M&T Bank Corp Sells 203 Shares of Diamondback Energy, Inc. (NASDAQ:FANG)

M&T Bank Corp lessened its position in Diamondback Energy, Inc. (NASDAQ:FANG) by 0.9% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 23,075 shares of the oil and natural gas company’s stock after selling 203 shares during the period. M&T Bank Corp’s holdings in Diamondback Energy were worth $3,579,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of FANG. Wellington Management Group LLP lifted its stake in Diamondback Energy by 4.8% in the third quarter. Wellington Management Group LLP now owns 14,266,640 shares of the oil and natural gas company’s stock worth $2,209,617,000 after acquiring an additional 648,317 shares during the period. Morgan Stanley lifted its position in shares of Diamondback Energy by 2.6% in the 3rd quarter. Morgan Stanley now owns 3,494,159 shares of the oil and natural gas company’s stock worth $541,175,000 after purchasing an additional 89,663 shares during the period. Invesco Ltd. boosted its stake in shares of Diamondback Energy by 6.6% during the 3rd quarter. Invesco Ltd. now owns 3,320,567 shares of the oil and natural gas company’s stock valued at $514,289,000 after purchasing an additional 206,189 shares in the last quarter. Massachusetts Financial Services Co. MA increased its position in shares of Diamondback Energy by 39.9% during the third quarter. Massachusetts Financial Services Co. MA now owns 3,007,599 shares of the oil and natural gas company’s stock valued at $465,817,000 after buying an additional 858,446 shares during the period. Finally, Northern Trust Corp raised its stake in Diamondback Energy by 0.6% in the third quarter. Northern Trust Corp now owns 1,999,579 shares of the oil and natural gas company’s stock worth $309,695,000 after buying an additional 12,237 shares in the last quarter. 90.01% of the stock is owned by institutional investors.

Diamondback Energy Trading Down 0.2 %

Diamondback Energy stock opened at $203.68 on Wednesday. The business has a 50-day simple moving average of $196.55 and a two-hundred day simple moving average of $171.35. Diamondback Energy, Inc. has a 52-week low of $123.41 and a 52-week high of $211.96. The company has a quick ratio of 0.89, a current ratio of 0.92 and a debt-to-equity ratio of 0.37. The company has a market cap of $36.33 billion, a P/E ratio of 11.48 and a beta of 1.91.

Diamondback Energy (NASDAQ:FANG) last released its quarterly earnings results on Tuesday, April 30th. The oil and natural gas company reported $4.50 earnings per share for the quarter, topping the consensus estimate of $4.29 by $0.21. Diamondback Energy had a net margin of 36.71% and a return on equity of 19.36%. The business had revenue of $2.23 billion for the quarter, compared to the consensus estimate of $2.10 billion. During the same period last year, the firm earned $4.10 earnings per share. The company’s quarterly revenue was up 15.7% on a year-over-year basis. Analysts predict that Diamondback Energy, Inc. will post 18.91 EPS for the current year.

Diamondback Energy Cuts Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, May 22nd. Shareholders of record on Wednesday, May 15th will be given a $0.90 dividend. This represents a $3.60 dividend on an annualized basis and a yield of 1.77%. The ex-dividend date of this dividend is Tuesday, May 14th. Diamondback Energy’s payout ratio is 20.29%.

Insider Transactions at Diamondback Energy

In other Diamondback Energy news, VP Jere W. Thompson III sold 2,675 shares of the firm’s stock in a transaction that occurred on Tuesday, March 19th. The shares were sold at an average price of $192.35, for a total transaction of $514,536.25. Following the sale, the vice president now owns 8,485 shares in the company, valued at approximately $1,632,089.75. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In other Diamondback Energy news, VP Jere W. Thompson III sold 2,675 shares of the stock in a transaction on Tuesday, March 19th. The stock was sold at an average price of $192.35, for a total value of $514,536.25. Following the completion of the sale, the vice president now owns 8,485 shares in the company, valued at approximately $1,632,089.75. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CAO Teresa L. Dick sold 2,000 shares of the business’s stock in a transaction dated Wednesday, March 20th. The shares were sold at an average price of $192.00, for a total value of $384,000.00. Following the completion of the transaction, the chief accounting officer now owns 96,523 shares in the company, valued at $18,532,416. The disclosure for this sale can be found here. Insiders have sold 58,575 shares of company stock valued at $11,491,006 over the last quarter. 0.43% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on the company. StockNews.com raised Diamondback Energy from a “hold” rating to a “buy” rating in a research report on Thursday, May 2nd. Wells Fargo & Company dropped their target price on shares of Diamondback Energy from $227.00 to $224.00 and set an “overweight” rating on the stock in a report on Thursday, May 2nd. Mizuho increased their price target on shares of Diamondback Energy from $200.00 to $217.00 and gave the stock a “buy” rating in a research note on Thursday, April 11th. Piper Sandler boosted their target price on Diamondback Energy from $227.00 to $247.00 and gave the stock an “overweight” rating in a report on Friday, April 19th. Finally, Stifel Nicolaus upped their price target on shares of Diamondback Energy from $224.00 to $229.00 and gave the stock a “buy” rating in a research note on Tuesday, April 23rd. One research analyst has rated the stock with a sell rating, four have issued a hold rating, fourteen have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $205.68.

Diamondback Energy Company 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.