TruWealth Advisors LLC Boosts Stock Position in Diamondback Energy, Inc. $FANG

by · The Cerbat Gem

TruWealth Advisors LLC grew its holdings in Diamondback Energy, Inc. (NASDAQ:FANG – Free Report) by 3.3% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 162,406 shares of the oil and natural gas company’s stock after purchasing an additional 5,117 shares during the period. Diamondback Energy comprises approximately 1.2% of TruWealth Advisors LLC’s holdings, making the stock its 28th largest holding. TruWealth Advisors LLC owned approximately 0.06% of Diamondback Energy worth $23,240,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also made changes to their positions in FANG. Horizon Investments LLC lifted its holdings in Diamondback Energy by 9.5% during the 1st quarter. Horizon Investments LLC now owns 2,732 shares of the oil and natural gas company’s stock valued at $437,000 after buying an additional 237 shares in the last quarter. Aberdeen Group plc grew its stake in Diamondback Energy by 95.9% in the 1st quarter. Aberdeen Group plc now owns 94,530 shares of the oil and natural gas company’s stock worth $15,182,000 after acquiring an additional 46,274 shares in the last quarter. Versor Investments LP purchased a new position in shares of Diamondback Energy during the first quarter worth approximately $272,000. Alpha Family Trust purchased a new position in shares of Diamondback Energy during the first quarter worth approximately $237,000. Finally, Wellington Management Group LLP raised its stake in shares of Diamondback Energy by 27.3% during the first quarter. Wellington Management Group LLP now owns 1,950,160 shares of the oil and natural gas company’s stock valued at $311,792,000 after acquiring an additional 418,431 shares in the last quarter. 90.01% of the stock is currently owned by institutional investors.

Diamondback Energy Trading Down 1.7%

NASDAQ:FANG opened at $154.06 on Tuesday. The firm has a 50 day moving average of $147.39 and a 200 day moving average of $144.44. The company has a quick ratio of 0.60, a current ratio of 0.62 and a debt-to-equity ratio of 0.35. Diamondback Energy, Inc. has a 52 week low of $114.00 and a 52 week high of $180.91. The stock has a market capitalization of $44.12 billion, a price-to-earnings ratio of 10.71 and a beta of 0.63.

Diamondback Energy (NASDAQ:FANG – Get Free Report) last announced its earnings results on Monday, November 3rd. The oil and natural gas company reported $3.08 earnings per share for the quarter, topping the consensus estimate of $2.94 by $0.14. Diamondback Energy had a return on equity of 9.57% and a net margin of 27.32%.The firm had revenue of $3.92 billion for the quarter, compared to the consensus estimate of $3.48 billion. During the same period in the previous year, the business earned $3.19 EPS. The firm’s revenue for the quarter was up 48.4% on a year-over-year basis. As a group, sell-side analysts anticipate that Diamondback Energy, Inc. will post 15.49 earnings per share for the current fiscal year.

Diamondback Energy Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, November 20th. Stockholders of record on Thursday, November 13th were issued a dividend of $1.00 per share. The ex-dividend date was Thursday, November 13th. This represents a $4.00 annualized dividend and a dividend yield of 2.6%. Diamondback Energy’s dividend payout ratio is 27.80%.

Insider Activity at Diamondback Energy

In related news, Director Charles Alvin Meloy sold 377,911 shares of the stock in a transaction that occurred on Thursday, December 4th. The shares were sold at an average price of $138.61, for a total value of $52,382,243.71. Following the completion of the transaction, the director directly owned 1,044,864 shares of the company’s stock, valued at $144,828,599.04. This trade represents a 26.56% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.48% of the stock is owned by insiders.

Analyst Ratings Changes

Several brokerages recently issued reports on FANG. Wells Fargo & Company increased their price objective on Diamondback Energy from $160.00 to $169.00 and gave the stock an “overweight” rating in a research note on Monday, November 17th. William Blair started coverage on Diamondback Energy in a report on Monday, August 25th. They issued an “outperform” rating for the company. Melius initiated coverage on Diamondback Energy in a research note on Wednesday, August 20th. They set a “buy” rating and a $213.00 price target on the stock. Royal Bank Of Canada restated an “outperform” rating and issued a $173.00 price objective on shares of Diamondback Energy in a report on Friday, October 10th. Finally, Melius Research initiated coverage on shares of Diamondback Energy in a research note on Wednesday, August 20th. They issued a “buy” rating and a $213.00 price objective for the company. One research analyst has rated the stock with a Strong Buy rating, twenty have assigned a Buy rating and one has issued a Hold rating to the stock. According to data from MarketBeat, Diamondback Energy currently has an average rating of “Buy” and an average target price of $188.76.

View Our Latest Research Report on Diamondback Energy

Diamondback Energy Company Profile

(Free Report)

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.

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