Diamondback Energy, Inc. (NASDAQ:FANG) Shares Bought by Integrated Wealth Concepts LLC

Integrated Wealth Concepts LLC increased its stake in shares of Diamondback Energy, Inc. (NASDAQ:FANG - Free Report) by 11.1% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 31,143 shares of the oil and natural gas company's stock after purchasing an additional 3,101 shares during the quarter. Integrated Wealth Concepts LLC's holdings in Diamondback Energy were worth $5,102,000 at the end of the most recent quarter.

Several other large investors also recently bought and sold shares of FANG. QRG Capital Management Inc. increased its stake in shares of Diamondback Energy by 38.4% during the fourth quarter. QRG Capital Management Inc. now owns 11,675 shares of the oil and natural gas company's stock worth $1,913,000 after buying an additional 3,238 shares during the period. Swedbank AB grew its holdings in Diamondback Energy by 28.0% during the 4th quarter. Swedbank AB now owns 198,283 shares of the oil and natural gas company's stock worth $32,485,000 after acquiring an additional 43,361 shares in the last quarter. Tokio Marine Asset Management Co. Ltd. increased its position in shares of Diamondback Energy by 631.1% in the 4th quarter. Tokio Marine Asset Management Co. Ltd. now owns 43,148 shares of the oil and natural gas company's stock valued at $7,069,000 after purchasing an additional 37,246 shares during the last quarter. Franklin Resources Inc. raised its holdings in shares of Diamondback Energy by 48.5% in the 3rd quarter. Franklin Resources Inc. now owns 146,870 shares of the oil and natural gas company's stock valued at $28,008,000 after purchasing an additional 47,951 shares in the last quarter. Finally, Tectonic Advisors LLC lifted its position in shares of Diamondback Energy by 38.2% during the 4th quarter. Tectonic Advisors LLC now owns 31,467 shares of the oil and natural gas company's stock worth $5,155,000 after purchasing an additional 8,704 shares during the last quarter. Hedge funds and other institutional investors own 90.01% of the company's stock.

Analyst Upgrades and Downgrades

A number of analysts have issued reports on FANG shares. UBS Group decreased their price target on Diamondback Energy from $175.00 to $163.00 and set a "buy" rating for the company in a report on Thursday, April 17th. Scotiabank decreased their target price on Diamondback Energy from $215.00 to $175.00 and set a "sector outperform" rating for the company in a research note on Friday, April 11th. Piper Sandler dropped their price target on shares of Diamondback Energy from $240.00 to $234.00 and set an "overweight" rating on the stock in a research note on Tuesday, April 22nd. Susquehanna lowered their target price on shares of Diamondback Energy from $219.00 to $194.00 and set a "positive" rating for the company in a report on Tuesday, April 22nd. Finally, KeyCorp cut their price target on shares of Diamondback Energy from $216.00 to $180.00 and set an "overweight" rating on the stock in a research note on Monday, April 21st. Three 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. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $200.96.

Diamondback Energy Stock Performance

Shares of NASDAQ:FANG traded up $1.06 during midday trading on Monday, hitting $137.82. The stock had a trading volume of 1,663,937 shares, compared to its average volume of 2,099,377. 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 $144.59 and a two-hundred day moving average price of $162.17. The company has a market capitalization of $40.53 billion, a PE ratio of 7.89, a P/E/G ratio of 1.24 and a beta of 1.44.

Diamondback Energy (NASDAQ:FANG - Get Free Report) last announced its quarterly earnings data 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 analyst estimates 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 of this dividend was Thursday, March 6th. This represents a $4.00 dividend on an annualized basis and a yield of 2.90%. This is an increase from Diamondback Energy's previous quarterly dividend of $0.90. Diamondback Energy's dividend payout ratio (DPR) is 25.32%.

Insiders Place Their Bets

In related news, Director Frank D. Tsuru acquired 2,000 shares of the firm's stock in a transaction that occurred 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 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 ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders own 0.48% of the company's stock.

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.