Tradewinds LLC. Purchases 514 Shares of Diamondback Energy, Inc. (NASDAQ:FANG)

Tradewinds LLC. increased its holdings in Diamondback Energy, Inc. (NASDAQ:FANG) by 13.0% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 4,466 shares of the oil and natural gas company’s stock after purchasing an additional 514 shares during the period. Tradewinds LLC.’s holdings in Diamondback Energy were worth $770,000 at the end of the most recent quarter.

Several other institutional investors have also bought and sold shares of the business. Wealth Enhancement Advisory Services LLC raised its position in shares of Diamondback Energy by 178.1% during the 2nd 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 buying an additional 19,552 shares in the last quarter. Atria Investments Inc grew its stake in shares of Diamondback Energy by 18.5% during the third quarter. Atria Investments Inc now owns 42,678 shares of the oil and natural gas company’s stock valued at $7,358,000 after buying an additional 6,672 shares during the last quarter. Cullen Investment Group LTD. grew its position in Diamondback Energy by 33.5% in the 3rd quarter. Cullen Investment Group LTD. now owns 11,978 shares of the oil and natural gas company’s stock valued at $2,065,000 after acquiring an additional 3,008 shares during the last quarter. ORG Partners LLC increased its stake in Diamondback Energy by 2,768.9% in the second quarter. ORG Partners LLC now owns 4,332 shares of the oil and natural gas company’s stock worth $883,000 after purchasing an additional 4,181 shares during the period. Finally, Parkside Investments LLC bought a new stake in shares of Diamondback Energy during the second quarter worth $601,000. Institutional investors own 90.01% of the company’s stock.

Insider Activity

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 transaction, the insider now owns 1,037,819 shares of the company’s stock, 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 filing with the SEC, which is accessible through the SEC website. Also, Director Mark Lawrence Plaumann sold 1,150 shares of the business’s 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 sale, the director now directly owns 4,712 shares in the company, valued at $852,872. This trade represents a 19.62 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 0.48% of the company’s stock.

Diamondback Energy Trading Up 0.7 %

NASDAQ:FANG opened at $181.46 on Thursday. The firm has a 50 day moving average of $181.65 and a 200 day moving average of $191.00. The company has a quick ratio of 0.42, a current ratio of 0.45 and a debt-to-equity ratio of 0.31. Diamondback Energy, Inc. has a 52 week low of $145.70 and a 52 week high of $214.50. The stock has a market capitalization of $52.98 billion, a price-to-earnings ratio of 10.39, a PEG ratio of 1.32 and a beta of 1.89.

Diamondback Energy (NASDAQ:FANG) last issued its quarterly earnings data on Monday, November 4th. The oil and natural gas company reported $3.38 EPS for the quarter, missing the consensus estimate 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 for the quarter, compared to analysts’ expectations of $2.43 billion. During the same quarter in the prior year, the company posted $5.49 EPS. The business’s revenue for the quarter was up 13.0% on a year-over-year basis. As a group, sell-side analysts anticipate that Diamondback Energy, Inc. will post 16.37 earnings per share for the current fiscal year.

Diamondback Energy Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, November 21st. Stockholders of record on Thursday, November 14th will be paid a dividend of $0.90 per share. The ex-dividend date is Thursday, November 14th. This represents a $3.60 dividend on an annualized basis and a dividend yield of 1.98%. Diamondback Energy’s payout ratio is 20.61%.

Analysts Set New Price Targets

FANG has been the topic of a number of research analyst reports. KeyCorp cut their price target on shares of Diamondback Energy from $225.00 to $216.00 and set an “overweight” rating on the stock in a report on Wednesday, October 16th. BMO Capital Markets raised shares of Diamondback Energy from a “market perform” rating to an “outperform” rating and raised their target price for the stock from $205.00 to $215.00 in a research report on Friday, October 4th. Piper Sandler lifted their price target on shares of Diamondback Energy from $240.00 to $252.00 and gave the company an “overweight” rating in a research note on Tuesday, October 15th. Truist Financial increased their price objective on Diamondback Energy from $220.00 to $230.00 and gave the stock a “buy” rating in a research note on Wednesday, October 16th. Finally, StockNews.com raised Diamondback Energy from a “sell” rating to a “hold” rating in a research report on Wednesday, November 13th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating, seventeen have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, Diamondback Energy currently has a consensus rating of “Moderate Buy” and a consensus target price of $212.00.

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.