Venturi Wealth Management LLC Sells 455 Shares of Diamondback Energy, Inc. (NASDAQ:FANG)

Venturi Wealth Management LLC lowered its stake in shares of Diamondback Energy, Inc. (NASDAQ:FANG) by 39.2% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 705 shares of the oil and natural gas company’s stock after selling 455 shares during the quarter. Venturi Wealth Management LLC’s holdings in Diamondback Energy were worth $122,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in FANG. Quent Capital LLC raised its position in shares of Diamondback Energy by 7.2% in the 2nd quarter. Quent Capital LLC now owns 809 shares of the oil and natural gas company’s stock worth $162,000 after acquiring an additional 54 shares in the last quarter. Carolinas Wealth Consulting LLC grew its stake in Diamondback Energy by 67.1% in the second quarter. Carolinas Wealth Consulting LLC now owns 137 shares of the oil and natural gas company’s stock worth $27,000 after purchasing an additional 55 shares during the period. Financial Advocates Investment Management raised its holdings in Diamondback Energy by 3.0% in the third quarter. Financial Advocates Investment Management now owns 1,907 shares of the oil and natural gas company’s stock worth $329,000 after purchasing an additional 55 shares in the last quarter. Sugarloaf Wealth Management LLC lifted its position in Diamondback Energy by 0.3% during the second quarter. Sugarloaf Wealth Management LLC now owns 19,975 shares of the oil and natural gas company’s stock valued at $3,999,000 after buying an additional 56 shares during the period. Finally, Versant Capital Management Inc boosted its holdings in shares of Diamondback Energy by 16.1% during the 2nd quarter. Versant Capital Management Inc now owns 412 shares of the oil and natural gas company’s stock valued at $82,000 after buying an additional 57 shares in the last quarter. 90.01% of the stock is owned by institutional investors.

Insider Buying and Selling

In other news, major shareholder Lyndal Greth sold 13,212,830 shares of the company’s stock in a transaction dated Monday, September 23rd. The stock was sold at an average price of $175.11, for a total value of $2,313,698,661.30. Following the completion of the transaction, the insider now owns 1,037,819 shares of the company’s stock, valued at $181,732,485.09. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. 0.48% of the stock is currently owned by insiders.

Diamondback Energy Trading Up 1.3 %

Shares of Diamondback Energy stock opened at $182.24 on Thursday. Diamondback Energy, Inc. has a 1-year low of $145.70 and a 1-year high of $214.50. The company’s fifty day simple moving average is $181.30 and its 200-day simple moving average is $191.76. The company has a debt-to-equity ratio of 0.31, a current ratio of 0.45 and a quick ratio of 0.42. The stock has a market capitalization of $53.21 billion, a PE ratio of 10.43, a P/E/G ratio of 1.27 and a beta of 1.89.

Diamondback Energy (NASDAQ:FANG) last posted its quarterly earnings data on Monday, November 4th. The oil and natural gas company reported $3.38 earnings per share for the quarter, missing analysts’ consensus estimates of $4.62 by ($1.24). Diamondback Energy had a net margin of 33.64% and a return on equity of 13.68%. The company had revenue of $2.65 billion for the quarter, compared to analysts’ expectations of $2.43 billion. During the same period in the previous year, the firm earned $5.49 earnings per share. The firm’s quarterly revenue was up 13.0% on a year-over-year basis. As a group, equities analysts anticipate that Diamondback Energy, Inc. will post 17 earnings per share for the current year.

Diamondback Energy Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, November 21st. Investors of record on Thursday, November 14th will be paid a dividend of $0.90 per share. This represents a $3.60 dividend on an annualized basis and a dividend yield of 1.98%. The ex-dividend date of this dividend is Thursday, November 14th. Diamondback Energy’s dividend payout ratio (DPR) is 20.61%.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on FANG shares. Jefferies Financial Group initiated coverage on shares of Diamondback Energy in a research note on Monday, September 16th. They issued a “hold” rating and a $185.00 price target for the company. Evercore ISI dropped their price target on Diamondback Energy from $235.00 to $209.00 and set an “outperform” rating on the stock in a research report on Monday, September 30th. Bank of America raised their price objective on Diamondback Energy from $201.00 to $215.00 and gave the company a “neutral” rating in a research report on Tuesday, July 23rd. Scotiabank dropped their target price on Diamondback Energy from $245.00 to $225.00 and set a “sector outperform” rating on the stock in a report on Thursday, October 10th. Finally, Sanford C. Bernstein reduced their price target on Diamondback Energy from $243.00 to $236.00 and set an “outperform” rating for the company in a report on Wednesday, July 17th. One investment analyst has rated the stock with a sell rating, five have given a hold rating, seventeen have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, Diamondback Energy presently has an average rating of “Moderate Buy” and a consensus price target of $209.64.

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.