Diamondback Energy, Inc. (NASDAQ:FANG) Position Decreased by Adams Natural Resources Fund Inc.

Adams Natural Resources Fund Inc. decreased its holdings in shares of Diamondback Energy, Inc. (NASDAQ:FANG - Free Report) by 14.5% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 79,400 shares of the oil and natural gas company's stock after selling 13,500 shares during the quarter. Diamondback Energy comprises approximately 2.1% of Adams Natural Resources Fund Inc.'s holdings, making the stock its 14th biggest holding. Adams Natural Resources Fund Inc.'s holdings in Diamondback Energy were worth $13,008,000 as of its most recent SEC filing.

A number of other institutional investors have also recently added to or reduced their stakes in the business. Mutual of America Capital Management LLC grew its position in Diamondback Energy by 2.6% in the third quarter. Mutual of America Capital Management LLC now owns 23,098 shares of the oil and natural gas company's stock valued at $3,982,000 after acquiring an additional 588 shares in the last quarter. Prospera Financial Services Inc grew its holdings in Diamondback Energy by 56.9% during the 3rd quarter. Prospera Financial Services Inc now owns 4,553 shares of the oil and natural gas company's stock valued at $786,000 after purchasing an additional 1,651 shares in the last quarter. Banque Cantonale Vaudoise acquired a new stake in Diamondback Energy during the 3rd quarter valued at $105,000. B. Metzler seel. Sohn & Co. Holding AG purchased a new stake in Diamondback Energy during the 3rd quarter worth $585,000. Finally, PNC Financial Services Group Inc. boosted its position in Diamondback Energy by 1.8% in the 3rd quarter. PNC Financial Services Group Inc. now owns 46,474 shares of the oil and natural gas company's stock valued at $8,012,000 after buying an additional 821 shares during the last quarter. 90.01% of the stock is owned by hedge funds and other institutional investors.

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Diamondback Energy Stock Performance

FANG stock traded up $1.49 during trading on Wednesday, reaching $163.09. 2,373,062 shares of the company's stock were exchanged, compared to its average volume of 1,878,959. The firm has a market cap of $47.20 billion, a PE ratio of 9.34, a P/E/G ratio of 1.24 and a beta of 1.85. 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, Inc. has a 1-year low of $137.09 and a 1-year high of $214.50. The company's fifty day moving average price is $159.82 and its 200-day moving average price is $170.00.

Diamondback Energy (NASDAQ:FANG - Get Free Report) last posted 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. 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 during the quarter, compared to the consensus estimate of $3.55 billion. On average, research analysts expect that Diamondback Energy, Inc. will post 15.49 EPS for the current fiscal year.

Diamondback Energy Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, March 13th. Investors of record on Thursday, March 6th were paid a dividend of $1.00 per share. This represents a $4.00 dividend on an annualized basis and a dividend yield of 2.45%. The ex-dividend date of this dividend was Thursday, March 6th. This is a positive change from Diamondback Energy's previous quarterly dividend of $0.90. Diamondback Energy's dividend payout ratio (DPR) is currently 25.32%.

Analyst Ratings Changes

A number of analysts have recently issued reports on FANG shares. JPMorgan Chase & Co. dropped their target price on Diamondback Energy from $212.00 to $167.00 and set an "overweight" rating on the stock in a research report on Thursday, March 13th. Piper Sandler dropped their price objective on Diamondback Energy from $252.00 to $232.00 and set an "overweight" rating on the stock in a report on Tuesday, December 17th. Raymond James reduced their target price on Diamondback Energy from $245.00 to $214.00 and set a "strong-buy" rating for the company in a research note on Wednesday, March 12th. UBS Group lifted their price target on shares of Diamondback Energy from $212.00 to $216.00 and gave the stock a "buy" rating in a research note on Thursday, February 13th. Finally, Mizuho increased their price objective on shares of Diamondback Energy from $201.00 to $204.00 and gave the company an "outperform" rating in a research note on Tuesday, February 25th. Four 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. According to data from MarketBeat.com, Diamondback Energy currently has a consensus rating of "Moderate Buy" and a consensus price target of $209.92.

Insider Buying and Selling

In other news, Director Frank D. Tsuru purchased 2,000 shares of the stock in a transaction dated Friday, February 28th. The shares were bought at an average cost of $156.51 per share, for a total transaction of $313,020.00. Following the transaction, the director now owns 5,730 shares in the company, valued at $896,802.30. This trade represents a 53.62 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.48% of the stock is owned by corporate insiders.

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.