LRI Investments LLC Has $2.96 Million Holdings in Diamondback Energy, Inc. (NASDAQ:FANG)

LRI Investments LLC raised its stake in Diamondback Energy, Inc. (NASDAQ:FANG) by 4,252.7% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 17,193 shares of the oil and natural gas company’s stock after buying an additional 16,798 shares during the quarter. LRI Investments LLC’s holdings in Diamondback Energy were worth $2,964,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in FANG. Carolinas Wealth Consulting LLC increased its holdings in shares of 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 acquiring an additional 55 shares in the last quarter. Financial Advocates Investment Management lifted its stake in Diamondback Energy by 3.0% in the third quarter. Financial Advocates Investment Management now owns 1,907 shares of the oil and natural gas company’s stock valued at $329,000 after buying an additional 55 shares in the last quarter. Center For Asset Management LLC boosted its holdings in shares of Diamondback Energy by 3.3% in the second quarter. Center For Asset Management LLC now owns 1,859 shares of the oil and natural gas company’s stock valued at $372,000 after buying an additional 60 shares during the period. Brighton Jones LLC lifted its position in Diamondback Energy by 0.8% in the 2nd quarter. Brighton Jones LLC now owns 7,821 shares of the oil and natural gas company’s stock valued at $1,566,000 after acquiring an additional 60 shares in the last quarter. Finally, Greenup Street Wealth Management LLC boosted its stake in Diamondback Energy by 3.4% in the 3rd quarter. Greenup Street Wealth Management LLC now owns 1,817 shares of the oil and natural gas company’s stock worth $313,000 after purchasing an additional 60 shares during the period. Institutional investors own 90.01% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on FANG. KeyCorp reduced their price objective on Diamondback Energy from $225.00 to $216.00 and set an “overweight” rating for the company in a research report on Wednesday, October 16th. Barclays raised 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 research note on Wednesday, October 2nd. Citigroup started coverage on shares of Diamondback Energy in a research report on Monday, October 14th. They issued a “neutral” rating and a $195.00 price objective on the stock. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $210.00 target price on shares of Diamondback Energy in a research report on Wednesday, November 6th. Finally, Evercore ISI reduced their price objective on shares of Diamondback Energy from $235.00 to $209.00 and set an “outperform” rating for the company in a research note on Monday, September 30th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating, seventeen have issued a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat, Diamondback Energy has an average rating of “Moderate Buy” and a consensus price target of $212.65.

Insider Transactions at Diamondback Energy

In other Diamondback Energy news, major shareholder Lyndal Greth sold 13,212,830 shares of the firm’s 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 completion of the sale, the insider now directly owns 1,037,819 shares in the company, valued at approximately $181,732,485.09. This trade represents a 92.72 % 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, Director Mark Lawrence Plaumann sold 1,150 shares of the company’s stock in a transaction dated Wednesday, November 13th. The shares were sold at an average price of $181.00, for a total transaction of $208,150.00. Following the transaction, the director now owns 4,712 shares in the company, valued at $852,872. This represents a 19.62 % decrease in their position. 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 company has a quick ratio of 0.42, a current ratio of 0.45 and a debt-to-equity ratio of 0.31. The stock has a market capitalization of $48.71 billion, a price-to-earnings ratio of 9.55, a price-to-earnings-growth ratio of 1.23 and a beta of 1.88. Diamondback Energy, Inc. has a twelve month low of $146.52 and a twelve month high of $214.50. The company has a 50-day simple moving average of $181.38 and a two-hundred day simple moving average of $188.99.

Diamondback Energy (NASDAQ:FANG) last posted 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 analyst estimates of $2.43 billion. Diamondback Energy had a return on equity of 13.68% and a net margin of 33.64%. Diamondback Energy’s quarterly revenue was up 13.0% on a year-over-year basis. During the same period last year, the firm posted $5.49 EPS. Analysts forecast that Diamondback Energy, Inc. will post 16.26 EPS for the current year.

Diamondback Energy Dividend Announcement

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

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.