GDS Wealth Management Has $18.98 Million Stock Holdings in Diamondback Energy, Inc. (NASDAQ:FANG)

GDS Wealth Management lifted its holdings in Diamondback Energy, Inc. (NASDAQ:FANG) by 1.6% in the 2nd quarter, HoldingsChannel.com reports. The institutional investor owned 94,804 shares of the oil and natural gas company’s stock after acquiring an additional 1,517 shares during the quarter. Diamondback Energy comprises about 2.1% of GDS Wealth Management’s investment portfolio, making the stock its 11th largest position. GDS Wealth Management’s holdings in Diamondback Energy were worth $18,979,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also modified their holdings of the company. Franklin Resources Inc. boosted its position in shares of Diamondback Energy by 14.1% in the fourth quarter. Franklin Resources Inc. now owns 50,633 shares of the oil and natural gas company’s stock worth $7,852,000 after buying an additional 6,240 shares during the period. Wealth Enhancement Advisory Services LLC boosted its position in Diamondback Energy by 178.1% during the second quarter. Wealth Enhancement Advisory Services LLC now owns 30,532 shares of the oil and natural gas company’s stock valued at $6,112,000 after purchasing an additional 19,552 shares during the last quarter. TFO Wealth Partners LLC boosted its position in Diamondback Energy by 78,990.0% during the fourth quarter. TFO Wealth Partners LLC now owns 7,909 shares of the oil and natural gas company’s stock valued at $1,227,000 after purchasing an additional 7,899 shares during the last quarter. Integrated Advisors Network LLC boosted its position in Diamondback Energy by 92.8% during the fourth quarter. Integrated Advisors Network LLC now owns 13,031 shares of the oil and natural gas company’s stock valued at $2,021,000 after purchasing an additional 6,272 shares during the last quarter. Finally, Kapitalo Investimentos Ltda boosted its position in Diamondback Energy by 1,842.5% during the fourth quarter. Kapitalo Investimentos Ltda now owns 4,390 shares of the oil and natural gas company’s stock valued at $681,000 after purchasing an additional 4,164 shares during the last quarter. Institutional investors and hedge funds own 90.01% of the company’s stock.

Diamondback Energy Trading Up 1.4 %

Diamondback Energy stock opened at $174.81 on Tuesday. The company has a debt-to-equity ratio of 0.65, a quick ratio of 3.64 and a current ratio of 3.66. The business’s 50-day simple moving average is $194.20 and its 200-day simple moving average is $195.81. The firm has a market capitalization of $31.18 billion, a PE ratio of 9.85, a PEG ratio of 1.06 and a beta of 1.89. Diamondback Energy, Inc. has a 52 week low of $143.08 and a 52 week high of $214.50.

Diamondback Energy (NASDAQ:FANG) last posted its quarterly earnings data on Monday, August 5th. The oil and natural gas company reported $4.52 EPS for the quarter, topping analysts’ consensus estimates of $4.51 by $0.01. Diamondback Energy had a return on equity of 19.54% and a net margin of 37.51%. The business had revenue of $2.48 billion for the quarter, compared to analyst estimates of $2.19 billion. During the same period in the previous year, the company posted $3.68 earnings per share. The firm’s revenue for the quarter was up 29.4% on a year-over-year basis. Equities research analysts forecast that Diamondback Energy, Inc. will post 19.08 earnings per share for the current year.

Diamondback Energy Increases Dividend

The company also recently declared a None dividend, which was paid on Thursday, August 22nd. Investors of record on Thursday, August 15th were paid a dividend of $2.34 per share. This represents a yield of 1.9%. This is a positive change from Diamondback Energy’s previous None dividend of $2.26. The ex-dividend date of this dividend was Thursday, August 15th. Diamondback Energy’s payout ratio is currently 20.29%.

Wall Street Analyst Weigh In

FANG has been the subject of a number of research reports. Truist Financial lifted their price objective on Diamondback Energy from $249.00 to $255.00 and gave the company a “buy” rating in a research report on Wednesday, August 7th. Benchmark reissued a “buy” rating and set a $154.00 price objective on shares of Diamondback Energy in a research report on Tuesday, August 6th. Wolfe Research started coverage on Diamondback Energy in a research report on Thursday, July 18th. They set a “peer perform” rating for the company. KeyCorp started coverage on Diamondback Energy in a report on Thursday, June 27th. They set an “overweight” rating and a $225.00 target price on the stock. Finally, Sanford C. Bernstein cut their target price on Diamondback Energy from $243.00 to $236.00 and set an “outperform” rating on the stock in a report on Wednesday, July 17th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating, fourteen have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat, Diamondback Energy has an average rating of “Moderate Buy” and a consensus target price of $210.86.

Diamondback Energy Company 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.