Tower Research Capital LLC TRC Buys 3,218 Shares of Diamondback Energy, Inc. (NASDAQ:FANG)

Tower Research Capital LLC TRC lifted its position in Diamondback Energy, Inc. (NASDAQ:FANG - Free Report) by 22.3% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 17,631 shares of the oil and natural gas company's stock after purchasing an additional 3,218 shares during the quarter. Tower Research Capital LLC TRC's holdings in Diamondback Energy were worth $2,888,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently made changes to their positions in FANG. Wintrust Investments LLC bought a new position in shares of Diamondback Energy in the 4th quarter worth $28,000. R Squared Ltd purchased a new stake in Diamondback Energy during the fourth quarter valued at about $29,000. UMB Bank n.a. increased its position in shares of Diamondback Energy by 247.3% during 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 during the last quarter. Key Financial Inc raised its holdings in shares of Diamondback Energy by 940.0% during the 4th quarter. Key Financial Inc now owns 208 shares of the oil and natural gas company's stock valued at $34,000 after buying an additional 188 shares in the last quarter. Finally, Transce3nd LLC bought a new stake in Diamondback Energy in the 4th quarter worth approximately $38,000. Hedge funds and other institutional investors own 90.01% of the company's stock.

Insider Activity at Diamondback Energy

In other Diamondback Energy news, Director Frank D. Tsuru purchased 2,000 shares of the firm's stock in a transaction dated Friday, February 28th. The stock was purchased at an average price of $156.51 per share, for a total transaction of $313,020.00. Following the completion of the purchase, the director now directly owns 5,730 shares of the company's stock, valued at $896,802.30. This trade represents a 53.62 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 0.48% of the stock is owned by insiders.

Diamondback Energy Stock Up 0.4 %

Shares of FANG traded up $0.60 during mid-day trading on Friday, reaching $136.76. The company had a trading volume of 1,608,355 shares, compared to its average volume of 2,093,456. Diamondback Energy, Inc. has a 52 week low of $114.00 and a 52 week 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 capitalization of $40.22 billion, a price-to-earnings ratio of 7.83, a price-to-earnings-growth ratio of 1.24 and a beta of 1.44. The firm has a 50-day moving average price of $145.44 and a 200 day moving average price of $163.39.

Diamondback Energy (NASDAQ:FANG - Get Free Report) last released its earnings results on Tuesday, February 25th. The oil and natural gas company reported $3.64 EPS for the quarter, topping analysts' consensus estimates of $3.57 by $0.07. The firm had revenue of $3.71 billion for the quarter, compared to analysts' expectations of $3.55 billion. Diamondback Energy had a return on equity of 13.68% and a net margin of 33.64%. On average, sell-side analysts forecast that Diamondback Energy, Inc. will post 15.49 EPS for the current year.

Diamondback Energy Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, March 13th. Stockholders of record on Thursday, March 6th were issued a dividend of $1.00 per share. This is a boost from Diamondback Energy's previous quarterly dividend of $0.90. The ex-dividend date of this dividend was Thursday, March 6th. This represents a $4.00 dividend on an annualized basis and a dividend yield of 2.92%. Diamondback Energy's dividend payout ratio is presently 25.32%.

Analysts Set New Price Targets

FANG has been the topic of several research reports. Williams Trading set a $190.00 price target on shares of Diamondback Energy in a research note on Wednesday, March 5th. Piper Sandler lowered their price target on shares of Diamondback Energy from $240.00 to $234.00 and set an "overweight" rating for the company in a research note on Tuesday. Scotiabank reduced their price objective on Diamondback Energy from $215.00 to $175.00 and set a "sector outperform" rating on the stock in a research note on Friday, April 11th. Truist Financial lifted their price objective on Diamondback Energy from $238.00 to $242.00 and gave the stock a "buy" rating in a report on Thursday, April 17th. Finally, UBS Group dropped their target price on Diamondback Energy from $175.00 to $163.00 and set a "buy" rating for the company in a report on Thursday, April 17th. Three research analysts have rated the stock with a hold rating, eighteen have issued a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat.com, Diamondback Energy has an average rating of "Moderate Buy" and an average price target of $200.96.

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.