Nations Financial Group Inc. IA ADV Buys 1,697 Shares of Diamondback Energy, Inc. (NASDAQ:FANG)

Nations Financial Group Inc. IA ADV raised its stake in Diamondback Energy, Inc. (NASDAQ:FANG) by 24.8% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 8,540 shares of the oil and natural gas company’s stock after purchasing an additional 1,697 shares during the period. Nations Financial Group Inc. IA ADV’s holdings in Diamondback Energy were worth $1,472,000 as of its most recent SEC filing.

Other hedge funds have also recently made changes to their positions in the company. First Community Trust NA acquired a new position in shares of Diamondback Energy during the second quarter valued at about $26,000. Carolinas Wealth Consulting LLC boosted 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 purchasing an additional 55 shares during the last quarter. HHM Wealth Advisors LLC purchased a new position in Diamondback Energy during the second quarter worth about $40,000. Values First Advisors Inc. purchased a new position in Diamondback Energy during the third quarter worth about $42,000. Finally, Founders Capital Management boosted its holdings in Diamondback Energy by 99.2% during the second 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 currently owned by institutional investors and hedge funds.

Diamondback Energy Price Performance

Shares of Diamondback Energy stock opened at $179.13 on Tuesday. Diamondback Energy, Inc. has a 52-week low of $145.70 and a 52-week high of $214.50. The stock has a market capitalization of $52.80 billion, a price-to-earnings ratio of 10.25, a price-to-earnings-growth ratio of 1.28 and a beta of 1.89. The company has a fifty day moving average of $181.77 and a 200-day moving average of $192.15. The company has a debt-to-equity ratio of 0.31, a quick ratio of 3.64 and a current ratio of 0.45.

Diamondback Energy (NASDAQ:FANG) last announced its quarterly earnings results on Monday, November 4th. The oil and natural gas company reported $3.38 earnings per share 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 analysts’ expectations 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% on a year-over-year basis. During the same period in the previous year, the company earned $5.49 EPS. Equities research analysts expect that Diamondback Energy, Inc. will post 17 EPS for the current year.

Diamondback Energy Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, November 21st. Shareholders of record on Thursday, November 14th will be given a dividend of $0.90 per share. The ex-dividend date of this dividend is Thursday, November 14th. This represents a $3.60 annualized dividend and a yield of 2.01%. Diamondback Energy’s payout ratio is currently 20.61%.

Insiders Place Their Bets

In other Diamondback Energy news, major shareholder Lyndal Greth sold 13,212,830 shares of the company’s stock in a transaction on Monday, September 23rd. The shares were 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 approximately $181,732,485.09. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 0.48% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on the stock. StockNews.com cut shares of Diamondback Energy from a “hold” rating to a “sell” rating in a report on Tuesday, November 5th. Morgan Stanley lifted their price objective on shares of Diamondback Energy from $185.00 to $198.00 and gave the stock an “overweight” rating in a research report on Monday, September 16th. UBS Group lowered their price objective on shares of Diamondback Energy from $247.00 to $223.00 and set a “buy” rating on the stock in a research report on Wednesday, September 18th. Jefferies Financial Group assumed coverage on shares of Diamondback Energy in a research report on Monday, September 16th. They issued a “hold” rating and a $185.00 price objective on the stock. Finally, Wolfe Research assumed coverage on shares of Diamondback Energy in a research report on Thursday, July 18th. They issued a “peer perform” rating on the stock. Two research analysts have rated the stock with a sell rating, four have issued a hold rating, seventeen have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, Diamondback Energy presently has an average rating of “Moderate Buy” and a consensus price target of $209.64.

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.