IHT Wealth Management LLC Buys 881 Shares of Diamondback Energy, Inc. (NASDAQ:FANG)

IHT Wealth Management LLC increased its stake in Diamondback Energy, Inc. (NASDAQ:FANG) by 64.7% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 2,243 shares of the oil and natural gas company’s stock after purchasing an additional 881 shares during the quarter. IHT Wealth Management LLC’s holdings in Diamondback Energy were worth $390,000 at the end of the most recent quarter.

Several other institutional investors have also bought and sold shares of FANG. Carolinas Wealth Consulting LLC increased its position in Diamondback Energy by 67.1% in 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 during the last quarter. HHM Wealth Advisors LLC purchased a new stake in Diamondback Energy in the 2nd quarter worth about $40,000. Values First Advisors Inc. purchased a new stake in Diamondback Energy in the 3rd quarter worth about $42,000. Oliver Lagore Vanvalin Investment Group raised its stake in Diamondback Energy by 109.7% in the 2nd quarter. Oliver Lagore Vanvalin Investment Group now owns 260 shares of the oil and natural gas company’s stock valued at $52,000 after acquiring an additional 136 shares during the period. Finally, CVA Family Office LLC lifted its holdings 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 purchasing an additional 65 shares during the last quarter. Hedge funds and other institutional investors own 90.01% of the company’s stock.

Insider Buying and Selling at Diamondback Energy

In other news, Director Mark Lawrence Plaumann sold 1,150 shares of the stock in a transaction that occurred on Wednesday, November 13th. The stock was 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. This represents a 19.62 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, major shareholder Lyndal Greth sold 13,212,830 shares of Diamondback Energy stock in a transaction on Monday, September 23rd. The stock was 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 directly owns 1,037,819 shares in the company, valued at approximately $181,732,485.09. The trade was a 92.72 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 0.48% of the company’s stock.

Diamondback Energy Price Performance

Shares of Diamondback Energy stock opened at $166.83 on Monday. The firm has a market capitalization of $48.71 billion, a PE ratio of 9.55, a price-to-earnings-growth ratio of 1.26 and a beta of 1.88. The company has a current ratio of 0.45, a quick ratio of 0.42 and a debt-to-equity ratio of 0.31. Diamondback Energy, Inc. has a 12 month low of $146.52 and a 12 month high of $214.50. The business’s 50-day moving average price is $181.38 and its 200-day moving average price is $188.99.

Diamondback Energy (NASDAQ:FANG) last issued its quarterly earnings results on Monday, November 4th. The oil and natural gas company reported $3.38 EPS for the quarter, missing analysts’ consensus estimates of $4.62 by ($1.24). The business had revenue of $2.65 billion for the quarter, compared to the consensus estimate of $2.43 billion. Diamondback Energy had a net margin of 33.64% and a return on equity of 13.68%. The firm’s revenue was up 13.0% on a year-over-year basis. During the same quarter in the previous year, the business earned $5.49 earnings per share. Sell-side analysts forecast that Diamondback Energy, Inc. will post 16.26 EPS for the current fiscal year.

Diamondback Energy Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, November 21st. Shareholders of record on Thursday, November 14th were paid a $0.90 dividend. This represents a $3.60 annualized dividend and a yield of 2.16%. The ex-dividend date of this dividend was Thursday, November 14th. Diamondback Energy’s dividend payout ratio is presently 20.61%.

Analyst Ratings Changes

Several research firms have recently weighed in on FANG. Johnson Rice downgraded shares of Diamondback Energy from a “strong-buy” rating to a “moderate buy” rating in a research note on Tuesday, September 24th. JPMorgan Chase & Co. initiated coverage on shares of Diamondback Energy in a research note on Wednesday, October 2nd. They issued an “overweight” rating and a $182.00 price objective for the company. Wells Fargo & Company restated a “sector outperform” rating on shares of Diamondback Energy in a research report on Friday, October 18th. Evercore ISI reduced their price target on Diamondback Energy from $235.00 to $209.00 and set an “outperform” rating for the company in a research report on Monday, September 30th. Finally, KeyCorp dropped their price objective on Diamondback Energy from $225.00 to $216.00 and set an “overweight” rating on the stock in a report on Wednesday, October 16th. One analyst has rated the stock with a sell rating, five have given a hold rating, seventeen have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $212.65.

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.