Diamondback Energy, Inc. (NASDAQ:FANG) Shares Purchased by F M Investments LLC

F M Investments LLC increased its position in shares of Diamondback Energy, Inc. (NASDAQ:FANG - Free Report) by 28.8% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 13,342 shares of the oil and natural gas company's stock after acquiring an additional 2,987 shares during the period. F M Investments LLC's holdings in Diamondback Energy were worth $2,186,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Faithward Advisors LLC boosted its stake in shares of Diamondback Energy by 4.2% in the fourth quarter. Faithward Advisors LLC now owns 23,804 shares of the oil and natural gas company's stock valued at $3,900,000 after purchasing an additional 957 shares during the period. Advisory Services Network LLC boosted its position in Diamondback Energy by 20.1% in the 4th quarter. Advisory Services Network LLC now owns 14,273 shares of the oil and natural gas company's stock valued at $2,338,000 after buying an additional 2,386 shares during the period. Bank of Nova Scotia grew its stake in shares of Diamondback Energy by 298.0% in the fourth quarter. Bank of Nova Scotia now owns 103,891 shares of the oil and natural gas company's stock worth $17,020,000 after acquiring an additional 77,786 shares in the last quarter. Shelton Capital Management increased its position in shares of Diamondback Energy by 61.1% during the fourth quarter. Shelton Capital Management now owns 36,382 shares of the oil and natural gas company's stock worth $5,960,000 after acquiring an additional 13,800 shares during the period. Finally, FIL Ltd raised its stake in shares of Diamondback Energy by 7.1% in the fourth quarter. FIL Ltd now owns 1,249,721 shares of the oil and natural gas company's stock valued at $204,742,000 after acquiring an additional 82,482 shares in the last quarter. 90.01% of the stock is currently owned by hedge funds and other institutional investors.

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Insider Transactions at Diamondback Energy

In related news, Director Frank D. Tsuru bought 2,000 shares of the company's stock in a transaction on Friday, February 28th. The stock was bought at an average cost of $156.51 per share, with a total value of $313,020.00. Following the completion of the acquisition, the director now owns 5,730 shares in the company, valued at approximately $896,802.30. This represents a 53.62 % increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 0.48% of the company's stock.

Analysts Set New Price Targets

Several research firms recently commented on FANG. Wells Fargo & Company lowered their target price on Diamondback Energy from $219.00 to $215.00 and set an "overweight" rating for the company in a research note on Wednesday, March 12th. Truist Financial boosted their price objective on Diamondback Energy from $236.00 to $238.00 and gave the stock a "buy" rating in a research report on Wednesday, February 19th. Morgan Stanley reaffirmed an "overweight" rating on shares of Diamondback Energy in a report on Tuesday. JPMorgan Chase & Co. lowered 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. Finally, Citigroup upgraded shares of Diamondback Energy from a "reduce" rating to a "buy" rating and raised their price objective for the company from $157.00 to $180.00 in a report on Monday, April 7th. Three research analysts have rated the stock with a hold rating, nineteen have assigned a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat, Diamondback Energy presently has a consensus rating of "Moderate Buy" and a consensus price target of $208.17.

Diamondback Energy Stock Performance

Shares of NASDAQ:FANG traded down $0.50 during midday trading on Tuesday, hitting $127.14. The stock had a trading volume of 1,688,495 shares, compared to its average volume of 2,069,629. Diamondback Energy, Inc. has a 1 year low of $114.00 and a 1 year 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. The stock has a 50 day moving average price of $149.32 and a two-hundred day moving average price of $165.96. The company has a market capitalization of $37.39 billion, a PE ratio of 7.28, a P/E/G ratio of 1.24 and a beta of 1.44.

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

Diamondback Energy Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, March 13th. Shareholders of record on Thursday, March 6th were issued a $1.00 dividend. The ex-dividend date was Thursday, March 6th. This represents a $4.00 dividend on an annualized basis and a yield of 3.15%. This is an increase from Diamondback Energy's previous quarterly dividend of $0.90. Diamondback Energy's dividend payout ratio (DPR) is 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.