monday, April 22nd. Barclays started coverage on Diamondback Energy in a research report on Wednesday, April 10th. They issued an “equal weight” rating and a $214.00 target price on the stock. Royal Bank of Canada reaffirmed an “outperform” rating and set a $195.00 price target on shares of Diamondback Energy in a research report on Monday, March 4th. Finally, Susquehanna increased their price objective on Diamondback Energy from $212.00 to $245.00 and gave the company a “positive” rating in a report on Monday, April 22nd. One research analyst has rated the stock with a sell rating, four have assigned a hold rating, fourteen have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, Diamondback Energy has a consensus rating of “Moderate Buy” and an average price target of $204.37.

About Diamondback Energy

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.