Diamondback Energy, Inc. $FANG Shares Sold by First Dallas Securities Inc.

First Dallas Securities Inc. trimmed its holdings in shares of Diamondback Energy, Inc. (NASDAQ:FANG) by 39.0% during the second quarter, Holdings Channel reports. The fund owned 1,550 shares of the oil and natural gas company’s stock after selling 990 shares during the quarter. First Dallas Securities Inc.’s holdings in Diamondback Energy were worth $213,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Allworth Financial LP increased its holdings in Diamondback Energy by 236.3% during the 1st quarter. Allworth Financial LP now owns 3,874 shares of the oil and natural gas company’s stock worth $619,000 after purchasing an additional 2,722 shares during the last quarter. Alps Advisors Inc. boosted its stake in shares of Diamondback Energy by 14.6% during the 1st quarter. Alps Advisors Inc. now owns 2,353 shares of the oil and natural gas company’s stock valued at $376,000 after buying an additional 300 shares during the last quarter. Xponance Inc. grew its position in shares of Diamondback Energy by 1.5% during the first quarter. Xponance Inc. now owns 25,008 shares of the oil and natural gas company’s stock worth $3,998,000 after buying an additional 369 shares in the last quarter. Arizona State Retirement System increased its stake in shares of Diamondback Energy by 3.2% in the first quarter. Arizona State Retirement System now owns 55,673 shares of the oil and natural gas company’s stock worth $8,901,000 after buying an additional 1,748 shares during the last quarter. Finally, BankPlus Trust Department bought a new stake in shares of Diamondback Energy in the first quarter worth $27,000. Hedge funds and other institutional investors own 90.01% of the company’s stock.

Diamondback Energy Stock Performance

Shares of NASDAQ FANG opened at $143.65 on Monday. The company has a quick ratio of 0.60, a current ratio of 0.62 and a debt-to-equity ratio of 0.35. The firm’s 50-day moving average price is $142.31 and its two-hundred day moving average price is $141.78. Diamondback Energy, Inc. has a 52-week low of $114.00 and a 52-week high of $186.07. 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 issued its quarterly earnings data on Monday, November 3rd. The oil and natural gas company reported $3.08 EPS for the quarter, topping analysts’ consensus estimates of $2.94 by $0.14. The firm had revenue of $3.92 billion during the quarter, compared to the consensus estimate of $3.48 billion. Diamondback Energy had a return on equity of 9.57% and a net margin of 27.32%.The firm’s revenue was up 48.4% on a year-over-year basis. During the same period in the prior year, the business earned $3.19 EPS. As a group, sell-side analysts forecast that Diamondback Energy, Inc. will post 15.49 earnings per share for the current year.

Diamondback Energy Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, November 20th. Investors of record on Thursday, November 13th will be given a $1.00 dividend. The ex-dividend date is Thursday, November 13th. This represents a $4.00 annualized dividend and a yield of 2.8%. Diamondback Energy’s dividend payout ratio (DPR) is currently 27.80%.

Wall Street Analyst Weigh In

FANG has been the topic of a number of research analyst reports. William Blair began coverage on shares of Diamondback Energy in a research note on Monday, August 25th. They set an “outperform” rating on the stock. Royal Bank Of Canada restated an “outperform” rating and issued a $173.00 target price on shares of Diamondback Energy in a research note on Friday, October 10th. Melius Research assumed coverage on Diamondback Energy in a research note on Wednesday, August 20th. They issued a “buy” rating and a $213.00 price target for the company. Piper Sandler lowered their price objective on Diamondback Energy from $228.00 to $222.00 and set an “overweight” rating for the company in a report on Thursday, August 14th. Finally, Wells Fargo & Company reduced their target price on Diamondback Energy from $211.00 to $160.00 and set an “overweight” rating on the stock in a report on Friday, October 17th. Two analysts have rated the stock with a Strong Buy rating, twenty have issued a Buy rating and one has issued a Hold rating to the company. Based on data from MarketBeat, Diamondback Energy presently has an average rating of “Buy” and an average target price of $188.41.

About Diamondback Energy

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.