Diamondback Energy, Inc. (NASDAQ:FANG) Stake Lifted by Advisory Services Network LLC

Advisory Services Network LLC raised its position in Diamondback Energy, Inc. (NASDAQ:FANG - Free Report) by 20.1% during the 4th quarter, according to its most recent filing with the SEC. The firm owned 14,273 shares of the oil and natural gas company's stock after buying an additional 2,386 shares during the quarter. Advisory Services Network LLC's holdings in Diamondback Energy were worth $2,338,000 as of its most recent filing with the SEC.

Other hedge funds also recently made changes to their positions in the company. Lakewood Asset Management LLC raised its stake in shares of Diamondback Energy by 0.5% during the 4th quarter. Lakewood Asset Management LLC now owns 11,340 shares of the oil and natural gas company's stock worth $1,858,000 after buying an additional 60 shares during the last quarter. Magnolia Capital Advisors LLC grew its holdings in Diamondback Energy by 2.0% in the 4th quarter. Magnolia Capital Advisors LLC now owns 3,247 shares of the oil and natural gas company's stock valued at $532,000 after buying an additional 64 shares during the period. Barden Capital Management Inc. increased its position in Diamondback Energy by 1.5% during the fourth quarter. Barden Capital Management Inc. now owns 4,380 shares of the oil and natural gas company's stock worth $718,000 after purchasing an additional 64 shares during the last quarter. Greenleaf Trust increased its holdings in shares of Diamondback Energy by 1.0% during the 4th quarter. Greenleaf Trust now owns 6,892 shares of the oil and natural gas company's stock worth $1,129,000 after buying an additional 66 shares during the last quarter. Finally, Buckhead Capital Management LLC raised its holdings in shares of Diamondback Energy by 0.3% in the 4th quarter. Buckhead Capital Management LLC now owns 19,830 shares of the oil and natural gas company's stock worth $3,249,000 after purchasing an additional 67 shares during the period. Institutional investors and hedge funds own 90.01% of the company's stock.

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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 the firm's stock in a transaction that occurred on Friday, February 28th. The stock was acquired at an average cost of $156.51 per share, with a total value of $313,020.00. Following the acquisition, the director now directly owns 5,730 shares of the company's stock, valued at $896,802.30. This represents a 53.62 % increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.48% of the stock is currently owned by company insiders.

Diamondback Energy Stock Performance

NASDAQ FANG traded down $0.50 during trading hours on Tuesday, reaching $127.14. The company's stock had a trading volume of 1,688,495 shares, compared to its average volume of 2,069,629. The stock has a market cap of $37.39 billion, a PE ratio of 7.28, a PEG ratio of 1.24 and a beta of 1.44. The business has a 50-day simple moving average of $149.32 and a 200 day simple moving average of $165.96. Diamondback Energy, Inc. has a 52 week low of $114.00 and a 52 week high of $214.50. The company has a current ratio of 0.45, a quick ratio of 0.42 and a debt-to-equity ratio of 0.31.

Diamondback Energy (NASDAQ:FANG - Get Free Report) last released 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 analysts' consensus estimates of $3.57 by $0.07. Diamondback Energy had a return on equity of 13.68% and a net margin of 33.64%. The business had revenue of $3.71 billion during the quarter, compared to analyst estimates of $3.55 billion. Equities research analysts predict that Diamondback Energy, Inc. will post 15.49 earnings per share 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 given a $1.00 dividend. The ex-dividend date of this dividend was Thursday, March 6th. This is an increase from Diamondback Energy's previous quarterly dividend of $0.90. This represents a $4.00 annualized dividend and a yield of 3.15%. Diamondback Energy's dividend payout ratio (DPR) is currently 25.32%.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on the stock. Raymond James dropped their price objective on shares of Diamondback Energy from $245.00 to $214.00 and set a "strong-buy" rating for the company in a research report on Wednesday, March 12th. Truist Financial raised their price objective on Diamondback Energy from $236.00 to $238.00 and gave the company a "buy" rating in a research report on Wednesday, February 19th. UBS Group increased their target price on Diamondback Energy from $212.00 to $216.00 and gave the company a "buy" rating in a research note on Thursday, February 13th. Mizuho boosted their price target on Diamondback Energy from $201.00 to $204.00 and gave the stock an "outperform" rating in a research report on Tuesday, February 25th. Finally, JPMorgan Chase & Co. cut their price objective on shares of Diamondback Energy from $167.00 to $166.00 and set an "overweight" rating on the stock in a report on Thursday, April 10th. Three research analysts have rated the stock with a hold rating, nineteen have assigned a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of $208.17.

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.