Avantax Advisory Services Inc. Sells 2,086 Shares of Diamondback Energy, Inc. (NASDAQ:FANG)

Avantax Advisory Services Inc. trimmed its position in shares of Diamondback Energy, Inc. (NASDAQ:FANG) by 17.8% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 9,653 shares of the oil and natural gas company’s stock after selling 2,086 shares during the period. Avantax Advisory Services Inc.’s holdings in Diamondback Energy were worth $1,581,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. R Squared Ltd bought a new stake in shares of Diamondback Energy during the 4th quarter valued at $29,000. UMB Bank n.a. raised its position in shares of Diamondback Energy by 247.3% during the 4th quarter. UMB Bank n.a. now owns 191 shares of the oil and natural gas company’s stock valued at $31,000 after purchasing an additional 136 shares during the period. Key Financial Inc raised its position in shares of Diamondback Energy by 940.0% during the 4th quarter. Key Financial Inc now owns 208 shares of the oil and natural gas company’s stock valued at $34,000 after purchasing an additional 188 shares during the period. Smithfield Trust Co raised its position in shares of Diamondback Energy by 37.8% during the 4th quarter. Smithfield Trust Co now owns 310 shares of the oil and natural gas company’s stock valued at $50,000 after purchasing an additional 85 shares during the period. Finally, Briaud Financial Planning Inc bought a new stake in Diamondback Energy in the 4th quarter valued at $57,000. 90.01% of the stock is currently owned by institutional investors.

Insider Transactions at Diamondback Energy

In other Diamondback Energy news, Director Frank D. Tsuru purchased 2,000 shares of the stock in a transaction dated Friday, February 28th. The stock was purchased at an average price of $156.51 per share, with a total value of $313,020.00. Following the transaction, the director now owns 5,730 shares of the company’s stock, valued at approximately $896,802.30. This trade represents a 53.62 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 0.48% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have issued reports on FANG. UBS Group lifted their price target on shares of Diamondback Energy from $212.00 to $216.00 and gave the company a “buy” rating in a report on Thursday, February 13th. Wolfe Research upgraded shares of Diamondback Energy from a “peer perform” rating to an “outperform” rating and set a $190.00 price target on the stock in a report on Friday, January 3rd. JPMorgan Chase & Co. reduced their price target on shares of Diamondback Energy from $212.00 to $167.00 and set an “overweight” rating on the stock in a report on Thursday, March 13th. Morgan Stanley lifted their price target on shares of Diamondback Energy from $220.00 to $227.00 and gave the company an “overweight” rating in a report on Wednesday, February 19th. Finally, The Goldman Sachs Group assumed coverage on shares of Diamondback Energy in a research note on Monday, December 2nd. They issued a “buy” rating and a $227.00 price objective for the company. Four analysts have rated the stock with a hold rating, eighteen have given a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat.com, Diamondback Energy presently has an average rating of “Moderate Buy” and an average target price of $209.92.

Diamondback Energy Price Performance

Shares of FANG stock opened at $155.00 on Wednesday. The company has a debt-to-equity ratio of 0.31, a current ratio of 0.45 and a quick ratio of 0.42. The company has a market capitalization of $44.86 billion, a P/E ratio of 8.87, a P/E/G ratio of 1.24 and a beta of 1.85. The company’s 50-day simple moving average is $161.32 and its two-hundred day simple moving average is $170.94. Diamondback Energy, Inc. has a one year low of $137.09 and a one year high of $214.50.

Diamondback Energy (NASDAQ:FANG) last issued its earnings results on Tuesday, February 25th. The oil and natural gas company reported $3.64 EPS for the quarter, topping analysts’ consensus estimates of $3.57 by $0.07. The business had revenue of $3.71 billion for the quarter, compared to the consensus estimate of $3.55 billion. Diamondback Energy had a net margin of 33.64% and a return on equity of 13.68%. As a group, equities analysts anticipate that Diamondback Energy, Inc. will post 15.49 EPS for the current year.

Diamondback Energy Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, March 13th. Stockholders of record on Thursday, March 6th were given a $1.00 dividend. This represents a $4.00 annualized dividend and a dividend yield of 2.58%. The ex-dividend date was Thursday, March 6th. This is a boost from Diamondback Energy’s previous quarterly dividend of $0.90. Diamondback Energy’s dividend payout ratio is presently 25.32%.

Diamondback Energy 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.