Meeder Advisory Services Inc. Sells 164 Shares of Diamondback Energy, Inc. (NASDAQ:FANG)

Meeder Advisory Services Inc. decreased its holdings in shares of Diamondback Energy, Inc. (NASDAQ:FANG) by 4.7% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 3,317 shares of the oil and natural gas company’s stock after selling 164 shares during the quarter. Meeder Advisory Services Inc.’s holdings in Diamondback Energy were worth $572,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also bought and sold shares of FANG. First Community Trust NA purchased a new stake in Diamondback Energy during the 2nd quarter worth about $26,000. Carolinas Wealth Consulting LLC grew its position in shares of Diamondback Energy by 67.1% during the 2nd 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 in the last quarter. HHM Wealth Advisors LLC bought a new position in shares of Diamondback Energy in the second quarter worth $40,000. Values First Advisors Inc. purchased a new stake in shares of Diamondback Energy in the third quarter worth $42,000. Finally, Founders Capital Management boosted its stake in Diamondback Energy by 99.2% during the second quarter. Founders Capital Management now owns 251 shares of the oil and natural gas company’s stock valued at $50,000 after buying an additional 125 shares during the period. Institutional investors own 90.01% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on FANG. Royal Bank of Canada restated an “outperform” rating and issued a $210.00 target price on shares of Diamondback Energy in a research note on Wednesday, November 6th. Truist Financial lifted their target price on shares of Diamondback Energy from $220.00 to $230.00 and gave the company a “buy” rating in a research report on Wednesday, October 16th. Scotiabank decreased their price target on shares of Diamondback Energy from $245.00 to $225.00 and set a “sector outperform” rating on the stock in a report on Thursday, October 10th. Johnson Rice cut shares of Diamondback Energy from a “strong-buy” rating to a “moderate buy” rating in a research report on Tuesday, September 24th. Finally, Morgan Stanley upped their target price on shares of Diamondback Energy from $185.00 to $198.00 and gave the stock an “overweight” rating in a research report on Monday, September 16th. One analyst has rated the stock with a sell rating, five have given a hold rating, seventeen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $212.00.

Insiders Place Their Bets

In related news, Director Mark Lawrence Plaumann sold 1,150 shares of the business’s stock in a transaction dated Wednesday, November 13th. The shares were sold at an average price of $181.00, for a total transaction of $208,150.00. Following the transaction, the director now owns 4,712 shares in the company, valued at $852,872. The trade was a 19.62 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, major shareholder Lyndal Greth sold 13,212,830 shares of the firm’s stock in a transaction dated Monday, September 23rd. The stock was sold at an average price of $175.11, for a total transaction of $2,313,698,661.30. Following the completion of the sale, the insider now 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. Company insiders own 0.48% of the company’s stock.

Diamondback Energy Stock Performance

Diamondback Energy stock opened at $180.12 on Wednesday. The company has a current ratio of 0.45, a quick ratio of 0.42 and a debt-to-equity ratio of 0.31. The firm has a market cap of $52.59 billion, a P/E ratio of 10.31, a P/E/G ratio of 1.26 and a beta of 1.89. 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 moving average of $181.39 and a 200-day moving average of $191.07.

Diamondback Energy (NASDAQ:FANG) last released its quarterly earnings data on Monday, November 4th. The oil and natural gas company reported $3.38 earnings per share for the quarter, missing the consensus estimate of $4.62 by ($1.24). Diamondback Energy had a return on equity of 13.68% and a net margin of 33.64%. The business had revenue of $2.65 billion during the quarter, compared to analysts’ expectations of $2.43 billion. During the same quarter last year, the business posted $5.49 EPS. The company’s quarterly revenue was up 13.0% compared to the same quarter last year. Sell-side analysts expect that Diamondback Energy, Inc. will post 16.78 EPS for the current year.

Diamondback Energy Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, November 21st. Shareholders of record on Thursday, November 14th will be given a dividend of $0.90 per share. This represents a $3.60 dividend on an annualized basis and a yield of 2.00%. The ex-dividend date of this dividend is Thursday, November 14th. Diamondback Energy’s payout ratio is currently 20.61%.

About Diamondback Energy

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.