27,149 Shares in Diamondback Energy, Inc. (NASDAQ:FANG) Bought by Soltis Investment Advisors LLC

Soltis Investment Advisors LLC bought a new position in shares of Diamondback Energy, Inc. (NASDAQ:FANG - Free Report) during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 27,149 shares of the oil and natural gas company's stock, valued at approximately $4,680,000.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Carolinas Wealth Consulting LLC boosted its stake in shares of 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 acquiring an additional 55 shares in the last quarter. Financial Advocates Investment Management increased its stake in Diamondback Energy by 3.0% in the 3rd quarter. Financial Advocates Investment Management now owns 1,907 shares of the oil and natural gas company's stock worth $329,000 after purchasing an additional 55 shares in the last quarter. Center For Asset Management LLC raised its holdings in Diamondback Energy by 3.3% during the 2nd quarter. Center For Asset Management LLC now owns 1,859 shares of the oil and natural gas company's stock worth $372,000 after buying an additional 60 shares during the period. Brighton Jones LLC raised its holdings in Diamondback Energy by 0.8% during the 2nd quarter. Brighton Jones LLC now owns 7,821 shares of the oil and natural gas company's stock worth $1,566,000 after buying an additional 60 shares during the period. Finally, Greenup Street Wealth Management LLC lifted its stake in Diamondback Energy by 3.4% during the third quarter. Greenup Street Wealth Management LLC now owns 1,817 shares of the oil and natural gas company's stock valued at $313,000 after buying an additional 60 shares in the last quarter. 90.01% of the stock is currently owned by institutional investors.

Diamondback Energy Stock Performance

Diamondback Energy stock traded up $0.75 during trading hours on Wednesday, reaching $163.90. 2,662,337 shares of the company were exchanged, compared to its average volume of 1,775,934. Diamondback Energy, Inc. has a 12 month low of $146.82 and a 12 month high of $214.50. The company has a current ratio of 0.45, a quick ratio of 0.42 and a debt-to-equity ratio of 0.31. The stock has a 50-day moving average of $180.99 and a 200 day moving average of $188.60. The firm has a market cap of $47.86 billion, a price-to-earnings ratio of 9.39, a PEG ratio of 1.23 and a beta of 1.88.

Diamondback Energy (NASDAQ:FANG - Get Free Report) last posted its quarterly earnings data on Monday, November 4th. The oil and natural gas company reported $3.38 earnings per share (EPS) for the quarter, missing the consensus estimate of $4.62 by ($1.24). The firm had revenue of $2.65 billion for the quarter, compared to the consensus estimate of $2.43 billion. Diamondback Energy had a return on equity of 13.68% and a net margin of 33.64%. Diamondback Energy's quarterly revenue was up 13.0% on a year-over-year basis. During the same period in the prior year, the company posted $5.49 earnings per share. As a group, research analysts anticipate that Diamondback Energy, Inc. will post 16.26 earnings per share for the current year.

Diamondback Energy Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, November 21st. Stockholders of record on Thursday, November 14th were paid a $0.90 dividend. The ex-dividend date was Thursday, November 14th. This represents a $3.60 dividend on an annualized basis and a dividend yield of 2.20%. Diamondback Energy's payout ratio is presently 20.61%.

Wall Street Analysts Forecast Growth

FANG has been the topic of a number of recent analyst reports. Truist Financial boosted their price target on shares of Diamondback Energy from $220.00 to $230.00 and gave the company a "buy" rating in a report on Wednesday, October 16th. Royal Bank of Canada restated an "outperform" rating and issued a $210.00 target price on shares of Diamondback Energy in a report on Wednesday, November 6th. Raymond James lifted their price target on Diamondback Energy from $232.00 to $237.00 and gave the company a "strong-buy" rating in a report on Tuesday, November 19th. The Goldman Sachs Group began coverage on Diamondback Energy in a research report on Monday, December 2nd. They set a "buy" rating and a $227.00 price target on the stock. Finally, KeyCorp decreased their price objective on Diamondback Energy from $225.00 to $216.00 and set an "overweight" rating for the company in a research report on Wednesday, October 16th. One investment analyst has rated the stock with a sell rating, five have given a hold rating, seventeen have given a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $212.17.

Insider Buying and Selling

In other news, Director Mark Lawrence Plaumann sold 1,150 shares of the company's stock in a transaction dated Wednesday, November 13th. The shares were sold at an average price of $181.00, for a total transaction of $208,150.00. Following the completion of the transaction, the director now owns 4,712 shares of the company's stock, valued at approximately $852,872. This represents a 19.62 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, major shareholder Lyndal Greth sold 13,212,830 shares of Diamondback Energy stock in a transaction dated Monday, September 23rd. The stock was sold at an average price of $175.11, for a total value of $2,313,698,661.30. Following the sale, the insider now directly owns 1,037,819 shares in the company, valued at approximately $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. 0.48% of the stock is owned by 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.