Bank of Montreal Can Increases Stock Position in Diamondback Energy, Inc. (NASDAQ:FANG)

Bank of Montreal Can grew its position in shares of Diamondback Energy, Inc. (NASDAQ:FANG - Free Report) by 24.7% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 436,341 shares of the oil and natural gas company's stock after acquiring an additional 86,477 shares during the period. Bank of Montreal Can owned about 0.15% of Diamondback Energy worth $71,486,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of FANG. Quantinno Capital Management LP increased its position in Diamondback Energy by 22.4% during the 3rd quarter. Quantinno Capital Management LP now owns 14,716 shares of the oil and natural gas company's stock valued at $2,537,000 after purchasing an additional 2,689 shares during the period. Kovitz Investment Group Partners LLC raised its stake in Diamondback Energy by 74.9% in the third quarter. Kovitz Investment Group Partners LLC now owns 10,755 shares of the oil and natural gas company's stock worth $1,854,000 after buying an additional 4,607 shares in the last quarter. EP Wealth Advisors LLC bought a new stake in Diamondback Energy during the 3rd quarter valued at approximately $941,000. XTX Topco Ltd lifted its stake in shares of Diamondback Energy by 111.2% in the 3rd quarter. XTX Topco Ltd now owns 6,088 shares of the oil and natural gas company's stock valued at $1,050,000 after purchasing an additional 3,206 shares during the period. Finally, Nomura Asset Management Co. Ltd. lifted its position in Diamondback Energy by 20.6% during the third quarter. Nomura Asset Management Co. Ltd. now owns 63,969 shares of the oil and natural gas company's stock valued at $11,028,000 after buying an additional 10,924 shares during the period. Institutional investors own 90.01% of the company's stock.

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Analyst Ratings Changes

Several equities analysts have recently weighed in on the company. UBS Group raised their price target on Diamondback Energy from $212.00 to $216.00 and gave the company a "buy" rating in a report on Thursday, February 13th. Wolfe Research upgraded shares of Diamondback Energy from a "peer perform" rating to an "outperform" rating and set a $190.00 price objective for the company in a report on Friday, January 3rd. JPMorgan Chase & Co. cut their target price on Diamondback Energy from $167.00 to $166.00 and set an "overweight" rating on the stock in a research note on Thursday. Wells Fargo & Company dropped their price objective on Diamondback Energy from $219.00 to $215.00 and set an "overweight" rating on the stock in a research report on Wednesday, March 12th. Finally, Truist Financial raised 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. Three research analysts have rated the stock with a hold rating, nineteen have issued a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $208.17.

Insider Transactions at Diamondback Energy

In other news, Director Frank D. Tsuru acquired 2,000 shares of the business's stock in a transaction that occurred on Friday, February 28th. The stock was purchased at an average cost of $156.51 per share, for a total transaction of $313,020.00. Following the completion of the transaction, the director now owns 5,730 shares in the company, valued at approximately $896,802.30. This trade represents a 53.62 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Insiders own 0.48% of the company's stock.

Diamondback Energy Stock Down 0.6 %

Shares of NASDAQ:FANG traded down $0.72 on Monday, reaching $128.29. The company had a trading volume of 593,727 shares, compared to its average volume of 2,060,756. The firm has a market capitalization of $37.73 billion, a PE ratio of 7.34, a PEG ratio of 1.24 and a beta of 1.44. 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, Inc. has a 52-week low of $114.00 and a 52-week high of $214.50. The firm's 50 day simple moving average is $150.06 and its 200-day simple moving average is $166.26.

Diamondback Energy (NASDAQ:FANG - Get Free Report) last announced its earnings results on Tuesday, February 25th. The oil and natural gas company reported $3.64 EPS for the quarter, topping analysts' consensus estimates 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. As a group, analysts expect that Diamondback Energy, Inc. will post 15.49 earnings per share for the current fiscal year.

Diamondback Energy Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, March 13th. Investors of record on Thursday, March 6th were given a dividend of $1.00 per share. This represents a $4.00 annualized dividend and a dividend yield of 3.12%. 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. Diamondback Energy's payout ratio is presently 25.32%.

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.