Dana Investment Advisors Inc. Acquires 7,123 Shares of Diamondback Energy, Inc. (NASDAQ:FANG)

Dana Investment Advisors Inc. lifted its holdings in Diamondback Energy, Inc. (NASDAQ:FANG - Free Report) by 5.1% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 146,418 shares of the oil and natural gas company's stock after purchasing an additional 7,123 shares during the period. Diamondback Energy accounts for approximately 0.8% of Dana Investment Advisors Inc.'s portfolio, making the stock its 21st biggest holding. Dana Investment Advisors Inc. owned 0.05% of Diamondback Energy worth $23,988,000 at the end of the most recent quarter.

Other institutional investors have also made changes to their positions in the company. State Street Corp increased its stake in Diamondback Energy by 1.3% during the third quarter. State Street Corp now owns 11,858,555 shares of the oil and natural gas company's stock valued at $2,044,415,000 after acquiring an additional 149,871 shares during the period. Geode Capital Management LLC increased its stake in Diamondback Energy by 6.1% during the third quarter. Geode Capital Management LLC now owns 4,618,560 shares of the oil and natural gas company's stock valued at $793,611,000 after acquiring an additional 266,299 shares during the period. Bank of New York Mellon Corp increased its stake in Diamondback Energy by 13.7% during the fourth quarter. Bank of New York Mellon Corp now owns 4,163,070 shares of the oil and natural gas company's stock valued at $682,036,000 after acquiring an additional 502,916 shares during the period. Pacer Advisors Inc. increased its stake in Diamondback Energy by 9.3% during the third quarter. Pacer Advisors Inc. now owns 2,704,520 shares of the oil and natural gas company's stock valued at $466,259,000 after acquiring an additional 230,689 shares during the period. Finally, Diamond Hill Capital Management Inc. increased its stake in Diamondback Energy by 25.6% during the third quarter. Diamond Hill Capital Management Inc. now owns 2,158,910 shares of the oil and natural gas company's stock valued at $372,196,000 after acquiring an additional 439,579 shares during the period. 90.01% of the stock is currently owned by institutional investors.

Diamondback Energy Stock Down 1.6 %

NASDAQ:FANG opened at $142.70 on Thursday. The stock's fifty day moving average price is $164.70 and its two-hundred day moving average price is $174.12. Diamondback Energy, Inc. has a 52-week low of $139.57 and a 52-week high of $214.50. 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 company has a market cap of $41.30 billion, a price-to-earnings ratio of 8.17, a P/E/G ratio of 1.24 and a beta of 1.86.

Diamondback Energy (NASDAQ:FANG - Get Free Report) last posted its quarterly earnings results on Tuesday, February 25th. The oil and natural gas company reported $3.64 earnings per share for the quarter, beating analysts' consensus estimates of $3.57 by $0.07. The company had revenue of $3.71 billion for the quarter, compared to the consensus estimate of $3.55 billion. Diamondback Energy had a return on equity of 13.68% and a net margin of 33.64%. On average, analysts anticipate that Diamondback Energy, Inc. will post 15.49 EPS for the current year.

Diamondback Energy Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, March 13th. Stockholders of record on Thursday, March 6th will be paid a $1.00 dividend. The ex-dividend date of this dividend is Thursday, March 6th. This represents a $4.00 dividend on an annualized basis and a dividend yield of 2.80%. This is an increase from Diamondback Energy's previous quarterly dividend of $0.90. Diamondback Energy's dividend payout ratio is 25.32%.

Insider Activity

In other news, Director Frank D. Tsuru acquired 2,000 shares of the stock in a transaction that occurred on Friday, February 28th. The stock was acquired at an average price of $156.51 per share, for a total transaction of $313,020.00. Following the transaction, the director now directly owns 5,730 shares in the company, valued at approximately $896,802.30. This represents a 53.62 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available at this link. 0.48% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

FANG has been the topic of several research reports. Piper Sandler lowered their price target on Diamondback Energy from $252.00 to $232.00 and set an "overweight" rating on the stock in a research note on Tuesday, December 17th. Raymond James upped their price objective on Diamondback Energy from $237.00 to $256.00 and gave the company a "strong-buy" rating in a research note on Thursday, January 23rd. Truist Financial upped their price objective on Diamondback Energy from $236.00 to $238.00 and gave the company a "buy" rating in a research note on Wednesday, February 19th. JPMorgan Chase & Co. upped their price objective on Diamondback Energy from $191.00 to $195.00 and gave the company an "overweight" rating in a research note on Friday, January 17th. Finally, StockNews.com upgraded Diamondback Energy from a "sell" rating to a "hold" rating in a research note on Wednesday, November 13th. Four equities research analysts have rated the stock with a hold rating, eighteen have assigned a buy rating and two have assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $216.09.

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.

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