Benedict Financial Advisors Inc. Purchases 2,380 Shares of Diamondback Energy, Inc. (NASDAQ:FANG)

Benedict Financial Advisors Inc. boosted its position in Diamondback Energy, Inc. (NASDAQ:FANG) by 17.7% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 15,853 shares of the oil and natural gas company’s stock after purchasing an additional 2,380 shares during the period. Benedict Financial Advisors Inc.’s holdings in Diamondback Energy were worth $2,733,000 at the end of the most recent quarter.

Several other large investors have also recently bought and sold shares of FANG. Wealth Enhancement Advisory Services LLC increased its stake 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 during the period. Cullen Investment Group LTD. increased its position in Diamondback Energy by 33.5% in the 3rd quarter. Cullen Investment Group LTD. now owns 11,978 shares of the oil and natural gas company’s stock valued at $2,065,000 after acquiring an additional 3,008 shares during the period. ORG Partners LLC raised its stake in shares of Diamondback Energy by 2,768.9% during the second quarter. ORG Partners LLC now owns 4,332 shares of the oil and natural gas company’s stock valued at $883,000 after acquiring an additional 4,181 shares during the last quarter. Homestead Advisers Corp acquired a new position in shares of Diamondback Energy during the first quarter worth $87,940,000. Finally, Mediolanum International Funds Ltd bought a new stake in shares of Diamondback Energy in the first quarter worth $5,148,000. 90.01% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages have commented on FANG. Bank of America lifted their target price on Diamondback Energy from $201.00 to $215.00 and gave the stock a “neutral” rating in a report on Tuesday, July 23rd. BMO Capital Markets raised Diamondback Energy from a “market perform” rating to an “outperform” rating and lifted their price objective for the stock from $205.00 to $215.00 in a research note on Friday, October 4th. KeyCorp decreased their target price on shares of Diamondback Energy from $225.00 to $216.00 and set an “overweight” rating for the company in a research report on Wednesday, October 16th. Truist Financial boosted their price target on shares of Diamondback Energy from $220.00 to $230.00 and gave the stock a “buy” rating in a research report on Wednesday, October 16th. Finally, Sanford C. Bernstein reduced their price objective on shares of Diamondback Energy from $243.00 to $236.00 and set an “outperform” rating on the stock in a research note on Wednesday, July 17th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating, seventeen have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, Diamondback Energy has an average rating of “Moderate Buy” and an average price target of $210.09.

Insider Buying and Selling

In related news, major shareholder Lyndal Greth sold 13,212,830 shares of the firm’s stock in a transaction dated Monday, September 23rd. The shares were sold at an average price of $175.11, for a total transaction of $2,313,698,661.30. Following the transaction, the insider now directly owns 1,037,819 shares of the company’s stock, valued at $181,732,485.09. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.48% of the stock is currently owned by corporate insiders.

Diamondback Energy Stock Up 1.9 %

FANG traded up $3.47 during trading on Friday, hitting $184.38. 2,150,804 shares of the company’s stock were exchanged, compared to its average volume of 1,727,847. The stock has a market cap of $32.88 billion, a P/E ratio of 10.39, a PEG ratio of 1.22 and a beta of 1.89. The business’s 50 day moving average is $184.90 and its two-hundred day moving average is $194.10. Diamondback Energy, Inc. has a fifty-two week low of $145.70 and a fifty-two week high of $214.50. 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 (NASDAQ:FANG) last posted its earnings results on Monday, August 5th. The oil and natural gas company reported $4.52 earnings per share for the quarter, topping analysts’ consensus estimates of $4.51 by $0.01. The company had revenue of $2.48 billion for the quarter, compared to analyst estimates of $2.19 billion. Diamondback Energy had a net margin of 37.51% and a return on equity of 19.54%. The firm’s revenue was up 29.4% compared to the same quarter last year. During the same quarter in the prior year, the business posted $3.68 EPS. As a group, equities analysts expect that Diamondback Energy, Inc. will post 19.08 earnings per share for the current fiscal year.

Diamondback Energy Increases Dividend

The business also recently announced a None dividend, which was paid on Thursday, August 22nd. Investors of record on Thursday, August 15th were given a dividend of $2.34 per share. 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 presently 20.29%.

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.