CreativeOne Wealth LLC Purchases 2,027 Shares of Diamondback Energy, Inc. (NASDAQ:FANG)

CreativeOne Wealth LLC lifted its position in shares of Diamondback Energy, Inc. (NASDAQ:FANG) by 39.2% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 7,194 shares of the oil and natural gas company’s stock after acquiring an additional 2,027 shares during the quarter. CreativeOne Wealth LLC’s holdings in Diamondback Energy were worth $1,240,000 at the end of the most recent reporting period.

Several other large investors have also made changes to their positions in the company. First Community Trust NA bought a new position in Diamondback Energy in the second quarter valued at approximately $26,000. Carolinas Wealth Consulting LLC boosted its position in shares of 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. HHM Wealth Advisors LLC acquired a new stake in shares of Diamondback Energy during the second quarter worth $40,000. Values First Advisors Inc. acquired a new stake in shares of Diamondback Energy during the third quarter worth $42,000. Finally, Founders Capital Management increased its holdings in Diamondback Energy by 99.2% in the second quarter. Founders Capital Management now owns 251 shares of the oil and natural gas company’s stock valued at $50,000 after purchasing an additional 125 shares during the last quarter. Institutional investors and hedge funds own 90.01% of the company’s stock.

Wall Street Analysts Forecast Growth

FANG has been the topic of a number of recent analyst reports. Benchmark restated a “buy” rating and set a $195.00 target price on shares of Diamondback Energy in a report on Tuesday, October 29th. Piper Sandler boosted 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. Johnson Rice downgraded shares of Diamondback Energy from a “strong-buy” rating to a “moderate buy” rating in a research note on Tuesday, September 24th. Citigroup assumed coverage on shares of Diamondback Energy in a research report on Monday, October 14th. They set a “neutral” rating and a $195.00 price target on the stock. Finally, Jefferies Financial Group started coverage on shares of Diamondback Energy in a report on Monday, September 16th. They issued a “hold” rating and a $185.00 price target for the company. One analyst has rated the stock with a sell rating, five have given a hold rating, seventeen have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, Diamondback Energy presently has an average rating of “Moderate Buy” and an average price target of $212.00.

Diamondback Energy Stock Performance

Shares of NASDAQ FANG opened at $177.59 on Friday. The company has a debt-to-equity ratio of 0.31, a quick ratio of 0.42 and a current ratio of 0.45. The stock has a 50 day moving average price of $181.95 and a 200 day moving average price of $189.92. The stock has a market capitalization of $51.85 billion, a PE ratio of 10.17, a price-to-earnings-growth ratio of 1.30 and a beta of 1.89. Diamondback Energy, Inc. has a 52 week low of $145.70 and a 52 week high of $214.50.

Diamondback Energy (NASDAQ:FANG) last released its quarterly earnings data on Monday, November 4th. The oil and natural gas company reported $3.38 EPS for the quarter, missing the consensus estimate 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 quarterly revenue was up 13.0% compared to the same quarter last year. During the same period in the previous year, the company posted $5.49 EPS. Analysts predict that Diamondback Energy, Inc. will post 16.26 earnings per share for the current fiscal year.

Diamondback Energy Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, November 21st. Stockholders of record on Thursday, November 14th were paid a dividend of $0.90 per share. The ex-dividend date was Thursday, November 14th. This represents a $3.60 annualized dividend and a dividend yield of 2.03%. Diamondback Energy’s dividend payout ratio is presently 20.61%.

Insider Activity

In other Diamondback Energy news, major shareholder Lyndal Greth sold 13,212,830 shares of Diamondback Energy stock in a transaction 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 92.72 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Mark Lawrence Plaumann sold 1,150 shares of the company’s stock in a transaction 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 completion of the transaction, the director now owns 4,712 shares in the company, valued at approximately $852,872. This represents a 19.62 % 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.

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.