Diamondback Energy, Inc. (NASDAQ:FANG) Shares Sold by Tyche Wealth Partners LLC

Tyche Wealth Partners LLC trimmed its stake in Diamondback Energy, Inc. (NASDAQ:FANG) by 2.6% during the third quarter, according to its most recent disclosure with the SEC. The fund owned 6,488 shares of the oil and natural gas company’s stock after selling 173 shares during the quarter. Tyche Wealth Partners LLC’s holdings in Diamondback Energy were worth $1,119,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently modified their holdings of the company. Wealthcare Advisory Partners LLC bought a new position in Diamondback Energy in the 1st quarter worth approximately $233,000. Wealth Enhancement Advisory Services LLC lifted its holdings in Diamondback Energy by 9.7% in the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 10,980 shares of the oil and natural gas company’s stock valued at $2,176,000 after acquiring an additional 967 shares during the last quarter. Hennion & Walsh Asset Management Inc. boosted its position in shares of Diamondback Energy by 27.7% during the 1st quarter. Hennion & Walsh Asset Management Inc. now owns 7,326 shares of the oil and natural gas company’s stock valued at $1,452,000 after purchasing an additional 1,589 shares in the last quarter. Park Place Capital Corp bought a new position in shares of Diamondback Energy during the 1st quarter valued at about $236,000. Finally, Sumitomo Mitsui Trust Holdings Inc. grew its stake in shares of Diamondback Energy by 0.8% in the 1st quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 429,164 shares of the oil and natural gas company’s stock worth $85,047,000 after purchasing an additional 3,582 shares during the last quarter. Institutional investors and hedge funds own 90.01% of the company’s stock.

Analyst Ratings Changes

FANG has been the subject of several recent research reports. JPMorgan Chase & Co. assumed coverage on shares of Diamondback Energy in a research note on Wednesday, October 2nd. They set an “overweight” rating and a $182.00 target price for the company. Sanford C. Bernstein decreased their price target on Diamondback Energy from $243.00 to $236.00 and set an “outperform” rating for the company in a research report on Wednesday, July 17th. Wolfe Research started coverage on Diamondback Energy in a research note on Thursday, July 18th. They issued a “peer perform” rating on the stock. Wells Fargo & Company reaffirmed a “sector outperform” rating on shares of Diamondback Energy in a research note on Friday, October 18th. Finally, Barclays upgraded shares of Diamondback Energy from an “equal weight” rating to an “overweight” rating and decreased their target price for the stock from $216.00 to $210.00 in a report on Wednesday, October 2nd. One analyst has rated the stock with a sell rating, five have issued a hold rating, seventeen have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $210.09.

Insiders Place Their Bets

In other news, major shareholder Lyndal Greth sold 13,212,830 shares of the company’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 completion of the transaction, the insider now owns 1,037,819 shares of the company’s stock, valued at approximately $181,732,485.09. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 0.48% of the company’s stock.

Diamondback Energy Stock Performance

NASDAQ:FANG traded up $0.07 during midday trading on Tuesday, reaching $178.26. The stock had a trading volume of 293,580 shares, compared to its average volume of 1,721,292. The stock has a market capitalization of $31.79 billion, a P/E ratio of 10.09, a PEG ratio of 1.27 and a beta of 1.89. Diamondback Energy, Inc. has a 1-year low of $145.70 and a 1-year high of $214.50. The company has a debt-to-equity ratio of 0.65, a current ratio of 3.66 and a quick ratio of 3.64. The firm’s fifty day simple moving average is $184.55 and its 200-day simple moving average is $193.72.

Diamondback Energy (NASDAQ:FANG) last issued its quarterly earnings results on Monday, August 5th. The oil and natural gas company reported $4.52 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.51 by $0.01. Diamondback Energy had a return on equity of 19.54% and a net margin of 37.51%. The company had revenue of $2.48 billion for the quarter, compared to the consensus estimate of $2.19 billion. During the same period last year, the business posted $3.68 earnings per share. The firm’s revenue was up 29.4% compared to the same quarter last year. On average, equities research analysts forecast that Diamondback Energy, Inc. will post 17.37 EPS for the current fiscal year.

Diamondback Energy Increases Dividend

The business also recently declared a None dividend, which was paid on Thursday, August 22nd. Shareholders of record on Thursday, August 15th were issued a $2.34 dividend. The ex-dividend date of this dividend was Thursday, August 15th. This is an increase from Diamondback Energy’s previous None dividend of $2.26. This represents a yield of 1.9%. Diamondback Energy’s dividend payout ratio is 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.