Diamondback Energy, Inc. (NASDAQ:FANG) Shares Bought by First National Advisers LLC

First National Advisers LLC increased its stake in Diamondback Energy, Inc. (NASDAQ:FANG) by 30.8% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 14,936 shares of the oil and natural gas company’s stock after acquiring an additional 3,520 shares during the period. First National Advisers LLC’s holdings in Diamondback Energy were worth $2,447,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of the stock. Raymond James Financial Inc. purchased a new position in shares of Diamondback Energy during the fourth quarter worth about $298,327,000. Assenagon Asset Management S.A. lifted its position in Diamondback Energy by 1,153.0% in the fourth quarter. Assenagon Asset Management S.A. now owns 1,132,918 shares of the oil and natural gas company’s stock valued at $185,606,000 after purchasing an additional 1,042,505 shares during the period. Diamond Hill Capital Management Inc. lifted its position in Diamondback Energy by 30.5% in the fourth quarter. Diamond Hill Capital Management Inc. now owns 2,817,554 shares of the oil and natural gas company’s stock valued at $461,600,000 after purchasing an additional 658,644 shares during the period. Zimmer Partners LP acquired a new stake in shares of Diamondback Energy during the 3rd quarter valued at approximately $87,924,000. Finally, Bank of New York Mellon Corp lifted its position in shares of Diamondback Energy by 13.7% during the 4th quarter. Bank of New York Mellon Corp now owns 4,163,070 shares of the oil and natural gas company’s stock valued at $682,036,000 after acquiring an additional 502,916 shares during the period. 90.01% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Diamondback Energy

In other news, Director Frank D. Tsuru acquired 2,000 shares of the stock in a transaction on Friday, February 28th. The stock was acquired at an average price of $156.51 per share, with a total value of $313,020.00. Following the completion of the transaction, the director now owns 5,730 shares of the company’s stock, valued at $896,802.30. This represents a 53.62 % increase in their position. The purchase was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Company insiders own 0.48% of the company’s stock.

Analysts Set New Price Targets

FANG has been the subject of several research reports. Citigroup downgraded Diamondback Energy from a “buy” rating to a “reduce” rating in a research report on Wednesday, March 5th. Morgan Stanley upped their price objective on shares of Diamondback Energy from $220.00 to $227.00 and gave the company an “overweight” rating in a research report on Wednesday, February 19th. Mizuho increased their price target on shares of Diamondback Energy from $201.00 to $204.00 and gave the stock an “outperform” rating in a research report on Tuesday, February 25th. Truist Financial increased their price objective on shares of Diamondback Energy from $236.00 to $238.00 and gave the stock a “buy” rating in a research note on Wednesday, February 19th. Finally, Raymond James dropped their price target on shares of Diamondback Energy from $245.00 to $214.00 and set a “strong-buy” rating on the stock in a research note on Wednesday. One research analyst has rated the stock with a sell rating, three have issued a hold rating, eighteen have given a buy rating and two have given a strong buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $211.92.

Diamondback Energy Price Performance

FANG opened at $150.20 on Friday. The firm’s fifty day moving average price is $162.00 and its two-hundred day moving average price is $171.69. 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 company has a market capitalization of $43.47 billion, a price-to-earnings ratio of 8.60, a P/E/G ratio of 1.24 and a beta of 1.84. Diamondback Energy, Inc. has a 1 year low of $137.09 and a 1 year high of $214.50.

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

Diamondback Energy Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, March 13th. Stockholders of record on Thursday, March 6th were issued a $1.00 dividend. This is a boost from Diamondback Energy’s previous quarterly dividend of $0.90. The ex-dividend date of this dividend was Thursday, March 6th. This represents a $4.00 annualized dividend and a dividend yield of 2.66%. Diamondback Energy’s dividend payout ratio (DPR) is currently 25.32%.

Diamondback Energy Company 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.