Diamondback Energy, Inc. (NASDAQ:FANG) Shares Bought by Atria Investments Inc

Atria Investments Inc raised its stake in shares of Diamondback Energy, Inc. (NASDAQ:FANG - Free Report) by 18.5% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 42,678 shares of the oil and natural gas company's stock after purchasing an additional 6,672 shares during the period. Atria Investments Inc's holdings in Diamondback Energy were worth $7,358,000 as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of FANG. First Community Trust NA acquired a new stake in shares of Diamondback Energy in the second quarter valued at $26,000. Carolinas Wealth Consulting LLC lifted its holdings in shares of Diamondback Energy by 67.1% during the 2nd quarter. Carolinas Wealth Consulting LLC now owns 137 shares of the oil and natural gas company's stock valued at $27,000 after purchasing an additional 55 shares in the last quarter. HHM Wealth Advisors LLC bought a new stake in Diamondback Energy in the 2nd quarter valued at approximately $40,000. Values First Advisors Inc. bought a new stake in shares of Diamondback Energy during the 3rd quarter worth approximately $42,000. Finally, Founders Capital Management raised its stake in shares of Diamondback Energy by 99.2% during the 2nd quarter. Founders Capital Management now owns 251 shares of the oil and natural gas company's stock worth $50,000 after purchasing an additional 125 shares in the last quarter. 90.01% of the stock is owned by institutional investors.

Diamondback Energy Price Performance

FANG stock traded up $0.78 during mid-day trading on Tuesday, reaching $179.91. The company's stock had a trading volume of 1,786,822 shares, compared to its average volume of 1,754,404. The company's 50 day moving average is $181.45 and its two-hundred day moving average is $191.96. The stock has a market cap of $53.03 billion, a PE ratio of 10.25, a P/E/G ratio of 1.28 and a beta of 1.89. The company has a current ratio of 0.45, a quick ratio of 3.64 and a debt-to-equity ratio of 0.31. Diamondback Energy, Inc. has a fifty-two week low of $145.70 and a fifty-two week high of $214.50.

Diamondback Energy (NASDAQ:FANG - Get Free Report) last issued its 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). Diamondback Energy had a return on equity of 13.68% and a net margin of 33.64%. The firm had revenue of $2.65 billion for the quarter, compared to analyst estimates of $2.43 billion. During the same quarter in the previous year, the firm posted $5.49 EPS. The business's revenue for the quarter was up 13.0% on a year-over-year basis. Equities research analysts expect that Diamondback Energy, Inc. will post 17 EPS for the current year.

Diamondback Energy Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, November 21st. Investors of record on Thursday, November 14th will be issued a dividend of $0.90 per share. The ex-dividend date of this dividend is Thursday, November 14th. This represents a $3.60 annualized dividend and a yield of 2.00%. Diamondback Energy's dividend payout ratio is currently 20.61%.

Analyst Ratings Changes

A number of research analysts have commented on FANG shares. KeyCorp decreased 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. UBS Group lowered their price objective on Diamondback Energy from $247.00 to $223.00 and set a "buy" rating for the company in a research report on Wednesday, September 18th. Morgan Stanley lifted their target price on Diamondback Energy from $185.00 to $198.00 and gave the stock an "overweight" rating in a report on Monday, September 16th. Bank of America boosted their price objective on Diamondback Energy from $201.00 to $215.00 and gave the company a "neutral" rating in a report on Tuesday, July 23rd. Finally, Piper Sandler boosted their price objective on Diamondback Energy from $240.00 to $252.00 and gave the company an "overweight" rating in a report on Tuesday, October 15th. Two analysts have rated the stock with a sell rating, four have issued a hold rating, seventeen have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, Diamondback Energy presently has an average rating of "Moderate Buy" and an average target price of $209.64.

Insider Activity

In related news, major shareholder Lyndal Greth sold 13,212,830 shares of the firm's stock in a transaction that occurred 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 sale, the insider now owns 1,037,819 shares in the company, valued at approximately $181,732,485.09. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 0.48% of the company's stock.

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.