Freedom Investment Management Inc. Buys 167 Shares of Diamondback Energy, Inc. (NASDAQ:FANG)

Freedom Investment Management Inc. raised its stake in shares of Diamondback Energy, Inc. (NASDAQ:FANG) by 3.2% during the 3rd quarter, according to the company in its most recent filing with the SEC. The firm owned 5,352 shares of the oil and natural gas company’s stock after purchasing an additional 167 shares during the quarter. Freedom Investment Management Inc.’s holdings in Diamondback Energy were worth $923,000 as of its most recent filing with the SEC.

A number of other large investors have also made changes to their positions in the stock. First Community Trust NA acquired a new position in Diamondback Energy in the 2nd quarter valued at approximately $26,000. Carolinas Wealth Consulting LLC raised its stake in shares of 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 in the last quarter. HHM Wealth Advisors LLC bought a new position in Diamondback Energy in the second quarter worth $40,000. Values First Advisors Inc. acquired a new stake in Diamondback Energy during the third quarter worth $42,000. Finally, Founders Capital Management increased its holdings in Diamondback Energy by 99.2% in the 2nd 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 and hedge funds own 90.01% of the company’s stock.

Diamondback Energy Stock Up 0.1 %

NASDAQ:FANG opened at $176.19 on Friday. The stock’s fifty day simple moving average is $182.02 and its 200-day simple moving average is $190.08. The firm has a market capitalization of $51.45 billion, a P/E ratio of 10.09, a P/E/G ratio of 1.32 and a beta of 1.89. The company has a quick ratio of 0.42, a current ratio of 0.45 and a debt-to-equity ratio of 0.31. Diamondback Energy, Inc. has a 12-month low of $145.70 and a 12-month high of $214.50.

Diamondback Energy (NASDAQ:FANG) last issued its earnings results on Monday, November 4th. The oil and natural gas company reported $3.38 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $4.62 by ($1.24). The company had revenue of $2.65 billion for the quarter, compared to the consensus estimate of $2.43 billion. Diamondback Energy had a return on equity of 13.68% and a net margin of 33.64%. Diamondback Energy’s quarterly revenue was up 13.0% on a year-over-year basis. During the same quarter last year, the business posted $5.49 EPS. Equities research analysts expect that Diamondback Energy, Inc. will post 16.26 earnings per share for the current year.

Diamondback Energy Dividend Announcement

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

Analyst Ratings Changes

A number of research firms have recently commented on FANG. Wells Fargo & Company reaffirmed a “sector outperform” rating on shares of Diamondback Energy in a report on Friday, October 18th. JPMorgan Chase & Co. started coverage on Diamondback Energy in a report on Wednesday, October 2nd. They set an “overweight” rating and a $182.00 price objective on the stock. KeyCorp dropped their target price on Diamondback Energy from $225.00 to $216.00 and set an “overweight” rating for the company in a report on Wednesday, October 16th. Citigroup began coverage on Diamondback Energy in a research note on Monday, October 14th. They issued a “neutral” rating and a $195.00 price target on the stock. Finally, UBS Group dropped their price objective on Diamondback Energy from $247.00 to $223.00 and set a “buy” rating for the company in a research note on Wednesday, September 18th. One analyst has rated the stock with a sell rating, five have assigned a hold rating, seventeen have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $212.00.

Insider Buying and Selling at Diamondback Energy

In other Diamondback Energy news, Director Mark Lawrence Plaumann sold 1,150 shares of the business’s stock in a transaction dated Wednesday, November 13th. The stock was 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 directly owns 4,712 shares of the company’s stock, valued at approximately $852,872. The trade was a 19.62 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, major shareholder Lyndal Greth sold 13,212,830 shares of the stock in a transaction dated Monday, September 23rd. The stock was sold at an average price of $175.11, for a total value 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. Insiders own 0.48% of the company’s stock.

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.