Scotia Capital Inc. Has $2.80 Million Stock Position in Diamondback Energy, Inc. (NASDAQ:FANG)

Scotia Capital Inc. lifted its position in shares of Diamondback Energy, Inc. (NASDAQ:FANG - Free Report) by 13.7% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 17,094 shares of the oil and natural gas company's stock after buying an additional 2,063 shares during the quarter. Scotia Capital Inc.'s holdings in Diamondback Energy were worth $2,801,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. Wintrust Investments LLC purchased a new stake in Diamondback Energy in the 4th quarter worth approximately $28,000. R Squared Ltd purchased a new stake in shares of Diamondback Energy in the fourth quarter valued at $29,000. UMB Bank n.a. increased its stake in Diamondback Energy by 247.3% in the fourth 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 lifted its position in 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 during the period. Finally, Rakuten Securities Inc. boosted its stake in Diamondback Energy by 62.4% in the 4th quarter. Rakuten Securities Inc. now owns 276 shares of the oil and natural gas company's stock worth $45,000 after buying an additional 106 shares during the last quarter. Institutional investors and hedge funds own 90.01% of the company's stock.

Analyst Ratings Changes

FANG has been the topic of several recent analyst reports. Truist Financial increased their price objective on shares of Diamondback Energy from $238.00 to $242.00 and gave the stock a "buy" rating in a report on Thursday. UBS Group decreased their price target on shares of Diamondback Energy from $175.00 to $163.00 and set a "buy" rating on the stock in a report on Thursday. Citigroup raised Diamondback Energy from a "reduce" rating to a "buy" rating and increased their target price for the stock from $157.00 to $180.00 in a research report on Monday, April 7th. Morgan Stanley restated an "overweight" rating on shares of Diamondback Energy in a report on Tuesday. Finally, Royal Bank of Canada reaffirmed an "outperform" rating and set a $210.00 price target on shares of Diamondback Energy in a research report on Thursday, January 23rd. Three equities 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. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $206.13.

Diamondback Energy Stock Performance

FANG stock traded up $7.42 on Friday, reaching $137.64. The company's stock had a trading volume of 3,665,218 shares, compared to its average volume of 2,080,806. The firm has a fifty day moving average of $147.62 and a two-hundred day moving average of $165.20. 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 market capitalization of $40.48 billion, a P/E ratio of 7.88, a price-to-earnings-growth ratio of 1.24 and a beta of 1.44. Diamondback Energy, Inc. has a 52 week low of $114.00 and a 52 week high of $214.50.

Diamondback Energy (NASDAQ:FANG - Get Free Report) last posted 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 business 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, analysts predict that Diamondback Energy, Inc. will post 15.49 EPS for the current fiscal year.

Diamondback Energy Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, March 13th. Shareholders of record on Thursday, March 6th were given a $1.00 dividend. This represents a $4.00 dividend on an annualized basis and a yield of 2.91%. This is an increase from Diamondback Energy's previous quarterly dividend of $0.90. The ex-dividend date was Thursday, March 6th. Diamondback Energy's dividend payout ratio is 25.32%.

Insider Activity

In other news, Director Frank D. Tsuru bought 2,000 shares of the firm's stock in a transaction on Friday, February 28th. The stock was bought at an average cost of $156.51 per share, for a total transaction of $313,020.00. Following the completion of the acquisition, the director now directly owns 5,730 shares in the company, valued at $896,802.30. This represents a 53.62 % increase in their position. The purchase was disclosed in a filing with the SEC, which is available at this hyperlink. Insiders own 0.48% of the company's stock.

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.