Keybank National Association OH Has $2.85 Million Holdings in Diamondback Energy, Inc. (NASDAQ:FANG)

Keybank National Association OH decreased its position in shares of Diamondback Energy, Inc. (NASDAQ:FANG) by 0.8% in the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 17,421 shares of the oil and natural gas company’s stock after selling 145 shares during the period. Keybank National Association OH’s holdings in Diamondback Energy were worth $2,854,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. Farther Finance Advisors LLC raised its position in Diamondback Energy by 136.6% in the 3rd quarter. Farther Finance Advisors LLC now owns 1,822 shares of the oil and natural gas company’s stock valued at $314,000 after purchasing an additional 1,052 shares during the last quarter. Robeco Institutional Asset Management B.V. increased its stake in shares of Diamondback Energy by 5.6% in the third quarter. Robeco Institutional Asset Management B.V. now owns 33,064 shares of the oil and natural gas company’s stock valued at $5,700,000 after buying an additional 1,752 shares in the last quarter. QRG Capital Management Inc. raised its holdings in shares of Diamondback Energy by 14.2% in the third quarter. QRG Capital Management Inc. now owns 8,437 shares of the oil and natural gas company’s stock valued at $1,455,000 after buying an additional 1,048 shares during the last quarter. Crescent Grove Advisors LLC lifted its position in Diamondback Energy by 34.4% during the 3rd quarter. Crescent Grove Advisors LLC now owns 1,405 shares of the oil and natural gas company’s stock worth $242,000 after buying an additional 360 shares in the last quarter. Finally, Foster & Motley Inc. increased its position in Diamondback Energy by 6.6% in the 3rd quarter. Foster & Motley Inc. now owns 6,688 shares of the oil and natural gas company’s stock valued at $1,153,000 after acquiring an additional 415 shares in the last quarter. Institutional investors own 90.01% of the company’s stock.

Diamondback Energy Stock Performance

Shares of FANG stock opened at $139.90 on Friday. The company has a debt-to-equity ratio of 0.31, a quick ratio of 0.42 and a current ratio of 0.45. Diamondback Energy, Inc. has a 52 week low of $138.94 and a 52 week high of $214.50. The company’s 50 day moving average price is $164.34 and its two-hundred day moving average price is $173.89. The company has a market capitalization of $40.49 billion, a P/E ratio of 8.01, a price-to-earnings-growth ratio of 1.24 and a beta of 1.86.

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 analysts’ consensus estimates of $3.57 by $0.07. The business had revenue of $3.71 billion for the quarter, compared to analyst estimates of $3.55 billion. Diamondback Energy had a net margin of 33.64% and a return on equity of 13.68%. 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 declared a quarterly dividend, which will be paid on Thursday, March 13th. Stockholders of record on Thursday, March 6th will be issued a $1.00 dividend. This represents a $4.00 dividend on an annualized basis and a dividend yield of 2.86%. This is a positive change from Diamondback Energy’s previous quarterly dividend of $0.90. The ex-dividend date of this dividend is Thursday, March 6th. Diamondback Energy’s payout ratio is 25.32%.

Analyst Ratings Changes

Several equities research analysts have recently commented on the company. Morgan Stanley lifted 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. The Goldman Sachs Group began coverage on Diamondback Energy in a research report on Monday, December 2nd. They issued a “buy” rating and a $227.00 price objective for the company. Wells Fargo & Company upped their target price on shares of Diamondback Energy from $218.00 to $219.00 and gave the company an “overweight” rating in a research report on Tuesday, December 17th. StockNews.com upgraded shares of Diamondback Energy from a “sell” rating to a “hold” rating in a research report on Wednesday, November 13th. Finally, Piper Sandler dropped their price target on shares of Diamondback Energy from $252.00 to $232.00 and set an “overweight” rating for the company in a research note on Tuesday, December 17th. Four analysts have rated the stock with a hold rating, eighteen have assigned a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat.com, Diamondback Energy has a consensus rating of “Moderate Buy” and a consensus target price of $216.09.

Insider Transactions at Diamondback Energy

In other news, Director Frank D. Tsuru bought 2,000 shares of the business’s stock in a transaction on Friday, February 28th. The shares were purchased at an average price of $156.51 per share, for a total transaction of $313,020.00. Following the purchase, the director now owns 5,730 shares of the company’s stock, valued at approximately $896,802.30. The trade was a 53.62 % increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.48% of the stock is owned by insiders.

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.