Bessemer Group Inc. Sells 80,963 Shares of Diamondback Energy, Inc. (NASDAQ:FANG)

Bessemer Group Inc. decreased its holdings in shares of Diamondback Energy, Inc. (NASDAQ:FANG - Free Report) by 8.6% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 859,187 shares of the oil and natural gas company's stock after selling 80,963 shares during the quarter. Bessemer Group Inc. owned 0.29% of Diamondback Energy worth $140,761,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also recently bought and sold shares of the business. Raymond James Financial Inc. bought a new position in shares of Diamondback Energy in the 4th quarter valued at approximately $298,327,000. Assenagon Asset Management S.A. grew its stake in Diamondback Energy by 1,153.0% in the 4th quarter. Assenagon Asset Management S.A. now owns 1,132,918 shares of the oil and natural gas company's stock valued at $185,606,000 after buying an additional 1,042,505 shares during the last quarter. Diamond Hill Capital Management Inc. raised its holdings in Diamondback Energy by 30.5% in the 4th quarter. Diamond Hill Capital Management Inc. now owns 2,817,554 shares of the oil and natural gas company's stock worth $461,600,000 after acquiring an additional 658,644 shares during the period. Boston Partners grew its position in shares of Diamondback Energy by 12.4% in the fourth quarter. Boston Partners now owns 5,169,742 shares of the oil and natural gas company's stock valued at $849,202,000 after purchasing an additional 571,820 shares during the last quarter. Finally, Bank of New York Mellon Corp increased its stake in shares of Diamondback Energy by 13.7% in the fourth quarter. Bank of New York Mellon Corp now owns 4,163,070 shares of the oil and natural gas company's stock worth $682,036,000 after purchasing an additional 502,916 shares during the period. 90.01% of the stock is owned by institutional investors and hedge funds.

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Analyst Ratings Changes

A number of brokerages have weighed in on FANG. JPMorgan Chase & Co. reduced their price target on shares of Diamondback Energy from $167.00 to $166.00 and set an "overweight" rating for the company in a report on Thursday, April 10th. Raymond James lowered their target price on shares of Diamondback Energy from $245.00 to $214.00 and set a "strong-buy" rating on the stock in a research note on Wednesday, March 12th. Scotiabank decreased their price objective on Diamondback Energy from $215.00 to $175.00 and set a "sector outperform" rating on the stock in a report on Friday. Williams Trading set a $190.00 target price on Diamondback Energy in a report on Wednesday, March 5th. Finally, Truist Financial upped their price target on Diamondback Energy from $236.00 to $238.00 and gave the company a "buy" rating in a research report on Wednesday, February 19th. Three analysts have rated the stock with a hold rating, nineteen have given a buy rating and two have given a strong buy rating to the company. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $208.17.

Diamondback Energy Price Performance

NASDAQ:FANG traded up $0.49 on Tuesday, hitting $128.13. The company had a trading volume of 629,416 shares, compared to its average volume of 2,062,413. The firm has a 50 day moving average of $149.32 and a two-hundred day moving average of $165.96. The stock has a market capitalization of $37.68 billion, a price-to-earnings ratio of 7.33, a PEG ratio of 1.24 and a beta of 1.44. 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 for the quarter, beating 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 company had revenue of $3.71 billion during the quarter, compared to analyst estimates of $3.55 billion. On average, research analysts anticipate that Diamondback Energy, Inc. will post 15.49 earnings per share for the current year.

Diamondback Energy Increases Dividend

The firm also recently declared 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 was Thursday, March 6th. This represents a $4.00 annualized dividend and a yield of 3.12%. This is an increase from Diamondback Energy's previous quarterly dividend of $0.90. Diamondback Energy's dividend payout ratio (DPR) is presently 25.32%.

Insider Buying and Selling at Diamondback Energy

In other news, Director Frank D. Tsuru bought 2,000 shares of the company's stock in a transaction on Friday, February 28th. The shares were purchased at an average price of $156.51 per share, with a total value of $313,020.00. Following the transaction, the director now directly owns 5,730 shares in the company, valued at $896,802.30. This represents a 53.62 % increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.48% of the company's stock.

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.