Diamondback Energy, Inc. (NASDAQ:FANG) Stock Holdings Cut by B. Riley Wealth Advisors Inc.

B. Riley Wealth Advisors Inc. decreased its position in Diamondback Energy, Inc. (NASDAQ:FANG) by 23.1% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 4,273 shares of the oil and natural gas company’s stock after selling 1,280 shares during the quarter. B. Riley Wealth Advisors Inc.’s holdings in Diamondback Energy were worth $773,000 at the end of the most recent reporting period.

Other large investors have also bought and sold shares of the company. Carolinas Wealth Consulting LLC boosted its holdings in Diamondback Energy by 67.1% during the second quarter. Carolinas Wealth Consulting LLC now owns 137 shares of the oil and natural gas company’s stock worth $27,000 after buying an additional 55 shares in the last quarter. HHM Wealth Advisors LLC acquired a new position in shares of Diamondback Energy in the 2nd quarter valued at $40,000. Values First Advisors Inc. purchased a new position in Diamondback Energy in the 3rd quarter worth about $42,000. Oliver Lagore Vanvalin Investment Group raised its holdings in Diamondback Energy by 109.7% during the 2nd quarter. Oliver Lagore Vanvalin Investment Group now owns 260 shares of the oil and natural gas company’s stock worth $52,000 after buying an additional 136 shares during the period. Finally, CVA Family Office LLC lifted its stake in Diamondback Energy by 28.1% during the third quarter. CVA Family Office LLC now owns 296 shares of the oil and natural gas company’s stock valued at $51,000 after buying an additional 65 shares in the last quarter. Institutional investors own 90.01% of the company’s stock.

Diamondback Energy Price Performance

NASDAQ:FANG opened at $160.14 on Wednesday. The company has a market capitalization of $46.76 billion, a price-to-earnings ratio of 9.17, a PEG ratio of 1.21 and a beta of 1.88. The company has a 50-day moving average of $178.01 and a 200-day moving average of $187.38. 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.

Diamondback Energy (NASDAQ:FANG) last issued its quarterly earnings data on Monday, November 4th. The oil and natural gas company reported $3.38 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $4.62 by ($1.24). Diamondback Energy had a net margin of 33.64% and a return on equity of 13.68%. The company had revenue of $2.65 billion for the quarter, compared to the consensus estimate of $2.43 billion. During the same period in the previous year, the business posted $5.49 earnings per share. The firm’s revenue was up 13.0% compared to the same quarter last year. As a group, equities research analysts anticipate that Diamondback Energy, Inc. will post 16.28 earnings per share for the current fiscal year.

Diamondback Energy Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, November 21st. Stockholders of record on Thursday, November 14th were paid a $0.90 dividend. This represents a $3.60 dividend on an annualized basis and a dividend yield of 2.25%. The ex-dividend date of this dividend was Thursday, November 14th. Diamondback Energy’s dividend payout ratio (DPR) is currently 20.61%.

Insider Buying and Selling at Diamondback Energy

In other Diamondback Energy news, Director Mark Lawrence Plaumann sold 1,150 shares of Diamondback Energy stock in a transaction on Wednesday, November 13th. The shares were sold at an average price of $181.00, for a total transaction of $208,150.00. Following the completion of the sale, the director now owns 4,712 shares of the company’s stock, valued at approximately $852,872. The trade was a 19.62 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, 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 value of $2,313,698,661.30. Following the completion of the sale, the insider now owns 1,037,819 shares of the company’s stock, valued at $181,732,485.09. This represents a 92.72 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.48% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on the company. Jefferies Financial Group assumed coverage on Diamondback Energy in a report on Monday, September 16th. They issued a “hold” rating and a $185.00 target price for the company. Benchmark restated a “buy” rating and set a $195.00 price objective on shares of Diamondback Energy in a research report on Tuesday, October 29th. Wells Fargo & Company upped their target price on Diamondback Energy from $218.00 to $219.00 and gave the company an “overweight” rating in a report on Tuesday. Barclays upgraded shares of Diamondback Energy from an “equal weight” rating to an “overweight” rating and decreased their price target for the stock from $216.00 to $210.00 in a report on Wednesday, October 2nd. Finally, UBS Group dropped their price objective on shares of Diamondback Energy from $235.00 to $212.00 and set a “buy” rating on the stock in a research note on Monday, December 9th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating, seventeen have given a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat.com, Diamondback Energy presently has an average rating of “Moderate Buy” and an average target price of $210.70.

About Diamondback Energy

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.