Avior Wealth Management LLC Acquires 864 Shares of Diamondback Energy, Inc. $FANG

Avior Wealth Management LLC lifted its holdings in shares of Diamondback Energy, Inc. (NASDAQ:FANG) by 36.5% in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 3,233 shares of the oil and natural gas company’s stock after acquiring an additional 864 shares during the quarter. Avior Wealth Management LLC’s holdings in Diamondback Energy were worth $444,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. BankPlus Trust Department bought a new position in Diamondback Energy in the first quarter worth $27,000. Pinnacle Bancorp Inc. raised its holdings in Diamondback Energy by 95.7% in the first quarter. Pinnacle Bancorp Inc. now owns 180 shares of the oil and natural gas company’s stock worth $29,000 after purchasing an additional 88 shares in the last quarter. SouthState Corp raised its holdings in Diamondback Energy by 596.4% in the first quarter. SouthState Corp now owns 195 shares of the oil and natural gas company’s stock worth $31,000 after purchasing an additional 167 shares in the last quarter. Grove Bank & Trust raised its holdings in Diamondback Energy by 65.0% in the first quarter. Grove Bank & Trust now owns 203 shares of the oil and natural gas company’s stock worth $32,000 after purchasing an additional 80 shares in the last quarter. Finally, WASHINGTON TRUST Co raised its holdings in Diamondback Energy by 119.8% in the first quarter. WASHINGTON TRUST Co now owns 200 shares of the oil and natural gas company’s stock worth $32,000 after purchasing an additional 109 shares in the last quarter. Institutional investors own 90.01% of the company’s stock.

Insiders Place Their Bets

In other Diamondback Energy news, Chairman Travis D. Stice sold 20,400 shares of the stock in a transaction dated Thursday, August 7th. The stock was sold at an average price of $142.80, for a total value of $2,913,120.00. Following the transaction, the chairman owned 102,145 shares of the company’s stock, valued at approximately $14,586,306. This represents a 16.65% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 0.48% of the company’s stock.

Diamondback Energy Trading Down 0.3%

Diamondback Energy stock opened at $143.10 on Wednesday. The company has a debt-to-equity ratio of 0.35, a current ratio of 0.55 and a quick ratio of 0.52. Diamondback Energy, Inc. has a one year low of $114.00 and a one year high of $200.47. The stock has a market capitalization of $41.43 billion, a PE ratio of 10.17 and a beta of 1.14. The business’s fifty day moving average is $142.85 and its 200 day moving average is $141.74.

Diamondback Energy (NASDAQ:FANG) last posted 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). Diamondback Energy had a net margin of 27.25% and a return on equity of 9.48%. The firm had revenue of $3.68 billion during the quarter, compared to the consensus estimate of $3.35 billion. During the same period in the prior year, the company posted $4.52 EPS. The firm’s revenue was up 48.1% compared to the same quarter last year. On average, sell-side analysts predict that Diamondback Energy, Inc. will post 15.49 EPS for the current year.

Diamondback Energy Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, August 21st. Shareholders of record on Thursday, August 14th were issued a $1.00 dividend. The ex-dividend date of this dividend was Thursday, August 14th. This represents a $4.00 dividend on an annualized basis and a yield of 2.8%. Diamondback Energy’s dividend payout ratio is currently 28.43%.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on FANG. William Blair began coverage on Diamondback Energy in a report on Monday, August 25th. They issued an “outperform” rating for the company. Scotiabank reiterated an “outperform” rating on shares of Diamondback Energy in a report on Friday, July 11th. Melius initiated coverage on Diamondback Energy in a research note on Wednesday, August 20th. They issued a “buy” rating and a $213.00 target price on the stock. Mizuho cut their target price on Diamondback Energy from $183.00 to $176.00 and set an “outperform” rating on the stock in a research note on Monday, September 15th. Finally, Wells Fargo & Company increased their target price on Diamondback Energy from $210.00 to $211.00 and gave the stock an “overweight” rating in a research note on Thursday, August 14th. Two analysts have rated the stock with a Strong Buy rating and twenty-one have issued a Buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Buy” and an average price target of $193.39.

Diamondback Energy Company 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.