Global Wealth Management Investment Advisory Inc. Has $3.30 Million Stock Holdings in Diamondback Energy, Inc. $FANG

Global Wealth Management Investment Advisory Inc. grew its position in shares of Diamondback Energy, Inc. (NASDAQ:FANG) by 6.9% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 24,027 shares of the oil and natural gas company’s stock after buying an additional 1,559 shares during the period. Global Wealth Management Investment Advisory Inc.’s holdings in Diamondback Energy were worth $3,301,000 at the end of the most recent quarter.

A number of other institutional investors also recently modified their holdings of FANG. BankPlus Trust Department bought a new position in Diamondback Energy during the first quarter worth about $27,000. Creekmur Asset Management LLC acquired a new position in shares of Diamondback Energy during the 2nd quarter worth approximately $28,000. SouthState Corp increased its holdings in shares of Diamondback Energy by 596.4% during 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 during the period. Financial Gravity Asset Management Inc. acquired a new stake in shares of Diamondback Energy in the first quarter valued at approximately $33,000. Finally, Eastern Bank raised its position in shares of Diamondback Energy by 119.8% in the first quarter. Eastern Bank now owns 233 shares of the oil and natural gas company’s stock valued at $37,000 after buying an additional 127 shares in the last quarter. Institutional investors own 90.01% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have commented on FANG. Melius Research started coverage on Diamondback Energy in a research note on Wednesday, August 20th. They set a “buy” rating and a $213.00 price objective on the stock. Barclays reduced their target price on Diamondback Energy from $185.00 to $178.00 and set an “overweight” rating on the stock in a report on Tuesday, October 7th. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Diamondback Energy in a research report on Wednesday, October 8th. Roth Capital set a $162.00 target price on shares of Diamondback Energy and gave the company a “buy” rating in a report on Tuesday. Finally, Susquehanna dropped their target price on shares of Diamondback Energy to $188.00 and set a “positive” rating for the company in a research report on Monday, October 20th. Two equities research analysts have rated the stock with a Strong Buy rating, twenty have assigned a Buy rating and one has issued a Hold rating to the company. According to data from MarketBeat.com, the company has an average rating of “Buy” and an average price target of $188.41.

Diamondback Energy Stock Up 2.0%

FANG stock opened at $143.65 on Friday. The firm has a 50-day moving average price of $142.31 and a 200-day moving average price of $141.74. Diamondback Energy, Inc. has a 12 month low of $114.00 and a 12 month high of $186.07. The company has a current ratio of 0.62, a quick ratio of 0.52 and a debt-to-equity ratio of 0.35. The stock has a market capitalization of $41.16 billion, a P/E ratio of 9.98 and a beta of 0.99.

Diamondback Energy (NASDAQ:FANG) last announced its quarterly earnings results on Monday, November 3rd. The oil and natural gas company reported $3.08 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.94 by $0.14. The company had revenue of $3.92 billion for the quarter, compared to analyst estimates of $3.48 billion. Diamondback Energy had a net margin of 27.32% and a return on equity of 9.57%. The firm’s revenue was up 48.4% on a year-over-year basis. During the same period in the previous year, the firm posted $3.19 EPS. As a group, equities research analysts anticipate that Diamondback Energy, Inc. will post 15.49 EPS for the current fiscal year.

Diamondback Energy Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, November 20th. Stockholders of record on Thursday, November 13th will be paid a $1.00 dividend. This represents a $4.00 dividend on an annualized basis and a dividend yield of 2.8%. The ex-dividend date is Thursday, November 13th. Diamondback Energy’s dividend payout ratio is presently 27.80%.

Diamondback Energy 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.