Aviso Wealth Management Sells 4,200 Shares of Diamondback Energy, Inc. (NASDAQ:FANG)

Aviso Wealth Management decreased its position in Diamondback Energy, Inc. (NASDAQ:FANG - Free Report) by 54.5% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 3,510 shares of the oil and natural gas company's stock after selling 4,200 shares during the period. Aviso Wealth Management's holdings in Diamondback Energy were worth $605,000 at the end of the most recent quarter.

Other large investors have also added to or reduced their stakes in the company. First Community Trust NA bought a new position in Diamondback Energy during the second quarter worth $26,000. Carolinas Wealth Consulting LLC raised its stake in 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 worth $27,000 after buying an additional 55 shares during the period. HHM Wealth Advisors LLC bought a new position in Diamondback Energy in the second quarter worth approximately $40,000. Values First Advisors Inc. bought a new position in shares of Diamondback Energy in the 3rd quarter worth $42,000. Finally, Founders Capital Management increased its position in shares of Diamondback Energy by 99.2% during the second quarter. Founders Capital Management now owns 251 shares of the oil and natural gas company's stock worth $50,000 after acquiring an additional 125 shares in the last quarter. Institutional investors and hedge funds own 90.01% of the company's stock.

Diamondback Energy Price Performance

FANG stock traded up $5.88 during midday trading on Monday, reaching $182.48. 1,031,891 shares of the company's stock traded hands, compared to its average volume of 1,749,803. The company has a 50-day simple moving average of $181.16 and a two-hundred day simple moving average of $191.33. Diamondback Energy, Inc. has a 1-year low of $145.70 and a 1-year high of $214.50. The company has a market cap of $53.28 billion, a price-to-earnings ratio of 10.11, a PEG ratio of 1.26 and a beta of 1.89. 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 (NASDAQ:FANG - Get Free Report) last released its earnings results 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 firm had revenue of $2.65 billion during the quarter, compared to analyst estimates of $2.43 billion. During the same period last year, the business posted $5.49 earnings per share. The firm's quarterly revenue was up 13.0% on a year-over-year basis. On average, analysts anticipate that Diamondback Energy, Inc. will post 16.78 earnings per share for the current year.

Diamondback Energy Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, November 21st. Investors of record on Thursday, November 14th will be paid a $0.90 dividend. This represents a $3.60 annualized dividend and a dividend yield of 1.97%. The ex-dividend date is Thursday, November 14th. Diamondback Energy's dividend payout ratio (DPR) is currently 20.61%.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on FANG. Royal Bank of Canada reaffirmed an "outperform" rating and issued a $210.00 target price on shares of Diamondback Energy in a research note on Wednesday, November 6th. Citigroup started coverage on shares of Diamondback Energy in a research note on Monday, October 14th. They issued a "neutral" rating and a $195.00 price target for the company. Barclays upgraded shares of Diamondback Energy from an "equal weight" rating to an "overweight" rating and dropped their target price for the company from $216.00 to $210.00 in a report on Wednesday, October 2nd. Susquehanna lowered their price objective on shares of Diamondback Energy from $237.00 to $233.00 and set a "positive" rating on the stock in a research note on Friday, October 18th. Finally, Benchmark reiterated a "buy" rating and issued a $195.00 price target on shares of Diamondback Energy in a report on Tuesday, October 29th. One analyst has rated the stock with a sell rating, five have assigned a hold rating, seventeen have assigned a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $209.64.

Insiders Place Their Bets

In related news, Director Mark Lawrence Plaumann sold 1,150 shares of the firm's stock in a transaction dated Wednesday, November 13th. The shares were sold at an average price of $181.00, for a total value of $208,150.00. Following the transaction, the director now owns 4,712 shares of the company's stock, valued at approximately $852,872. This trade represents a 19.62 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, major shareholder Lyndal Greth sold 13,212,830 shares of the company's stock in a transaction dated 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 sale, the insider now owns 1,037,819 shares in the company, valued at approximately $181,732,485.09. This represents a 92.72 % 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.

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.