Stratos Wealth Partners LTD. Lowers Stock Holdings in Diamondback Energy, Inc. (NASDAQ:FANG)

Stratos Wealth Partners LTD. reduced its position in Diamondback Energy, Inc. (NASDAQ:FANG) by 1.3% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 22,582 shares of the oil and natural gas company’s stock after selling 293 shares during the quarter. Stratos Wealth Partners LTD.’s holdings in Diamondback Energy were worth $3,700,000 at the end of the most recent quarter.

Several other institutional investors have also recently modified their holdings of the company. R Squared Ltd bought a new position in Diamondback Energy during the fourth quarter valued at approximately $29,000. UMB Bank n.a. boosted its stake in shares of Diamondback Energy by 247.3% in the 4th quarter. UMB Bank n.a. now owns 191 shares of the oil and natural gas company’s stock valued at $31,000 after purchasing an additional 136 shares in the last quarter. Values First Advisors Inc. bought a new position in shares of Diamondback Energy during the 3rd quarter valued at $42,000. CVA Family Office LLC lifted its stake 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 purchasing an additional 65 shares during the last quarter. Finally, Ashton Thomas Securities LLC purchased a new stake in Diamondback Energy during the third quarter valued at about $52,000. 90.01% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

FANG has been the subject of a number of recent research reports. Susquehanna lowered their target price on Diamondback Energy from $237.00 to $233.00 and set a “positive” rating for the company in a research note on Friday, October 18th. Citigroup began coverage on Diamondback Energy in a research note on Monday, October 14th. They set a “neutral” rating and a $195.00 price objective for the company. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $210.00 target price on shares of Diamondback Energy in a research note on Thursday, January 23rd. JPMorgan Chase & Co. increased their price target on shares of Diamondback Energy from $191.00 to $195.00 and gave the company an “overweight” rating in a research report on Friday, January 17th. Finally, UBS Group decreased their price objective on shares of Diamondback Energy from $235.00 to $212.00 and set a “buy” rating on the stock in a research report on Monday, December 9th. Four research analysts have rated the stock with a hold rating, eighteen have given a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $215.00.

Diamondback Energy Price Performance

Shares of FANG opened at $160.03 on Friday. The company has a market capitalization of $46.73 billion, a P/E ratio of 9.16, a P/E/G ratio of 1.28 and a beta of 1.86. The business’s 50-day moving average is $168.25 and its two-hundred day moving average is $179.89. The company has a debt-to-equity ratio of 0.31, a quick ratio of 0.42 and a current ratio of 0.45. Diamondback Energy, Inc. has a fifty-two week low of $150.71 and a fifty-two week high of $214.50.

Diamondback Energy (NASDAQ:FANG) last posted 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). The firm 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 business’s revenue for the quarter was up 13.0% on a year-over-year basis. During the same quarter in the prior year, the firm earned $5.49 earnings per share. Research analysts predict that Diamondback Energy, Inc. will post 15.5 earnings per share for the current year.

Diamondback Energy Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, November 21st. Stockholders of record on Thursday, November 14th were given a $0.90 dividend. The ex-dividend date was Thursday, November 14th. This represents a $3.60 annualized dividend and a dividend yield of 2.25%. Diamondback Energy’s dividend payout ratio (DPR) is presently 20.61%.

Insider Transactions at Diamondback Energy

In related news, Director Mark Lawrence Plaumann sold 1,150 shares of Diamondback Energy stock in a transaction that occurred on 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 SEC, which can be accessed through this link. Corporate insiders own 0.48% of the company’s stock.

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.