Diamondback Energy, Inc. (NASDAQ:FANG) Shares Acquired by Russell Investments Group Ltd.

Russell Investments Group Ltd. raised its position in shares of Diamondback Energy, Inc. (NASDAQ:FANG - Free Report) by 13.2% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 231,874 shares of the oil and natural gas company's stock after purchasing an additional 26,959 shares during the period. Russell Investments Group Ltd. owned about 0.08% of Diamondback Energy worth $37,988,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also made changes to their positions in the company. Wintrust Investments LLC bought a new stake in shares of Diamondback Energy in the fourth quarter valued at about $28,000. R Squared Ltd purchased a new position in Diamondback Energy during the 4th quarter valued at about $29,000. UMB Bank n.a. raised its holdings in shares of Diamondback Energy by 247.3% in the 4th quarter. UMB Bank n.a. now owns 191 shares of the oil and natural gas company's stock valued at $31,000 after purchasing an additional 136 shares in the last quarter. Key Financial Inc raised its holdings in shares of Diamondback Energy by 940.0% in the 4th quarter. Key Financial Inc now owns 208 shares of the oil and natural gas company's stock valued at $34,000 after purchasing an additional 188 shares in the last quarter. Finally, Rakuten Securities Inc. lifted its position in shares of Diamondback Energy by 62.4% in the 4th quarter. Rakuten Securities Inc. now owns 276 shares of the oil and natural gas company's stock worth $45,000 after purchasing an additional 106 shares during the period. 90.01% of the stock is currently owned by hedge funds and other institutional investors.

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Insider Buying and Selling at Diamondback Energy

In other news, Director Frank D. Tsuru acquired 2,000 shares of the business's stock in a transaction 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 acquisition, the director now owns 5,730 shares of the company's stock, valued at approximately $896,802.30. This represents a 53.62 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through the SEC website. 0.48% of the stock is currently owned by corporate insiders.

Diamondback Energy Stock Performance

Shares of FANG stock traded up $5.85 during trading hours on Friday, hitting $129.01. The company's stock had a trading volume of 3,928,062 shares, compared to its average volume of 2,065,970. The stock has a market cap of $37.94 billion, a PE ratio of 7.38, a price-to-earnings-growth ratio of 1.24 and a beta of 1.44. Diamondback Energy, Inc. has a 12-month low of $114.00 and a 12-month high of $214.50. The company has a 50 day moving average of $150.06 and a 200 day moving average of $166.26. 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 (NASDAQ:FANG - Get Free Report) last posted its quarterly earnings results on Tuesday, February 25th. The oil and natural gas company reported $3.64 EPS for the quarter, beating the consensus estimate 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 net margin of 33.64% and a return on equity of 13.68%. On average, sell-side analysts forecast that Diamondback Energy, Inc. will post 15.49 EPS for the current fiscal year.

Diamondback Energy Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, March 13th. Investors of record on Thursday, March 6th were given a dividend of $1.00 per share. This is a boost from Diamondback Energy's previous quarterly dividend of $0.90. This represents a $4.00 annualized dividend and a yield of 3.10%. The ex-dividend date of this dividend was Thursday, March 6th. Diamondback Energy's dividend payout ratio (DPR) is currently 25.32%.

Analysts Set New Price Targets

FANG has been the subject of a number of recent research reports. Wells Fargo & Company reduced their price objective on shares of Diamondback Energy from $219.00 to $215.00 and set an "overweight" rating for the company in a research note on Wednesday, March 12th. UBS Group boosted their price target on Diamondback Energy from $212.00 to $216.00 and gave the stock a "buy" rating in a research report on Thursday, February 13th. Scotiabank decreased their price objective on Diamondback Energy from $215.00 to $175.00 and set a "sector outperform" rating for the company in a research note on Friday. Piper Sandler cut their target price 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. Finally, Royal Bank of Canada reissued an "outperform" rating and set a $210.00 price target on shares of Diamondback Energy in a research report on Thursday, January 23rd. Three research analysts have rated the stock with a hold rating, nineteen have issued a buy rating and two have issued a strong buy rating to the company's stock. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of $208.17.

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.