GDS Wealth Management Raises Stock Position in Diamondback Energy, Inc. (NASDAQ:FANG)

GDS Wealth Management grew its position in Diamondback Energy, Inc. (NASDAQ:FANG - Free Report) by 3.5% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 98,164 shares of the oil and natural gas company's stock after acquiring an additional 3,360 shares during the quarter. Diamondback Energy comprises about 1.6% of GDS Wealth Management's portfolio, making the stock its 21st largest position. GDS Wealth Management's holdings in Diamondback Energy were worth $16,923,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Norden Group LLC bought a new stake in Diamondback Energy in the first quarter worth about $237,000. Envestnet Portfolio Solutions Inc. grew its position in Diamondback Energy by 25.5% in the 1st quarter. Envestnet Portfolio Solutions Inc. now owns 8,419 shares of the oil and natural gas company's stock valued at $1,668,000 after acquiring an additional 1,709 shares during the last quarter. Atomi Financial Group Inc. purchased a new stake in Diamondback Energy in the first quarter worth $303,000. Concurrent Investment Advisors LLC lifted its position in shares of Diamondback Energy by 18.6% during the first quarter. Concurrent Investment Advisors LLC now owns 2,135 shares of the oil and natural gas company's stock worth $423,000 after purchasing an additional 335 shares during the last quarter. Finally, NorthRock Partners LLC boosted its stake in shares of Diamondback Energy by 94.8% during the first quarter. NorthRock Partners LLC now owns 3,637 shares of the oil and natural gas company's stock valued at $721,000 after purchasing an additional 1,770 shares during the period. Institutional investors own 90.01% of the company's stock.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on the stock. Royal Bank of Canada reissued an "outperform" rating and issued a $210.00 price objective on shares of Diamondback Energy in a research report on Wednesday, November 6th. Wells Fargo & Company restated a "sector outperform" rating on shares of Diamondback Energy in a report on Friday, October 18th. KeyCorp lowered their target price on Diamondback Energy from $225.00 to $216.00 and set an "overweight" rating for the company in a report on Wednesday, October 16th. StockNews.com lowered Diamondback Energy from a "hold" rating to a "sell" rating in a research note on Tuesday, November 5th. Finally, Scotiabank cut their target price 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. Two research analysts have rated the stock with a sell rating, four have issued a hold rating, seventeen have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $209.64.

Diamondback Energy Stock Performance

FANG traded down $1.70 on Monday, reaching $180.18. 1,197,718 shares of the stock were exchanged, compared to its average volume of 1,746,887. The company has a debt-to-equity ratio of 0.31, a current ratio of 0.45 and a quick ratio of 3.64. The company's 50-day moving average price is $181.77 and its 200 day moving average price is $192.15. The firm has a market capitalization of $53.11 billion, a PE ratio of 10.41, a PEG ratio of 1.28 and a beta of 1.89. 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 released its quarterly earnings data on Monday, November 4th. The oil and natural gas company reported $3.38 earnings per share 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 business had revenue of $2.65 billion during the quarter, compared to analyst estimates of $2.43 billion. During the same quarter in the previous year, the company earned $5.49 EPS. The firm's revenue was up 13.0% compared to the same quarter last year. As a group, sell-side analysts forecast that Diamondback Energy, Inc. will post 17 EPS for the current fiscal year.

Diamondback Energy Dividend Announcement

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

Insider Buying and Selling at Diamondback Energy

In other news, major shareholder Lyndal Greth sold 13,212,830 shares of Diamondback Energy 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 completion of the transaction, the insider now directly owns 1,037,819 shares of the company's stock, valued at $181,732,485.09. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 0.48% of the stock is currently 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.