Diamondback Energy, Inc. (NASDAQ:FANG) Shares Bought by Hsbc Holdings PLC

Hsbc Holdings PLC lifted its stake in Diamondback Energy, Inc. (NASDAQ:FANG - Free Report) by 17.7% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 561,935 shares of the oil and natural gas company's stock after buying an additional 84,464 shares during the quarter. Hsbc Holdings PLC owned about 0.19% of Diamondback Energy worth $92,041,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also recently made changes to their positions in the stock. Lakewood Asset Management LLC lifted its holdings in Diamondback Energy by 0.5% during the fourth quarter. Lakewood Asset Management LLC now owns 11,340 shares of the oil and natural gas company's stock valued at $1,858,000 after purchasing an additional 60 shares in the last quarter. Magnolia Capital Advisors LLC increased its stake in shares of Diamondback Energy by 2.0% in the fourth quarter. Magnolia Capital Advisors LLC now owns 3,247 shares of the oil and natural gas company's stock worth $532,000 after purchasing an additional 64 shares in the last quarter. Barden Capital Management Inc. raised its position in shares of Diamondback Energy by 1.5% during the 4th quarter. Barden Capital Management Inc. now owns 4,380 shares of the oil and natural gas company's stock valued at $718,000 after purchasing an additional 64 shares during the period. Greenleaf Trust lifted its stake in shares of Diamondback Energy by 1.0% during the 4th quarter. Greenleaf Trust now owns 6,892 shares of the oil and natural gas company's stock valued at $1,129,000 after buying an additional 66 shares in the last quarter. Finally, Buckhead Capital Management LLC boosted its holdings in Diamondback Energy by 0.3% in the 4th quarter. Buckhead Capital Management LLC now owns 19,830 shares of the oil and natural gas company's stock worth $3,249,000 after buying an additional 67 shares during the period. 90.01% of the stock is owned by hedge funds and other institutional investors.

Diamondback Energy Stock Up 0.8 %

Shares of FANG traded up $1.06 during mid-day trading on Monday, hitting $137.82. The company's stock had a trading volume of 1,594,303 shares, compared to its average volume of 2,620,814. The firm has a market capitalization of $40.53 billion, a price-to-earnings ratio of 7.89, a PEG ratio of 1.24 and a beta of 1.44. The company's 50-day moving average is $145.04 and its 200-day moving average is $162.57. 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.

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 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.57 by $0.07. Diamondback Energy had a return on equity of 13.68% and a net margin of 33.64%. The business had revenue of $3.71 billion for the quarter, compared to analysts' expectations of $3.55 billion. On average, equities research analysts forecast that Diamondback Energy, Inc. will post 15.49 EPS for the current fiscal year.

Diamondback Energy Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, March 13th. Shareholders 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 2.90%. This is a positive change from Diamondback Energy's previous quarterly dividend of $0.90. The ex-dividend date of this dividend was Thursday, March 6th. Diamondback Energy's dividend payout ratio is presently 25.32%.

Insider Activity

In other news, Director Frank D. Tsuru bought 2,000 shares of the firm's stock in a transaction that occurred on Friday, February 28th. The stock was bought at an average price of $156.51 per share, with a total value of $313,020.00. Following the completion of the transaction, the director now directly owns 5,730 shares of the company's stock, valued at approximately $896,802.30. The trade was a 53.62 % increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 0.48% of the company's stock.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on FANG shares. Royal Bank of Canada reissued an "outperform" rating and issued a $210.00 price target on shares of Diamondback Energy in a report on Thursday, January 23rd. JPMorgan Chase & Co. decreased their price target on shares of Diamondback Energy from $167.00 to $166.00 and set an "overweight" rating on the stock in a research note on Thursday, April 10th. Wolfe Research upgraded Diamondback Energy from a "peer perform" rating to an "outperform" rating and set a $190.00 price objective for the company in a research report on Friday, January 3rd. Morgan Stanley reaffirmed an "overweight" rating on shares of Diamondback Energy in a research note on Tuesday, April 15th. Finally, Truist Financial raised their target price on shares of Diamondback Energy from $238.00 to $242.00 and gave the company a "buy" rating in a report on Thursday, April 17th. Three equities research analysts have rated the stock with a hold rating, eighteen have assigned a buy rating and two have issued a strong buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $200.96.

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.