Wealthfront Advisers LLC Decreases Holdings in Diamondback Energy, Inc. $FANG

Wealthfront Advisers LLC decreased its position in shares of Diamondback Energy, Inc. (NASDAQ:FANG) by 4.7% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 76,455 shares of the oil and natural gas company’s stock after selling 3,766 shares during the period. Wealthfront Advisers LLC’s holdings in Diamondback Energy were worth $10,505,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. BankPlus Trust Department purchased a new stake in Diamondback Energy during the first quarter valued at approximately $27,000. SouthState Corp lifted its position in Diamondback Energy by 596.4% during the first quarter. SouthState Corp now owns 195 shares of the oil and natural gas company’s stock valued at $31,000 after acquiring an additional 167 shares during the last quarter. WASHINGTON TRUST Co lifted its position in Diamondback Energy by 119.8% during the first quarter. WASHINGTON TRUST Co now owns 200 shares of the oil and natural gas company’s stock valued at $32,000 after acquiring an additional 109 shares during the last quarter. Financial Gravity Asset Management Inc. purchased a new stake in Diamondback Energy during the first quarter valued at approximately $33,000. Finally, Catalyst Capital Advisors LLC lifted its position in Diamondback Energy by 60.9% during the first quarter. Catalyst Capital Advisors LLC now owns 222 shares of the oil and natural gas company’s stock valued at $35,000 after acquiring an additional 84 shares during the last quarter. Hedge funds and other institutional investors own 90.01% of the company’s stock.

Insider Activity at Diamondback Energy

In related news, Chairman Travis D. Stice sold 20,400 shares of the firm’s stock in a transaction dated 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 completion of the sale, the chairman directly owned 102,145 shares in the company, valued at approximately $14,586,306. This trade represents a 16.65% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 0.70% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on FANG. Barclays cut their price target on shares of Diamondback Energy from $185.00 to $178.00 and set an “overweight” rating on the stock in a research note on Tuesday, October 7th. Melius Research began coverage on shares of Diamondback Energy in a research note on Wednesday, August 20th. They set a “buy” rating and a $213.00 price target on the stock. Royal Bank Of Canada restated an “outperform” rating and set a $173.00 price target on shares of Diamondback Energy in a research note on Friday, October 10th. Morgan Stanley cut their price target on shares of Diamondback Energy from $186.00 to $184.00 and set an “overweight” rating on the stock in a research note on Tuesday, October 14th. Finally, Wells Fargo & Company cut their price target on shares of Diamondback Energy from $211.00 to $160.00 and set an “overweight” rating on the stock in a research note on Friday, October 17th. Two investment analysts have rated the stock with a Strong Buy rating, twenty have assigned a Buy rating and one has assigned a Hold rating to the stock. According to MarketBeat.com, the company has an average rating of “Buy” and an average target price of $189.91.

Diamondback Energy Stock Down 0.9%

FANG stock opened at $145.86 on Monday. The firm’s fifty day simple moving average is $142.61 and its 200-day simple moving average is $141.03. The company has a market capitalization of $42.22 billion, a P/E ratio of 10.37 and a beta of 1.04. 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 12 month low of $114.00 and a 12 month high of $186.07.

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

Diamondback Energy Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, August 21st. Stockholders of record on Thursday, August 14th were issued a $1.00 dividend. This represents a $4.00 annualized dividend and a dividend yield of 2.7%. The ex-dividend date of this dividend was Thursday, August 14th. Diamondback Energy’s dividend payout ratio is 28.43%.

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.