Diamondback Energy, Inc. (NASDAQ:FANG) Shares Purchased by Legacy Capital Wealth Partners LLC

Legacy Capital Wealth Partners LLC lifted its holdings in Diamondback Energy, Inc. (NASDAQ:FANG - Free Report) by 89.7% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 6,373 shares of the oil and natural gas company's stock after acquiring an additional 3,013 shares during the period. Legacy Capital Wealth Partners LLC's holdings in Diamondback Energy were worth $1,099,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. First Community Trust NA bought a new stake in shares of Diamondback Energy during the 2nd quarter worth approximately $26,000. Carolinas Wealth Consulting LLC grew its holdings in shares of Diamondback Energy by 67.1% in the second 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. HHM Wealth Advisors LLC bought a new position in shares of Diamondback Energy in the second quarter worth about $40,000. Values First Advisors Inc. purchased a new position in Diamondback Energy in the 3rd quarter worth about $42,000. Finally, Founders Capital Management lifted its holdings in 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 valued at $50,000 after buying an additional 125 shares in the last quarter. Hedge funds and other institutional investors own 90.01% of the company's stock.

Diamondback Energy Stock Performance

NASDAQ:FANG traded up $0.29 during mid-day trading on Friday, hitting $181.88. The company's stock had a trading volume of 2,579,217 shares, compared to its average volume of 1,845,321. The business's fifty day moving average is $181.77 and its two-hundred day moving average is $192.25. The stock has a market cap of $53.61 billion, a price-to-earnings ratio of 10.41, a PEG ratio of 1.29 and a beta of 1.89. The company has a debt-to-equity ratio of 0.31, a current ratio of 0.45 and a quick ratio of 3.64. Diamondback Energy, Inc. has a 1 year low of $145.70 and a 1 year high of $214.50.

Diamondback Energy (NASDAQ:FANG - Get Free Report) last announced 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). The company had revenue of $2.65 billion during the quarter, compared to analyst estimates of $2.43 billion. Diamondback Energy had a net margin of 33.64% and a return on equity of 13.68%. The company's revenue was up 13.0% compared to the same quarter last year. During the same period in the previous year, the firm posted $5.49 earnings per share. Analysts anticipate that Diamondback Energy, Inc. will post 17.1 EPS 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. Investors of record on Thursday, November 14th will be issued a $0.90 dividend. The ex-dividend date is Thursday, November 14th. This represents a $3.60 dividend on an annualized basis and a yield of 1.98%. Diamondback Energy's payout ratio is 20.61%.

Insiders Place Their Bets

In related news, 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 transaction of $2,313,698,661.30. Following the completion of the transaction, the insider now owns 1,037,819 shares in the company, valued at $181,732,485.09. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 0.48% of the stock is currently owned by company insiders.

Analyst Ratings Changes

A number of analysts recently issued reports on the company. Wells Fargo & Company reiterated a "sector outperform" rating on shares of Diamondback Energy in a report on Friday, October 18th. Morgan Stanley lifted their price objective on Diamondback Energy from $185.00 to $198.00 and gave the company an "overweight" rating in a report on Monday, September 16th. 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. StockNews.com cut shares of Diamondback Energy from a "hold" rating to a "sell" rating in a research report on Tuesday, November 5th. Finally, Piper Sandler lifted their price objective on shares of 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 assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $209.64.

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.