Diamondback Energy, Inc. (NASDAQ:FANG) Shares Bought by SevenBridge Financial Group LLC

SevenBridge Financial Group LLC lifted its position in Diamondback Energy, Inc. (NASDAQ:FANG - Free Report) by 10.8% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 20,388 shares of the oil and natural gas company's stock after buying an additional 1,990 shares during the period. SevenBridge Financial Group LLC's holdings in Diamondback Energy were worth $3,303,000 as of its most recent SEC filing.

Several other hedge funds have also recently made changes to their positions in the company. Martin Investment Management LLC grew its holdings in shares of Diamondback Energy by 4.4% during the fourth quarter. Martin Investment Management LLC now owns 26,410 shares of the oil and natural gas company's stock worth $4,327,000 after buying an additional 1,109 shares in the last quarter. OV Management LLC grew its stake in shares of Diamondback Energy by 8.2% during the fourth quarter. OV Management LLC now owns 11,182 shares of the oil and natural gas company's stock worth $1,832,000 after purchasing an additional 850 shares in the last quarter. Headlands Technologies LLC lifted its position in shares of Diamondback Energy by 49.7% during the 4th quarter. Headlands Technologies LLC now owns 9,816 shares of the oil and natural gas company's stock worth $1,608,000 after buying an additional 3,261 shares during the last quarter. Geode Capital Management LLC grew its stake in Diamondback Energy by 2.0% during the 4th quarter. Geode Capital Management LLC now owns 4,710,165 shares of the oil and natural gas company's stock worth $769,706,000 after buying an additional 91,605 shares during the last quarter. Finally, Nemes Rush Group LLC boosted its stake in shares of Diamondback Energy by 8.7% during the fourth quarter. Nemes Rush Group LLC now owns 6,170 shares of the oil and natural gas company's stock worth $1,011,000 after buying an additional 496 shares during the period. 90.01% of the stock is owned by institutional investors and hedge funds.

Diamondback Energy Price Performance

NASDAQ:FANG traded down $2.03 during mid-day trading on Monday, reaching $121.34. The stock had a trading volume of 2,410,517 shares, compared to its average volume of 2,008,356. Diamondback Energy, Inc. has a one year low of $117.17 and a one year high of $214.50. The company has a debt-to-equity ratio of 0.31, a quick ratio of 0.42 and a current ratio of 0.45. The firm has a 50 day moving average price of $155.91 and a two-hundred day moving average price of $168.82. The stock has a market capitalization of $35.12 billion, a P/E ratio of 6.95, a P/E/G ratio of 1.24 and a beta of 1.44.

Diamondback Energy (NASDAQ:FANG - Get Free Report) last posted its earnings results on Tuesday, February 25th. The oil and natural gas company reported $3.64 earnings per share for the quarter, topping analysts' consensus estimates of $3.57 by $0.07. Diamondback Energy had a net margin of 33.64% and a return on equity of 13.68%. The company had revenue of $3.71 billion during the quarter, compared to analyst estimates of $3.55 billion. As a group, analysts expect that Diamondback Energy, Inc. will post 15.49 earnings per share for the current 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 given a dividend of $1.00 per share. This represents a $4.00 annualized dividend and a yield of 3.30%. This is an increase from Diamondback Energy's previous quarterly dividend of $0.90. The ex-dividend date was Thursday, March 6th. Diamondback Energy's dividend payout ratio is 25.32%.

Insider Buying and Selling at Diamondback Energy

In other news, Director Frank D. Tsuru acquired 2,000 shares of the firm's stock in a transaction dated Friday, February 28th. The shares were purchased at an average cost of $156.51 per share, for a total transaction of $313,020.00. Following the transaction, the director now directly owns 5,730 shares of the company's stock, valued at approximately $896,802.30. This trade 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. Company insiders own 0.48% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on FANG shares. Raymond James reduced their price target on shares of Diamondback Energy from $245.00 to $214.00 and set a "strong-buy" rating for the company in a research report on Wednesday, March 12th. Mizuho upped their price objective on Diamondback Energy from $201.00 to $204.00 and gave the stock an "outperform" rating in a report on Tuesday, February 25th. JPMorgan Chase & Co. lowered their price target on shares of Diamondback Energy from $212.00 to $167.00 and set an "overweight" rating for the company in a report on Thursday, March 13th. Truist Financial boosted their target price on shares of Diamondback Energy from $236.00 to $238.00 and gave the company a "buy" rating in a research note on Wednesday, February 19th. Finally, Williams Trading set a $190.00 target price on shares of Diamondback Energy in a research note on Wednesday, March 5th. Three analysts have rated the stock with a hold rating, nineteen have assigned a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, Diamondback Energy presently has a consensus rating of "Moderate Buy" and an average target price of $210.29.

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.