Legacy Capital Wealth Partners LLC Purchases 3,013 Shares of Diamondback Energy, Inc. (NASDAQ:FANG)

Legacy Capital Wealth Partners LLC increased its holdings in Diamondback Energy, Inc. (NASDAQ:FANG) by 89.7% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 6,373 shares of the oil and natural gas company’s stock after acquiring an additional 3,013 shares during the period. Legacy Capital Wealth Partners LLC’s holdings in Diamondback Energy were worth $1,099,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of FANG. First Community Trust NA bought a new position in Diamondback Energy in the 2nd quarter valued at $26,000. Carolinas Wealth Consulting LLC increased its holdings in 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 worth $27,000 after buying an additional 55 shares during 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 position in shares of Diamondback Energy during the 3rd quarter valued at approximately $42,000. Finally, Founders Capital Management increased its stake in shares of Diamondback Energy by 99.2% during the 2nd quarter. Founders Capital Management now owns 251 shares of the oil and natural gas company’s stock worth $50,000 after purchasing an additional 125 shares during the last quarter. 90.01% of the stock is owned by institutional investors.

Insider Activity at Diamondback Energy

In other news, major shareholder Lyndal Greth sold 13,212,830 shares of the business’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 transaction of $2,313,698,661.30. Following the transaction, the insider now directly owns 1,037,819 shares of the company’s stock, valued at approximately $181,732,485.09. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.48% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on the company. Bank of America increased their price objective on Diamondback Energy from $201.00 to $215.00 and gave the company a “neutral” rating in a report on Tuesday, July 23rd. Wells Fargo & Company restated a “sector outperform” rating on shares of Diamondback Energy in a research note on Friday, October 18th. Barclays upgraded shares of Diamondback Energy from an “equal weight” rating to an “overweight” rating and cut their target price for the stock from $216.00 to $210.00 in a research report on Wednesday, October 2nd. KeyCorp dropped their price target on shares of Diamondback Energy from $225.00 to $216.00 and set an “overweight” rating on the stock in a research note on Wednesday, October 16th. Finally, StockNews.com lowered shares of Diamondback Energy from a “hold” rating to a “sell” rating in a research note on Tuesday, November 5th. Two equities research analysts have rated the stock with a sell rating, four have given a hold rating, seventeen have issued a buy rating and one has given 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 $209.64.

Diamondback Energy Price Performance

FANG opened at $181.88 on Friday. The company has a debt-to-equity ratio of 0.31, a current ratio of 0.45 and a quick ratio of 3.64. The stock’s 50 day simple moving average is $181.77 and its 200 day simple moving average is $192.33. The firm has a market cap of $53.61 billion, a price-to-earnings ratio of 10.41, a PEG ratio of 1.29 and a beta of 1.89. Diamondback Energy, Inc. has a 1 year low of $145.70 and a 1 year high of $214.50.

Diamondback Energy (NASDAQ:FANG) last issued its earnings results 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). Diamondback Energy had a return on equity of 13.68% and a net margin of 33.64%. The firm had revenue of $2.65 billion during the quarter, compared to the consensus estimate of $2.43 billion. During the same quarter in the prior year, the business posted $5.49 EPS. The firm’s revenue for the quarter was up 13.0% on a year-over-year basis. As a group, analysts predict that Diamondback Energy, Inc. will post 17.1 earnings per share for the current year.

Diamondback Energy Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, November 21st. Stockholders of record on Thursday, November 14th will be issued a dividend of $0.90 per share. The ex-dividend date is Thursday, November 14th. This represents a $3.60 dividend on an annualized basis and a dividend yield of 1.98%. Diamondback Energy’s dividend payout ratio is currently 20.61%.

Diamondback Energy 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.