Integrated Wealth Concepts LLC Has $10.21 Million Stake in Diamondback Energy, Inc. $FANG

Integrated Wealth Concepts LLC lifted its stake in Diamondback Energy, Inc. (NASDAQ:FANG) by 15.4% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 71,341 shares of the oil and natural gas company’s stock after purchasing an additional 9,532 shares during the quarter. Integrated Wealth Concepts LLC’s holdings in Diamondback Energy were worth $10,209,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also made changes to their positions in FANG. JPL Wealth Management LLC purchased a new stake in Diamondback Energy in the 3rd quarter worth approximately $26,000. E Fund Management Hong Kong Co. Ltd. grew its holdings in shares of Diamondback Energy by 106.3% during the 3rd quarter. E Fund Management Hong Kong Co. Ltd. now owns 198 shares of the oil and natural gas company’s stock valued at $28,000 after acquiring an additional 102 shares in the last quarter. Salomon & Ludwin LLC acquired a new position in shares of Diamondback Energy in the third quarter worth $31,000. Twin Peaks Wealth Advisors LLC acquired a new position in shares of Diamondback Energy in the second quarter worth $29,000. Finally, Estabrook Capital Management purchased a new stake in shares of Diamondback Energy during the second quarter worth $41,000. 90.01% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Diamondback Energy news, Chairman Travis D. Stice sold 63,957 shares of the company’s stock in a transaction dated Friday, March 6th. The shares were sold at an average price of $181.16, for a total transaction of $11,586,450.12. Following the completion of the sale, the chairman directly owned 305,314 shares in the company, valued at $55,310,684.24. This represents a 17.32% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, major shareholder Fang Holdings Lp Sgf sold 1,000,000 shares of the firm’s stock in a transaction dated Tuesday, February 3rd. The shares were sold at an average price of $162.88, for a total value of $162,880,000.00. Following the completion of the sale, the insider directly owned 98,686,727 shares in the company, valued at approximately $16,074,094,093.76. This represents a 1.00% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 1,168,462 shares of company stock worth $192,197,747 in the last quarter. 0.48% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

A number of research analysts have commented on FANG shares. Freedom Capital upgraded Diamondback Energy to a “strong-buy” rating in a research note on Tuesday, March 10th. Scotiabank set a $175.00 target price on shares of Diamondback Energy in a research report on Friday, January 16th. Morgan Stanley dropped their price target on shares of Diamondback Energy from $183.00 to $171.00 and set an “overweight” rating on the stock in a research note on Friday, January 23rd. Susquehanna raised their price target on shares of Diamondback Energy from $182.00 to $199.00 and gave the company a “positive” rating in a report on Wednesday, February 25th. Finally, Citigroup reduced their price objective on shares of Diamondback Energy from $180.00 to $178.00 and set a “buy” rating for the company in a research note on Tuesday, January 6th. Three research analysts have rated the stock with a Strong Buy rating, twenty have given a Buy rating and three have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Buy” and an average target price of $193.38.

Diamondback Energy Stock Down 0.0%

FANG opened at $182.33 on Tuesday. The firm has a market cap of $51.29 billion, a P/E ratio of 32.50 and a beta of 0.59. The company has a debt-to-equity ratio of 0.32, a quick ratio of 0.40 and a current ratio of 0.42. The business has a 50 day moving average price of $164.84 and a 200 day moving average price of $152.75. Diamondback Energy, Inc. has a twelve month low of $114.00 and a twelve month high of $186.65.

Diamondback Energy (NASDAQ:FANG) last announced its quarterly earnings results on Monday, February 23rd. The oil and natural gas company reported $1.74 EPS for the quarter, missing the consensus estimate of $2.00 by ($0.26). Diamondback Energy had a net margin of 11.07% and a return on equity of 8.08%. The company had revenue of $3.38 billion for the quarter, compared to analyst estimates of $3.41 billion. During the same quarter last year, the business earned $3.67 EPS. The company’s revenue for the quarter was down 9.0% on a year-over-year basis. Research analysts forecast that Diamondback Energy, Inc. will post 15.49 EPS for the current year.

Diamondback Energy Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, March 12th. Investors of record on Thursday, March 5th were paid a $1.05 dividend. This represents a $4.20 dividend on an annualized basis and a yield of 2.3%. The ex-dividend date was Thursday, March 5th. This is a boost from Diamondback Energy’s previous quarterly dividend of $1.00. Diamondback Energy’s dividend payout ratio (DPR) is 74.87%.

About Diamondback Energy

Diamondback Energy, Inc (NASDAQ: FANG) is an independent oil and natural gas company focused on the development, exploration and production of unconventional resources in the Permian Basin. Headquartered in Midland, Texas, the company concentrates its operations in the core Midland and Delaware sub?basins of West Texas and southeastern New Mexico, where it pursues contiguous acreage positions to support repeatable drilling programs.

Diamondback’s activities span the upstream value chain, including leasehold acquisition, well planning, drilling, completion and production optimization.