Meridian Wealth Advisors LLC Has $229,000 Stock Holdings in Diamondback Energy, Inc. (NASDAQ:FANG)

Meridian Wealth Advisors LLC lessened its holdings in shares of Diamondback Energy, Inc. (NASDAQ:FANG) by 20.5% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,397 shares of the oil and natural gas company’s stock after selling 360 shares during the quarter. Meridian Wealth Advisors LLC’s holdings in Diamondback Energy were worth $229,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also bought and sold shares of FANG. Lakewood Asset Management LLC boosted its position in Diamondback Energy by 0.5% during the fourth quarter. Lakewood Asset Management LLC now owns 11,340 shares of the oil and natural gas company’s stock worth $1,858,000 after purchasing an additional 60 shares during the period. Magnolia Capital Advisors LLC grew its holdings in Diamondback Energy by 2.0% during the 4th quarter. Magnolia Capital Advisors LLC now owns 3,247 shares of the oil and natural gas company’s stock valued at $532,000 after buying an additional 64 shares in the last quarter. Barden Capital Management Inc. grew its holdings in Diamondback Energy by 1.5% during the 4th quarter. Barden Capital Management Inc. now owns 4,380 shares of the oil and natural gas company’s stock valued at $718,000 after buying an additional 64 shares in the last quarter. Citizens Financial Group Inc. RI grew its holdings in Diamondback Energy by 2.4% during the 3rd quarter. Citizens Financial Group Inc. RI now owns 2,795 shares of the oil and natural gas company’s stock valued at $482,000 after buying an additional 65 shares in the last quarter. Finally, Greenleaf Trust grew its holdings in Diamondback Energy by 1.0% during the 4th quarter. Greenleaf Trust now owns 6,892 shares of the oil and natural gas company’s stock valued at $1,129,000 after buying an additional 66 shares in the last quarter. 90.01% of the stock is owned by hedge funds and other institutional investors.

Diamondback Energy Stock Up 0.0 %

Shares of NASDAQ:FANG opened at $158.50 on Friday. The company has a debt-to-equity ratio of 0.31, a current ratio of 0.45 and a quick ratio of 0.42. The firm has a market capitalization of $45.88 billion, a PE ratio of 9.07, a price-to-earnings-growth ratio of 1.24 and a beta of 1.85. The firm’s 50-day moving average is $160.47 and its two-hundred day moving average is $170.39. Diamondback Energy, Inc. has a 1 year low of $137.09 and a 1 year high of $214.50.

Diamondback Energy (NASDAQ:FANG) last issued its earnings results on Tuesday, February 25th. The oil and natural gas company reported $3.64 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.57 by $0.07. The business had revenue of $3.71 billion during the quarter, compared to analysts’ expectations of $3.55 billion. Diamondback Energy had a net margin of 33.64% and a return on equity of 13.68%. Analysts predict that Diamondback Energy, Inc. will post 15.49 EPS for the current year.

Diamondback Energy Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, March 13th. Stockholders of record on Thursday, March 6th were paid a dividend of $1.00 per share. This represents a $4.00 annualized dividend and a dividend yield of 2.52%. The ex-dividend date was Thursday, March 6th. This is a boost from Diamondback Energy’s previous quarterly dividend of $0.90. Diamondback Energy’s dividend payout ratio is 25.32%.

Insider Activity

In related news, Director Frank D. Tsuru purchased 2,000 shares of the business’s stock in a transaction dated Friday, February 28th. The stock was acquired at an average price of $156.51 per share, for a total transaction of $313,020.00. Following the acquisition, the director now directly owns 5,730 shares of the company’s stock, valued at $896,802.30. This trade represents a 53.62 % increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 0.48% of the company’s stock.

Analyst Upgrades and Downgrades

FANG has been the topic of a number of research reports. UBS Group raised their price target on Diamondback Energy from $212.00 to $216.00 and gave the company a “buy” rating in a research report on Thursday, February 13th. Morgan Stanley lifted their target price on shares of Diamondback Energy from $220.00 to $227.00 and gave the company an “overweight” rating in a report on Wednesday, February 19th. Williams Trading set a $190.00 target price on shares of Diamondback Energy in a research note on Wednesday, March 5th. Raymond James dropped their price target on shares of Diamondback Energy from $245.00 to $214.00 and set a “strong-buy” rating on the stock in a report on Wednesday, March 12th. Finally, Mizuho raised their price target on shares of Diamondback Energy from $201.00 to $204.00 and gave the company an “outperform” rating in a report on Tuesday, February 25th. Four analysts have rated the stock with a hold rating, eighteen have given a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $209.92.

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.