Diamondback Energy, Inc. (NASDAQ:FANG) Shares Acquired by SevenBridge Financial Group LLC

SevenBridge Financial Group LLC boosted its position in Diamondback Energy, Inc. (NASDAQ:FANG) by 10.8% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 20,388 shares of the oil and natural gas company’s stock after purchasing an additional 1,990 shares during the quarter. SevenBridge Financial Group LLC’s holdings in Diamondback Energy were worth $3,303,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the company. Raymond James Financial Inc. bought a new position in shares of Diamondback Energy in the fourth quarter worth $298,327,000. Assenagon Asset Management S.A. grew its position in Diamondback Energy by 1,153.0% in the 4th quarter. Assenagon Asset Management S.A. now owns 1,132,918 shares of the oil and natural gas company’s stock valued at $185,606,000 after buying an additional 1,042,505 shares in the last quarter. Diamond Hill Capital Management Inc. grew its position in Diamondback Energy by 30.5% in the 4th quarter. Diamond Hill Capital Management Inc. now owns 2,817,554 shares of the oil and natural gas company’s stock valued at $461,600,000 after buying an additional 658,644 shares in the last quarter. Boston Partners increased its stake in Diamondback Energy by 12.4% during the 4th quarter. Boston Partners now owns 5,169,742 shares of the oil and natural gas company’s stock valued at $849,202,000 after buying an additional 571,820 shares during the period. Finally, Zimmer Partners LP bought a new stake in shares of Diamondback Energy during the 3rd quarter worth about $87,924,000. 90.01% of the stock is owned by institutional investors and hedge funds.

Diamondback Energy Price Performance

NASDAQ FANG opened at $160.87 on Wednesday. The company has a 50 day simple moving average of $157.93 and a 200-day simple moving average of $169.57. Diamondback Energy, Inc. has a 52-week low of $137.09 and a 52-week high of $214.50. The firm has a market capitalization of $46.56 billion, a price-to-earnings ratio of 9.21, a price-to-earnings-growth ratio of 1.24 and a beta of 1.85. The company has a debt-to-equity ratio of 0.31, a current ratio of 0.45 and a quick ratio of 0.42.

Diamondback Energy (NASDAQ:FANG) last issued its earnings results on Tuesday, February 25th. The oil and natural gas company reported $3.64 earnings per share (EPS) 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 company had revenue of $3.71 billion during the quarter, compared to analyst estimates of $3.55 billion. Equities research analysts predict that Diamondback Energy, Inc. will post 15.49 earnings per share for the current fiscal year.

Diamondback Energy Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, March 13th. Shareholders of record on Thursday, March 6th were given a $1.00 dividend. 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 2.49%. The ex-dividend date was Thursday, March 6th. Diamondback Energy’s dividend payout ratio is presently 25.32%.

Wall Street Analyst Weigh In

FANG has been the subject of several recent analyst reports. Raymond James decreased their price objective on shares of Diamondback Energy from $245.00 to $214.00 and set a “strong-buy” rating for the company in a report on Wednesday, March 12th. Williams Trading set a $190.00 price target on Diamondback Energy in a research report on Wednesday, March 5th. Barclays dropped their price objective on Diamondback Energy from $210.00 to $200.00 and set an “overweight” rating on the stock in a research note on Tuesday, March 18th. Piper Sandler decreased their target price on Diamondback Energy from $252.00 to $232.00 and set an “overweight” rating for the company in a research note on Tuesday, December 17th. Finally, Royal Bank of Canada reiterated an “outperform” rating and issued a $210.00 price target on shares of Diamondback Energy in a research report on Thursday, January 23rd. Four research analysts have rated the stock with a hold rating, eighteen have given a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $209.33.

Insider Transactions at Diamondback Energy

In other news, Director Frank D. Tsuru acquired 2,000 shares of the company’s stock in a transaction that occurred 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 completion of the acquisition, the director now owns 5,730 shares of the company’s stock, valued at approximately $896,802.30. This represents a 53.62 % increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 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.