Diamondback Energy, Inc. (NASDAQ:FANG) Shares Sold by American Century Companies Inc.

American Century Companies Inc. lessened its position in Diamondback Energy, Inc. (NASDAQ:FANG) by 2.0% in the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 541,842 shares of the oil and natural gas company’s stock after selling 11,090 shares during the period. American Century Companies Inc.’s holdings in Diamondback Energy were worth $88,770,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also modified their holdings of the company. Wintrust Investments LLC purchased a new stake in Diamondback Energy in the 4th quarter worth approximately $28,000. R Squared Ltd acquired a new stake in shares of Diamondback Energy during the fourth quarter worth $29,000. UMB Bank n.a. grew its position in shares of Diamondback Energy by 247.3% in the fourth quarter. UMB Bank n.a. now owns 191 shares of the oil and natural gas company’s stock valued at $31,000 after purchasing an additional 136 shares during the period. Key Financial Inc increased its stake in Diamondback Energy by 940.0% in the fourth quarter. Key Financial Inc now owns 208 shares of the oil and natural gas company’s stock valued at $34,000 after purchasing an additional 188 shares during the last quarter. Finally, Rakuten Securities Inc. lifted its position in Diamondback Energy by 62.4% during the fourth quarter. Rakuten Securities Inc. now owns 276 shares of the oil and natural gas company’s stock worth $45,000 after buying an additional 106 shares during the period. Hedge funds and other institutional investors own 90.01% of the company’s stock.

Wall Street Analyst Weigh In

FANG has been the subject of several recent analyst reports. Truist Financial lifted their price target on Diamondback Energy from $236.00 to $238.00 and gave the company a “buy” rating in a report on Wednesday, February 19th. Williams Trading set a $190.00 price target on shares of Diamondback Energy in a research report on Wednesday, March 5th. Mizuho lifted their price target on shares of Diamondback Energy from $201.00 to $204.00 and gave the company an “outperform” rating in a report on Tuesday, February 25th. Morgan Stanley upped their price objective on Diamondback Energy from $220.00 to $227.00 and gave the stock an “overweight” rating in a report on Wednesday, February 19th. Finally, The Goldman Sachs Group started coverage on Diamondback Energy in a research report on Monday, December 2nd. They issued a “buy” rating and a $227.00 target price on the stock. Four investment analysts have rated the stock with a hold rating, eighteen have issued a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Diamondback Energy presently has a consensus rating of “Moderate Buy” and a consensus price target of $209.92.

Diamondback Energy Stock Performance

Diamondback Energy stock opened at $161.01 on Tuesday. The company has a current ratio of 0.45, a quick ratio of 0.42 and a debt-to-equity ratio of 0.31. The stock has a 50 day moving average of $160.14 and a 200-day moving average of $170.13. The stock has a market cap of $46.60 billion, a P/E ratio of 9.22, a price-to-earnings-growth ratio of 1.24 and a beta of 1.85. Diamondback Energy, Inc. has a 52 week low of $137.09 and a 52 week high of $214.50.

Diamondback Energy (NASDAQ:FANG) last announced its quarterly earnings data on Tuesday, February 25th. The oil and natural gas company reported $3.64 earnings per share for the quarter, topping the consensus estimate of $3.57 by $0.07. The company had revenue of $3.71 billion during 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%. On average, analysts expect that Diamondback Energy, Inc. will post 15.49 EPS for the current fiscal year.

Diamondback Energy Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, March 13th. Investors of record on Thursday, March 6th were issued a $1.00 dividend. This is a positive change from Diamondback Energy’s previous quarterly dividend of $0.90. This represents a $4.00 annualized dividend and a yield of 2.48%. The ex-dividend date was Thursday, March 6th. Diamondback Energy’s payout ratio is currently 25.32%.

Insider Buying and Selling at Diamondback Energy

In other news, Director Frank D. Tsuru purchased 2,000 shares of the stock in a transaction dated Friday, February 28th. The stock was acquired at an average cost of $156.51 per share, for a total transaction of $313,020.00. Following the acquisition, the director now owns 5,730 shares of the company’s stock, valued at $896,802.30. The trade was a 53.62 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is accessible through this link. 0.48% of the stock is currently owned by 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.