Signal Advisors Wealth LLC Has $2.76 Million Holdings in Diamondback Energy, Inc. (NASDAQ:FANG)

Signal Advisors Wealth LLC increased its position in Diamondback Energy, Inc. (NASDAQ:FANG - Free Report) by 78.6% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 16,839 shares of the oil and natural gas company's stock after buying an additional 7,412 shares during the period. Signal Advisors Wealth LLC's holdings in Diamondback Energy were worth $2,759,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in FANG. Carolinas Wealth Consulting LLC lifted its holdings in Diamondback Energy by 67.1% in the 2nd quarter. Carolinas Wealth Consulting LLC now owns 137 shares of the oil and natural gas company's stock worth $27,000 after purchasing an additional 55 shares during the last quarter. Values First Advisors Inc. acquired a new stake in shares of Diamondback Energy in the third quarter worth $42,000. CVA Family Office LLC boosted its holdings in shares of Diamondback Energy by 28.1% during the 3rd quarter. CVA Family Office LLC now owns 296 shares of the oil and natural gas company's stock worth $51,000 after buying an additional 65 shares during the period. Oliver Lagore Vanvalin Investment Group grew its stake in Diamondback Energy by 109.7% in the 2nd quarter. Oliver Lagore Vanvalin Investment Group now owns 260 shares of the oil and natural gas company's stock valued at $52,000 after buying an additional 136 shares during the last quarter. Finally, Ashton Thomas Securities LLC bought a new position in Diamondback Energy in the 3rd quarter worth $52,000. Institutional investors own 90.01% of the company's stock.

Insider Activity

In other 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 document filed with the Securities & Exchange Commission, which is available through this hyperlink. 0.48% of the stock is owned by insiders.

Wall Street Analyst Weigh In

FANG has been the topic of several research analyst reports. Evercore ISI lowered their price target on Diamondback Energy from $235.00 to $209.00 and set an "outperform" rating on the stock in a research report on Monday, September 30th. KeyCorp dropped their price target on Diamondback Energy from $225.00 to $216.00 and set an "overweight" rating on the stock in a research report on Wednesday, October 16th. Wells Fargo & Company raised their price objective on shares of Diamondback Energy from $218.00 to $219.00 and gave the stock an "overweight" rating in a research note on Tuesday, December 17th. Mizuho cut their target price on shares of Diamondback Energy from $219.00 to $207.00 and set an "outperform" rating for the company in a research note on Monday, December 16th. Finally, Jefferies Financial Group initiated coverage on shares of Diamondback Energy in a report on Monday, September 16th. They set a "hold" rating and a $185.00 price objective on the stock. One research analyst has rated the stock with a sell rating, four have given a hold rating, eighteen have issued a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price of $210.08.

Diamondback Energy Price Performance

FANG stock traded up $0.07 during midday trading on Tuesday, reaching $177.68. 1,733,213 shares of the company's stock traded hands, compared to its average volume of 2,152,126. 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 company has a market cap of $51.88 billion, a price-to-earnings ratio of 10.17, a PEG ratio of 1.19 and a beta of 1.88. The company has a 50-day simple moving average of $170.72 and a two-hundred day simple moving average of $183.62. Diamondback Energy, Inc. has a 1-year low of $147.93 and a 1-year high of $214.50.

Diamondback Energy (NASDAQ:FANG - Get Free Report) last released its quarterly earnings results 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 period in the prior year, the firm earned $5.49 earnings per share. The business's quarterly revenue was up 13.0% compared to the same quarter last year. On average, analysts anticipate that Diamondback Energy, Inc. will post 16.51 earnings per share for the current year.

Diamondback Energy Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, November 21st. Stockholders of record on Thursday, November 14th were given a dividend of $0.90 per share. The ex-dividend date of this dividend was Thursday, November 14th. This represents a $3.60 dividend on an annualized basis and a dividend yield of 2.03%. 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.