Safe Harbor Fiduciary LLC Acquires New Holdings in Diamondback Energy, Inc. (NASDAQ:FANG)

Safe Harbor Fiduciary LLC acquired a new stake in shares of Diamondback Energy, Inc. (NASDAQ:FANG) during the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 490 shares of the oil and natural gas company’s stock, valued at approximately $84,000.

A number of other hedge funds and other institutional investors have also modified their holdings of FANG. First Community Trust NA bought a new stake in shares of Diamondback Energy during the second quarter valued at about $26,000. Carolinas Wealth Consulting LLC raised its position 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 acquiring an additional 55 shares in the last quarter. HHM Wealth Advisors LLC bought a new stake in Diamondback Energy in the second quarter worth about $40,000. Values First Advisors Inc. bought a new stake in Diamondback Energy in the third quarter worth about $42,000. Finally, CVA Family Office LLC raised its position in Diamondback Energy by 28.1% in the third quarter. CVA Family Office LLC now owns 296 shares of the oil and natural gas company’s stock worth $51,000 after acquiring an additional 65 shares in the last quarter. 90.01% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several brokerages have commented on FANG. StockNews.com upgraded shares of Diamondback Energy from a “sell” rating to a “hold” rating in a research report on Wednesday, November 13th. Wells Fargo & Company restated a “sector outperform” rating on shares of Diamondback Energy in a report on Friday, October 18th. The Goldman Sachs Group initiated coverage on Diamondback Energy in a report on Monday. They set a “buy” rating and a $227.00 price objective on the stock. Barclays raised Diamondback Energy from an “equal weight” rating to an “overweight” rating and lowered their price target for the company from $216.00 to $210.00 in a research note on Wednesday, October 2nd. Finally, Truist Financial boosted their price target on Diamondback Energy from $220.00 to $230.00 and gave the company a “buy” rating in a research note on Wednesday, October 16th. One analyst has rated the stock with a sell rating, five have issued a hold rating, seventeen have given a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, Diamondback Energy has a consensus rating of “Moderate Buy” and an average price target of $212.65.

Diamondback Energy Stock Down 2.7 %

Shares of FANG stock opened at $170.99 on Thursday. The stock has a market cap of $49.93 billion, a P/E ratio of 9.79, a price-to-earnings-growth ratio of 1.30 and a beta of 1.88. Diamondback Energy, Inc. has a one year low of $145.70 and a one year high of $214.50. The stock has a fifty day moving average price of $181.38 and a 200 day moving average price of $189.40. The company has a debt-to-equity ratio of 0.31, a current ratio of 0.45 and a quick ratio of 0.42.

Diamondback Energy (NASDAQ:FANG) last announced its earnings results 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 net margin of 33.64% and a return on equity of 13.68%. 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 business posted $5.49 earnings per share. The business’s quarterly revenue was up 13.0% compared to the same quarter last year. Analysts predict that Diamondback Energy, Inc. will post 16.26 earnings per share for the current year.

Diamondback Energy Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, November 21st. Investors of record on Thursday, November 14th were given a $0.90 dividend. The ex-dividend date of this dividend was Thursday, November 14th. This represents a $3.60 dividend on an annualized basis and a yield of 2.11%. Diamondback Energy’s payout ratio is 20.61%.

Insider Buying and Selling

In other Diamondback Energy news, Director Mark Lawrence Plaumann sold 1,150 shares of the firm’s stock in a transaction dated Wednesday, November 13th. The stock was sold at an average price of $181.00, for a total transaction of $208,150.00. Following the transaction, the director now owns 4,712 shares in the company, valued at approximately $852,872. This trade 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 the firm’s 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 transaction, the insider now owns 1,037,819 shares in the company, valued at approximately $181,732,485.09. This trade represents a 92.72 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.48% of the company’s stock.

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.