Park National Corp OH Purchases 4,580 Shares of Diamondback Energy, Inc. (NASDAQ:FANG)

Park National Corp OH boosted its position in shares of Diamondback Energy, Inc. (NASDAQ:FANG - Free Report) by 11.3% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 45,281 shares of the oil and natural gas company's stock after buying an additional 4,580 shares during the period. Park National Corp OH's holdings in Diamondback Energy were worth $7,418,000 as of its most recent SEC filing.

A number of other large investors have also recently bought and sold shares of FANG. Carolinas Wealth Consulting LLC increased its stake in Diamondback Energy by 67.1% in the 2nd quarter. Carolinas Wealth Consulting LLC now owns 137 shares of the oil and natural gas company's stock valued at $27,000 after buying an additional 55 shares during the period. HHM Wealth Advisors LLC acquired a new position in shares of Diamondback Energy during the second quarter worth about $40,000. Values First Advisors Inc. purchased a new position in Diamondback Energy during the third quarter worth about $42,000. CVA Family Office LLC lifted its position in Diamondback Energy by 28.1% in the third quarter. CVA Family Office LLC now owns 296 shares of the oil and natural gas company's stock valued at $51,000 after purchasing an additional 65 shares during the period. Finally, Oliver Lagore Vanvalin Investment Group lifted its position in Diamondback Energy by 109.7% in the second quarter. Oliver Lagore Vanvalin Investment Group now owns 260 shares of the oil and natural gas company's stock valued at $52,000 after purchasing an additional 136 shares during the period. Institutional investors and hedge funds own 90.01% of the company's stock.

Analyst Ratings Changes

FANG has been the topic of a number of research reports. JPMorgan Chase & Co. initiated coverage on shares of Diamondback Energy in a research report on Wednesday, October 2nd. They set an "overweight" rating and a $182.00 target price for the company. Johnson Rice downgraded Diamondback Energy from a "strong-buy" rating to a "moderate buy" rating in a research report on Tuesday, September 24th. Scotiabank lowered their target price on Diamondback Energy from $245.00 to $225.00 and set a "sector outperform" rating on the stock in a report on Thursday, October 10th. Susquehanna cut their price target on Diamondback Energy from $237.00 to $233.00 and set a "positive" rating for the company in a report on Friday, October 18th. Finally, Piper Sandler reduced their price objective on Diamondback Energy from $252.00 to $232.00 and set an "overweight" rating on the stock in a research report on Tuesday, December 17th. One analyst has rated the stock with a sell rating, four have issued a hold rating, eighteen have given a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $209.83.

Insider Buying and Selling

In related news, Director Mark Lawrence Plaumann sold 1,150 shares of the company's stock in a transaction that occurred on Wednesday, November 13th. The shares were sold at an average price of $181.00, for a total value of $208,150.00. Following the completion of the sale, the director now owns 4,712 shares in the company, valued at approximately $852,872. This represents a 19.62 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 0.48% of the company's stock.

Diamondback Energy Stock Performance

Shares of NASDAQ:FANG traded down $1.43 during trading on Wednesday, hitting $170.99. 1,665,479 shares of the company traded hands, compared to its average volume of 1,943,991. Diamondback Energy, Inc. has a one year low of $147.93 and a one year high of $214.50. The company has a quick ratio of 0.42, a current ratio of 0.45 and a debt-to-equity ratio of 0.31. The business's fifty day moving average is $170.90 and its 200-day moving average is $184.21. The stock has a market capitalization of $49.93 billion, a price-to-earnings ratio of 9.79, a PEG ratio of 1.19 and a beta of 1.88.

Diamondback Energy (NASDAQ:FANG - Get Free Report) last announced its quarterly earnings results on Monday, November 4th. The oil and natural gas company reported $3.38 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $4.62 by ($1.24). Diamondback Energy had a return on equity of 13.68% and a net margin of 33.64%. The business had revenue of $2.65 billion for the quarter, compared to analyst estimates of $2.43 billion. During the same quarter last year, the firm posted $5.49 EPS. The company's revenue was up 13.0% compared to the same quarter last year. As a group, equities analysts predict that Diamondback Energy, Inc. will post 16.51 earnings per share for the current fiscal year.

Diamondback Energy Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, November 21st. Investors of record on Thursday, November 14th were paid a dividend of $0.90 per share. This represents a $3.60 annualized dividend and a yield of 2.11%. The ex-dividend date of this dividend was Thursday, November 14th. Diamondback Energy's dividend payout ratio is presently 20.61%.

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.