Advisors Asset Management Inc. Has $4.53 Million Stock Holdings in Diamondback Energy, Inc. (NASDAQ:FANG)

Advisors Asset Management Inc. lessened its position in Diamondback Energy, Inc. (NASDAQ:FANG - Free Report) by 8.0% during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 27,666 shares of the oil and natural gas company's stock after selling 2,405 shares during the period. Advisors Asset Management Inc.'s holdings in Diamondback Energy were worth $4,533,000 at the end of the most recent reporting period.

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

Analyst Ratings Changes

A number of brokerages have recently issued reports on FANG. Royal Bank of Canada reaffirmed an "outperform" rating and set a $210.00 target price on shares of Diamondback Energy in a research report on Thursday, January 23rd. Barclays reduced their price objective on shares of Diamondback Energy from $210.00 to $200.00 and set an "overweight" rating for the company in a research note on Tuesday, March 18th. Wolfe Research raised shares of Diamondback Energy from a "peer perform" rating to an "outperform" rating and set a $190.00 target price on the stock in a research report on Friday, January 3rd. Truist Financial boosted their price target on shares of Diamondback Energy from $236.00 to $238.00 and gave the company a "buy" rating in a report on Wednesday, February 19th. Finally, Citigroup decreased their price objective on shares of Diamondback Energy from $195.00 to $157.00 and set a "neutral" rating for the company in a research note on Monday, March 17th. Four research 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. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $209.92.

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Insider Buying and Selling at Diamondback Energy

In other Diamondback Energy news, Director Frank D. Tsuru acquired 2,000 shares of Diamondback Energy stock in a transaction dated Friday, February 28th. The stock was bought at an average cost 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. The trade was a 53.62 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 0.48% of the company's stock.

Diamondback Energy Stock Performance

Shares of Diamondback Energy stock traded up $2.51 on Monday, reaching $161.01. The stock had a trading volume of 2,042,245 shares, compared to its average volume of 1,875,216. Diamondback Energy, Inc. has a fifty-two week low of $137.09 and a fifty-two week high of $214.50. The business's 50-day moving average price is $160.47 and its two-hundred day moving average price is $170.29. The company has a debt-to-equity ratio of 0.31, a quick ratio of 0.42 and a current ratio of 0.45. 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 (NASDAQ:FANG - Get Free Report) last released its earnings results on Tuesday, February 25th. The oil and natural gas company reported $3.64 earnings per share for the quarter, topping analysts' consensus estimates of $3.57 by $0.07. The firm 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, sell-side analysts forecast that Diamondback Energy, Inc. will post 15.49 EPS for the current year.

Diamondback Energy Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, March 13th. Shareholders of record on Thursday, March 6th were issued a $1.00 dividend. The ex-dividend date of this dividend was Thursday, March 6th. This represents a $4.00 dividend on an annualized basis and a yield of 2.48%. This is a positive change from Diamondback Energy's previous quarterly dividend of $0.90. Diamondback Energy's dividend payout ratio (DPR) is 25.32%.

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.