Atria Investments Inc Decreases Stake in Diamondback Energy, Inc. $FANG

Atria Investments Inc lowered its position in Diamondback Energy, Inc. (NASDAQ:FANG) by 11.2% in the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 36,697 shares of the oil and natural gas company’s stock after selling 4,612 shares during the quarter. Atria Investments Inc’s holdings in Diamondback Energy were worth $5,517,000 as of its most recent SEC filing.

Other large investors also recently added to or reduced their stakes in the company. Flagship Harbor Advisors LLC purchased a new stake in Diamondback Energy in the 4th quarter worth about $25,000. Richardson Financial Services Inc. increased its holdings in Diamondback Energy by 245.1% in the 4th quarter. Richardson Financial Services Inc. now owns 176 shares of the oil and natural gas company’s stock worth $26,000 after acquiring an additional 125 shares during the last quarter. Laurel Wealth Advisors LLC purchased a new stake in Diamondback Energy in the 4th quarter worth about $26,000. JPL Wealth Management LLC purchased a new stake in Diamondback Energy in the 3rd quarter worth about $26,000. Finally, KERR FINANCIAL PLANNING Corp purchased a new stake in Diamondback Energy in the 3rd quarter worth about $38,000. Hedge funds and other institutional investors own 90.01% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on the company. Piper Sandler lifted their target price on Diamondback Energy from $215.00 to $248.00 and gave the company an “overweight” rating in a report on Thursday, March 12th. Roth Mkm reaffirmed a “neutral” rating and set a $205.00 target price on shares of Diamondback Energy in a report on Tuesday, May 5th. Mizuho lifted their target price on Diamondback Energy from $205.00 to $220.00 and gave the company an “outperform” rating in a report on Tuesday, March 17th. Freedom Capital raised Diamondback Energy to a “strong-buy” rating in a report on Tuesday, March 10th. Finally, Wells Fargo & Company lifted their target price on Diamondback Energy from $202.00 to $262.00 and gave the company an “overweight” rating in a report on Monday, April 20th. Five equities research 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. According to MarketBeat, Diamondback Energy currently has an average rating of “Buy” and an average target price of $218.25.

Diamondback Energy Stock Up 1.6%

FANG stock opened at $203.56 on Friday. The company has a quick ratio of 0.55, a current ratio of 0.56 and a debt-to-equity ratio of 0.31. The firm has a market capitalization of $57.26 billion, a PE ratio of 236.70 and a beta of 0.46. Diamondback Energy, Inc. has a twelve month low of $132.20 and a twelve month high of $214.51. The stock has a 50-day simple moving average of $191.72 and a two-hundred day simple moving average of $167.76.

Diamondback Energy (NASDAQ:FANG) last issued its quarterly earnings results on Monday, May 4th. The oil and natural gas company reported $4.23 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.74 by $0.49. The firm had revenue of $4.24 billion during the quarter, compared to the consensus estimate of $3.83 billion. Diamondback Energy had a return on equity of 7.76% and a net margin of 1.87%.The company’s revenue for the quarter was up 4.7% on a year-over-year basis. During the same quarter last year, the company posted $4.54 EPS. On average, equities analysts predict that Diamondback Energy, Inc. will post 19.04 EPS for the current fiscal year.

Diamondback Energy Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, May 21st. Stockholders of record on Thursday, May 14th will be given a dividend of $1.10 per share. This is a boost from Diamondback Energy’s previous quarterly dividend of $1.05. The ex-dividend date is Thursday, May 14th. This represents a $4.40 dividend on an annualized basis and a dividend yield of 2.2%. Diamondback Energy’s dividend payout ratio is 511.63%.

Insider Activity

In other news, CAO Teresa L. Dick sold 5,000 shares of Diamondback Energy stock in a transaction dated Wednesday, March 18th. The stock was sold at an average price of $190.00, for a total transaction of $950,000.00. Following the completion of the sale, the chief accounting officer owned 107,755 shares in the company, valued at approximately $20,473,450. This trade represents a 4.43% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CFO Jere W. Thompson III sold 750 shares of Diamondback Energy stock in a transaction dated Monday, March 16th. The shares were sold at an average price of $182.47, for a total value of $136,852.50. Following the sale, the chief financial officer owned 19,975 shares of the company’s stock, valued at approximately $3,644,838.25. This trade represents a 3.62% decrease in their position. The SEC filing for this sale provides additional information. In the last quarter, insiders have sold 169,321 shares of company stock worth $31,055,475. Company insiders own 0.64% of the company’s stock.

Diamondback Energy 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.