4,040 Shares in Diamondback Energy, Inc. $FANG Bought by Tulsa Wealth Advisors INC

Tulsa Wealth Advisors INC acquired a new position in shares of Diamondback Energy, Inc. (NASDAQ:FANG) during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The firm acquired 4,040 shares of the oil and natural gas company’s stock, valued at approximately $710,000.

Several other hedge funds and other institutional investors also recently bought and sold shares of FANG. Barden Capital Management Inc. purchased a new stake in shares of Diamondback Energy in the second quarter valued at about $582,000. J.Safra Asset Management Corp purchased a new position in shares of Diamondback Energy during the second quarter worth about $41,000. Global Retirement Partners LLC purchased a new position in shares of Diamondback Energy during the second quarter worth about $1,473,000. Fielder Capital Group LLC acquired a new position in Diamondback Energy in the 2nd quarter valued at about $1,549,000. Finally, Wilkinson Global Asset Management LLC acquired a new position in Diamondback Energy in the 2nd quarter valued at about $659,000. 90.01% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

FANG has been the subject of a number of recent research reports. Barclays increased their price objective on Diamondback Energy from $225.00 to $232.00 and gave the stock an “overweight” rating in a research report on Tuesday, May 26th. Sanford C. Bernstein boosted their target price on Diamondback Energy from $237.00 to $241.00 and gave the company an “outperform” rating in a report on Monday, May 11th. Wells Fargo & Company upped their price target on Diamondback Energy from $262.00 to $263.00 and gave the stock an “overweight” rating in a research note on Wednesday, August 5th. UBS Group cut their price target on Diamondback Energy from $246.00 to $243.00 and set a “buy” rating for the company in a research note on Tuesday, July 21st. Finally, Jefferies Financial Group reaffirmed a “hold” rating and set a $205.00 price target on shares of Diamondback Energy in a report on Sunday, August 9th. Four research analysts have rated the stock with a Strong Buy rating, eighteen have given a Buy rating and four have given a Hold rating to the stock. According to MarketBeat, the stock has an average rating of “Buy” and an average target price of $222.30.

Insiders Place Their Bets

In related news, CAO Teresa L. Dick sold 7,000 shares of the company’s 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 transaction, the chief accounting officer owned 85,755 shares of the company’s stock, valued at $17,228,179.50. This represents a 7.55% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Mark Lawrence Plaumann sold 500 shares of the stock in a transaction on Tuesday, June 9th. The stock was sold at an average price of $196.50, for a total value of $98,250.00. Following the completion of the transaction, the director owned 13,437 shares of the company’s stock, valued at $2,640,370.50. The trade was a 3.59% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 134,167 shares of company stock valued at $25,749,309 over the last 90 days. 0.64% of the stock is owned by corporate insiders.

Diamondback Energy Stock Performance

NASDAQ FANG opened at $202.47 on Monday. The stock has a market capitalization of $56.70 billion, a P/E ratio of 39.47 and a beta of 0.43. Diamondback Energy, Inc. has a 52-week low of $134.30 and a 52-week high of $214.51. The firm has a 50-day moving average price of $190.31 and a 200 day moving average price of $187.74. The company has a quick ratio of 0.45, a current ratio of 0.47 and a debt-to-equity ratio of 0.25.

Diamondback Energy (NASDAQ:FANG) last announced its quarterly earnings data on Monday, August 3rd. The oil and natural gas company reported $6.48 EPS for the quarter, beating analysts’ consensus estimates of $6.08 by $0.40. Diamondback Energy had a net margin of 8.58% and a return on equity of 10.10%. The firm had revenue of $5.56 billion during the quarter, compared to the consensus estimate of $4.89 billion. During the same quarter last year, the firm earned $2.38 earnings per share. The firm’s revenue was up 51.2% compared to the same quarter last year. Equities research analysts expect that Diamondback Energy, Inc. will post 19.73 EPS for the current year.

Diamondback Energy Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, August 20th. Stockholders of record on Thursday, August 13th will be paid a dividend of $1.10 per share. This represents a $4.40 dividend on an annualized basis and a dividend yield of 2.2%. The ex-dividend date of this dividend is Thursday, August 13th. Diamondback Energy’s dividend payout ratio is 85.77%.

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.