Montz Harcus Wealth Management LLC Purchases 127 Shares of Diamondback Energy, Inc. (NASDAQ:FANG)

Montz Harcus Wealth Management LLC grew its holdings in shares of Diamondback Energy, Inc. (NASDAQ:FANG) by 12.0% in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 1,183 shares of the oil and natural gas company’s stock after purchasing an additional 127 shares during the quarter. Montz Harcus Wealth Management LLC’s holdings in Diamondback Energy were worth $204,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors also recently added to or reduced their stakes in FANG. Custom Index Systems LLC purchased a new position in shares of Diamondback Energy during the 3rd quarter worth $611,000. Ellis Investment Partners LLC increased its stake in shares of Diamondback Energy by 0.5% in the 3rd quarter. Ellis Investment Partners LLC now owns 13,493 shares of the oil and natural gas company’s stock worth $2,326,000 after purchasing an additional 69 shares in the last quarter. Benedict Financial Advisors Inc. raised its holdings in Diamondback Energy by 17.7% in the 3rd quarter. Benedict Financial Advisors Inc. now owns 15,853 shares of the oil and natural gas company’s stock worth $2,733,000 after purchasing an additional 2,380 shares during the period. NorthCrest Asset Manangement LLC lifted its position in Diamondback Energy by 6.0% during the third quarter. NorthCrest Asset Manangement LLC now owns 1,650 shares of the oil and natural gas company’s stock valued at $284,000 after purchasing an additional 94 shares in the last quarter. Finally, Arkadios Wealth Advisors grew its holdings in Diamondback Energy by 2.7% during the third quarter. Arkadios Wealth Advisors now owns 5,873 shares of the oil and natural gas company’s stock valued at $1,012,000 after purchasing an additional 157 shares during the period. 90.01% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other news, major shareholder Lyndal Greth sold 13,212,830 shares of the stock in a transaction on 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 sale, 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 legal filing with the SEC, which can be accessed through this link. 0.48% of the stock is owned by insiders.

Diamondback Energy Price Performance

Shares of NASDAQ:FANG traded up $3.47 on Friday, reaching $184.38. The company’s stock had a trading volume of 2,150,804 shares, compared to its average volume of 2,919,997. The company has a 50-day simple moving average of $184.90 and a 200 day simple moving average of $194.02. Diamondback Energy, Inc. has a 52-week low of $145.70 and a 52-week high of $214.50. The company has a debt-to-equity ratio of 0.65, a quick ratio of 3.64 and a current ratio of 3.66. The company has a market cap of $54.34 billion, a P/E ratio of 9.53, a PEG ratio of 1.27 and a beta of 1.89.

Diamondback Energy (NASDAQ:FANG) last released its quarterly earnings results on Monday, August 5th. The oil and natural gas company reported $4.52 EPS for the quarter, topping 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 during the quarter, compared to analyst estimates of $2.19 billion. During the same quarter last year, the business posted $3.68 earnings per share. The firm’s revenue was up 29.4% on a year-over-year basis. As a group, equities research analysts anticipate 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. Investors of record on Thursday, August 15th were issued a dividend of $2.34 per share. This represents a yield of 1.9%. The ex-dividend date was Thursday, August 15th. This is a positive change from Diamondback Energy’s previous None dividend of $2.26. Diamondback Energy’s dividend payout ratio is presently 18.60%.

Analyst Ratings Changes

Several research analysts have recently commented on the company. Scotiabank decreased 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. Johnson Rice lowered shares of Diamondback Energy from a “strong-buy” rating to a “moderate buy” rating in a report on Tuesday, September 24th. Morgan Stanley lifted their price target on shares of Diamondback Energy from $185.00 to $198.00 and gave the company an “overweight” rating in a report on Monday, September 16th. Jefferies Financial Group began coverage on shares of Diamondback Energy in a research note on Monday, September 16th. They issued a “hold” rating and a $185.00 price objective for the company. Finally, Bank of America raised their price objective on shares of Diamondback Energy from $201.00 to $215.00 and gave the company a “neutral” rating in a research report on Tuesday, July 23rd. 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 issued a strong buy rating to the company’s stock. Based on data from MarketBeat, Diamondback Energy presently has an average rating of “Moderate Buy” and an average target price of $210.09.

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.