Daiwa Securities Group Inc. Boosts Holdings in Diamondback Energy, Inc. (NASDAQ:FANG)

Daiwa Securities Group Inc. raised its stake in shares of Diamondback Energy, Inc. (NASDAQ:FANG) by 32.7% in the fourth quarter, according to its most recent 13F filing with the SEC. The fund owned 45,144 shares of the oil and natural gas company’s stock after buying an additional 11,115 shares during the period. Daiwa Securities Group Inc.’s holdings in Diamondback Energy were worth $7,396,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also modified their holdings of the stock. Moran Wealth Management LLC lifted its holdings in Diamondback Energy by 1.1% in the fourth quarter. Moran Wealth Management LLC now owns 26,042 shares of the oil and natural gas company’s stock valued at $4,266,000 after acquiring an additional 278 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in shares of Diamondback Energy by 1.1% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 36,597 shares of the oil and natural gas company’s stock valued at $5,996,000 after purchasing an additional 405 shares during the period. SLT Holdings LLC purchased a new stake in Diamondback Energy during the fourth quarter worth $513,000. Amundi grew its position in Diamondback Energy by 1.6% during the fourth quarter. Amundi now owns 691,498 shares of the oil and natural gas company’s stock valued at $118,239,000 after buying an additional 10,737 shares during the period. Finally, Larson Financial Group LLC increased its holdings in Diamondback Energy by 9.4% in the fourth quarter. Larson Financial Group LLC now owns 17,716 shares of the oil and natural gas company’s stock valued at $2,902,000 after buying an additional 1,517 shares in the last quarter. Institutional investors and hedge funds own 90.01% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have recently commented on the company. Truist Financial raised their target price on Diamondback Energy from $236.00 to $238.00 and gave the company a “buy” rating in a research report on Wednesday, February 19th. Mizuho boosted their price objective on Diamondback Energy from $201.00 to $204.00 and gave the company an “outperform” rating in a research report on Tuesday, February 25th. Raymond James increased their target price on Diamondback Energy from $237.00 to $256.00 and gave the company a “strong-buy” rating in a research report on Thursday, January 23rd. JPMorgan Chase & Co. upped their price objective on shares of Diamondback Energy from $191.00 to $195.00 and gave the stock an “overweight” rating in a research report on Friday, January 17th. Finally, Royal Bank of Canada reiterated an “outperform” rating and issued a $210.00 target price on shares of Diamondback Energy in a research report on Thursday, January 23rd. One research analyst has rated the stock with a sell rating, three have given a hold rating, eighteen have assigned a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $215.00.

Diamondback Energy Price Performance

FANG stock opened at $144.65 on Wednesday. Diamondback Energy, Inc. has a 52-week low of $137.09 and a 52-week high of $214.50. The business has a fifty day moving average of $163.18 and a two-hundred day moving average of $172.54. The stock has a market cap of $41.87 billion, a price-to-earnings ratio of 8.28, a price-to-earnings-growth ratio of 1.24 and a beta of 1.84. The company has a quick ratio of 0.42, a current ratio of 0.45 and a debt-to-equity ratio of 0.31.

Diamondback Energy (NASDAQ:FANG) last issued its quarterly earnings data on Tuesday, February 25th. The oil and natural gas company reported $3.64 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.57 by $0.07. The firm had revenue of $3.71 billion for the quarter, compared to analyst estimates of $3.55 billion. Diamondback Energy had a net margin of 33.64% and a return on equity of 13.68%. As a group, research analysts anticipate that Diamondback Energy, Inc. will post 15.49 earnings per share for the current year.

Diamondback Energy Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, March 13th. Investors of record on Thursday, March 6th will be issued a $1.00 dividend. This represents a $4.00 annualized dividend and a yield of 2.77%. The ex-dividend date of this dividend is Thursday, March 6th. This is an increase from Diamondback Energy’s previous quarterly dividend of $0.90. Diamondback Energy’s dividend payout ratio (DPR) is 25.32%.

Insider Buying and Selling at Diamondback Energy

In other Diamondback Energy news, Director Frank D. Tsuru bought 2,000 shares of the business’s stock in a transaction that occurred on Friday, February 28th. The shares were purchased at an average cost of $156.51 per share, with a total value of $313,020.00. Following the purchase, the director now directly owns 5,730 shares in the company, valued at approximately $896,802.30. This represents a 53.62 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 0.48% of the stock is owned by corporate insiders.

Diamondback Energy Profile

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.