Phillips Wealth Planners LLC Sells 338 Shares of Diamondback Energy, Inc. (NASDAQ:FANG)

Phillips Wealth Planners LLC decreased its holdings in Diamondback Energy, Inc. (NASDAQ:FANG) by 17.7% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 1,573 shares of the oil and natural gas company’s stock after selling 338 shares during the quarter. Phillips Wealth Planners LLC’s holdings in Diamondback Energy were worth $287,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently bought and sold shares of the company. First Community Trust NA acquired a new position in Diamondback Energy during the 2nd quarter worth about $26,000. Carolinas Wealth Consulting LLC grew its stake in shares of Diamondback Energy by 67.1% during the second quarter. Carolinas Wealth Consulting LLC now owns 137 shares of the oil and natural gas company’s stock valued at $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 in the second quarter valued at approximately $40,000. Values First Advisors Inc. bought a new position in Diamondback Energy in the 3rd quarter worth approximately $42,000. Finally, Founders Capital Management boosted its position in Diamondback Energy by 99.2% in 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 during the last quarter. Institutional investors and hedge funds own 90.01% of the company’s stock.

Diamondback Energy Stock Down 0.5 %

Shares of Diamondback Energy stock opened at $175.81 on Friday. The firm has a market cap of $51.82 billion, a PE ratio of 9.09, a P/E/G ratio of 1.23 and a beta of 1.89. The business’s 50 day simple moving average is $183.29 and its 200 day simple moving average is $193.06. The company has a debt-to-equity ratio of 0.65, a quick ratio of 3.64 and a current ratio of 3.66. Diamondback Energy, Inc. has a 52-week low of $145.70 and a 52-week high of $214.50.

Diamondback Energy (NASDAQ:FANG) last announced its quarterly earnings data on Monday, August 5th. The oil and natural gas company reported $4.52 EPS for the quarter, topping analysts’ consensus estimates of $4.51 by $0.01. Diamondback Energy had a net margin of 37.51% and a return on equity of 19.54%. The business had revenue of $2.48 billion for the quarter, compared to analyst estimates of $2.19 billion. During the same quarter in the previous year, the firm posted $3.68 earnings per share. The firm’s revenue for the quarter was up 29.4% on a year-over-year basis. On average, analysts predict that Diamondback Energy, Inc. will post 17.21 earnings per share for the current fiscal year.

Diamondback Energy Increases Dividend

The business also recently disclosed a None dividend, which was paid on Thursday, August 22nd. Stockholders of record on Thursday, August 15th were issued a $2.34 dividend. This is a boost from Diamondback Energy’s previous None dividend of $2.26. The ex-dividend date of this dividend was Thursday, August 15th. This represents a dividend yield of 1.9%. Diamondback Energy’s dividend payout ratio (DPR) is presently 18.60%.

Analyst Ratings Changes

A number of research firms have recently weighed in on FANG. Evercore ISI dropped their target price on Diamondback Energy from $235.00 to $209.00 and set an “outperform” rating for the company in a research report on Monday, September 30th. KeyCorp dropped their price objective on Diamondback Energy from $225.00 to $216.00 and set an “overweight” rating for the company in a report on Wednesday, October 16th. Benchmark reaffirmed a “buy” rating and issued a $195.00 target price on shares of Diamondback Energy in a research note on Tuesday. Barclays raised shares of Diamondback Energy from an “equal weight” rating to an “overweight” rating and dropped their price target for the stock from $216.00 to $210.00 in a research note on Wednesday, October 2nd. Finally, BMO Capital Markets raised shares of Diamondback Energy from a “market perform” rating to an “outperform” rating and raised their price objective for the company from $205.00 to $215.00 in a research note on Friday, October 4th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating, seventeen have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, Diamondback Energy has a consensus rating of “Moderate Buy” and an average target price of $210.09.

Insider Buying and Selling

In other Diamondback Energy news, major shareholder Lyndal Greth sold 13,212,830 shares of the firm’s stock in a transaction that occurred on 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 completion of the transaction, the insider now directly owns 1,037,819 shares in the company, valued at $181,732,485.09. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.48% of the stock is currently owned by corporate 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.