Diamondback Energy, Inc. (NASDAQ:FANG) Shares Sold by Atlas Private Wealth Advisors

Atlas Private Wealth Advisors lowered its position in shares of Diamondback Energy, Inc. (NASDAQ:FANG) by 86.0% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 3,000 shares of the oil and natural gas company’s stock after selling 18,504 shares during the quarter. Atlas Private Wealth Advisors’ holdings in Diamondback Energy were worth $465,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. BKM Wealth Management LLC purchased a new stake in shares of Diamondback Energy during the fourth quarter worth $27,000. BluePath Capital Management LLC acquired a new stake in shares of Diamondback Energy in the third quarter valued at approximately $28,000. FinTrust Capital Advisors LLC increased its holdings in shares of Diamondback Energy by 232.8% in the fourth quarter. FinTrust Capital Advisors LLC now owns 213 shares of the oil and natural gas company’s stock valued at $29,000 after purchasing an additional 149 shares during the last quarter. Carolinas Wealth Consulting LLC raised its stake in Diamondback Energy by 366.7% during the first quarter. Carolinas Wealth Consulting LLC now owns 224 shares of the oil and natural gas company’s stock worth $31,000 after purchasing an additional 176 shares during the period. Finally, Householder Group Estate & Retirement Specialist LLC purchased a new position in Diamondback Energy during the third quarter worth about $32,000. 87.84% of the stock is owned by institutional investors and hedge funds.

Diamondback Energy Stock Up 0.1 %

Shares of Diamondback Energy stock traded up $0.12 during trading hours on Monday, hitting $190.06. The company had a trading volume of 1,170,288 shares, compared to its average volume of 1,924,860. The company’s 50-day moving average is $166.91 and its two-hundred day moving average is $159.99. Diamondback Energy, Inc. has a twelve month low of $121.84 and a twelve month high of $191.38. The company has a debt-to-equity ratio of 0.38, a current ratio of 0.77 and a quick ratio of 0.74. The company has a market cap of $33.92 billion, a P/E ratio of 10.96, a price-to-earnings-growth ratio of 0.49 and a beta of 1.92.

Diamondback Energy (NASDAQ:FANG) last issued its earnings results on Tuesday, February 20th. The oil and natural gas company reported $4.74 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.61 by $0.13. Diamondback Energy had a net margin of 37.36% and a return on equity of 19.56%. The business had revenue of $2.23 billion during the quarter, compared to analysts’ expectations of $2.16 billion. During the same quarter in the prior year, the business posted $5.29 EPS. The company’s revenue for the quarter was up 9.8% on a year-over-year basis. Analysts anticipate that Diamondback Energy, Inc. will post 17.74 earnings per share for the current fiscal year.

Diamondback Energy Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, March 12th. Stockholders of record on Tuesday, March 5th were issued a $3.08 dividend. This represents a $12.32 dividend on an annualized basis and a dividend yield of 6.48%. This is a boost from Diamondback Energy’s previous quarterly dividend of $0.84. The ex-dividend date was Monday, March 4th. Diamondback Energy’s payout ratio is presently 20.76%.

Analyst Ratings Changes

A number of research firms recently weighed in on FANG. Susquehanna increased their price objective on shares of Diamondback Energy from $190.00 to $195.00 and gave the stock a “positive” rating in a research report on Tuesday, February 13th. Piper Sandler lifted their target price on Diamondback Energy from $222.00 to $227.00 and gave the company an “overweight” rating in a research report on Thursday, March 7th. Wells Fargo & Company dropped their target price on Diamondback Energy from $190.00 to $189.00 and set an “overweight” rating for the company in a research report on Wednesday, November 22nd. Scotiabank lifted their target price on Diamondback Energy from $180.00 to $200.00 and gave the company a “sector outperform” rating in a research report on Tuesday, February 13th. Finally, KeyCorp upped their price objective on Diamondback Energy from $170.00 to $186.00 and gave the stock an “overweight” rating in a research report on Tuesday, February 13th. One investment analyst has rated the stock with a sell rating, four have given a hold rating, thirteen have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $184.67.

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.