Daiwa Securities Group Inc. Boosts Stock Position in Diamondback Energy, Inc. (NASDAQ:FANG)

Daiwa Securities Group Inc. grew its holdings in Diamondback Energy, Inc. (NASDAQ:FANG) by 32.7% during the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 45,144 shares of the oil and natural gas company’s stock after acquiring an additional 11,115 shares during the quarter. Daiwa Securities Group Inc.’s holdings in Diamondback Energy were worth $7,396,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. R Squared Ltd purchased a new stake in shares of Diamondback Energy during the 4th quarter worth approximately $29,000. UMB Bank n.a. increased its position in shares of Diamondback Energy by 247.3% during the fourth quarter. UMB Bank n.a. now owns 191 shares of the oil and natural gas company’s stock worth $31,000 after purchasing an additional 136 shares in the last quarter. Key Financial Inc lifted 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 purchasing an additional 188 shares during the last quarter. Smithfield Trust Co boosted its position in shares of Diamondback Energy by 37.8% in the 4th quarter. Smithfield Trust Co now owns 310 shares of the oil and natural gas company’s stock valued at $50,000 after purchasing an additional 85 shares during the period. Finally, Ashton Thomas Securities LLC acquired a new position in Diamondback Energy during the third quarter worth approximately $52,000. Hedge funds and other institutional investors own 90.01% of the company’s stock.

Diamondback Energy Stock Performance

NASDAQ FANG opened at $144.65 on Wednesday. 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 market capitalization of $41.87 billion, a PE ratio of 8.28, a price-to-earnings-growth ratio of 1.24 and a beta of 1.84. The business’s 50-day moving average price is $163.18 and its 200 day moving average price is $172.54. Diamondback Energy, Inc. has a twelve month low of $137.09 and a twelve month high of $214.50.

Diamondback Energy (NASDAQ:FANG) last released its 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 firm 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%. On average, research analysts predict that Diamondback Energy, Inc. will post 15.49 earnings per share for the current year.

Diamondback Energy Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, March 13th. Shareholders of record on Thursday, March 6th will be paid a dividend of $1.00 per share. The ex-dividend date of this dividend is Thursday, March 6th. This is a positive change from Diamondback Energy’s previous quarterly dividend of $0.90. This represents a $4.00 annualized dividend and a yield of 2.77%. Diamondback Energy’s dividend payout ratio is currently 25.32%.

Insider Transactions at Diamondback Energy

In other Diamondback Energy news, Director Frank D. Tsuru acquired 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 purchase, the director now directly owns 5,730 shares in the company, valued at $896,802.30. This represents a 53.62 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Company insiders own 0.48% of the company’s stock.

Analyst Ratings Changes

A number of brokerages recently weighed in on FANG. StockNews.com upgraded shares of Diamondback Energy from a “sell” rating to a “hold” rating in a research note on Wednesday, November 13th. Morgan Stanley increased their price objective on Diamondback Energy from $220.00 to $227.00 and gave the stock an “overweight” rating in a research report on Wednesday, February 19th. Truist Financial upped their price target on Diamondback Energy from $236.00 to $238.00 and gave the stock a “buy” rating in a research note on Wednesday, February 19th. UBS Group lifted their price objective on shares of Diamondback Energy from $212.00 to $216.00 and gave the company a “buy” rating in a research report on Thursday, February 13th. Finally, Royal Bank of Canada restated an “outperform” rating and issued a $210.00 target price on shares of Diamondback Energy in a research note on Thursday, January 23rd. One equities research analyst has rated the stock with a sell rating, three have issued 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 has a consensus rating of “Moderate Buy” and an average price target of $215.00.

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.