Demars Financial Group LLC Has $340,000 Stock Position in Diamondback Energy, Inc. $FANG

Demars Financial Group LLC lowered its position in shares of Diamondback Energy, Inc. (NASDAQ:FANG) by 99.9% in the second quarter, HoldingsChannel reports. The firm owned 2,472 shares of the oil and natural gas company’s stock after selling 4,100,313 shares during the period. Demars Financial Group LLC’s holdings in Diamondback Energy were worth $340,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in FANG. Blue Trust Inc. grew its holdings in Diamondback Energy by 18.4% during the 1st quarter. Blue Trust Inc. now owns 2,453 shares of the oil and natural gas company’s stock worth $392,000 after acquiring an additional 381 shares during the last quarter. Avior Wealth Management LLC grew its holdings in Diamondback Energy by 85.7% during the 1st quarter. Avior Wealth Management LLC now owns 2,369 shares of the oil and natural gas company’s stock worth $379,000 after acquiring an additional 1,093 shares during the last quarter. PFG Investments LLC grew its holdings in Diamondback Energy by 15.0% during the 1st quarter. PFG Investments LLC now owns 2,328 shares of the oil and natural gas company’s stock worth $372,000 after acquiring an additional 303 shares during the last quarter. Woodmont Investment Counsel LLC grew its holdings in Diamondback Energy by 60.8% during the 1st quarter. Woodmont Investment Counsel LLC now owns 3,558 shares of the oil and natural gas company’s stock worth $569,000 after acquiring an additional 1,345 shares during the last quarter. Finally, Heartland Bank & Trust Co grew its holdings in Diamondback Energy by 19.5% during the 1st quarter. Heartland Bank & Trust Co now owns 1,762 shares of the oil and natural gas company’s stock worth $282,000 after acquiring an additional 287 shares during the last quarter. Institutional investors own 90.01% of the company’s stock.

Insiders Place Their Bets

In related news, Chairman Travis D. Stice sold 20,400 shares of Diamondback Energy stock in a transaction that occurred on Thursday, August 7th. The shares were sold at an average price of $142.80, for a total transaction of $2,913,120.00. Following the transaction, the chairman owned 102,145 shares of the company’s stock, valued at $14,586,306. This trade represents a 16.65% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 0.48% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on FANG shares. UBS Group increased their price objective on shares of Diamondback Energy from $163.00 to $171.00 and gave the stock a “buy” rating in a report on Wednesday, August 20th. Weiss Ratings reissued a “hold (c-)” rating on shares of Diamondback Energy in a report on Wednesday, October 8th. Wall Street Zen lowered shares of Diamondback Energy from a “hold” rating to a “sell” rating in a research note on Saturday, August 9th. Mizuho lowered their price target on shares of Diamondback Energy from $183.00 to $176.00 and set an “outperform” rating for the company in a research report on Monday, September 15th. Finally, Melius Research initiated coverage on shares of Diamondback Energy in a research report on Wednesday, August 20th. They set a “buy” rating and a $213.00 price target for the company. 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, Diamondback Energy has a consensus rating of “Buy” and a consensus target price of $189.91.

Diamondback Energy Stock Down 0.3%

Shares of NASDAQ:FANG opened at $139.09 on Monday. Diamondback Energy, Inc. has a one year low of $114.00 and a one year high of $186.74. The company has a 50 day moving average of $142.18 and a 200-day moving average of $140.36. The company has a debt-to-equity ratio of 0.35, a current ratio of 0.55 and a quick ratio of 0.52. The stock has a market cap of $40.27 billion, a price-to-earnings ratio of 9.89 and a beta of 1.04.

Diamondback Energy (NASDAQ:FANG) last released its quarterly earnings data on Monday, August 4th. The oil and natural gas company reported $2.67 earnings per share for the quarter, missing the consensus estimate of $2.72 by ($0.05). Diamondback Energy had a return on equity of 9.48% and a net margin of 27.25%.The firm had revenue of $3.68 billion for the quarter, compared to the consensus estimate of $3.35 billion. During the same period in the previous year, the business earned $4.52 EPS. The firm’s revenue was up 48.1% compared to the same quarter last year. On average, sell-side analysts forecast that Diamondback Energy, Inc. will post 15.49 earnings per share for the current year.

Diamondback Energy Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, August 21st. Investors of record on Thursday, August 14th were paid a dividend of $1.00 per share. The ex-dividend date of this dividend was Thursday, August 14th. This represents a $4.00 annualized dividend and a yield of 2.9%. Diamondback Energy’s dividend payout ratio (DPR) is presently 28.43%.

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.