ORG Wealth Partners LLC Trims Holdings in Diamondback Energy, Inc. $FANG

ORG Wealth Partners LLC lessened its stake in Diamondback Energy, Inc. (NASDAQ:FANG) by 18.6% during the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 912 shares of the oil and natural gas company’s stock after selling 208 shares during the period. ORG Wealth Partners LLC’s holdings in Diamondback Energy were worth $128,000 as of its most recent SEC filing.

Other hedge funds also recently bought and sold shares of the company. Investor s Fiduciary Advisor Network LLC lifted its holdings in shares of Diamondback Energy by 2.1% during the 1st quarter. Investor s Fiduciary Advisor Network LLC now owns 3,559 shares of the oil and natural gas company’s stock worth $569,000 after acquiring an additional 74 shares during the period. Mesirow Financial Investment Management Inc. lifted its stake in Diamondback Energy by 5.6% in the first quarter. Mesirow Financial Investment Management Inc. now owns 1,414 shares of the oil and natural gas company’s stock worth $226,000 after purchasing an additional 75 shares during the last quarter. FourThought Financial Partners LLC boosted its holdings in shares of Diamondback Energy by 2.9% during the 1st quarter. FourThought Financial Partners LLC now owns 2,779 shares of the oil and natural gas company’s stock valued at $444,000 after buying an additional 78 shares in the last quarter. Grove Bank & Trust increased its position in shares of Diamondback Energy by 65.0% during the 1st quarter. Grove Bank & Trust now owns 203 shares of the oil and natural gas company’s stock valued at $32,000 after purchasing an additional 80 shares during the last quarter. Finally, Biondo Investment Advisors LLC raised its stake in Diamondback Energy by 0.3% during the 1st quarter. Biondo Investment Advisors LLC now owns 28,858 shares of the oil and natural gas company’s stock worth $4,614,000 after acquiring an additional 80 shares during the period. Hedge funds and other institutional investors own 90.01% of the company’s stock.

Insider Activity

In other news, Chairman Travis D. Stice sold 20,400 shares of the firm’s stock in a transaction that occurred on Thursday, August 7th. The shares were sold at an average price of $142.80, for a total value of $2,913,120.00. Following the completion of the transaction, the chairman directly owned 102,145 shares in the company, valued at approximately $14,586,306. This trade represents a 16.65% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.70% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

FANG has been the topic of a number of research reports. Wells Fargo & Company increased their price objective on Diamondback Energy from $210.00 to $211.00 and gave the company an “overweight” rating in a report on Thursday, August 14th. KeyCorp dropped their price objective on shares of Diamondback Energy from $180.00 to $176.00 and set an “overweight” rating on the stock in a research report on Wednesday, September 3rd. Piper Sandler decreased their price target on shares of Diamondback Energy from $228.00 to $222.00 and set an “overweight” rating for the company in a research note on Thursday, August 14th. Scotiabank reaffirmed an “outperform” rating on shares of Diamondback Energy in a report on Friday, July 11th. Finally, Mizuho decreased their target price on Diamondback Energy from $183.00 to $176.00 and set an “outperform” rating on the stock in a research report on Monday, September 15th. Two equities research analysts have rated the stock with a Strong Buy rating and twenty-one have issued a Buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Buy” and a consensus price target of $193.39.

Diamondback Energy Trading Up 1.7%

Shares of NASDAQ:FANG opened at $148.25 on Friday. Diamondback Energy, Inc. has a 52-week low of $114.00 and a 52-week high of $200.47. The company has a market cap of $42.92 billion, a P/E ratio of 10.54 and a beta of 1.14. The company has a debt-to-equity ratio of 0.35, a quick ratio of 0.52 and a current ratio of 0.55. The stock’s 50-day moving average is $142.75 and its 200-day moving average is $141.81.

Diamondback Energy (NASDAQ:FANG) last announced its quarterly earnings data on Monday, August 4th. The oil and natural gas company reported $2.67 earnings per share for the quarter, missing the consensus estimate of $2.72 by ($0.05). Diamondback Energy had a net margin of 27.25% and a return on equity of 9.48%. The business had revenue of $3.68 billion during the quarter, compared to analyst estimates of $3.35 billion. During the same quarter in the prior year, the company earned $4.52 earnings per share. The company’s quarterly revenue was up 48.1% on a year-over-year basis. Equities research analysts predict that Diamondback Energy, Inc. will post 15.49 earnings per share for the current year.

Diamondback Energy Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, August 21st. Stockholders of record on Thursday, August 14th were paid a $1.00 dividend. This represents a $4.00 dividend on an annualized basis and a dividend yield of 2.7%. The ex-dividend date was Thursday, August 14th. Diamondback Energy’s payout ratio is presently 28.43%.

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.