Avestar Capital LLC Has $407,000 Stake in Diamondback Energy, Inc. (NASDAQ:FANG)

Avestar Capital LLC lifted its holdings in shares of Diamondback Energy, Inc. (NASDAQ:FANG) by 3.2% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 2,363 shares of the oil and natural gas company’s stock after acquiring an additional 74 shares during the quarter. Avestar Capital LLC’s holdings in Diamondback Energy were worth $407,000 as of its most recent SEC filing.

Other large investors have also added to or reduced their stakes in the company. Lazard Asset Management LLC raised its position in shares of Diamondback Energy by 4.7% in the first quarter. Lazard Asset Management LLC now owns 4,584 shares of the oil and natural gas company’s stock valued at $908,000 after purchasing an additional 204 shares during the period. Janus Henderson Group PLC raised its holdings in Diamondback Energy by 74.1% in the 1st quarter. Janus Henderson Group PLC now owns 39,485 shares of the oil and natural gas company’s stock valued at $7,824,000 after acquiring an additional 16,804 shares during the period. B. Riley Wealth Advisors Inc. lifted its position in Diamondback Energy by 34.4% during the first quarter. B. Riley Wealth Advisors Inc. now owns 9,435 shares of the oil and natural gas company’s stock worth $1,870,000 after acquiring an additional 2,417 shares during the last quarter. Tidal Investments LLC boosted its holdings in shares of Diamondback Energy by 65.8% during the first quarter. Tidal Investments LLC now owns 14,786 shares of the oil and natural gas company’s stock worth $2,929,000 after acquiring an additional 5,869 shares during the period. Finally, Comerica Bank grew its position in shares of Diamondback Energy by 3.0% in the first quarter. Comerica Bank now owns 67,093 shares of the oil and natural gas company’s stock valued at $13,296,000 after purchasing an additional 1,985 shares during the last quarter. Institutional investors own 90.01% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms recently issued reports on FANG. Johnson Rice downgraded Diamondback Energy from a “strong-buy” rating to a “moderate buy” rating in a research note on Tuesday, September 24th. UBS Group reduced their target price on shares of Diamondback Energy from $247.00 to $223.00 and set a “buy” rating for the company in a research report on Wednesday, September 18th. Scotiabank lowered their price target on shares of Diamondback Energy from $245.00 to $225.00 and set a “sector outperform” rating on the stock in a research report on Thursday, October 10th. Susquehanna cut their price objective on shares of Diamondback Energy from $237.00 to $233.00 and set a “positive” rating for the company in a report on Friday, October 18th. Finally, Raymond James raised their target price on shares of Diamondback Energy from $232.00 to $237.00 and gave the stock a “strong-buy” rating in a report on Tuesday, November 19th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating, seventeen have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $212.00.

Diamondback Energy Price Performance

Diamondback Energy stock opened at $176.19 on Thursday. The stock has a 50-day moving average price of $182.13 and a two-hundred day moving average price of $190.18. Diamondback Energy, Inc. has a 12 month low of $145.70 and a 12 month high of $214.50. The company has a market capitalization of $51.45 billion, a PE ratio of 10.09, a P/E/G ratio of 1.32 and a beta of 1.89. 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 (NASDAQ:FANG) last issued its quarterly earnings data on Monday, November 4th. The oil and natural gas company reported $3.38 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $4.62 by ($1.24). Diamondback Energy had a net margin of 33.64% and a return on equity of 13.68%. The business had revenue of $2.65 billion during the quarter, compared to the consensus estimate of $2.43 billion. During the same quarter last year, the business earned $5.49 EPS. The firm’s quarterly revenue was up 13.0% compared to the same quarter last year. Analysts expect that Diamondback Energy, Inc. will post 16.26 EPS for the current year.

Diamondback Energy Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, November 21st. Investors of record on Thursday, November 14th were issued a $0.90 dividend. The ex-dividend date was Thursday, November 14th. This represents a $3.60 dividend on an annualized basis and a yield of 2.04%. Diamondback Energy’s payout ratio is 20.61%.

Insider Buying and Selling

In related news, Director Mark Lawrence Plaumann sold 1,150 shares of Diamondback Energy stock in a transaction on Wednesday, November 13th. The shares were sold at an average price of $181.00, for a total transaction of $208,150.00. Following the completion of the transaction, the director now owns 4,712 shares of the company’s stock, valued at $852,872. This trade represents a 19.62 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, major shareholder Lyndal Greth sold 13,212,830 shares of the business’s stock in a transaction on Monday, September 23rd. The shares were 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 owns 1,037,819 shares in the company, valued at approximately $181,732,485.09. The trade was a 92.72 % decrease in their position. The disclosure for this sale can be found here. 0.48% of the stock is owned by corporate insiders.

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.