Tower Bridge Advisors Has $1.45 Million Holdings in Diamondback Energy, Inc. (NASDAQ:FANG)

Tower Bridge Advisors grew its position in Diamondback Energy, Inc. (NASDAQ:FANG - Free Report) by 27.4% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 8,828 shares of the oil and natural gas company's stock after acquiring an additional 1,898 shares during the period. Tower Bridge Advisors' holdings in Diamondback Energy were worth $1,446,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of the company. Financial Advocates Investment Management raised its stake in shares of Diamondback Energy by 3.0% in the third quarter. Financial Advocates Investment Management now owns 1,907 shares of the oil and natural gas company's stock valued at $329,000 after acquiring an additional 55 shares during the last quarter. Lakewood Asset Management LLC raised its stake in shares of Diamondback Energy by 0.5% in the fourth quarter. Lakewood Asset Management LLC now owns 11,340 shares of the oil and natural gas company's stock valued at $1,858,000 after acquiring an additional 60 shares during the last quarter. West Family Investments Inc. raised its stake in shares of Diamondback Energy by 3.4% in the third quarter. West Family Investments Inc. now owns 1,852 shares of the oil and natural gas company's stock valued at $319,000 after acquiring an additional 61 shares during the last quarter. Magnolia Capital Advisors LLC raised its stake in shares of Diamondback Energy by 2.0% in the fourth quarter. Magnolia Capital Advisors LLC now owns 3,247 shares of the oil and natural gas company's stock valued at $532,000 after acquiring an additional 64 shares during the last quarter. Finally, Citizens Financial Group Inc. RI raised its stake in shares of Diamondback Energy by 2.4% in the third quarter. Citizens Financial Group Inc. RI now owns 2,795 shares of the oil and natural gas company's stock valued at $482,000 after acquiring an additional 65 shares during the last quarter. Institutional investors own 90.01% of the company's stock.

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on the stock. Truist Financial lifted their target price on shares of Diamondback Energy from $236.00 to $238.00 and gave the company a "buy" rating in a research note on Wednesday, February 19th. Raymond James boosted their price objective on shares of Diamondback Energy from $237.00 to $256.00 and gave the stock a "strong-buy" rating in a research report on Thursday, January 23rd. UBS Group boosted their price objective on shares of Diamondback Energy from $212.00 to $216.00 and gave the stock a "buy" rating in a research report on Thursday, February 13th. Wells Fargo & Company boosted their price objective on shares of Diamondback Energy from $218.00 to $219.00 and gave the stock an "overweight" rating in a research report on Tuesday, December 17th. Finally, The Goldman Sachs Group initiated coverage on shares of Diamondback Energy in a research report on Monday, December 2nd. They issued a "buy" rating and a $227.00 price objective for the company. Four research analysts have rated the stock with a hold rating, eighteen have assigned a buy rating and two have assigned a strong buy rating to the company's stock. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $216.09.

Diamondback Energy Trading Down 6.9 %

Shares of FANG stock traded down $10.96 on Monday, hitting $148.00. The stock had a trading volume of 3,492,615 shares, compared to its average volume of 2,321,784. Diamondback Energy, Inc. has a twelve month low of $147.70 and a twelve month high of $214.50. The firm has a market cap of $42.84 billion, a P/E ratio of 8.47, a PEG ratio of 1.24 and a beta of 1.86. The company has a current ratio of 0.45, a quick ratio of 0.42 and a debt-to-equity ratio of 0.31. The company has a fifty day moving average price of $165.25 and a two-hundred day moving average price of $174.70.

Diamondback Energy (NASDAQ:FANG - Get Free Report) last announced its quarterly earnings results on Tuesday, February 25th. The oil and natural gas company reported $3.64 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.57 by $0.07. Diamondback Energy had a net margin of 33.64% and a return on equity of 13.68%. The company had revenue of $3.71 billion during the quarter, compared to analyst estimates of $3.55 billion. As a group, 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 will be paid on Thursday, March 13th. Stockholders of record on Thursday, March 6th will be issued a $1.00 dividend. This is a positive change from Diamondback Energy's previous quarterly dividend of $0.90. The ex-dividend date is Thursday, March 6th. This represents a $4.00 annualized dividend and a dividend yield of 2.70%. Diamondback Energy's payout ratio is 25.32%.

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.