FineMark National Bank & Trust Acquires 288 Shares of Diamondback Energy, Inc. (NASDAQ:FANG)

FineMark National Bank & Trust grew its holdings in Diamondback Energy, Inc. (NASDAQ:FANG) by 0.8% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 37,027 shares of the oil and natural gas company’s stock after buying an additional 288 shares during the period. FineMark National Bank & Trust’s holdings in Diamondback Energy were worth $6,066,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in the business. Wintrust Investments LLC bought a new position in Diamondback Energy in the 4th quarter valued at about $28,000. R Squared Ltd acquired a new position in shares of Diamondback Energy in the fourth quarter valued at approximately $29,000. UMB Bank n.a. increased its stake in shares of Diamondback Energy by 247.3% during the fourth quarter. UMB Bank n.a. now owns 191 shares of the oil and natural gas company’s stock worth $31,000 after purchasing an additional 136 shares during the period. Key Financial Inc lifted its holdings 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 purchasing an additional 188 shares during the last quarter. Finally, Rakuten Securities Inc. boosted its stake in Diamondback Energy by 62.4% in the 4th quarter. Rakuten Securities Inc. now owns 276 shares of the oil and natural gas company’s stock valued at $45,000 after purchasing an additional 106 shares during the period. 90.01% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on the company. Citigroup lowered their price objective on Diamondback Energy from $195.00 to $157.00 and set a “neutral” rating on the stock in a research report on Monday, March 17th. Barclays dropped their price objective on shares of Diamondback Energy from $210.00 to $200.00 and set an “overweight” rating for the company in a research note on Tuesday, March 18th. JPMorgan Chase & Co. decreased their target price on shares of Diamondback Energy from $212.00 to $167.00 and set an “overweight” rating on the stock in a research report on Thursday, March 13th. Mizuho lifted their price target on shares of Diamondback Energy from $201.00 to $204.00 and gave the company an “outperform” rating in a research report on Tuesday, February 25th. Finally, Morgan Stanley increased their price target on Diamondback Energy from $220.00 to $227.00 and gave the stock an “overweight” rating in a research report on Wednesday, February 19th. Four investment 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. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $209.92.

Diamondback Energy Stock Up 1.6 %

Shares of FANG opened at $161.01 on Tuesday. 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 $137.09 and a 52 week high of $214.50. The stock has a market capitalization of $46.60 billion, a price-to-earnings ratio of 9.22, a PEG ratio of 1.24 and a beta of 1.85. The stock has a fifty day moving average of $160.14 and a 200-day moving average of $170.13.

Diamondback Energy (NASDAQ:FANG) last announced its quarterly earnings results on Tuesday, February 25th. The oil and natural gas company reported $3.64 EPS for the quarter, beating analysts’ consensus estimates of $3.57 by $0.07. The firm had revenue of $3.71 billion for 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%. As a group, sell-side 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. Investors of record on Thursday, March 6th were 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 was Thursday, March 6th. This represents a $4.00 annualized dividend and a dividend yield of 2.48%. Diamondback Energy’s payout ratio is currently 25.32%.

Insider Buying and Selling

In related news, Director Frank D. Tsuru purchased 2,000 shares of the firm’s stock in a transaction dated Friday, February 28th. The stock was bought at an average price of $156.51 per share, with a total value of $313,020.00. Following the completion of the purchase, the director now owns 5,730 shares in the company, valued at approximately $896,802.30. This represents a 53.62 % increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available at this link. 0.48% of the stock is owned by corporate insiders.

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.