First National Advisers LLC Raises Holdings in Diamondback Energy, Inc. (NASDAQ:FANG)

First National Advisers LLC boosted its stake in shares of Diamondback Energy, Inc. (NASDAQ:FANG - Free Report) by 30.8% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 14,936 shares of the oil and natural gas company's stock after buying an additional 3,520 shares during the period. First National Advisers LLC's holdings in Diamondback Energy were worth $2,447,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also bought and sold shares of the stock. Wintrust Investments LLC bought a new stake in Diamondback Energy during the fourth quarter valued at about $28,000. R Squared Ltd purchased a new position in shares of Diamondback Energy in the 4th quarter worth approximately $29,000. UMB Bank n.a. grew its position 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 worth $31,000 after buying an additional 136 shares during the last quarter. Key Financial Inc raised its stake 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 worth $34,000 after acquiring an additional 188 shares in the last quarter. Finally, Rakuten Securities Inc. lifted its position in Diamondback Energy by 62.4% during the fourth quarter. Rakuten Securities Inc. now owns 276 shares of the oil and natural gas company's stock valued at $45,000 after acquiring an additional 106 shares during the last quarter. Institutional investors own 90.01% of the company's stock.

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Diamondback Energy Price Performance

Shares of NASDAQ:FANG traded up $0.88 during trading on Thursday, reaching $158.48. The stock had a trading volume of 2,048,819 shares, compared to its average volume of 1,845,134. The business has a fifty day moving average price of $161.05 and a 200-day moving average price of $170.85. Diamondback Energy, Inc. has a 1-year low of $137.09 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 stock has a market cap of $45.87 billion, a PE ratio of 9.07, a PEG ratio of 1.24 and a beta of 1.85.

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 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $3.57 by $0.07. The business had revenue of $3.71 billion during 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, equities analysts forecast that Diamondback Energy, Inc. will post 15.49 earnings per share for the current fiscal 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 paid a $1.00 dividend. 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 annualized dividend and a dividend yield of 2.52%. Diamondback Energy's dividend payout ratio is 25.32%.

Insider Activity

In other Diamondback Energy news, Director Frank D. Tsuru acquired 2,000 shares of the stock in a transaction dated Friday, February 28th. The stock was acquired at an average price 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 in the company, valued at $896,802.30. This trade represents a 53.62 % increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 0.48% of the company's stock.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on FANG. Piper Sandler reduced their price target on Diamondback Energy from $252.00 to $232.00 and set an "overweight" rating on the stock in a research report on Tuesday, December 17th. UBS Group increased their price target on Diamondback Energy from $212.00 to $216.00 and gave the company a "buy" rating in a research note on Thursday, February 13th. Mizuho boosted their price target on Diamondback Energy from $201.00 to $204.00 and gave the stock an "outperform" rating in a research note on Tuesday, February 25th. Williams Trading set a $190.00 price objective on shares of Diamondback Energy in a research report on Wednesday, March 5th. Finally, Truist Financial boosted 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. Four investment analysts have rated the stock with a hold rating, eighteen have given a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of $209.92.

Diamondback Energy Company 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.