Diamondback Energy, Inc. (NASDAQ:FANG) Shares Acquired by Maxwell Wealth Strategies Inc.

Maxwell Wealth Strategies Inc. increased its stake in shares of Diamondback Energy, Inc. (NASDAQ:FANG) by 39.3% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 9,832 shares of the oil and natural gas company’s stock after acquiring an additional 2,776 shares during the period. Maxwell Wealth Strategies Inc.’s holdings in Diamondback Energy were worth $1,727,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors also recently bought and sold shares of FANG. First Community Trust NA purchased a new stake in shares of Diamondback Energy during the 2nd quarter worth about $26,000. Carolinas Wealth Consulting LLC grew its holdings in Diamondback Energy by 67.1% in the second quarter. Carolinas Wealth Consulting LLC now owns 137 shares of the oil and natural gas company’s stock valued at $27,000 after purchasing an additional 55 shares during the period. HHM Wealth Advisors LLC acquired a new stake in Diamondback Energy in the second quarter valued at approximately $40,000. Values First Advisors Inc. purchased a new stake in shares of Diamondback Energy in the third quarter valued at approximately $42,000. Finally, Founders Capital Management raised its stake in shares of Diamondback Energy by 99.2% during the 2nd quarter. Founders Capital Management now owns 251 shares of the oil and natural gas company’s stock worth $50,000 after buying an additional 125 shares during the period. 90.01% of the stock is currently owned by hedge funds and other institutional investors.

Diamondback Energy Stock Performance

NASDAQ:FANG opened at $176.60 on Friday. The firm has a market cap of $51.57 billion, a PE ratio of 10.11, a P/E/G ratio of 1.30 and a beta of 1.89. The company has a debt-to-equity ratio of 0.31, a current ratio of 0.45 and a quick ratio of 0.42. Diamondback Energy, Inc. has a 1-year low of $145.70 and a 1-year high of $214.50. The firm has a 50 day simple moving average of $181.16 and a 200-day simple moving average of $191.43.

Diamondback Energy (NASDAQ:FANG) last posted its quarterly earnings data on Monday, November 4th. The oil and natural gas company reported $3.38 EPS for the quarter, missing analysts’ consensus estimates of $4.62 by ($1.24). Diamondback Energy had a net margin of 33.64% and a return on equity of 13.68%. The company had revenue of $2.65 billion for the quarter, compared to analyst estimates of $2.43 billion. During the same period in the prior year, the company earned $5.49 EPS. The company’s revenue was up 13.0% compared to the same quarter last year. On average, equities analysts expect that Diamondback Energy, Inc. will post 16.78 EPS for the current year.

Diamondback Energy Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, November 21st. Investors of record on Thursday, November 14th will be issued a dividend of $0.90 per share. The ex-dividend date is Thursday, November 14th. This represents a $3.60 annualized dividend and a dividend yield of 2.04%. Diamondback Energy’s payout ratio is 20.61%.

Analyst Ratings Changes

FANG has been the subject of several recent analyst reports. Bank of America boosted their price target on shares of Diamondback Energy from $201.00 to $215.00 and gave the stock a “neutral” rating in a report on Tuesday, July 23rd. Scotiabank reduced their price target on shares of Diamondback Energy from $245.00 to $225.00 and set a “sector outperform” rating for the company in a research report on Thursday, October 10th. Morgan Stanley lifted their price objective on Diamondback Energy from $185.00 to $198.00 and gave the stock an “overweight” rating in a report on Monday, September 16th. Barclays raised Diamondback Energy from an “equal weight” rating to an “overweight” rating and reduced their target price for the company from $216.00 to $210.00 in a report on Wednesday, October 2nd. Finally, Piper Sandler lifted their price target on Diamondback Energy from $240.00 to $252.00 and gave the stock an “overweight” rating in a research note on Tuesday, October 15th. One analyst has rated the stock with a sell rating, five have given a hold rating, seventeen have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, Diamondback Energy currently has a consensus rating of “Moderate Buy” and a consensus price target of $209.64.

Insider Buying and Selling at Diamondback Energy

In other Diamondback Energy news, Director Mark Lawrence Plaumann sold 1,150 shares of Diamondback Energy stock in a transaction on Wednesday, November 13th. The shares were sold at an average price of $181.00, for a total value of $208,150.00. Following the completion of the transaction, the director now owns 4,712 shares of the company’s stock, valued at $852,872. The trade was a 19.62 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, major shareholder Lyndal Greth sold 13,212,830 shares of Diamondback Energy stock in a transaction dated Monday, September 23rd. The shares were sold at an average price of $175.11, for a total transaction of $2,313,698,661.30. Following the completion of the transaction, the insider now directly owns 1,037,819 shares of the company’s stock, valued at $181,732,485.09. This trade represents a 92.72 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.48% of the stock is currently owned by corporate insiders.

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.