Tower Research Capital LLC TRC Has $2.89 Million Stake in Diamondback Energy, Inc. (NASDAQ:FANG)

Tower Research Capital LLC TRC increased its holdings in shares of Diamondback Energy, Inc. (NASDAQ:FANG) by 22.3% during the 4th quarter, HoldingsChannel reports. The firm owned 17,631 shares of the oil and natural gas company’s stock after purchasing an additional 3,218 shares during the period. Tower Research Capital LLC TRC’s holdings in Diamondback Energy were worth $2,888,000 as of its most recent SEC filing.

A number of other large investors have also bought and sold shares of FANG. Transce3nd LLC bought a new stake in Diamondback Energy in the 4th quarter valued at $38,000. Sharpepoint LLC acquired a new position in shares of Diamondback Energy during the fourth quarter worth about $978,000. MetLife Investment Management LLC raised its position in Diamondback Energy by 1.5% in the 4th quarter. MetLife Investment Management LLC now owns 49,489 shares of the oil and natural gas company’s stock valued at $8,108,000 after buying an additional 751 shares during the last quarter. Ossiam lifted its stake in Diamondback Energy by 96.6% in the 4th quarter. Ossiam now owns 4,669 shares of the oil and natural gas company’s stock valued at $765,000 after acquiring an additional 2,294 shares in the last quarter. Finally, Norinchukin Bank The grew its stake in shares of Diamondback Energy by 31.1% during the 4th quarter. Norinchukin Bank The now owns 12,855 shares of the oil and natural gas company’s stock worth $2,106,000 after acquiring an additional 3,048 shares in the last quarter. 90.01% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on FANG. Truist Financial increased their price objective on shares of Diamondback Energy from $238.00 to $242.00 and gave the stock a “buy” rating in a research note on Thursday, April 17th. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $210.00 price objective on shares of Diamondback Energy in a report on Thursday, January 23rd. Barclays decreased their price target on shares of Diamondback Energy from $210.00 to $200.00 and set an “overweight” rating on the stock in a research note on Tuesday, March 18th. Williams Trading set a $190.00 price target on shares of Diamondback Energy in a research report on Wednesday, March 5th. Finally, Scotiabank reduced their price objective on shares of Diamondback Energy from $215.00 to $175.00 and set a “sector outperform” rating on the stock in a research note on Friday, April 11th. Three analysts have rated the stock with a hold rating, nineteen have given a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $204.29.

Insider Activity at Diamondback Energy

In other Diamondback Energy news, Director Frank D. Tsuru purchased 2,000 shares of Diamondback Energy stock in a transaction that occurred on Friday, February 28th. The shares were bought at an average price of $156.51 per share, for a total transaction of $313,020.00. Following the completion of the transaction, the director now owns 5,730 shares of the company’s stock, valued at approximately $896,802.30. This trade represents a 53.62 % increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available through the SEC website. 0.48% of the stock is owned by corporate insiders.

Diamondback Energy Stock Performance

Shares of FANG opened at $132.35 on Tuesday. Diamondback Energy, Inc. has a 12 month low of $114.00 and a 12 month high of $214.50. The business’s fifty day simple moving average is $146.67 and its two-hundred day simple moving average is $164.21. 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 cap of $38.92 billion, a price-to-earnings ratio of 7.58, a P/E/G ratio of 1.24 and a beta of 1.44.

Diamondback Energy (NASDAQ:FANG) last issued its quarterly earnings data on Tuesday, February 25th. The oil and natural gas company reported $3.64 EPS for the quarter, topping the consensus estimate of $3.57 by $0.07. The company had revenue of $3.71 billion during the quarter, compared to analyst estimates of $3.55 billion. Diamondback Energy had a return on equity of 13.68% and a net margin of 33.64%. Research analysts anticipate 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. Stockholders of record on Thursday, March 6th were paid a $1.00 dividend. This is a positive change from Diamondback Energy’s previous quarterly dividend of $0.90. The ex-dividend date was Thursday, March 6th. This represents a $4.00 dividend on an annualized basis and a dividend yield of 3.02%. Diamondback Energy’s dividend 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.