Teamwork Financial Advisors LLC Sells 53,317 Shares of Diamondback Energy, Inc. (NASDAQ:FANG)

Teamwork Financial Advisors LLC decreased its stake in Diamondback Energy, Inc. (NASDAQ:FANG) by 40.9% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 76,983 shares of the oil and natural gas company’s stock after selling 53,317 shares during the period. Diamondback Energy accounts for approximately 1.8% of Teamwork Financial Advisors LLC’s holdings, making the stock its 25th largest position. Teamwork Financial Advisors LLC’s holdings in Diamondback Energy were worth $13,272,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. Wealth Enhancement Advisory Services LLC grew its stake in 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 purchasing an additional 19,552 shares in the last quarter. Central Valley Advisors LLC bought a new position in shares of Diamondback Energy in the first quarter valued at $1,801,000. Cullen Investment Group LTD. increased its holdings in Diamondback Energy by 33.5% during the third quarter. Cullen Investment Group LTD. now owns 11,978 shares of the oil and natural gas company’s stock worth $2,065,000 after buying an additional 3,008 shares during the last quarter. ORG Partners LLC raised its position in 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 worth $883,000 after acquiring an additional 4,181 shares in the last quarter. Finally, Homestead Advisers Corp acquired a new stake in Diamondback Energy in the first quarter valued at $87,940,000. Institutional investors and hedge funds own 90.01% of the company’s stock.

Insider Activity

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 stock was sold at an average price of $175.11, for a total value of $2,313,698,661.30. Following the sale, 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 filing with the SEC, which is available through this link. Corporate insiders own 0.48% of the company’s stock.

Diamondback Energy Stock Up 0.8 %

FANG stock opened at $183.96 on Friday. Diamondback Energy, Inc. has a 52 week low of $145.70 and a 52 week high of $214.50. The business has a 50-day simple moving average of $186.67 and a 200 day simple moving average of $194.92. The company has a quick ratio of 3.64, a current ratio of 3.66 and a debt-to-equity ratio of 0.65. The company has a market cap of $32.81 billion, a PE ratio of 10.37, a price-to-earnings-growth ratio of 1.22 and a beta of 1.89.

Diamondback Energy (NASDAQ:FANG) last issued its earnings results on Monday, August 5th. The oil and natural gas company reported $4.52 EPS for the quarter, beating the consensus estimate of $4.51 by $0.01. The company had revenue of $2.48 billion during the quarter, compared to analysts’ expectations of $2.19 billion. Diamondback Energy had a net margin of 37.51% and a return on equity of 19.54%. The business’s revenue for the quarter was up 29.4% compared to the same quarter last year. During the same period in the previous year, the company earned $3.68 EPS. Sell-side analysts anticipate that Diamondback Energy, Inc. will post 19.08 EPS for the current fiscal year.

Diamondback Energy Increases Dividend

The firm also recently announced a None dividend, which was paid on Thursday, August 22nd. Shareholders of record on Thursday, August 15th were issued a $2.34 dividend. This represents a dividend yield of 1.9%. 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. Diamondback Energy’s dividend payout ratio (DPR) is currently 20.29%.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on FANG shares. Sanford C. Bernstein lowered 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. Benchmark boosted their price target on Diamondback Energy from $154.00 to $195.00 and gave the stock a “buy” rating in a research report on Thursday, October 3rd. Scotiabank dropped their price objective on Diamondback Energy from $245.00 to $225.00 and set a “sector outperform” rating on the stock in a research note on Thursday, October 10th. Truist Financial lifted their target price on Diamondback Energy from $220.00 to $230.00 and gave the stock a “buy” rating in a research note on Wednesday. Finally, Johnson Rice cut Diamondback Energy from a “strong-buy” rating to a “moderate buy” rating in a research note on Tuesday, September 24th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating, seventeen have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, Diamondback Energy has a consensus rating of “Moderate Buy” and a consensus price target of $210.32.

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.