MBE Wealth Management LLC Buys 429 Shares of Diamondback Energy, Inc. $FANG

MBE Wealth Management LLC lifted its stake in Diamondback Energy, Inc. (NASDAQ:FANG) by 22.9% in the 2nd quarter, Holdings Channel reports. The institutional investor owned 2,299 shares of the oil and natural gas company’s stock after acquiring an additional 429 shares during the period. MBE Wealth Management LLC’s holdings in Diamondback Energy were worth $316,000 as of its most recent filing with the SEC.

A number of other institutional investors have also added to or reduced their stakes in the company. Toronto Dominion Bank increased its position in shares of Diamondback Energy by 3.9% during the fourth quarter. Toronto Dominion Bank now owns 66,346 shares of the oil and natural gas company’s stock valued at $10,869,000 after purchasing an additional 2,468 shares during the period. Jefferies Financial Group Inc. increased its holdings in Diamondback Energy by 412.1% in the 4th quarter. Jefferies Financial Group Inc. now owns 7,799 shares of the oil and natural gas company’s stock valued at $1,278,000 after buying an additional 6,276 shares during the period. Universal Beteiligungs und Servicegesellschaft mbH bought a new stake in Diamondback Energy in the 4th quarter valued at $14,682,000. Wood Tarver Financial Group LLC acquired a new position in shares of Diamondback Energy in the 4th quarter valued at $38,000. Finally, Centaurus Financial Inc. lifted its stake in Diamondback Energy by 31.2% during the fourth quarter. Centaurus Financial Inc. now owns 8,964 shares of the oil and natural gas company’s stock worth $1,469,000 after purchasing an additional 2,134 shares during the period. 90.01% of the stock is owned by institutional investors and hedge funds.

Diamondback Energy Stock Up 0.8%

Shares of Diamondback Energy stock opened at $145.79 on Friday. The business has a fifty day simple moving average of $142.61 and a 200 day simple moving average of $141.82. The stock has a market cap of $42.20 billion, a PE ratio of 10.36 and a beta of 1.14. The company has a quick ratio of 0.52, a current ratio of 0.55 and a debt-to-equity ratio of 0.35. Diamondback Energy, Inc. has a 12 month low of $114.00 and a 12 month high of $200.47.

Diamondback Energy (NASDAQ:FANG) last issued its quarterly earnings data on Monday, August 4th. The oil and natural gas company reported $2.67 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.72 by ($0.05). Diamondback Energy had a net margin of 27.25% and a return on equity of 9.48%. The firm had revenue of $3.68 billion for the quarter, compared to analyst estimates of $3.35 billion. During the same quarter in the prior year, the firm posted $4.52 EPS. The firm’s revenue for the quarter was up 48.1% compared to the same quarter last year. Research analysts predict that Diamondback Energy, Inc. will post 15.49 EPS for the current year.

Diamondback Energy Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, August 21st. Shareholders of record on Thursday, August 14th were issued a $1.00 dividend. This represents a $4.00 annualized dividend and a dividend yield of 2.7%. The ex-dividend date was Thursday, August 14th. Diamondback Energy’s dividend payout ratio is 28.43%.

Insider Activity at Diamondback Energy

In other news, Chairman Travis D. Stice sold 20,400 shares of Diamondback Energy stock in a transaction dated Thursday, August 7th. The stock was sold at an average price of $142.80, for a total transaction of $2,913,120.00. Following the transaction, the chairman owned 102,145 shares in the company, valued at $14,586,306. The trade was a 16.65% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.70% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

FANG has been the topic of several recent analyst reports. Morgan Stanley boosted their target price on shares of Diamondback Energy from $184.00 to $186.00 and gave the company an “overweight” rating in a research note on Monday, August 18th. Melius initiated coverage on shares of Diamondback Energy in a research note on Wednesday, August 20th. They set a “buy” rating and a $213.00 price objective on the stock. Mizuho decreased their price target on Diamondback Energy from $183.00 to $176.00 and set an “outperform” rating on the stock in a research report on Monday, September 15th. Scotiabank restated an “outperform” rating on shares of Diamondback Energy in a research note on Friday, July 11th. Finally, KeyCorp cut their price target on Diamondback Energy from $180.00 to $176.00 and set an “overweight” rating for the company in a report on Wednesday, September 3rd. Two research analysts have rated the stock with a Strong Buy rating and twenty-one have assigned a Buy rating to the stock. According to data from MarketBeat, Diamondback Energy has a consensus rating of “Buy” and a consensus price target of $193.39.

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.