Tyche Wealth Partners LLC Sells 383 Shares of Diamondback Energy, Inc. $FANG

Tyche Wealth Partners LLC trimmed its position in Diamondback Energy, Inc. (NASDAQ:FANG) by 6.1% in the second quarter, according to its most recent filing with the SEC. The fund owned 5,897 shares of the oil and natural gas company’s stock after selling 383 shares during the period. Tyche Wealth Partners LLC’s holdings in Diamondback Energy were worth $810,000 as of its most recent filing with the SEC.

Other hedge funds also recently modified their holdings of the company. Robeco Institutional Asset Management B.V. increased its holdings in Diamondback Energy by 4.0% in the 1st quarter. Robeco Institutional Asset Management B.V. now owns 36,177 shares of the oil and natural gas company’s stock worth $5,784,000 after purchasing an additional 1,384 shares in the last quarter. Oppenheimer Asset Management Inc. grew its holdings in shares of Diamondback Energy by 6.3% during the first quarter. Oppenheimer Asset Management Inc. now owns 58,853 shares of the oil and natural gas company’s stock worth $9,409,000 after purchasing an additional 3,467 shares during the last quarter. China Universal Asset Management Co. Ltd. increased its stake in shares of Diamondback Energy by 50.4% in the first quarter. China Universal Asset Management Co. Ltd. now owns 7,149 shares of the oil and natural gas company’s stock valued at $1,143,000 after buying an additional 2,397 shares during the period. True North Advisors LLC acquired a new position in shares of Diamondback Energy in the first quarter valued at approximately $327,000. Finally, Wealth Advisory Solutions LLC bought a new position in Diamondback Energy in the 1st quarter valued at approximately $2,631,000. Institutional investors and hedge funds own 90.01% of the company’s stock.

Wall Street Analyst Weigh In

FANG has been the topic of a number of research reports. Weiss Ratings reissued a “hold (c-)” rating on shares of Diamondback Energy in a report on Saturday, September 27th. Melius Research assumed coverage on shares of Diamondback Energy in a research note on Wednesday, August 20th. They issued a “buy” rating and a $213.00 price objective on the stock. Scotiabank restated an “outperform” rating on shares of Diamondback Energy in a report on Friday, July 11th. Melius started coverage on Diamondback Energy in a research report on Wednesday, August 20th. They set a “buy” rating and a $213.00 target price for the company. Finally, Mizuho cut their target price on Diamondback Energy from $183.00 to $176.00 and set an “outperform” rating on the stock in a report on Monday, September 15th. Two analysts have rated the stock with a Strong Buy rating, twenty have given a Buy rating and one has assigned a Hold rating to the stock. According to MarketBeat.com, Diamondback Energy has a consensus rating of “Buy” and a consensus price target of $192.86.

Diamondback Energy Price Performance

Shares of NASDAQ FANG opened at $149.10 on Tuesday. The company has a market capitalization of $43.16 billion, a PE ratio of 10.60 and a beta of 1.04. 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 twelve month low of $114.00 and a twelve month high of $200.47. The firm has a fifty day simple moving average of $142.83 and a 200 day simple moving average of $141.34.

Diamondback Energy (NASDAQ:FANG) last issued 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 business had revenue of $3.68 billion for the quarter, compared to analyst estimates of $3.35 billion. During the same quarter in the previous year, the business posted $4.52 earnings per share. The business’s revenue was up 48.1% on a year-over-year basis. On average, sell-side analysts forecast that Diamondback Energy, Inc. will post 15.49 EPS for the current year.

Diamondback Energy Dividend Announcement

The firm also recently announced 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 dividend on an annualized basis and a yield of 2.7%. The ex-dividend date was Thursday, August 14th. Diamondback Energy’s payout ratio is presently 28.43%.

Insider Transactions at Diamondback Energy

In other Diamondback Energy news, Chairman Travis D. Stice sold 20,400 shares of the business’s stock in a transaction that occurred on Thursday, August 7th. The stock was sold at an average price of $142.80, for a total value of $2,913,120.00. Following the transaction, the chairman directly owned 102,145 shares of the company’s stock, valued at approximately $14,586,306. The trade was a 16.65% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company 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.