Invera Wealth Advisors LLC Lowers Holdings in Diamondback Energy, Inc. $FANG

Invera Wealth Advisors LLC decreased its position in Diamondback Energy, Inc. (NASDAQ:FANG) by 52.7% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 2,965 shares of the oil and natural gas company’s stock after selling 3,309 shares during the period. Invera Wealth Advisors LLC’s holdings in Diamondback Energy were worth $446,000 at the end of the most recent quarter.

Other large investors have also recently modified their holdings of the company. Scotia Capital Inc. raised its stake in Diamondback Energy by 0.3% in the third quarter. Scotia Capital Inc. now owns 19,719 shares of the oil and natural gas company’s stock worth $2,822,000 after buying an additional 68 shares in the last quarter. Equitable Trust Co. raised its stake in Diamondback Energy by 0.7% in the third quarter. Equitable Trust Co. now owns 10,030 shares of the oil and natural gas company’s stock worth $1,435,000 after buying an additional 73 shares in the last quarter. Valeo Financial Advisors LLC raised its stake in Diamondback Energy by 3.0% in the third quarter. Valeo Financial Advisors LLC now owns 2,568 shares of the oil and natural gas company’s stock worth $367,000 after buying an additional 74 shares in the last quarter. 180 Wealth Advisors LLC raised its stake in Diamondback Energy by 2.9% in the fourth quarter. 180 Wealth Advisors LLC now owns 2,725 shares of the oil and natural gas company’s stock worth $410,000 after buying an additional 78 shares in the last quarter. Finally, Fulton Bank N.A. raised its stake in Diamondback Energy by 1.8% in the fourth quarter. Fulton Bank N.A. now owns 4,400 shares of the oil and natural gas company’s stock worth $661,000 after buying an additional 78 shares in the last quarter. Hedge funds and other institutional investors own 90.01% of the company’s stock.

Diamondback Energy Stock Performance

Shares of FANG stock opened at $189.10 on Tuesday. The business’s fifty day simple moving average is $181.07 and its 200-day simple moving average is $160.06. The company has a market cap of $53.20 billion, a PE ratio of 33.71 and a beta of 0.50. The company has a current ratio of 0.42, a quick ratio of 0.40 and a debt-to-equity ratio of 0.32. Diamondback Energy, Inc. has a 12-month low of $125.87 and a 12-month high of $204.91.

Diamondback Energy (NASDAQ:FANG) last issued its quarterly earnings results on Monday, February 23rd. The oil and natural gas company reported $1.74 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.00 by ($0.26). The business had revenue of $3.38 billion for the quarter, compared to analyst estimates of $3.41 billion. Diamondback Energy had a return on equity of 8.08% and a net margin of 11.07%.The business’s revenue for the quarter was down 9.0% on a year-over-year basis. During the same period in the previous year, the company posted $3.67 earnings per share. Analysts expect that Diamondback Energy, Inc. will post 15.49 earnings per share for the current fiscal year.

Diamondback Energy Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, March 12th. Stockholders of record on Thursday, March 5th were given a dividend of $1.05 per share. The ex-dividend date of this dividend was Thursday, March 5th. This is a boost from Diamondback Energy’s previous quarterly dividend of $1.00. This represents a $4.20 dividend on an annualized basis and a dividend yield of 2.2%. Diamondback Energy’s payout ratio is currently 74.87%.

Insider Buying and Selling at Diamondback Energy

In other news, EVP Matt Zmigrosky sold 20,899 shares of the company’s stock in a transaction on Friday, March 13th. The stock was sold at an average price of $180.00, for a total transaction of $3,761,820.00. Following the transaction, the executive vice president directly owned 60,493 shares of the company’s stock, valued at approximately $10,888,740. This represents a 25.68% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Charles Alvin Meloy sold 60,605 shares of the company’s stock in a transaction on Tuesday, February 3rd. The stock was sold at an average price of $161.12, for a total value of $9,764,677.60. Following the transaction, the director directly owned 982,006 shares in the company, valued at approximately $158,220,806.72. The trade was a 5.81% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders sold 1,217,069 shares of company stock valued at $201,213,109. Corporate insiders own 0.48% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on FANG shares. Truist Financial started coverage on shares of Diamondback Energy in a research note on Tuesday, March 24th. They issued a “buy” rating and a $222.00 price objective for the company. Roth Mkm reissued a “neutral” rating and issued a $200.00 price objective (up from $180.00) on shares of Diamondback Energy in a research note on Wednesday, April 8th. Morgan Stanley boosted their price objective on shares of Diamondback Energy from $171.00 to $220.00 and gave the stock an “overweight” rating in a research note on Friday, March 27th. Barclays boosted their price objective on shares of Diamondback Energy from $185.00 to $190.00 and gave the stock an “overweight” rating in a research note on Monday, March 16th. Finally, Weiss Ratings reissued a “hold (c)” rating on shares of Diamondback Energy in a research note on Monday, December 29th. Five investment analysts have rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating and four have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, Diamondback Energy currently has a consensus rating of “Buy” and an average price target of $203.95.

Diamondback Energy Company Profile

Diamondback Energy, Inc (NASDAQ: FANG) is an independent oil and natural gas company focused on the development, exploration and production of unconventional resources in the Permian Basin. Headquartered in Midland, Texas, the company concentrates its operations in the core Midland and Delaware sub‑basins of West Texas and southeastern New Mexico, where it pursues contiguous acreage positions to support repeatable drilling programs.

Diamondback’s activities span the upstream value chain, including leasehold acquisition, well planning, drilling, completion and production optimization.