Diamondback Energy, Inc. (NASDAQ:FANG) Shares Bought by Headlands Technologies LLC

Headlands Technologies LLC boosted its position in Diamondback Energy, Inc. (NASDAQ:FANG - Free Report) by 49.7% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 9,816 shares of the oil and natural gas company's stock after purchasing an additional 3,261 shares during the quarter. Headlands Technologies LLC's holdings in Diamondback Energy were worth $1,608,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in FANG. 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 buying an additional 91,605 shares during the last quarter. Nemes Rush Group LLC raised its holdings in Diamondback Energy by 8.7% in the 4th quarter. Nemes Rush Group LLC now owns 6,170 shares of the oil and natural gas company's stock valued at $1,011,000 after acquiring an additional 496 shares during the last quarter. HighPoint Advisor Group LLC lifted its stake in Diamondback Energy by 6.9% in the 4th quarter. HighPoint Advisor Group LLC now owns 4,051 shares of the oil and natural gas company's stock worth $656,000 after purchasing an additional 262 shares in the last quarter. Summit Financial LLC lifted its stake in Diamondback Energy by 1.9% in the 4th quarter. Summit Financial LLC now owns 67,783 shares of the oil and natural gas company's stock worth $11,105,000 after purchasing an additional 1,258 shares in the last quarter. Finally, Alliancebernstein L.P. boosted its holdings in shares of Diamondback Energy by 4.9% during the 4th quarter. Alliancebernstein L.P. now owns 231,979 shares of the oil and natural gas company's stock worth $38,005,000 after purchasing an additional 10,895 shares during the last quarter. Hedge funds and other institutional investors own 90.01% of the company's stock.

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Insider Buying and Selling

In other news, Director Frank D. Tsuru acquired 2,000 shares of Diamondback Energy stock in a transaction dated Friday, February 28th. The shares were acquired at an average cost of $156.51 per share, for a total transaction of $313,020.00. Following the acquisition, 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 ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 0.48% of the stock is owned by insiders.

Diamondback Energy Stock Down 12.7 %

FANG stock traded down $17.91 during midday trading on Friday, hitting $123.37. The company's stock had a trading volume of 5,423,563 shares, compared to its average volume of 2,006,389. Diamondback Energy, Inc. has a 52-week low of $123.15 and a 52-week high of $214.50. The firm has a 50-day simple moving average of $155.91 and a 200-day simple moving average of $168.89. 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 firm has a market capitalization of $35.71 billion, a P/E ratio of 7.06, a PEG ratio of 1.24 and a beta of 1.44.

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 the consensus estimate of $3.57 by $0.07. The firm had revenue of $3.71 billion during 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%. As a group, equities analysts forecast that Diamondback Energy, Inc. will post 15.49 EPS for the current year.

Diamondback Energy Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, March 13th. Investors of record on Thursday, March 6th were issued a $1.00 dividend. This is a boost 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 yield of 3.24%. Diamondback Energy's dividend payout ratio (DPR) is 25.32%.

Analysts Set New Price Targets

A number of brokerages recently commented on FANG. UBS Group lifted their price objective on Diamondback Energy from $212.00 to $216.00 and gave the stock a "buy" rating in a research report on Thursday, February 13th. 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 report on Tuesday, December 17th. JPMorgan Chase & Co. dropped their price objective 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. Morgan Stanley cut their price objective on shares of Diamondback Energy from $227.00 to $206.00 and set an "overweight" rating for the company in a research report on Thursday, March 27th. Finally, 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 report on Wednesday, February 19th. Four analysts have rated the stock with a hold rating, eighteen have given a buy rating and two have assigned a strong buy rating to the company's stock. Based on data from MarketBeat, Diamondback Energy presently has an average rating of "Moderate Buy" and a consensus price target of $209.33.

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.