Beck Capital Management LLC Sells 540 Shares of Diamondback Energy, Inc. (NASDAQ:FANG)

Beck Capital Management LLC lowered its stake in Diamondback Energy, Inc. (NASDAQ:FANG) by 7.2% in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 6,924 shares of the oil and natural gas company’s stock after selling 540 shares during the quarter. Beck Capital Management LLC’s holdings in Diamondback Energy were worth $1,194,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of the stock. First Community Trust NA bought a new stake in Diamondback Energy in the second quarter valued at $26,000. Carolinas Wealth Consulting LLC increased its position in 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 Diamondback Energy during the 2nd quarter worth approximately $40,000. Values First Advisors Inc. bought a new position in Diamondback Energy in the third quarter worth approximately $42,000. Finally, Founders Capital Management grew its stake in Diamondback Energy by 99.2% in the second quarter. Founders Capital Management now owns 251 shares of the oil and natural gas company’s stock valued at $50,000 after acquiring an additional 125 shares during the period. Institutional investors and hedge funds own 90.01% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have recently weighed in on the company. Morgan Stanley upped their target price on Diamondback Energy from $185.00 to $198.00 and gave the stock an “overweight” rating in a research report on Monday, September 16th. Truist Financial raised their price objective on shares of Diamondback Energy from $220.00 to $230.00 and gave the company a “buy” rating in a research note on Wednesday, October 16th. JPMorgan Chase & Co. assumed coverage on shares of Diamondback Energy in a research report on Wednesday, October 2nd. They set an “overweight” rating and a $182.00 target price for the company. Scotiabank lowered their target price on shares of Diamondback Energy from $245.00 to $225.00 and set a “sector outperform” rating on the stock in a report on Thursday, October 10th. Finally, Evercore ISI cut their price target on Diamondback Energy from $235.00 to $209.00 and set an “outperform” rating for the company in a research note on Monday, September 30th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating, seventeen have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $212.00.

Diamondback Energy Stock Up 0.8 %

Shares of NASDAQ FANG opened at $177.59 on Monday. The company has a quick ratio of 0.42, a current ratio of 0.45 and a debt-to-equity ratio of 0.31. The company has a market cap of $51.85 billion, a P/E ratio of 10.17, a P/E/G ratio of 1.31 and a beta of 1.89. Diamondback Energy, Inc. has a 52 week low of $145.70 and a 52 week high of $214.50. The business has a 50-day simple moving average of $181.95 and a two-hundred day simple moving average of $189.82.

Diamondback Energy (NASDAQ:FANG) last issued its quarterly earnings data on Monday, November 4th. The oil and natural gas company reported $3.38 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $4.62 by ($1.24). The business had revenue of $2.65 billion during the quarter, compared to analysts’ expectations 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% on a year-over-year basis. During the same quarter last year, the business posted $5.49 EPS. Research analysts anticipate that Diamondback Energy, Inc. will post 16.26 earnings per share for the current fiscal year.

Diamondback Energy Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, November 21st. Shareholders of record on Thursday, November 14th were given a $0.90 dividend. The ex-dividend date was Thursday, November 14th. This represents a $3.60 annualized dividend and a yield of 2.03%. Diamondback Energy’s payout ratio is currently 20.61%.

Insider Activity

In other Diamondback Energy news, Director Mark Lawrence Plaumann sold 1,150 shares of the firm’s stock in a transaction on Wednesday, November 13th. The stock was sold at an average price of $181.00, for a total transaction of $208,150.00. Following the completion of the transaction, the director now owns 4,712 shares of the company’s stock, valued at approximately $852,872. This trade represents a 19.62 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, major shareholder Lyndal Greth sold 13,212,830 shares of the stock in a transaction dated Monday, September 23rd. The stock was sold at an average price of $175.11, for a total transaction of $2,313,698,661.30. Following the completion of the transaction, the insider now owns 1,037,819 shares of the company’s stock, valued at approximately $181,732,485.09. The trade was a 92.72 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.48% of the company’s stock.

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.