Moody National Bank Trust Division Sells 89 Shares of Diamondback Energy, Inc. (NASDAQ:FANG)

Moody National Bank Trust Division cut its position in shares of Diamondback Energy, Inc. (NASDAQ:FANG) by 1.0% in the second quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 9,155 shares of the oil and natural gas company’s stock after selling 89 shares during the quarter. Moody National Bank Trust Division’s holdings in Diamondback Energy were worth $1,203,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of FANG. Focused Wealth Management Inc raised its holdings in shares of Diamondback Energy by 111.8% in the first quarter. Focused Wealth Management Inc now owns 190 shares of the oil and natural gas company’s stock valued at $26,000 after purchasing an additional 1,800 shares during the last quarter. Accel Wealth Management acquired a new stake in Diamondback Energy in the 1st quarter valued at $27,000. FinTrust Capital Advisors LLC boosted its stake in shares of Diamondback Energy by 232.8% during the 4th quarter. FinTrust Capital Advisors LLC now owns 213 shares of the oil and natural gas company’s stock worth $29,000 after buying an additional 149 shares during the last quarter. Carolinas Wealth Consulting LLC boosted its stake in shares of Diamondback Energy by 366.7% during the 1st quarter. Carolinas Wealth Consulting LLC now owns 224 shares of the oil and natural gas company’s stock worth $31,000 after buying an additional 176 shares during the last quarter. Finally, Trust Co. of Vermont acquired a new stake in shares of Diamondback Energy in the first quarter valued at about $41,000. Institutional investors and hedge funds own 87.84% of the company’s stock.

Wall Street Analysts Forecast Growth

FANG has been the topic of several recent analyst reports. Benchmark started coverage on Diamondback Energy in a research report on Wednesday, July 12th. They set a “buy” rating and a $154.00 price target on the stock. Raymond James boosted their price objective on shares of Diamondback Energy from $173.00 to $191.00 and gave the stock a “strong-buy” rating in a research note on Thursday. Morgan Stanley raised their target price on shares of Diamondback Energy from $154.00 to $163.00 and gave the company an “overweight” rating in a research note on Friday, August 18th. Stifel Nicolaus upped their price objective on Diamondback Energy from $178.00 to $179.00 and gave the company a “buy” rating in a research note on Friday, August 18th. Finally, Truist Financial lifted their target price on Diamondback Energy from $182.00 to $185.00 and gave the stock a “buy” rating in a research note on Wednesday, August 2nd. One equities research analyst has rated the stock with a sell rating, two have given a hold rating, seventeen have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, Diamondback Energy has a consensus rating of “Moderate Buy” and an average price target of $177.39.

Insider Transactions at Diamondback Energy

In related news, CFO Hof Matthew Kaes Van’t sold 9,000 shares of the company’s stock in a transaction dated Friday, August 4th. The stock was sold at an average price of $148.98, for a total transaction of $1,340,820.00. Following the sale, the chief financial officer now owns 155,980 shares in the company, valued at approximately $23,237,900.40. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other Diamondback Energy news, CFO Hof Matthew Kaes Van’t sold 9,000 shares of the stock in a transaction that occurred on Friday, August 4th. The stock was sold at an average price of $148.98, for a total value of $1,340,820.00. Following the transaction, the chief financial officer now owns 155,980 shares in the company, valued at $23,237,900.40. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, EVP Matt Zmigrosky sold 2,706 shares of the business’s stock in a transaction that occurred on Tuesday, September 12th. The shares were sold at an average price of $157.17, for a total value of $425,302.02. Following the sale, the executive vice president now owns 27,480 shares of the company’s stock, valued at approximately $4,319,031.60. The disclosure for this sale can be found here. Insiders sold a total of 37,518 shares of company stock worth $5,695,092 over the last three months. 0.43% of the stock is owned by company insiders.

Diamondback Energy Stock Performance

NASDAQ:FANG opened at $155.75 on Friday. The company has a quick ratio of 0.40, a current ratio of 0.43 and a debt-to-equity ratio of 0.40. The firm has a market capitalization of $27.85 billion, a PE ratio of 8.08, a price-to-earnings-growth ratio of 0.41 and a beta of 2.04. Diamondback Energy, Inc. has a twelve month low of $110.97 and a twelve month high of $168.95. The stock’s 50-day simple moving average is $147.30 and its 200 day simple moving average is $138.50.

Diamondback Energy (NASDAQ:FANG) last announced its quarterly earnings results on Monday, July 31st. The oil and natural gas company reported $3.68 EPS for the quarter, missing analysts’ consensus estimates of $3.92 by ($0.24). The firm had revenue of $1.92 billion for the quarter, compared to analyst estimates of $1.90 billion. Diamondback Energy had a net margin of 41.62% and a return on equity of 22.43%. The business’s revenue for the quarter was down 30.7% compared to the same quarter last year. During the same period in the previous year, the business posted $7.07 earnings per share. On average, analysts anticipate that Diamondback Energy, Inc. will post 17.34 EPS for the current fiscal year.

Diamondback Energy Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, August 17th. Shareholders of record on Thursday, August 10th were issued a dividend of $0.84 per share. This is a positive change from Diamondback Energy’s previous quarterly dividend of $0.80. The ex-dividend date was Wednesday, August 9th. This represents a $3.36 annualized dividend and a yield of 2.16%. Diamondback Energy’s dividend payout ratio (DPR) is presently 17.44%.

Diamondback Energy Profile

Diamondback Energy, Inc, an independent oil and natural gas company, focuses on the acquisition, development, exploration, and exploitation of unconventional and 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.