Moran Wealth Management LLC Sells 3,564 Shares of Diamondback Energy, Inc. (NASDAQ:FANG)

Moran Wealth Management LLC trimmed its holdings in shares of Diamondback Energy, Inc. (NASDAQ:FANG - Free Report) by 12.2% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 25,764 shares of the oil and natural gas company's stock after selling 3,564 shares during the period. Moran Wealth Management LLC's holdings in Diamondback Energy were worth $4,442,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also modified their holdings of FANG. First Community Trust NA acquired a new stake in Diamondback Energy in the second quarter worth $26,000. Carolinas Wealth Consulting LLC raised its holdings in 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 period. HHM Wealth Advisors LLC acquired a new stake in Diamondback Energy in the second quarter worth $40,000. Values First Advisors Inc. acquired a new stake in Diamondback Energy in the third 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. 90.01% of the stock is owned by institutional investors.

Insider Buying and Selling at Diamondback Energy

In related news, Director Mark Lawrence Plaumann sold 1,150 shares of Diamondback Energy stock in a transaction that occurred on Wednesday, November 13th. The shares were sold at an average price of $181.00, for a total transaction of $208,150.00. Following the sale, the director now directly owns 4,712 shares of the company's stock, valued at approximately $852,872. The trade was a 19.62 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, 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 sale, the insider now directly owns 1,037,819 shares in the company, valued at $181,732,485.09. This trade represents a 92.72 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.48% of the company's stock.

Diamondback Energy Stock Performance

Diamondback Energy stock traded up $2.99 during midday trading on Thursday, hitting $184.45. The company's stock had a trading volume of 380,875 shares, compared to its average volume of 1,746,832. Diamondback Energy, Inc. has a 1-year low of $145.70 and a 1-year high of $214.50. The company has a debt-to-equity ratio of 0.31, a current ratio of 0.45 and a quick ratio of 0.42. The company has a 50-day moving average price of $181.65 and a two-hundred day moving average price of $191.00. The company has a market cap of $53.86 billion, a price-to-earnings ratio of 10.39, a PEG ratio of 1.32 and a beta of 1.89.

Diamondback Energy (NASDAQ:FANG - Get Free Report) last issued its quarterly earnings data on Monday, November 4th. The oil and natural gas company reported $3.38 earnings per share for the quarter, missing the consensus estimate 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 last year, the firm earned $5.49 EPS. Diamondback Energy's revenue for the quarter was up 13.0% compared to the same quarter last year. As a group, sell-side analysts predict that Diamondback Energy, Inc. will post 16.37 earnings per share for the current year.

Diamondback Energy Announces Dividend

The company also recently announced 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 annualized dividend and a yield of 1.95%. The ex-dividend date of this dividend is Thursday, November 14th. Diamondback Energy's dividend payout ratio is currently 20.61%.

Wall Street Analyst Weigh In

FANG has been the subject of several research reports. Piper Sandler increased their price objective on shares of Diamondback Energy from $240.00 to $252.00 and gave the stock an "overweight" rating in a research report on Tuesday, October 15th. Scotiabank lowered their price objective on shares of Diamondback Energy from $245.00 to $225.00 and set a "sector outperform" rating for the company in a research report on Thursday, October 10th. Benchmark reissued a "buy" rating and set a $195.00 price objective on shares of Diamondback Energy in a research report on Tuesday, October 29th. Johnson Rice downgraded shares of Diamondback Energy from a "strong-buy" rating to a "moderate buy" rating in a research report on Tuesday, September 24th. Finally, Barclays raised shares of Diamondback Energy from an "equal weight" rating to an "overweight" rating and decreased their target price for the company from $216.00 to $210.00 in a research report on Wednesday, October 2nd. One investment 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. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $212.00.

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.