Diamondback Energy, Inc. (NASDAQ:FANG) Shares Sold by Vanguard Group Inc.

Vanguard Group Inc. reduced its position in shares of Diamondback Energy, Inc. (NASDAQ:FANG - Free Report) by 1.3% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 23,147,755 shares of the oil and natural gas company's stock after selling 315,614 shares during the quarter. Vanguard Group Inc. owned about 7.93% of Diamondback Energy worth $3,792,297,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also bought and sold shares of FANG. LPL Financial LLC increased its stake in shares of Diamondback Energy by 5.4% during the fourth quarter. LPL Financial LLC now owns 181,642 shares of the oil and natural gas company's stock valued at $29,758,000 after buying an additional 9,334 shares during the period. Fox Run Management L.L.C. purchased a new position in Diamondback Energy during the 4th quarter valued at about $412,000. KLP Kapitalforvaltning AS bought a new stake in shares of Diamondback Energy in the 4th quarter valued at about $10,665,000. Mizuho Securities USA LLC lifted its position in shares of Diamondback Energy by 45.8% in the 4th quarter. Mizuho Securities USA LLC now owns 17,711 shares of the oil and natural gas company's stock worth $2,902,000 after purchasing an additional 5,563 shares during the period. Finally, Runnymede Capital Advisors Inc. bought a new position in shares of Diamondback Energy during the fourth quarter valued at approximately $897,000. 90.01% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of analysts have weighed in on FANG shares. Barclays lowered their target price on Diamondback Energy from $210.00 to $200.00 and set an "overweight" rating for the company in a report on Tuesday, March 18th. Wolfe Research upgraded Diamondback Energy from a "peer perform" rating to an "outperform" rating and set a $190.00 price objective for the company in a research note on Friday, January 3rd. Mizuho lifted their target price on Diamondback Energy from $201.00 to $204.00 and gave the company an "outperform" rating in a research note on Tuesday, February 25th. Truist Financial increased their price target on shares of Diamondback Energy from $236.00 to $238.00 and gave the company a "buy" rating in a research report on Wednesday, February 19th. 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 on the stock. Four investment 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. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $209.33.

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Insider Buying and Selling at Diamondback Energy

In related news, Director Frank D. Tsuru bought 2,000 shares of the company's stock in a transaction that occurred on Friday, February 28th. The shares were purchased at an average cost of $156.51 per share, with a total value of $313,020.00. Following the completion of the acquisition, the director now directly owns 5,730 shares in the company, valued at approximately $896,802.30. The trade was a 53.62 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 0.48% of the company's stock.

Diamondback Energy Stock Performance

NASDAQ FANG traded down $2.69 during trading hours on Friday, reaching $157.54. The stock had a trading volume of 1,635,728 shares, compared to its average volume of 1,971,998. Diamondback Energy, Inc. has a 52-week low of $137.09 and a 52-week high of $214.50. The stock has a fifty day moving average of $158.66 and a 200 day moving average of $169.73. 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 $45.60 billion, a P/E ratio of 9.02, a price-to-earnings-growth ratio of 1.24 and a beta of 1.85.

Diamondback Energy (NASDAQ:FANG - Get Free Report) last released its quarterly earnings data on Tuesday, February 25th. The oil and natural gas company reported $3.64 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 business had revenue of $3.71 billion for the quarter, compared to the consensus estimate of $3.55 billion. Sell-side analysts predict that Diamondback Energy, Inc. will post 15.49 earnings per share for the current year.

Diamondback Energy Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, March 13th. Shareholders of record on Thursday, March 6th were given a dividend of $1.00 per share. This is an increase from Diamondback Energy's previous quarterly dividend of $0.90. This represents a $4.00 annualized dividend and a yield of 2.54%. The ex-dividend date of this dividend was Thursday, March 6th. Diamondback Energy's dividend payout ratio (DPR) is currently 25.32%.

About Diamondback Energy

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.