6,329 Shares in Diamondback Energy, Inc. $FANG Bought by Provenance Wealth Advisors LLC

Provenance Wealth Advisors LLC purchased a new position in shares of Diamondback Energy, Inc. (NASDAQ:FANG) in the third quarter, HoldingsChannel.com reports. The fund purchased 6,329 shares of the oil and natural gas company’s stock, valued at approximately $1,163,000.

Several other large investors have also bought and sold shares of FANG. Cedar Mountain Advisors LLC bought a new position in Diamondback Energy in the first quarter valued at approximately $26,000. Meeder Asset Management Inc. acquired a new stake in Diamondback Energy during the 2nd quarter worth $28,000. Burkett Financial Services LLC bought a new stake in shares of Diamondback Energy during the 3rd quarter valued at $32,000. Laurel Wealth Advisors LLC bought a new stake in shares of Diamondback Energy during the 3rd quarter valued at $32,000. Finally, Global Assets Advisory LLC bought a new stake in shares of Diamondback Energy during the 1st quarter valued at $40,000. 90.01% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Diamondback Energy

In related news, Director Travis Stice sold 75,000 shares of the company’s stock in a transaction on Friday, September 11th. The shares were sold at an average price of $204.31, for a total value of $15,323,250.00. Following the completion of the sale, the director owned 49,727 shares in the company, valued at $10,159,723.37. This represents a 60.13% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Charles Meloy sold 33,333 shares of the firm’s stock in a transaction on Monday, October 5th. The stock was sold at an average price of $183.74, for a total value of $6,124,605.42. Following the sale, the director directly owned 759,864 shares in the company, valued at $139,617,411.36. The trade was a 4.20% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 0.64% of the stock is owned by insiders.

Diamondback Energy Stock Down 4.9%

Shares of NASDAQ FANG opened at $182.88 on Thursday. The stock has a market cap of $51.21 billion, a P/E ratio of 10.51 and a beta of 0.49. The firm has a 50 day moving average price of $196.55 and a 200 day moving average price of $189.66. The company has a debt-to-equity ratio of 0.26, a quick ratio of 0.45 and a current ratio of 0.55. Diamondback Energy, Inc. has a 52-week low of $137.03 and a 52-week high of $216.90.

Diamondback Energy (NASDAQ:FANG) last issued its earnings results on Monday, November 2nd. The oil and natural gas company reported $5.86 EPS for the quarter, beating the consensus estimate of $5.72 by $0.14. The firm had revenue of $5.43 billion during the quarter, compared to the consensus estimate of $4.60 billion. Diamondback Energy had a net margin of 11.03% and a return on equity of 11.86%. The business’s quarterly revenue was up 38.4% on a year-over-year basis. During the same quarter in the prior year, the firm earned $3.08 earnings per share. Analysts expect that Diamondback Energy, Inc. will post 21.51 EPS for the current year.

Diamondback Energy Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, November 19th. Stockholders of record on Thursday, November 12th will be issued a $1.18 dividend. This is a positive change from Diamondback Energy’s previous quarterly dividend of $1.10. The ex-dividend date of this dividend is Thursday, November 12th. This represents a $4.72 annualized dividend and a dividend yield of 2.6%. Diamondback Energy’s dividend payout ratio (DPR) is presently 85.77%.

Wall Street Analysts Forecast Growth

A number of research analysts have recently weighed in on FANG shares. UBS Group increased their price target on Diamondback Energy from $256.00 to $260.00 and gave the company a “buy” rating in a research note on Wednesday. Susquehanna lifted their price objective on Diamondback Energy from $255.00 to $265.00 in a research note on Wednesday, August 5th. Wall Street Zen upgraded Diamondback Energy from a “hold” rating to a “buy” rating in a report on Sunday, September 13th. The Goldman Sachs Group dropped their price objective on Diamondback Energy from $220.00 to $215.00 and set a “buy” rating for the company in a report on Thursday, October 1st. Finally, Citigroup cut their target price on Diamondback Energy from $221.00 to $220.00 and set a “buy” rating on the stock in a research note on Monday, August 10th. Two equities research analysts have rated the stock with a Strong Buy rating, twenty-four have given a Buy rating and five have given a Hold rating to the stock. According to MarketBeat, Diamondback Energy currently has an average rating of “Moderate Buy” and an average target price of $228.29.

Key Stories Impacting Diamondback Energy

Here are the key news stories impacting Diamondback Energy this week:

• Positive Sentiment: Q3 results beat expectations. Diamondback reported earnings of $5.86 per share versus the $5.72 consensus and revenue of $5.43 billion versus $4.60 billion expected. Higher production and realized oil prices supported results and cash generation. Article: Diamondback Q3 Earnings Beat on Higher Oil Prices and Production
• Positive Sentiment: Raised outlook and disciplined growth plans. Management lifted its 2026 production outlook while emphasizing spending discipline, Barnett development and improved well economics. These plans could support future output and returns without a major increase in reinvestment. Article: FANG Q3 Earnings Call Highlights Capital Discipline and Permian Growth
• Positive Sentiment: Dividend increased 7.3%. The quarterly dividend rose from $1.10 to $1.18 per share, signaling confidence in cash generation and adding to shareholder returns. Article: Diamondback Energy Raises Dividend and 2026 Oil Production Outlook
• Positive Sentiment: Some analysts raised price targets. UBS lifted its target to $260 and Truist raised its target to $232; both maintained Buy ratings.
• Negative Sentiment: Wells Fargo lowered its target from $263 to $244, though it kept an Overweight rating. This more cautious valuation view may have weighed against the otherwise upbeat updates.

Diamondback Energy Company Profile

Diamondback Energy, Inc is an independent oil and natural gas company engaged in the acquisition, development, exploration and exploitation of unconventional, onshore oil and natural gas reserves. The company’s operations are concentrated in the Permian Basin of West Texas and southeastern New Mexico, particularly the Midland and Delaware Basins.

Diamondback produces crude oil, natural gas and natural gas liquids from horizontal wells and related infrastructure. Its activities include drilling and completing wells, operating gathering and processing assets, and managing midstream services that support production.