Ashton Thomas Securities LLC Purchases New Holdings in Diamondback Energy, Inc. (NASDAQ:FANG)

Ashton Thomas Securities LLC acquired a new position in shares of Diamondback Energy, Inc. (NASDAQ:FANG) during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 303 shares of the oil and natural gas company’s stock, valued at approximately $52,000.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in FANG. First Community Trust NA bought a new position in shares of Diamondback Energy in the second quarter worth $26,000. Carolinas Wealth Consulting LLC raised its position in shares of Diamondback Energy by 67.1% in the 2nd quarter. Carolinas Wealth Consulting LLC now owns 137 shares of the oil and natural gas company’s stock valued at $27,000 after buying an additional 55 shares in the last quarter. HHM Wealth Advisors LLC acquired a new position in shares of Diamondback Energy in the 2nd quarter valued at approximately $40,000. Values First Advisors Inc. bought a new stake in shares of Diamondback Energy during the 3rd quarter worth approximately $42,000. Finally, Founders Capital Management boosted its position in shares of Diamondback Energy by 99.2% during the 2nd quarter. Founders Capital Management now owns 251 shares of the oil and natural gas company’s stock worth $50,000 after acquiring an additional 125 shares in the last quarter. 90.01% of the stock is owned by institutional investors and hedge funds.

Diamondback Energy Stock Performance

Shares of FANG stock opened at $182.24 on Thursday. The company has a debt-to-equity ratio of 0.31, a current ratio of 0.45 and a quick ratio of 0.42. Diamondback Energy, Inc. has a one year low of $145.70 and a one year high of $214.50. The business’s 50 day simple moving average is $181.30 and its 200 day simple moving average is $191.76. The stock has a market capitalization of $53.21 billion, a PE ratio of 10.40, a PEG ratio of 1.27 and a beta of 1.89.

Diamondback Energy (NASDAQ:FANG) last posted its quarterly earnings data on Monday, November 4th. The oil and natural gas company reported $3.38 earnings per share for the quarter, missing the consensus estimate of $4.62 by ($1.24). The firm had revenue of $2.65 billion for the quarter, compared to analyst estimates of $2.43 billion. Diamondback Energy had a return on equity of 13.68% and a net margin of 33.64%. The company’s quarterly revenue was up 13.0% compared to the same quarter last year. During the same quarter last year, the company earned $5.49 earnings per share. As a group, research analysts forecast that Diamondback Energy, Inc. will post 17 earnings per share for the current year.

Diamondback Energy Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, November 21st. Stockholders of record on Thursday, November 14th will be paid a $0.90 dividend. This represents a $3.60 dividend on an annualized basis and a dividend yield of 1.98%. The ex-dividend date is Thursday, November 14th. Diamondback Energy’s dividend payout ratio is 20.61%.

Insider Buying and Selling at Diamondback Energy

In other news, major shareholder Lyndal Greth sold 13,212,830 shares of the company’s stock in a transaction dated Monday, September 23rd. The shares were sold at an average price of $175.11, for a total transaction of $2,313,698,661.30. Following the transaction, the insider now owns 1,037,819 shares in the company, valued at approximately $181,732,485.09. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 0.48% of the company’s stock.

Wall Street Analysts Forecast Growth

FANG has been the subject of several recent analyst reports. Benchmark restated a “buy” rating and set a $195.00 target price on shares of Diamondback Energy in a research note on Tuesday, October 29th. KeyCorp dropped their price objective on Diamondback Energy from $225.00 to $216.00 and set an “overweight” rating for the company in a research report on Wednesday, October 16th. StockNews.com upgraded Diamondback Energy from a “sell” rating to a “hold” rating in a research report on Wednesday. Wolfe Research initiated coverage on shares of Diamondback Energy in a report on Thursday, July 18th. They issued a “peer perform” rating for the company. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and set a $210.00 price target on shares of Diamondback Energy in a report on Wednesday, November 6th. One analyst has rated the stock with a sell rating, five have assigned a hold rating, seventeen have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, Diamondback Energy has an average rating of “Moderate Buy” and a consensus target price of $209.64.

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.