OneDigital Investment Advisors LLC Purchases New Holdings in Diamondback Energy, Inc. $FANG

OneDigital Investment Advisors LLC acquired a new position in Diamondback Energy, Inc. (NASDAQ:FANG) during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 5,297 shares of the oil and natural gas company’s stock, valued at approximately $931,000.

Several other institutional investors have also added to or reduced their stakes in FANG. Laurel Wealth Advisors LLC bought a new position in shares of Diamondback Energy during the fourth quarter valued at approximately $26,000. Cedar Mountain Advisors LLC purchased a new position in Diamondback Energy during the 1st quarter valued at $26,000. JPL Wealth Management LLC purchased a new position in Diamondback Energy during the 3rd quarter valued at $26,000. Wellington Shields & Co. LLC boosted its holdings in Diamondback Energy by 264.7% during the 4th quarter. Wellington Shields & Co. LLC now owns 186 shares of the oil and natural gas company’s stock valued at $28,000 after acquiring an additional 135 shares during the period. Finally, Lloyd Advisory Services LLC. bought a new position in Diamondback Energy in the 4th quarter valued at $31,000. Institutional investors own 90.01% of the company’s stock.

Diamondback Energy Stock Performance

FANG stock opened at $206.29 on Tuesday. Diamondback Energy, Inc. has a 1-year low of $134.30 and a 1-year high of $214.51. The business has a 50-day moving average price of $190.47 and a 200 day moving average price of $188.07. The company has a market capitalization of $57.77 billion, a P/E ratio of 40.21 and a beta of 0.43. The company has a debt-to-equity ratio of 0.25, a current ratio of 0.47 and a quick ratio of 0.45.

Diamondback Energy (NASDAQ:FANG) last issued its earnings results on Monday, August 3rd. The oil and natural gas company reported $6.48 earnings per share (EPS) for the quarter, topping the consensus estimate of $6.08 by $0.40. Diamondback Energy had a net margin of 8.58% and a return on equity of 10.10%. The company had revenue of $5.56 billion for the quarter, compared to analysts’ expectations of $4.89 billion. During the same period in the prior year, the business earned $2.38 EPS. The firm’s quarterly revenue was up 51.2% on a year-over-year basis. As a group, equities research analysts forecast that Diamondback Energy, Inc. will post 19.73 EPS for the current fiscal year.

Diamondback Energy Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, August 20th. Investors of record on Thursday, August 13th will be paid a $1.10 dividend. The ex-dividend date of this dividend is Thursday, August 13th. This represents a $4.40 dividend on an annualized basis and a yield of 2.1%. Diamondback Energy’s payout ratio is 85.77%.

Analysts Set New Price Targets

A number of analysts have weighed in on the company. Sanford C. Bernstein increased their target price on Diamondback Energy from $237.00 to $241.00 and gave the stock an “outperform” rating in a research note on Monday, May 11th. Wells Fargo & Company upped their price target on shares of Diamondback Energy from $262.00 to $263.00 and gave the stock an “overweight” rating in a report on Wednesday, August 5th. Morgan Stanley reduced their price target on shares of Diamondback Energy from $229.00 to $216.00 and set an “overweight” rating on the stock in a research note on Monday, June 29th. Barclays decreased their price objective on shares of Diamondback Energy from $232.00 to $221.00 and set an “overweight” rating for the company in a report on Monday. Finally, Wall Street Zen raised shares of Diamondback Energy from a “hold” rating to a “buy” rating in a research report on Saturday, August 8th. Four analysts have rated the stock with a Strong Buy rating, eighteen have issued a Buy rating and four have issued a Hold rating to the company. According to MarketBeat, the company presently has an average rating of “Buy” and a consensus target price of $221.75.

Insider Buying and Selling at Diamondback Energy

In other Diamondback Energy news, CAO Teresa L. Dick sold 7,000 shares of the stock in a transaction on Tuesday, June 2nd. The stock was sold at an average price of $200.90, for a total transaction of $1,406,300.00. Following the sale, the chief accounting officer owned 85,755 shares of the company’s stock, valued at approximately $17,228,179.50. This trade represents a 7.55% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Charles Alvin Meloy sold 83,334 shares of the business’s stock in a transaction dated Tuesday, June 16th. The stock was sold at an average price of $187.12, for a total transaction of $15,593,458.08. Following the completion of the transaction, the director owned 851,530 shares of the company’s stock, valued at $159,338,293.60. This represents a 8.91% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last ninety days, insiders sold 129,167 shares of company stock worth $24,714,309. 0.64% of the stock is currently owned by corporate insiders.

About Diamondback Energy

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.