Continuum Advisory LLC Acquires 22,570 Shares of Diamondback Energy, Inc. (NASDAQ:FANG)

Continuum Advisory LLC lifted its holdings in Diamondback Energy, Inc. (NASDAQ:FANG) by 51,295.5% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 22,614 shares of the oil and natural gas company’s stock after buying an additional 22,570 shares during the period. Continuum Advisory LLC’s holdings in Diamondback Energy were worth $4,125,000 at the end of the most recent reporting period.

Several other hedge funds have also recently made changes to their positions in the business. Wealth Enhancement Advisory Services LLC raised its position in Diamondback Energy by 178.1% in the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 30,532 shares of the oil and natural gas company’s stock worth $6,112,000 after purchasing an additional 19,552 shares during the period. Benjamin Edwards Inc. lifted its position in shares of Diamondback Energy by 368.1% during the third quarter. Benjamin Edwards Inc. now owns 9,784 shares of the oil and natural gas company’s stock worth $1,687,000 after purchasing an additional 7,694 shares during the last quarter. Atria Investments Inc boosted its stake in shares of Diamondback Energy by 18.5% during the third quarter. Atria Investments Inc now owns 42,678 shares of the oil and natural gas company’s stock valued at $7,358,000 after purchasing an additional 6,672 shares during the period. Cullen Investment Group LTD. grew its holdings in shares of Diamondback Energy by 33.5% in the third quarter. Cullen Investment Group LTD. now owns 11,978 shares of the oil and natural gas company’s stock worth $2,065,000 after purchasing an additional 3,008 shares during the last quarter. Finally, ORG Partners LLC increased its stake in Diamondback Energy by 2,768.9% in the 2nd quarter. ORG Partners LLC now owns 4,332 shares of the oil and natural gas company’s stock worth $883,000 after buying an additional 4,181 shares during the period. 90.01% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Diamondback Energy

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

Diamondback Energy Price Performance

Shares of FANG opened at $166.83 on Monday. The company has a debt-to-equity ratio of 0.31, a current ratio of 0.45 and a quick ratio of 0.42. The company’s fifty day moving average price is $181.38 and its 200-day moving average price is $188.99. Diamondback Energy, Inc. has a 1-year low of $146.52 and a 1-year high of $214.50. The firm has a market capitalization of $48.71 billion, a PE ratio of 9.55, a price-to-earnings-growth ratio of 1.23 and a beta of 1.88.

Diamondback Energy (NASDAQ:FANG) last posted its quarterly earnings results on Monday, November 4th. The oil and natural gas company reported $3.38 earnings per share for the quarter, missing the consensus estimate of $4.62 by ($1.24). Diamondback Energy had a net margin of 33.64% and a return on equity of 13.68%. The firm had revenue of $2.65 billion for the quarter, compared to analysts’ expectations of $2.43 billion. During the same quarter in the previous year, the firm posted $5.49 EPS. The firm’s revenue for the quarter was up 13.0% compared to the same quarter last year. On average, equities research analysts predict that Diamondback Energy, Inc. will post 16.26 EPS for the current year.

Diamondback Energy Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, November 21st. Shareholders of record on Thursday, November 14th were given a dividend of $0.90 per share. This represents a $3.60 dividend on an annualized basis and a yield of 2.16%. The ex-dividend date was Thursday, November 14th. Diamondback Energy’s dividend payout ratio is presently 20.61%.

Analyst Ratings Changes

Several research firms have issued reports on FANG. StockNews.com upgraded shares of Diamondback Energy from a “sell” rating to a “hold” rating in a research note on Wednesday, November 13th. BMO Capital Markets raised Diamondback Energy from a “market perform” rating to an “outperform” rating and increased their price objective for the stock from $205.00 to $215.00 in a research note on Friday, October 4th. Scotiabank decreased their target price on Diamondback Energy from $245.00 to $225.00 and set a “sector outperform” rating for the company in a research report on Thursday, October 10th. The Goldman Sachs Group started coverage on Diamondback Energy in a research report on Monday, December 2nd. They set a “buy” rating and a $227.00 price target on the stock. Finally, Evercore ISI decreased their price objective on Diamondback Energy from $235.00 to $209.00 and set an “outperform” rating for the company in a report on Monday, September 30th. One research analyst has rated the stock with a sell rating, five have issued a hold rating, seventeen have given a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $212.65.

Diamondback Energy Company 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.