National Bank of Canada FI Sells 145,521 Shares of Diamondback Energy, Inc. (NASDAQ:FANG)

National Bank of Canada FI lessened its position in shares of Diamondback Energy, Inc. (NASDAQ:FANG - Free Report) by 50.7% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 141,745 shares of the oil and natural gas company's stock after selling 145,521 shares during the period. National Bank of Canada FI's holdings in Diamondback Energy were worth $23,222,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently bought and sold shares of FANG. Wintrust Investments LLC purchased a new position in Diamondback Energy during the 4th quarter worth $28,000. R Squared Ltd acquired a new stake in shares of Diamondback Energy in the fourth quarter valued at approximately $29,000. UMB Bank n.a. increased its position in Diamondback Energy by 247.3% during the fourth quarter. UMB Bank n.a. now owns 191 shares of the oil and natural gas company's stock worth $31,000 after buying an additional 136 shares in the last quarter. Key Financial Inc grew its holdings in shares of Diamondback Energy by 940.0% during the fourth quarter. Key Financial Inc now owns 208 shares of the oil and natural gas company's stock worth $34,000 after buying an additional 188 shares in the last quarter. Finally, Rakuten Securities Inc. lifted its stake in shares of Diamondback Energy by 62.4% during 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 institutional investors and hedge funds.

Diamondback Energy Price Performance

Shares of Diamondback Energy stock traded down $17.91 during trading on Friday, reaching $123.37. 5,423,563 shares of the company's stock were exchanged, compared to its average volume of 2,006,389. The firm's 50-day moving average price is $155.91 and its 200 day moving average price is $168.96. Diamondback Energy, Inc. has a 1-year low of $123.15 and a 1-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 company has a market cap of $35.71 billion, a P/E ratio of 7.06, a PEG ratio of 1.24 and a beta of 1.85.

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Diamondback Energy (NASDAQ:FANG - Get Free Report) last released its quarterly 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. The firm 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%. As a group, research analysts anticipate that Diamondback Energy, Inc. will post 15.49 earnings per share for the current year.

Diamondback Energy Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, March 13th. Investors of record on Thursday, March 6th were paid a dividend of $1.00 per share. The ex-dividend date of this dividend was Thursday, March 6th. This is a positive change from Diamondback Energy's previous quarterly dividend of $0.90. This represents a $4.00 annualized dividend and a yield of 3.24%. Diamondback Energy's dividend payout ratio is currently 25.32%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on FANG shares. Piper Sandler lowered their price target on Diamondback Energy from $252.00 to $232.00 and set an "overweight" rating for the company in a research report on Tuesday, December 17th. Barclays lowered their price target on Diamondback Energy from $210.00 to $200.00 and set an "overweight" rating for the company in a report on Tuesday, March 18th. Wells Fargo & Company lowered their target price on Diamondback Energy from $219.00 to $215.00 and set an "overweight" rating for the company in a report on Wednesday, March 12th. Truist Financial upped their target price on shares of Diamondback Energy from $236.00 to $238.00 and gave the stock a "buy" rating in a research report on Wednesday, February 19th. Finally, Wolfe Research upgraded shares of Diamondback Energy from a "peer perform" rating to an "outperform" rating and set a $190.00 price objective on the stock in a research note on Friday, January 3rd. 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 company. According to data from MarketBeat, Diamondback Energy presently has a consensus rating of "Moderate Buy" and a consensus price target of $209.33.

Insiders Place Their Bets

In other Diamondback Energy news, Director Frank D. Tsuru acquired 2,000 shares of the company's stock in a transaction on 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 approximately $896,802.30. This represents a 53.62 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 0.48% of the company's stock.

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.