Phillips Wealth Planners LLC Has $221,000 Stock Position in Diamondback Energy, Inc. (NASDAQ:FANG)

Phillips Wealth Planners LLC decreased its position in Diamondback Energy, Inc. (NASDAQ:FANG) by 19.7% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 1,263 shares of the oil and natural gas company’s stock after selling 310 shares during the period. Phillips Wealth Planners LLC’s holdings in Diamondback Energy were worth $221,000 as of its most recent SEC filing.

Other large investors have also recently added to or reduced their stakes in the company. Financial Advocates Investment Management raised its stake in Diamondback Energy by 3.0% during the 3rd quarter. Financial Advocates Investment Management now owns 1,907 shares of the oil and natural gas company’s stock worth $329,000 after buying an additional 55 shares during the period. Greenup Street Wealth Management LLC raised its stake in Diamondback Energy by 3.4% during the 3rd quarter. Greenup Street Wealth Management LLC now owns 1,817 shares of the oil and natural gas company’s stock worth $313,000 after buying an additional 60 shares during the period. Lakewood Asset Management LLC raised its stake in Diamondback Energy by 0.5% during the 4th quarter. Lakewood Asset Management LLC now owns 11,340 shares of the oil and natural gas company’s stock worth $1,858,000 after buying an additional 60 shares during the period. West Family Investments Inc. raised its stake in Diamondback Energy by 3.4% during the 3rd quarter. West Family Investments Inc. now owns 1,852 shares of the oil and natural gas company’s stock worth $319,000 after buying an additional 61 shares during the period. Finally, CVA Family Office LLC raised its stake in Diamondback Energy by 28.1% during the 3rd quarter. CVA Family Office LLC now owns 296 shares of the oil and natural gas company’s stock worth $51,000 after buying an additional 65 shares during the period. Institutional investors and hedge funds own 90.01% of the company’s stock.

Diamondback Energy Trading Up 0.4 %

Diamondback Energy stock opened at $177.59 on Thursday. Diamondback Energy, Inc. has a 52 week low of $147.93 and a 52 week high of $214.50. The company has a debt-to-equity ratio of 0.31, a quick ratio of 0.42 and a current ratio of 0.45. The stock has a market capitalization of $51.85 billion, a P/E ratio of 10.17, a PEG ratio of 1.48 and a beta of 1.88. The stock has a 50-day simple moving average of $170.56 and a 200 day simple moving average of $182.54.

Diamondback Energy (NASDAQ:FANG) last posted its quarterly earnings results on Monday, November 4th. The oil and natural gas company reported $3.38 EPS for the quarter, missing analysts’ consensus estimates of $4.62 by ($1.24). Diamondback Energy had a return on equity of 13.68% and a net margin of 33.64%. The business had revenue of $2.65 billion for the quarter, compared to the consensus estimate of $2.43 billion. During the same quarter in the previous year, the business posted $5.49 EPS. The company’s revenue for the quarter was up 13.0% on a year-over-year basis. Analysts expect that Diamondback Energy, Inc. will post 15.59 earnings per share for the current 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 dividend of $0.90 per share. The ex-dividend date of this dividend was Thursday, November 14th. This represents a $3.60 annualized dividend and a yield of 2.03%. Diamondback Energy’s dividend payout ratio (DPR) is presently 20.61%.

Insiders Place Their Bets

In other news, Director Mark Lawrence Plaumann sold 1,150 shares of Diamondback Energy stock in a transaction that occurred on Wednesday, November 13th. The shares were sold at an average price of $181.00, for a total value 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. The trade was a 19.62 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 0.48% of the company’s stock.

Analyst Ratings Changes

Several brokerages recently commented on FANG. Benchmark reaffirmed a “buy” rating and set a $195.00 price objective on shares of Diamondback Energy in a research note on Tuesday, October 29th. Piper Sandler dropped their price objective on Diamondback Energy from $252.00 to $232.00 and set an “overweight” rating on the stock in a research note on Tuesday, December 17th. Scotiabank lowered their target price on Diamondback Energy from $245.00 to $225.00 and set a “sector outperform” rating for the company in a report on Thursday, October 10th. The Goldman Sachs Group started coverage on Diamondback Energy in a report on Monday, December 2nd. They set a “buy” rating and a $227.00 target price for the company. Finally, Royal Bank of Canada reiterated an “outperform” rating and set a $210.00 target price on shares of Diamondback Energy in a report on Wednesday, November 6th. Four analysts have rated the stock with a hold rating, eighteen have given a buy rating and two have issued a strong buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $214.17.

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.