GDS Wealth Management Has $14.40 Million Stake in Diamondback Energy, Inc. $FANG

GDS Wealth Management raised its stake in shares of Diamondback Energy, Inc. (NASDAQ:FANG) by 7.9% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 100,641 shares of the oil and natural gas company’s stock after buying an additional 7,357 shares during the quarter. GDS Wealth Management’s holdings in Diamondback Energy were worth $14,402,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of the company. Creekmur Asset Management LLC bought a new stake in Diamondback Energy in the second quarter valued at approximately $28,000. E Fund Management Hong Kong Co. Ltd. increased its position in shares of Diamondback Energy by 106.3% in 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 buying an additional 102 shares in the last quarter. Twin Peaks Wealth Advisors LLC acquired a new stake in Diamondback Energy during the 2nd quarter worth $29,000. Salomon & Ludwin LLC bought a new position in Diamondback Energy during the third quarter worth about $31,000. Finally, Estabrook Capital Management acquired a new position in Diamondback Energy in the second quarter valued at about $41,000. 90.01% of the stock is currently owned by institutional investors and hedge funds.

Diamondback Energy Price Performance

NASDAQ FANG opened at $154.02 on Friday. The company has a quick ratio of 0.60, a current ratio of 0.62 and a debt-to-equity ratio of 0.35. Diamondback Energy, Inc. has a 12-month low of $114.00 and a 12-month high of $177.69. The company has a market capitalization of $44.11 billion, a PE ratio of 10.70 and a beta of 0.59. The firm’s 50 day moving average is $150.90 and its 200-day moving average is $145.69.

Diamondback Energy (NASDAQ:FANG) last announced its earnings results on Monday, November 3rd. The oil and natural gas company reported $3.08 EPS for the quarter, topping the consensus estimate of $2.94 by $0.14. Diamondback Energy had a net margin of 27.32% and a return on equity of 9.57%. The business had revenue of $3.92 billion during the quarter, compared to analysts’ expectations of $3.48 billion. During the same quarter in the prior year, the company posted $3.19 earnings per share. The firm’s revenue was up 48.4% on a year-over-year basis. Equities research analysts anticipate that Diamondback Energy, Inc. will post 15.49 earnings per share for the current fiscal year.

Diamondback Energy Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, November 20th. Investors of record on Thursday, November 13th were given a $1.00 dividend. The ex-dividend date of this dividend was Thursday, November 13th. This represents a $4.00 dividend on an annualized basis and a dividend yield of 2.6%. Diamondback Energy’s payout ratio is currently 27.80%.

Insider Transactions at Diamondback Energy

In related news, Director Charles Alvin Meloy sold 377,911 shares of the stock in a transaction that occurred on Thursday, December 4th. The stock was sold at an average price of $138.61, for a total transaction of $52,382,243.71. Following the completion of the transaction, the director directly owned 1,044,864 shares of the company’s stock, valued at approximately $144,828,599.04. This represents a 26.56% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 0.70% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have issued reports on FANG shares. Susquehanna lowered their price target on Diamondback Energy to $188.00 and set a “positive” rating for the company in a report on Monday, October 20th. Scotiabank set a $175.00 target price on shares of Diamondback Energy in a report on Friday, January 16th. Citigroup cut their price target on shares of Diamondback Energy from $180.00 to $178.00 and set a “buy” rating on the stock in a research note on Tuesday, January 6th. Evercore ISI upped their price target on shares of Diamondback Energy from $165.00 to $175.00 and gave the company an “outperform” rating in a report on Monday, October 6th. Finally, UBS Group increased their price objective on shares of Diamondback Energy from $174.00 to $194.00 and gave the stock a “buy” rating in a research report on Friday, December 12th. One analyst has rated the stock with a Strong Buy rating, nineteen have issued a Buy rating and two have assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $185.67.

Diamondback Energy Profile

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.