SevenBridge Financial Group LLC Has $3.30 Million Holdings in Diamondback Energy, Inc. (NASDAQ:FANG)

SevenBridge Financial Group LLC boosted its position in shares of Diamondback Energy, Inc. (NASDAQ:FANG - Free Report) by 10.8% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 20,388 shares of the oil and natural gas company's stock after acquiring an additional 1,990 shares during the quarter. SevenBridge Financial Group LLC's holdings in Diamondback Energy were worth $3,303,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in the company. State Street Corp raised its stake in Diamondback Energy by 1.3% in the 3rd quarter. State Street Corp now owns 11,858,555 shares of the oil and natural gas company's stock valued at $2,044,415,000 after acquiring an additional 149,871 shares during the period. Boston Partners increased its holdings in shares of Diamondback Energy by 12.4% in the fourth quarter. Boston Partners now owns 5,169,742 shares of the oil and natural gas company's stock valued at $849,202,000 after purchasing an additional 571,820 shares during the last quarter. Geode Capital Management LLC raised its position in shares of Diamondback Energy by 2.0% in the fourth quarter. Geode Capital Management LLC now owns 4,710,165 shares of the oil and natural gas company's stock valued at $769,706,000 after purchasing an additional 91,605 shares during the period. Bank of New York Mellon Corp lifted its stake in shares of Diamondback Energy by 13.7% during the 4th quarter. Bank of New York Mellon Corp now owns 4,163,070 shares of the oil and natural gas company's stock worth $682,036,000 after buying an additional 502,916 shares during the last quarter. Finally, Diamond Hill Capital Management Inc. boosted its holdings in shares of Diamondback Energy by 30.5% during the 4th quarter. Diamond Hill Capital Management Inc. now owns 2,817,554 shares of the oil and natural gas company's stock worth $461,600,000 after buying an additional 658,644 shares during the period. Institutional investors and hedge funds own 90.01% of the company's stock.

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Wall Street Analysts Forecast Growth

Several research analysts have weighed in on FANG shares. Piper Sandler lowered their price target on shares of Diamondback Energy from $252.00 to $232.00 and set an "overweight" rating on the stock in a report on Tuesday, December 17th. Raymond James lowered their target price on Diamondback Energy from $245.00 to $214.00 and set a "strong-buy" rating on the stock in a research note on Wednesday, March 12th. Citigroup reduced their price target on Diamondback Energy from $195.00 to $157.00 and set a "neutral" rating for the company in a research note on Monday, March 17th. Truist Financial upped their price objective on Diamondback Energy from $236.00 to $238.00 and gave the company a "buy" rating in a report on Wednesday, February 19th. Finally, Morgan Stanley dropped their target price on Diamondback Energy from $227.00 to $206.00 and set an "overweight" rating for the company in a report on Thursday, March 27th. Four equities 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 stock. According to MarketBeat, Diamondback Energy presently has an average rating of "Moderate Buy" and an average price target of $209.33.

Insider Buying and Selling

In other news, Director Frank D. Tsuru purchased 2,000 shares of the business's stock in a transaction dated Friday, February 28th. The shares were purchased at an average cost of $156.51 per share, with a total value of $313,020.00. Following the completion of the purchase, the director now owns 5,730 shares of the company's stock, valued at $896,802.30. This trade represents a 53.62 % increase in their position. The purchase was disclosed in a document filed with the SEC, which is available at this link. 0.48% of the stock is currently owned by corporate insiders.

Diamondback Energy Price Performance

Shares of FANG stock traded down $17.91 on Friday, reaching $123.37. The company had a trading volume of 5,423,563 shares, compared to its average volume of 2,004,450. The stock has a market capitalization of $35.71 billion, a PE ratio of 7.06, a price-to-earnings-growth ratio of 1.24 and a beta of 1.85. 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 50-day moving average is $155.91 and its 200 day moving average is $168.96. Diamondback Energy, Inc. has a one year low of $123.15 and a one year high of $214.50.

Diamondback Energy (NASDAQ:FANG - Get Free Report) last issued its quarterly earnings data 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 business had revenue of $3.71 billion during the quarter, compared to the consensus estimate of $3.55 billion. Diamondback Energy had a net margin of 33.64% and a return on equity of 13.68%. 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 disclosed a quarterly dividend, which was paid on Thursday, March 13th. Investors of record on Thursday, March 6th were issued a dividend of $1.00 per share. This is an increase from Diamondback Energy's previous quarterly dividend of $0.90. The ex-dividend date was Thursday, March 6th. This represents a $4.00 annualized dividend and a dividend yield of 3.24%. Diamondback Energy's dividend payout ratio (DPR) is 25.32%.

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.