Klein Pavlis & Peasley Financial Inc. Has $248,000 Stock Position in Diamondback Energy, Inc. $FANG

Klein Pavlis & Peasley Financial Inc. lessened its stake in Diamondback Energy, Inc. (NASDAQ:FANG) by 7.9% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,803 shares of the oil and natural gas company’s stock after selling 155 shares during the quarter. Klein Pavlis & Peasley Financial Inc.’s holdings in Diamondback Energy were worth $248,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors also recently modified their holdings of the company. BankPlus Trust Department acquired a new stake in shares of Diamondback Energy in the first quarter valued at approximately $27,000. Pinnacle Bancorp Inc. increased its stake in shares of Diamondback Energy by 95.7% in the 1st quarter. Pinnacle Bancorp Inc. now owns 180 shares of the oil and natural gas company’s stock valued at $29,000 after buying an additional 88 shares during the period. SouthState Corp raised its position in shares of Diamondback Energy by 596.4% during the first quarter. SouthState Corp now owns 195 shares of the oil and natural gas company’s stock worth $31,000 after acquiring an additional 167 shares during the last quarter. Grove Bank & Trust lifted its stake in shares of Diamondback Energy by 65.0% during the first quarter. Grove Bank & Trust now owns 203 shares of the oil and natural gas company’s stock valued at $32,000 after acquiring an additional 80 shares during the period. Finally, WASHINGTON TRUST Co lifted its stake in shares of Diamondback Energy by 119.8% during the first quarter. WASHINGTON TRUST Co now owns 200 shares of the oil and natural gas company’s stock valued at $32,000 after acquiring an additional 109 shares during the period. 90.01% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several brokerages have weighed in on FANG. Scotiabank reissued an “outperform” rating on shares of Diamondback Energy in a report on Friday, July 11th. William Blair began coverage on shares of Diamondback Energy in a research note on Monday, August 25th. They set an “outperform” rating for the company. KeyCorp cut their price objective on shares of Diamondback Energy from $180.00 to $176.00 and set an “overweight” rating on the stock in a report on Wednesday, September 3rd. Susquehanna lowered their target price on shares of Diamondback Energy from $192.00 to $188.00 and set a “positive” rating for the company in a report on Wednesday, July 23rd. Finally, UBS Group upped their target price on shares of Diamondback Energy from $163.00 to $171.00 and gave the company a “buy” rating in a research report on Wednesday, August 20th. Two analysts have rated the stock with a Strong Buy rating and twenty-one have issued a Buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Buy” and an average target price of $193.39.

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. 0.48% of the stock is currently owned by corporate insiders.

Diamondback Energy Stock Up 1.7%

Shares of NASDAQ:FANG opened at $148.25 on Monday. The company has a 50 day moving average price of $142.75 and a two-hundred day moving average price of $141.78. The company has a debt-to-equity ratio of 0.35, a quick ratio of 0.52 and a current ratio of 0.55. The company has a market capitalization of $42.92 billion, a PE ratio of 10.54 and a beta of 1.15. Diamondback Energy, Inc. has a 52 week low of $114.00 and a 52 week high of $200.47.

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

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.