Diamondback Energy, Inc. (NASDAQ:FANG) Shares Sold by US Bancorp DE

US Bancorp DE lowered its position in shares of Diamondback Energy, Inc. (NASDAQ:FANG) by 0.5% in the fourth quarter, according to the company in its most recent filing with the SEC. The firm owned 25,598 shares of the oil and natural gas company’s stock after selling 117 shares during the quarter. US Bancorp DE’s holdings in Diamondback Energy were worth $4,194,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. R Squared Ltd acquired a new stake in Diamondback Energy during the 4th quarter worth about $29,000. UMB Bank n.a. lifted its position in 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 lifted its position in Diamondback Energy by 940.0% during the 4th quarter. Key Financial Inc now owns 208 shares of the oil and natural gas company’s stock worth $34,000 after acquiring an additional 188 shares during the period. Ashton Thomas Securities LLC acquired a new stake in Diamondback Energy during the 3rd quarter worth about $52,000. Finally, Synergy Asset Management LLC acquired a new stake in Diamondback Energy during the 4th quarter worth about $67,000. Institutional investors and hedge funds own 90.01% of the company’s stock.

Diamondback Energy Price Performance

NASDAQ:FANG opened at $142.70 on Thursday. Diamondback Energy, Inc. has a 12 month low of $139.57 and a 12 month high of $214.50. The stock has a 50 day moving average of $164.70 and a two-hundred day moving average of $174.12. 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 firm has a market cap of $41.30 billion, a P/E ratio of 8.17, a price-to-earnings-growth ratio of 1.24 and a beta of 1.86.

Diamondback Energy (NASDAQ:FANG) last posted 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. Diamondback Energy had a return on equity of 13.68% and a net margin of 33.64%. The company had revenue of $3.71 billion during the quarter, compared to analyst estimates of $3.55 billion. On average, analysts expect that Diamondback Energy, Inc. will post 15.49 earnings per share for the current fiscal year.

Diamondback Energy Increases Dividend

The company also recently disclosed 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. 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 2.80%. The ex-dividend date is Thursday, March 6th. Diamondback Energy’s payout ratio is 25.32%.

Analyst Upgrades and Downgrades

FANG has been the subject of a number of research reports. Mizuho lifted their price target on Diamondback Energy from $201.00 to $204.00 and gave the stock an “outperform” rating in a research report on Tuesday, February 25th. Morgan Stanley boosted their price objective on Diamondback Energy from $220.00 to $227.00 and gave the company an “overweight” rating in a report on Wednesday, February 19th. StockNews.com raised Diamondback Energy from a “sell” rating to a “hold” rating in a report on Wednesday, November 13th. The Goldman Sachs Group started coverage on Diamondback Energy in a report on Monday, December 2nd. They issued a “buy” rating and a $227.00 price objective for the company. Finally, JPMorgan Chase & Co. boosted their price objective on Diamondback Energy from $191.00 to $195.00 and gave the company an “overweight” rating in a report on Friday, January 17th. Four investment analysts have rated the stock with a hold rating, eighteen have assigned a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $216.09.

Insider Activity

In related news, Director Frank D. Tsuru purchased 2,000 shares of the company’s stock in a transaction dated Friday, February 28th. The stock was acquired at an average cost of $156.51 per share, for a total transaction of $313,020.00. Following the completion of the transaction, the director now directly owns 5,730 shares of the company’s stock, valued at approximately $896,802.30. This trade represents a 53.62 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Company insiders own 0.48% of the company’s stock.

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.