Ashton Thomas Private Wealth LLC Has $2.32 Million Holdings in Diamondback Energy, Inc. (NASDAQ:FANG)

Ashton Thomas Private Wealth LLC grew its stake in shares of Diamondback Energy, Inc. (NASDAQ:FANG) by 89.9% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 11,586 shares of the oil and natural gas company’s stock after acquiring an additional 5,486 shares during the period. Ashton Thomas Private Wealth LLC’s holdings in Diamondback Energy were worth $2,319,000 at the end of the most recent quarter.

Other hedge funds have also recently bought and sold shares of the company. Franklin Resources Inc. raised its position in shares of Diamondback Energy by 14.1% in the fourth 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 in the last quarter. Wealth Enhancement Advisory Services LLC raised its position in shares of Diamondback Energy by 178.1% in the second quarter. Wealth Enhancement Advisory Services LLC now owns 30,532 shares of the oil and natural gas company’s stock valued at $6,112,000 after buying an additional 19,552 shares in the last quarter. TFO Wealth Partners LLC raised its position in shares of Diamondback Energy by 78,990.0% in the fourth quarter. TFO Wealth Partners LLC now owns 7,909 shares of the oil and natural gas company’s stock valued at $1,227,000 after buying an additional 7,899 shares in the last quarter. Integrated Advisors Network LLC raised its position in shares of Diamondback Energy by 92.8% in the fourth quarter. Integrated Advisors Network LLC now owns 13,031 shares of the oil and natural gas company’s stock valued at $2,021,000 after buying an additional 6,272 shares in the last quarter. Finally, Kapitalo Investimentos Ltda raised its position in shares of Diamondback Energy by 1,842.5% in the fourth quarter. Kapitalo Investimentos Ltda now owns 4,390 shares of the oil and natural gas company’s stock valued at $681,000 after buying an additional 4,164 shares in the last quarter. 90.01% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

FANG has been the subject of a number of analyst reports. Sanford C. Bernstein dropped their price target on shares of Diamondback Energy from $243.00 to $236.00 and set an “outperform” rating for the company in a research report on Wednesday, July 17th. StockNews.com downgraded shares of Diamondback Energy from a “buy” rating to a “hold” rating in a research report on Saturday, July 6th. Susquehanna decreased their price objective on shares of Diamondback Energy from $245.00 to $237.00 and set a “positive” rating on the stock in a research note on Wednesday, September 4th. Benchmark reissued a “buy” rating and issued a $154.00 price objective on shares of Diamondback Energy in a research note on Tuesday, August 6th. Finally, Truist Financial lifted their price objective on shares of Diamondback Energy from $249.00 to $255.00 and gave the company a “buy” rating in a research note on Wednesday, August 7th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating, fourteen have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $211.45.

Diamondback Energy Stock Performance

Shares of Diamondback Energy stock opened at $179.21 on Tuesday. The company has a quick ratio of 3.64, a current ratio of 3.66 and a debt-to-equity ratio of 0.65. Diamondback Energy, Inc. has a twelve month low of $143.08 and a twelve month high of $214.50. The stock has a market cap of $31.97 billion, a price-to-earnings ratio of 10.10, a P/E/G ratio of 1.13 and a beta of 1.89. The company’s fifty day moving average is $197.55 and its 200 day moving average is $196.06.

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 for the quarter, topping the consensus estimate of $4.51 by $0.01. Diamondback Energy had a net margin of 37.51% and a return on equity of 19.54%. The company had revenue of $2.48 billion for the quarter, compared to analysts’ expectations of $2.19 billion. During the same quarter in the previous year, the firm posted $3.68 earnings per share. Diamondback Energy’s revenue for the quarter was up 29.4% on a year-over-year basis. Sell-side analysts forecast that Diamondback Energy, Inc. will post 19.08 EPS for the current year.

Diamondback Energy Increases Dividend

The firm also recently disclosed a None dividend, which was paid on Thursday, August 22nd. Investors of record on Thursday, August 15th were paid a $2.34 dividend. This is a boost from Diamondback Energy’s previous None dividend of $2.26. The ex-dividend date of this dividend was Thursday, August 15th. This represents a dividend yield of 1.9%. Diamondback Energy’s payout ratio is currently 20.29%.

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.