Avior Wealth Management LLC Has $297,000 Stock Holdings in Diamondback Energy, Inc. (NASDAQ:FANG)

Avior Wealth Management LLC raised its stake in Diamondback Energy, Inc. (NASDAQ:FANG) by 128.7% during the 4th quarter, Holdings Channel reports. The institutional investor owned 1,912 shares of the oil and natural gas company’s stock after purchasing an additional 1,076 shares during the quarter. Avior Wealth Management LLC’s holdings in Diamondback Energy were worth $297,000 as of its most recent SEC filing.

Several other large investors have also recently added to or reduced their stakes in the stock. Wellington Management Group LLP increased its stake in Diamondback Energy by 4.8% in the 3rd quarter. Wellington Management Group LLP now owns 14,266,640 shares of the oil and natural gas company’s stock valued at $2,209,617,000 after buying an additional 648,317 shares during the period. State Street Corp increased its stake in Diamondback Energy by 1.0% in the 1st quarter. State Street Corp now owns 11,656,848 shares of the oil and natural gas company’s stock valued at $1,575,653,000 after buying an additional 112,297 shares during the period. Geode Capital Management LLC increased its stake in Diamondback Energy by 4.8% in the 1st quarter. Geode Capital Management LLC now owns 3,919,925 shares of the oil and natural gas company’s stock valued at $528,736,000 after buying an additional 179,405 shares during the period. Morgan Stanley increased its stake in Diamondback Energy by 2.5% in the 4th quarter. Morgan Stanley now owns 3,572,083 shares of the oil and natural gas company’s stock valued at $488,590,000 after buying an additional 85,618 shares during the period. Finally, Invesco Ltd. grew its position in Diamondback Energy by 6.6% in the third quarter. Invesco Ltd. now owns 3,320,567 shares of the oil and natural gas company’s stock worth $514,289,000 after acquiring an additional 206,189 shares in the last quarter. Institutional investors and hedge funds own 90.01% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have commented on the stock. Scotiabank boosted their target price on shares of Diamondback Energy from $210.00 to $255.00 and gave the stock a “sector outperform” rating in a research report on Thursday, April 11th. Evercore ISI boosted their target price on shares of Diamondback Energy from $185.00 to $215.00 and gave the stock an “outperform” rating in a research report on Monday, March 25th. Susquehanna boosted their target price on shares of Diamondback Energy from $190.00 to $195.00 and gave the stock a “positive” rating in a research report on Tuesday, February 13th. Stifel Nicolaus boosted their target price on shares of Diamondback Energy from $192.00 to $224.00 and gave the stock a “buy” rating in a research report on Friday, March 22nd. Finally, Bank Of America (Bofa) decreased their target price on shares of Diamondback Energy from $147.00 to $129.00 and set an “underperform” rating for the company in a research report on Thursday, January 18th. One research analyst has rated the stock with a sell rating, five have given a hold rating, fourteen have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $196.95.

Diamondback Energy Price Performance

Shares of Diamondback Energy stock opened at $200.74 on Friday. The company has a debt-to-equity ratio of 0.38, a current ratio of 0.77 and a quick ratio of 0.74. Diamondback Energy, Inc. has a fifty-two week low of $123.41 and a fifty-two week high of $211.96. The firm has a fifty day moving average price of $189.90 and a two-hundred day moving average price of $167.56. The company has a market cap of $35.80 billion, a PE ratio of 11.58 and a beta of 1.93.

Diamondback Energy (NASDAQ:FANG) last issued its quarterly earnings results on Tuesday, February 20th. The oil and natural gas company reported $4.74 earnings per share for the quarter, beating analysts’ consensus estimates of $4.61 by $0.13. Diamondback Energy had a net margin of 37.36% and a return on equity of 19.56%. The firm had revenue of $2.23 billion during the quarter, compared to the consensus estimate of $2.16 billion. During the same period in the prior year, the firm earned $5.29 EPS. The business’s revenue was up 9.8% on a year-over-year basis. Analysts expect that Diamondback Energy, Inc. will post 18.53 EPS for the current year.

Diamondback Energy Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, March 12th. Shareholders of record on Tuesday, March 5th were issued a $3.08 dividend. The ex-dividend date was Monday, March 4th. This is an increase from Diamondback Energy’s previous quarterly dividend of $0.84. This represents a $12.32 dividend on an annualized basis and a yield of 6.14%. Diamondback Energy’s dividend payout ratio is 20.76%.

Insider Activity

In other news, CAO Teresa L. Dick sold 2,000 shares of the stock in a transaction on Wednesday, March 20th. The shares were sold at an average price of $192.00, for a total value of $384,000.00. Following the completion of the transaction, the chief accounting officer now owns 96,523 shares in the company, valued at approximately $18,532,416. The sale was disclosed in a filing with the SEC, which is available at this link. In other news, CEO Travis D. Stice sold 30,000 shares of the stock in a transaction on Tuesday, April 2nd. The shares were sold at an average price of $200.00, for a total value of $6,000,000.00. Following the completion of the transaction, the chief executive officer now owns 446,610 shares in the company, valued at approximately $89,322,000. The sale was disclosed in a filing with the SEC, which is available at this link. Also, CAO Teresa L. Dick sold 2,000 shares of the stock in a transaction dated Wednesday, March 20th. The stock was sold at an average price of $192.00, for a total transaction of $384,000.00. Following the sale, the chief accounting officer now owns 96,523 shares of the company’s stock, valued at approximately $18,532,416. The disclosure for this sale can be found here. In the last 90 days, insiders sold 57,675 shares of company stock worth $11,311,096. 0.43% of the stock is currently owned by corporate insiders.

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.