Diamondback Energy, Inc. (NASDAQ:FANG) Shares Sold by Meridian Wealth Advisors LLC

Meridian Wealth Advisors LLC reduced its holdings in shares of Diamondback Energy, Inc. (NASDAQ:FANG) by 20.5% in the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 1,397 shares of the oil and natural gas company’s stock after selling 360 shares during the period. Meridian Wealth Advisors LLC’s holdings in Diamondback Energy were worth $229,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in FANG. Wintrust Investments LLC acquired a new position in shares of Diamondback Energy in the 4th quarter worth approximately $28,000. R Squared Ltd acquired a new stake in shares of Diamondback Energy in the fourth quarter valued at $29,000. UMB Bank n.a. lifted its holdings in shares of Diamondback Energy by 247.3% in the fourth quarter. UMB Bank n.a. now owns 191 shares of the oil and natural gas company’s stock valued at $31,000 after buying an additional 136 shares during the period. Key Financial Inc boosted its stake in shares of Diamondback Energy by 940.0% during the 4th quarter. Key Financial Inc now owns 208 shares of the oil and natural gas company’s stock worth $34,000 after acquiring an additional 188 shares in the last quarter. Finally, Rakuten Securities Inc. boosted its stake in shares of Diamondback Energy by 62.4% during the 4th quarter. Rakuten Securities Inc. now owns 276 shares of the oil and natural gas company’s stock worth $45,000 after acquiring an additional 106 shares in the last quarter. 90.01% of the stock is currently owned by hedge funds and other institutional investors.

Diamondback Energy Stock Up 0.0 %

Shares of NASDAQ FANG opened at $158.50 on Friday. The company has a current ratio of 0.45, a quick ratio of 0.42 and a debt-to-equity ratio of 0.31. Diamondback Energy, Inc. has a 12 month low of $137.09 and a 12 month high of $214.50. The firm has a market capitalization of $45.88 billion, a PE ratio of 9.07, a price-to-earnings-growth ratio of 1.24 and a beta of 1.85. The firm has a fifty day simple moving average of $160.47 and a two-hundred day simple moving average of $170.39.

Diamondback Energy (NASDAQ:FANG) last announced its quarterly earnings data on Tuesday, February 25th. The oil and natural gas company reported $3.64 EPS for the quarter, beating the consensus estimate of $3.57 by $0.07. Diamondback Energy had a net margin of 33.64% and a return on equity of 13.68%. The company had revenue of $3.71 billion for the quarter, compared to the consensus estimate of $3.55 billion. Equities analysts expect that Diamondback Energy, Inc. will post 15.49 earnings per share for the current year.

Diamondback Energy Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, March 13th. Investors of record on Thursday, March 6th were issued a $1.00 dividend. This is an increase from Diamondback Energy’s previous quarterly dividend of $0.90. The ex-dividend date of this dividend was Thursday, March 6th. This represents a $4.00 dividend on an annualized basis and a dividend yield of 2.52%. Diamondback Energy’s dividend payout ratio (DPR) is presently 25.32%.

Insider Buying and Selling

In other news, Director Frank D. Tsuru bought 2,000 shares of the firm’s stock in a transaction on Friday, February 28th. The shares were bought at an average price of $156.51 per share, for a total transaction of $313,020.00. Following the purchase, the director now owns 5,730 shares in the company, valued at approximately $896,802.30. The trade was a 53.62 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.48% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

FANG has been the topic of several research analyst reports. Piper Sandler lowered their price objective on shares of Diamondback Energy from $252.00 to $232.00 and set an “overweight” rating on the stock in a research report on Tuesday, December 17th. The Goldman Sachs Group initiated coverage on Diamondback Energy in a report on Monday, December 2nd. They issued a “buy” rating and a $227.00 target price for the company. Williams Trading set a $190.00 price target on shares of Diamondback Energy in a report on Wednesday, March 5th. JPMorgan Chase & Co. lowered their price target on shares of Diamondback Energy from $212.00 to $167.00 and set an “overweight” rating on the stock in a report on Thursday, March 13th. Finally, Wells Fargo & Company reduced their price objective on shares of Diamondback Energy from $219.00 to $215.00 and set an “overweight” rating on the stock in a research note on Wednesday, March 12th. Four equities research analysts have rated the stock with a hold rating, eighteen have issued a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $209.92.

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.