WealthShield Partners LLC Purchases Shares of 17,637 Diamondback Energy, Inc. $FANG

WealthShield Partners LLC purchased a new position in shares of Diamondback Energy, Inc. (NASDAQ:FANG) during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 17,637 shares of the oil and natural gas company’s stock, valued at approximately $3,100,000.

A number of other large investors also recently made changes to their positions in the business. Laurel Wealth Advisors LLC purchased a new stake in shares of Diamondback Energy in the fourth quarter valued at $26,000. Cedar Mountain Advisors LLC acquired a new position in Diamondback Energy in the first quarter valued at $26,000. JPL Wealth Management LLC purchased a new position in Diamondback Energy during the third quarter worth about $26,000. Wellington Shields & Co. LLC lifted its position in Diamondback Energy by 264.7% during the fourth quarter. Wellington Shields & Co. LLC now owns 186 shares of the oil and natural gas company’s stock worth $28,000 after buying an additional 135 shares during the period. Finally, Meeder Asset Management Inc. acquired a new stake in Diamondback Energy in the 2nd quarter worth about $28,000. Hedge funds and other institutional investors own 90.01% of the company’s stock.

Insider Buying and Selling at Diamondback Energy

In related news, CAO Teresa L. Dick sold 7,000 shares of Diamondback Energy stock in a transaction on Tuesday, June 2nd. The shares were sold at an average price of $200.90, for a total transaction of $1,406,300.00. Following the transaction, the chief accounting officer owned 85,755 shares in the company, valued at approximately $17,228,179.50. The trade was a 7.55% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Charles Alvin Meloy sold 33,333 shares of the company’s stock in a transaction on Monday, August 3rd. The stock was sold at an average price of $198.41, for a total transaction of $6,613,600.53. Following the sale, the director directly owned 818,197 shares of the company’s stock, valued at approximately $162,338,466.77. This trade represents a 3.91% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 129,167 shares of company stock worth $24,714,309 over the last three months. 0.64% of the stock is currently owned by insiders.

Diamondback Energy Stock Down 0.1%

Shares of NASDAQ:FANG opened at $210.72 on Friday. The company has a debt-to-equity ratio of 0.25, a quick ratio of 0.45 and a current ratio of 0.47. Diamondback Energy, Inc. has a 1 year low of $134.30 and a 1 year high of $216.90. The stock has a market capitalization of $59.01 billion, a P/E ratio of 41.08 and a beta of 0.43. The stock has a 50-day simple moving average of $191.79 and a 200-day simple moving average of $189.22.

Diamondback Energy (NASDAQ:FANG) last posted its earnings results on Monday, August 3rd. The oil and natural gas company reported $6.48 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $6.08 by $0.40. Diamondback Energy had a net margin of 8.58% and a return on equity of 10.10%. The firm had revenue of $5.56 billion during the quarter, compared to the consensus estimate of $4.89 billion. During the same quarter in the prior year, the company earned $2.38 EPS. The company’s revenue was up 51.2% on a year-over-year basis. Equities analysts forecast that Diamondback Energy, Inc. will post 20.13 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 20th. Shareholders of record on Thursday, August 13th were paid a dividend of $1.10 per share. This represents a $4.40 annualized dividend and a yield of 2.1%. The ex-dividend date was Thursday, August 13th. Diamondback Energy’s payout ratio is currently 85.77%.

Analysts Set New Price Targets

Several analysts have commented on the company. Wolfe Research restated an “outperform” rating and issued a $206.00 price target on shares of Diamondback Energy in a report on Tuesday, August 4th. Barclays cut their price objective on shares of Diamondback Energy from $232.00 to $221.00 and set an “overweight” rating on the stock in a report on Monday, August 17th. Weiss Ratings raised shares of Diamondback Energy from a “hold (c-)” rating to a “hold (c)” rating in a research report on Friday, July 31st. Wall Street Zen upgraded shares of Diamondback Energy from a “hold” rating to a “buy” rating in a report on Saturday, August 8th. Finally, Susquehanna boosted their target price on shares of Diamondback Energy from $245.00 to $255.00 and gave the company a “positive” rating in a report on Tuesday, July 21st. Four investment analysts have rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating and five have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $222.21.

Diamondback Energy Profile

Diamondback Energy, Inc (NASDAQ: FANG) is an independent oil and natural gas company focused on the development, exploration and production of unconventional resources in the Permian Basin. Headquartered in Midland, Texas, the company concentrates its operations in the core Midland and Delaware sub?basins of West Texas and southeastern New Mexico, where it pursues contiguous acreage positions to support repeatable drilling programs.

Diamondback’s activities span the upstream value chain, including leasehold acquisition, well planning, drilling, completion and production optimization.