Insider Buying: Diamondback Energy, Inc. (NASDAQ:FANG) Director Acquires 2,000 Shares of Stock

Diamondback Energy, Inc. (NASDAQ:FANG) Director Frank D. Tsuru purchased 2,000 shares of the business’s stock in a transaction on Friday, February 28th. The stock was acquired at an average price of $156.51 per share, with a total value of $313,020.00. Following the completion of the acquisition, the director now directly owns 5,730 shares in the company, valued at $896,802.30. The trade was a 53.62 % increase in their position. The acquisition was disclosed in a filing with the SEC, which is available through the SEC website.

Diamondback Energy Stock Down 1.6 %

Shares of NASDAQ:FANG opened at $142.70 on Thursday. The company has a 50 day moving average of $164.70 and a two-hundred day moving average of $174.12. Diamondback Energy, Inc. has a 52-week low of $139.57 and a 52-week high of $214.50. 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 $41.30 billion, a price-to-earnings ratio of 8.17, a price-to-earnings-growth ratio of 1.24 and a beta of 1.86.

Diamondback Energy (NASDAQ:FANG) last released its quarterly earnings results on Tuesday, February 25th. The oil and natural gas company reported $3.64 earnings per share for the quarter, beating analysts’ consensus estimates of $3.57 by $0.07. Diamondback Energy had a net margin of 33.64% and a return on equity of 13.68%. The business had revenue of $3.71 billion during the quarter, compared to analyst estimates of $3.55 billion. As a group, 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 declared a quarterly dividend, which will be paid on Thursday, March 13th. Investors of record on Thursday, March 6th will be paid a $1.00 dividend. This is a boost from Diamondback Energy’s previous quarterly dividend of $0.90. The ex-dividend date of this dividend is Thursday, March 6th. This represents a $4.00 annualized dividend and a dividend yield of 2.80%. Diamondback Energy’s payout ratio is 25.32%.

Analyst Ratings Changes

FANG has been the subject of several analyst reports. Morgan Stanley upped their target price on Diamondback Energy from $220.00 to $227.00 and gave the company an “overweight” rating in a research note on Wednesday, February 19th. Mizuho upped their price objective on shares of Diamondback Energy from $201.00 to $204.00 and gave the company an “outperform” rating in a research note on Tuesday, February 25th. Truist Financial raised their target price on shares of Diamondback Energy from $236.00 to $238.00 and gave the stock a “buy” rating in a research report on Wednesday, February 19th. 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. Finally, Raymond James lifted their price target on shares of Diamondback Energy from $237.00 to $256.00 and gave the company a “strong-buy” rating in a report on Thursday, January 23rd. Four investment analysts have rated the stock with a hold rating, eighteen have given a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat, Diamondback Energy has a consensus rating of “Moderate Buy” and an average target price of $216.09.

Institutional Investors Weigh In On Diamondback Energy

Hedge funds have recently bought and sold shares of the business. Wintrust Investments LLC purchased a new position in shares of Diamondback Energy during the 4th quarter valued at approximately $28,000. R Squared Ltd acquired a new stake in Diamondback Energy in the fourth quarter valued at $29,000. UMB Bank n.a. boosted its stake 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 valued at $31,000 after acquiring an additional 136 shares during the last quarter. Fourth Dimension Wealth LLC acquired a new position in Diamondback Energy during the 4th quarter worth $33,000. Finally, Key Financial Inc increased its position 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 worth $34,000 after purchasing an additional 188 shares during the last quarter. Institutional investors and hedge funds own 90.01% of the company’s stock.

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.