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

U.S. Capital Wealth Advisors LLC lowered its position in shares of Diamondback Energy, Inc. (NASDAQ:FANG) by 33.6% during the 2nd quarter, HoldingsChannel reports. The institutional investor owned 4,303 shares of the oil and natural gas company’s stock after selling 2,182 shares during the quarter. U.S. Capital Wealth Advisors LLC’s holdings in Diamondback Energy were worth $861,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently bought and sold shares of the company. Vanguard Group Inc. raised its stake in Diamondback Energy by 0.8% during the fourth quarter. Vanguard Group Inc. now owns 21,869,787 shares of the oil and natural gas company’s stock valued at $3,391,567,000 after buying an additional 176,208 shares in the last quarter. Price T Rowe Associates Inc. MD raised its stake in Diamondback Energy by 38.2% during the first quarter. Price T Rowe Associates Inc. MD now owns 8,609,143 shares of the oil and natural gas company’s stock valued at $1,706,076,000 after buying an additional 2,381,488 shares in the last quarter. Boston Partners raised its stake in Diamondback Energy by 235.6% during the first quarter. Boston Partners now owns 2,730,482 shares of the oil and natural gas company’s stock valued at $541,844,000 after buying an additional 1,916,900 shares in the last quarter. Bank of New York Mellon Corp raised its stake in Diamondback Energy by 3.3% during the first quarter. Bank of New York Mellon Corp now owns 2,596,427 shares of the oil and natural gas company’s stock valued at $514,534,000 after buying an additional 83,883 shares in the last quarter. Finally, Dimensional Fund Advisors LP raised its stake in Diamondback Energy by 9.3% during the fourth quarter. Dimensional Fund Advisors LP now owns 2,213,631 shares of the oil and natural gas company’s stock valued at $343,296,000 after buying an additional 188,590 shares in the last quarter. Institutional investors and hedge funds own 90.01% of the company’s stock.

Insider Buying and Selling at Diamondback Energy

In other Diamondback Energy news, COO Daniel N. Wesson sold 6,000 shares of the stock in a transaction on Tuesday, May 28th. The stock was sold at an average price of $197.14, for a total transaction of $1,182,840.00. Following the completion of the transaction, the chief operating officer now directly owns 69,677 shares of the company’s stock, valued at approximately $13,736,123.78. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. 0.48% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

Several analysts have issued reports on FANG shares. Piper Sandler upped their price objective on Diamondback Energy from $247.00 to $249.00 and gave the company an “overweight” rating in a research note on Thursday, July 18th. Royal Bank of Canada upped their target price on Diamondback Energy from $195.00 to $220.00 and gave the company an “outperform” rating in a report on Monday, May 6th. Scotiabank lowered their target price on Diamondback Energy from $255.00 to $245.00 and set a “sector outperform” rating for the company in a report on Friday, July 12th. Sanford C. Bernstein lowered their target price on Diamondback Energy from $243.00 to $236.00 and set an “outperform” rating for the company in a report on Wednesday, July 17th. Finally, Benchmark reaffirmed a “buy” rating and set a $154.00 target price on shares of Diamondback Energy in a report on Tuesday. One research analyst has rated the stock with a sell rating, six have given a hold rating, fourteen have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $210.00.

Diamondback Energy Stock Performance

FANG stock traded up $2.28 on Friday, reaching $199.77. The company’s stock had a trading volume of 1,289,210 shares, compared to its average volume of 1,572,757. Diamondback Energy, Inc. has a 52 week low of $143.08 and a 52 week high of $214.50. The company has a market capitalization of $35.63 billion, a P/E ratio of 11.16, a price-to-earnings-growth ratio of 1.06 and a beta of 1.90. The firm has a fifty day moving average of $197.85 and a two-hundred day moving average of $190.79. The company has a debt-to-equity ratio of 0.37, a current ratio of 0.92 and a quick ratio of 0.89.

Diamondback Energy (NASDAQ:FANG) last issued its quarterly earnings data on Monday, August 5th. The oil and natural gas company reported $4.52 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $4.51 by $0.01. The business had revenue of $2.48 billion during the quarter, compared to analyst estimates of $2.19 billion. Diamondback Energy had a return on equity of 19.36% and a net margin of 36.71%. The business’s revenue for the quarter was up 29.4% compared to the same quarter last year. During the same period in the prior year, the company posted $3.68 EPS. As a group, analysts predict that Diamondback Energy, Inc. will post 18.63 EPS for the current fiscal year.

Diamondback Energy Increases Dividend

The company also recently declared a None dividend, which will be paid on Thursday, August 22nd. Shareholders of record on Thursday, August 15th will be paid a dividend of $2.34 per share. This is a positive change from Diamondback Energy’s previous None dividend of $2.26. This represents a yield of 1.9%. The ex-dividend date is Thursday, August 15th. Diamondback Energy’s dividend payout ratio (DPR) is presently 20.29%.

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.