Philadelphia Trust Co. Decreases Holdings in Diamondback Energy, Inc. (NASDAQ:FANG)

Philadelphia Trust Co. lessened its position in shares of Diamondback Energy, Inc. (NASDAQ:FANG - Free Report) by 5.3% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 49,200 shares of the oil and natural gas company's stock after selling 2,764 shares during the period. Philadelphia Trust Co.'s holdings in Diamondback Energy were worth $8,060,000 at the end of the most recent quarter.

A number of other large investors also recently made changes to their positions in FANG. Rockefeller Capital Management L.P. grew its stake in shares of Diamondback Energy by 8.5% in the fourth quarter. Rockefeller Capital Management L.P. now owns 264,114 shares of the oil and natural gas company's stock valued at $43,280,000 after acquiring an additional 20,670 shares in the last quarter. Sterling Capital Management LLC increased its holdings in shares of Diamondback Energy by 6.7% during the fourth quarter. Sterling Capital Management LLC now owns 46,500 shares of the oil and natural gas company's stock worth $7,618,000 after purchasing an additional 2,915 shares during the period. Covestor Ltd grew its position in Diamondback Energy by 95.6% during the fourth quarter. Covestor Ltd now owns 1,377 shares of the oil and natural gas company's stock worth $226,000 after buying an additional 673 shares in the last quarter. Scotia Capital Inc. increased its stake in Diamondback Energy by 13.7% during the 4th quarter. Scotia Capital Inc. now owns 17,094 shares of the oil and natural gas company's stock worth $2,801,000 after acquiring an additional 2,063 shares during the period. Finally, F M Investments LLC lifted its position in shares of Diamondback Energy by 28.8% during the 4th quarter. F M Investments LLC now owns 13,342 shares of the oil and natural gas company's stock valued at $2,186,000 after acquiring an additional 2,987 shares during the period. Institutional investors own 90.01% of the company's stock.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on the stock. Wells Fargo & Company cut their price objective on shares of Diamondback Energy from $219.00 to $215.00 and set an "overweight" rating for the company in a research report on Wednesday, March 12th. Truist Financial upped their price objective on Diamondback Energy from $238.00 to $242.00 and gave the stock a "buy" rating in a research report on Thursday. Citigroup upgraded shares of Diamondback Energy from a "reduce" rating to a "buy" rating and raised their price target for the company from $157.00 to $180.00 in a research note on Monday, April 7th. Raymond James decreased their target price on shares of Diamondback Energy from $245.00 to $214.00 and set a "strong-buy" rating on the stock in a research note on Wednesday, March 12th. Finally, JPMorgan Chase & Co. reduced their price objective on Diamondback Energy from $167.00 to $166.00 and set an "overweight" rating on the stock in a research report on Thursday, April 10th. Three research analysts have rated the stock with a hold rating, nineteen have issued a buy rating and two have given a strong buy rating to the company. According to MarketBeat, Diamondback Energy presently has an average rating of "Moderate Buy" and an average price target of $206.13.

Diamondback Energy Stock Performance

Shares of Diamondback Energy stock traded up $8.22 on Thursday, reaching $138.44. 1,883,418 shares of the company traded hands, compared to its average volume of 2,072,283. The company has a debt-to-equity ratio of 0.31, a current ratio of 0.45 and a quick ratio of 0.42. The company has a 50 day moving average of $148.10 and a 200 day moving average of $165.44. Diamondback Energy, Inc. has a 52 week low of $114.00 and a 52 week high of $214.50. The firm has a market capitalization of $40.71 billion, a PE ratio of 7.92, a PEG ratio of 1.24 and a beta of 1.44.

Diamondback Energy (NASDAQ:FANG - Get Free Report) last announced its quarterly earnings data on Tuesday, February 25th. The oil and natural gas company reported $3.64 earnings per share for the quarter, topping the consensus estimate of $3.57 by $0.07. The company had revenue of $3.71 billion during the quarter, compared to analyst estimates of $3.55 billion. Diamondback Energy had a return on equity of 13.68% and a net margin of 33.64%. Equities analysts forecast 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 paid a dividend of $1.00 per share. The ex-dividend date was Thursday, March 6th. This represents a $4.00 annualized dividend and a yield of 2.89%. This is a boost from Diamondback Energy's previous quarterly dividend of $0.90. Diamondback Energy's payout ratio is currently 25.32%.

Insider Buying and Selling

In other news, Director Frank D. Tsuru purchased 2,000 shares of the firm's stock in a transaction dated Friday, February 28th. The shares were purchased at an average price of $156.51 per share, with a total value of $313,020.00. Following the completion of the acquisition, 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 acquisition was disclosed in a filing with the SEC, which is available through this hyperlink. 0.48% of the stock is currently owned by insiders.

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.