B. Riley Wealth Advisors Inc. Has $773,000 Stock Position in Diamondback Energy, Inc. (NASDAQ:FANG)

B. Riley Wealth Advisors Inc. lessened its stake in Diamondback Energy, Inc. (NASDAQ:FANG) by 23.1% in the 3rd quarter, Holdings Channel reports. The institutional investor owned 4,273 shares of the oil and natural gas company’s stock after selling 1,280 shares during the quarter. B. Riley Wealth Advisors Inc.’s holdings in Diamondback Energy were worth $773,000 as of its most recent SEC filing.

Other large investors also recently made changes to their positions in the company. Carolinas Wealth Consulting LLC raised its stake 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 purchasing an additional 55 shares during the period. HHM Wealth Advisors LLC acquired a new stake in Diamondback Energy in the 2nd quarter valued at approximately $40,000. Values First Advisors Inc. acquired a new stake in Diamondback Energy in the 3rd quarter valued at approximately $42,000. CVA Family Office LLC lifted its stake in Diamondback Energy by 28.1% in the 3rd quarter. CVA Family Office LLC now owns 296 shares of the oil and natural gas company’s stock valued at $51,000 after acquiring an additional 65 shares in the last quarter. Finally, Oliver Lagore Vanvalin Investment Group boosted its position in Diamondback Energy by 109.7% during the 2nd quarter. Oliver Lagore Vanvalin Investment Group now owns 260 shares of the oil and natural gas company’s stock worth $52,000 after acquiring an additional 136 shares during the last quarter. Institutional investors own 90.01% of the company’s stock.

Diamondback Energy Trading Up 0.8 %

Shares of Diamondback Energy stock opened at $160.14 on Wednesday. The firm’s 50-day moving average price is $178.01 and its two-hundred day moving average price is $187.38. The company has a market capitalization of $46.76 billion, a price-to-earnings ratio of 9.17, a PEG ratio of 1.21 and a beta of 1.88. Diamondback Energy, Inc. has a 12-month low of $147.93 and a 12-month high of $214.50. The company has a quick ratio of 0.42, a current ratio of 0.45 and a debt-to-equity ratio of 0.31.

Diamondback Energy (NASDAQ:FANG) last posted its earnings results on Monday, November 4th. The oil and natural gas company reported $3.38 earnings per share for the quarter, missing analysts’ consensus estimates of $4.62 by ($1.24). The company had revenue of $2.65 billion for the quarter, compared to the consensus estimate of $2.43 billion. Diamondback Energy had a return on equity of 13.68% and a net margin of 33.64%. The business’s quarterly revenue was up 13.0% compared to the same quarter last year. During the same period in the previous year, the firm posted $5.49 EPS. On average, analysts forecast that Diamondback Energy, Inc. will post 16.28 earnings per share for the current fiscal year.

Diamondback Energy Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, November 21st. Stockholders of record on Thursday, November 14th were paid a dividend of $0.90 per share. This represents a $3.60 dividend on an annualized basis and a dividend yield of 2.25%. The ex-dividend date of this dividend was Thursday, November 14th. Diamondback Energy’s payout ratio is 20.61%.

Analyst Ratings Changes

Several brokerages recently commented on FANG. Wells Fargo & Company increased their target price on shares of Diamondback Energy from $218.00 to $219.00 and gave the stock an “overweight” rating in a report on Tuesday. Johnson Rice cut Diamondback Energy from a “strong-buy” rating to a “moderate buy” rating in a report on Tuesday, September 24th. UBS Group dropped their target price on Diamondback Energy from $235.00 to $212.00 and set a “buy” rating on the stock in a report on Monday, December 9th. Royal Bank of Canada reissued an “outperform” rating and set a $210.00 price target on shares of Diamondback Energy in a research report on Wednesday, November 6th. Finally, Scotiabank lowered their price target on Diamondback Energy from $245.00 to $225.00 and set a “sector outperform” rating on the stock in a research report on Thursday, October 10th. One analyst has rated the stock with a sell rating, five have issued a hold rating, seventeen have issued a buy rating and two have given a strong buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $210.70.

Insider Buying and Selling

In other Diamondback Energy news, major shareholder Lyndal Greth sold 13,212,830 shares of the stock in a transaction that occurred on 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 completion of the sale, the insider now owns 1,037,819 shares of the company’s stock, valued at approximately $181,732,485.09. This represents a 92.72 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Mark Lawrence Plaumann sold 1,150 shares of the company’s stock in a transaction on Wednesday, November 13th. The shares were sold at an average price of $181.00, for a total transaction of $208,150.00. Following the completion of the sale, the director now directly owns 4,712 shares in the company, valued at approximately $852,872. This represents a 19.62 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.48% of the stock is owned by corporate insiders.

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.