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

U.S. Capital Wealth Advisors LLC lowered its stake in shares of Diamondback Energy, Inc. (NASDAQ:FANG) by 33.6% during the second quarter, according to its most recent Form 13F filing with the SEC. The fund owned 4,303 shares of the oil and natural gas company’s stock after selling 2,182 shares during the period. U.S. Capital Wealth Advisors LLC’s holdings in Diamondback Energy were worth $861,000 at the end of the most recent quarter.

Other large investors have also modified their holdings of the company. CWM LLC lifted its stake in shares of Diamondback Energy by 1.8% in the 4th quarter. CWM LLC now owns 19,717 shares of the oil and natural gas company’s stock valued at $3,058,000 after purchasing an additional 354 shares during the last quarter. Franklin Resources Inc. raised its holdings in shares of Diamondback Energy by 14.1% in the 4th quarter. Franklin Resources Inc. now owns 50,633 shares of the oil and natural gas company’s stock valued at $7,852,000 after buying an additional 6,240 shares during the period. Larson Financial Group LLC raised its holdings in shares of Diamondback Energy by 748.0% in the 4th quarter. Larson Financial Group LLC now owns 15,221 shares of the oil and natural gas company’s stock valued at $2,361,000 after buying an additional 13,426 shares during the period. Sequoia Financial Advisors LLC raised its holdings in shares of Diamondback Energy by 613.7% in the 4th quarter. Sequoia Financial Advisors LLC now owns 15,401 shares of the oil and natural gas company’s stock valued at $2,388,000 after buying an additional 13,243 shares during the period. Finally, abrdn plc raised its holdings in shares of Diamondback Energy by 70.9% in the 4th quarter. abrdn plc now owns 75,333 shares of the oil and natural gas company’s stock valued at $11,683,000 after buying an additional 31,241 shares during the period. Institutional investors and hedge funds own 90.01% of the company’s stock.

Insiders Place Their Bets

In other Diamondback Energy news, COO Daniel N. Wesson sold 6,000 shares of the stock in a transaction that occurred 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 sale, the chief operating officer now directly owns 69,677 shares of the company’s stock, valued at approximately $13,736,123.78. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.48% of the stock is owned by insiders.

Diamondback Energy Stock Performance

Shares of NASDAQ FANG traded up $2.28 during trading hours on Friday, reaching $199.77. The stock had a trading volume of 1,289,210 shares, compared to its average volume of 1,572,757. The firm has a market cap of $35.63 billion, a price-to-earnings ratio of 11.16, a PEG ratio of 1.06 and a beta of 1.90. The company has a current ratio of 0.92, a quick ratio of 0.89 and a debt-to-equity ratio of 0.37. Diamondback Energy, Inc. has a fifty-two week low of $143.08 and a fifty-two week high of $214.50. The firm has a 50-day moving average of $197.85 and a 200-day moving average of $190.79.

Diamondback Energy (NASDAQ:FANG) last announced its earnings results on Monday, August 5th. The oil and natural gas company reported $4.52 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $4.51 by $0.01. The firm had revenue of $2.48 billion during the quarter, compared to analysts’ expectations 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 was up 29.4% on a year-over-year basis. During the same period in the prior year, the firm earned $3.68 EPS. Equities research analysts predict that Diamondback Energy, Inc. will post 18.63 earnings per share for the current year.

Diamondback Energy Increases Dividend

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

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on FANG shares. Benchmark reiterated a “buy” rating and issued a $154.00 price objective on shares of Diamondback Energy in a report on Tuesday. Wells Fargo & Company boosted their price objective on Diamondback Energy from $224.00 to $231.00 and gave the company an “overweight” rating in a report on Thursday, July 18th. Piper Sandler boosted their price objective on Diamondback Energy from $247.00 to $249.00 and gave the company an “overweight” rating in a report on Thursday, July 18th. Morgan Stanley cut their price target on Diamondback Energy from $186.00 to $184.00 and set an “overweight” rating on the stock in a report on Monday, April 15th. Finally, KeyCorp initiated coverage on Diamondback Energy in a report on Thursday, June 27th. They set an “overweight” rating and a $225.00 price target on the stock. One analyst has rated the stock with a sell rating, six have assigned a hold rating, fourteen have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $210.00.

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.