Diamondback Energy, Inc. (NASDAQ:FANG) Shares Sold by Gulf International Bank UK Ltd

Gulf International Bank UK Ltd lessened its position in shares of Diamondback Energy, Inc. (NASDAQ:FANG) by 0.7% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 13,504 shares of the oil and natural gas company’s stock after selling 97 shares during the period. Gulf International Bank UK Ltd’s holdings in Diamondback Energy were worth $2,212,000 as of its most recent SEC filing.

Several other large investors have also modified their holdings of FANG. R Squared Ltd acquired a new position in shares of Diamondback Energy in the 4th quarter valued at $29,000. UMB Bank n.a. boosted its holdings in shares of Diamondback Energy by 247.3% in the 4th quarter. UMB Bank n.a. now owns 191 shares of the oil and natural gas company’s stock valued at $31,000 after buying an additional 136 shares in the last quarter. Key Financial Inc boosted its holdings in shares of Diamondback Energy by 940.0% in the 4th quarter. Key Financial Inc now owns 208 shares of the oil and natural gas company’s stock valued at $34,000 after buying an additional 188 shares in the last quarter. Ashton Thomas Securities LLC acquired a new position in shares of Diamondback Energy in the 3rd quarter valued at $52,000. Finally, Synergy Asset Management LLC acquired a new position in shares of Diamondback Energy in the 4th quarter valued at $67,000. Institutional investors and hedge funds own 90.01% of the company’s stock.

Wall Street Analyst Weigh In

FANG has been the subject of several research analyst reports. UBS Group upped their target price on shares of Diamondback Energy from $212.00 to $216.00 and gave the company a “buy” rating in a report on Thursday, February 13th. Raymond James increased their price target on shares of Diamondback Energy from $237.00 to $256.00 and gave the stock a “strong-buy” rating in a research note on Thursday, January 23rd. Truist Financial increased their price target on shares of Diamondback Energy from $236.00 to $238.00 and gave the stock a “buy” rating in a research note on Wednesday, February 19th. The Goldman Sachs Group began coverage on shares of Diamondback Energy in a research note on Monday, December 2nd. They set a “buy” rating and a $227.00 price target for the company. Finally, Wells Fargo & Company increased their price target on shares of Diamondback Energy from $218.00 to $219.00 and gave the stock an “overweight” rating in a research note on Tuesday, December 17th. Four analysts have rated the stock with a hold rating, eighteen have given a buy rating and two have given a strong buy rating to the stock. According to MarketBeat.com, Diamondback Energy currently has an average rating of “Moderate Buy” and an average price target of $216.09.

Diamondback Energy Stock Performance

Shares of FANG opened at $158.96 on Friday. The company has a 50-day simple moving average of $165.42 and a 200-day simple moving average of $175.33. The company has a quick ratio of 0.42, a current ratio of 0.45 and a debt-to-equity ratio of 0.31. The company has a market capitalization of $46.41 billion, a PE ratio of 9.10, a P/E/G ratio of 1.24 and a beta of 1.86. Diamondback Energy, Inc. has a 52-week low of $151.00 and a 52-week high of $214.50.

Diamondback Energy (NASDAQ:FANG) 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 analysts’ consensus estimates 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%. Equities research analysts predict that Diamondback Energy, Inc. will post 15.49 earnings per share for the current fiscal year.

Diamondback Energy Increases Dividend

The business 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 represents a $4.00 dividend on an annualized basis and a dividend yield of 2.52%. The ex-dividend date of this dividend is Thursday, March 6th. This is an increase from Diamondback Energy’s previous quarterly dividend of $0.90. 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.