Diamondback Energy, Inc. (NASDAQ:FANG) Shares Bought by XTX Topco Ltd

XTX Topco Ltd raised its position in Diamondback Energy, Inc. (NASDAQ:FANG - Free Report) by 38.6% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 8,438 shares of the oil and natural gas company's stock after purchasing an additional 2,350 shares during the period. XTX Topco Ltd's holdings in Diamondback Energy were worth $1,382,000 at the end of the most recent reporting period.

Other hedge funds also recently modified their holdings of the company. Wintrust Investments LLC purchased a new position in Diamondback Energy during the fourth quarter worth about $28,000. R Squared Ltd acquired a new position in shares of Diamondback Energy during the 4th quarter valued at about $29,000. UMB Bank n.a. lifted its holdings in shares of Diamondback Energy by 247.3% during the 4th quarter. UMB Bank n.a. now owns 191 shares of the oil and natural gas company's stock worth $31,000 after acquiring an additional 136 shares during the period. Key Financial Inc grew its holdings in Diamondback Energy by 940.0% in the fourth quarter. Key Financial Inc now owns 208 shares of the oil and natural gas company's stock valued at $34,000 after purchasing an additional 188 shares during the period. Finally, Rakuten Securities Inc. increased its position in Diamondback Energy by 62.4% during the fourth quarter. Rakuten Securities Inc. now owns 276 shares of the oil and natural gas company's stock worth $45,000 after purchasing an additional 106 shares during the last quarter. 90.01% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, Director Frank D. Tsuru bought 2,000 shares of the stock in a transaction dated Friday, February 28th. The stock was bought 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 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 purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.48% of the stock is owned by company insiders.

Analysts Set New Price Targets

Several brokerages have recently issued reports on FANG. Williams Trading set a $190.00 price objective on shares of Diamondback Energy in a research note on Wednesday, March 5th. JPMorgan Chase & Co. lowered their price target on Diamondback Energy from $167.00 to $166.00 and set an "overweight" rating for the company in a research report on Thursday, April 10th. Truist Financial raised their price objective on Diamondback Energy from $238.00 to $242.00 and gave the stock a "buy" rating in a report on Thursday. Barclays decreased 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. 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 research analysts have rated the stock with a hold rating, nineteen have given a buy rating and two have assigned a strong buy rating to the company's stock. According to data from MarketBeat, Diamondback Energy has an average rating of "Moderate Buy" and an average price target of $206.13.

Diamondback Energy Stock Performance

NASDAQ:FANG traded up $7.42 during trading hours on Friday, reaching $137.64. 3,665,218 shares of the stock were exchanged, compared to its average volume of 2,086,016. The stock has a market capitalization of $40.48 billion, a P/E ratio of 7.88, a P/E/G ratio of 1.24 and a beta of 1.44. The firm has a 50 day simple moving average of $147.14 and a 200-day simple moving average of $164.65. The company has a quick ratio of 0.42, a current ratio of 0.45 and a debt-to-equity ratio of 0.31. 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 announced its quarterly earnings data on Tuesday, February 25th. The oil and natural gas company reported $3.64 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.57 by $0.07. The firm had revenue of $3.71 billion for 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, sell-side analysts forecast that Diamondback Energy, Inc. will post 15.49 earnings per share for the current fiscal year.

Diamondback Energy Increases Dividend

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

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.