1,967 Shares in Diamondback Energy, Inc. (NASDAQ:FANG) Bought by SVB Wealth LLC

SVB Wealth LLC bought a new stake in Diamondback Energy, Inc. (NASDAQ:FANG) in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 1,967 shares of the oil and natural gas company’s stock, valued at approximately $322,000.

Other hedge funds have also recently made changes to their positions in the company. QRG Capital Management Inc. lifted its holdings in Diamondback Energy by 38.4% during the 4th quarter. QRG Capital Management Inc. now owns 11,675 shares of the oil and natural gas company’s stock worth $1,913,000 after buying an additional 3,238 shares during the period. Swedbank AB lifted its stake in shares of Diamondback Energy by 28.0% in the fourth quarter. Swedbank AB now owns 198,283 shares of the oil and natural gas company’s stock worth $32,485,000 after acquiring an additional 43,361 shares during the period. Tokio Marine Asset Management Co. Ltd. lifted its stake in shares of Diamondback Energy by 631.1% in the fourth quarter. Tokio Marine Asset Management Co. Ltd. now owns 43,148 shares of the oil and natural gas company’s stock worth $7,069,000 after acquiring an additional 37,246 shares during the period. Franklin Resources Inc. boosted its holdings in Diamondback Energy by 48.5% in the third quarter. Franklin Resources Inc. now owns 146,870 shares of the oil and natural gas company’s stock valued at $28,008,000 after acquiring an additional 47,951 shares during the last quarter. Finally, Tectonic Advisors LLC increased its position in Diamondback Energy by 38.2% during the 4th quarter. Tectonic Advisors LLC now owns 31,467 shares of the oil and natural gas company’s stock valued at $5,155,000 after purchasing an additional 8,704 shares during the period. 90.01% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other news, Director Frank D. Tsuru acquired 2,000 shares of Diamondback Energy stock in a transaction on Friday, February 28th. The stock was acquired at an average cost of $156.51 per share, with a total value of $313,020.00. Following the transaction, the director now owns 5,730 shares of the company’s stock, valued at approximately $896,802.30. This trade represents a 53.62 % increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.48% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on FANG shares. 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. Wells Fargo & Company upped their price target 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 raised Diamondback Energy from a “sell” rating to a “hold” rating in a research note on Wednesday, November 13th. Royal Bank of Canada restated an “outperform” rating and set a $210.00 target price on shares of Diamondback Energy in a research report on Thursday, January 23rd. Finally, JPMorgan Chase & Co. lifted their target price on Diamondback Energy from $191.00 to $195.00 and gave the stock an “overweight” rating in a report on Friday, January 17th. Four 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 company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $216.09.

Diamondback Energy Price Performance

FANG stock opened at $142.70 on Thursday. The company has a debt-to-equity ratio of 0.31, a quick ratio of 0.42 and a current ratio of 0.45. The business has a 50-day simple moving average of $164.70 and a two-hundred day simple moving average of $174.12. The company has a market capitalization of $41.30 billion, a P/E ratio of 8.17, a price-to-earnings-growth ratio of 1.24 and a beta of 1.86. Diamondback Energy, Inc. has a 52-week low of $139.57 and a 52-week high of $214.50.

Diamondback Energy (NASDAQ:FANG) last announced its earnings results on Tuesday, February 25th. The oil and natural gas company reported $3.64 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.57 by $0.07. The company had revenue of $3.71 billion for the quarter, compared to analysts’ expectations of $3.55 billion. Diamondback Energy had a return on equity of 13.68% and a net margin of 33.64%. Research analysts expect that Diamondback Energy, Inc. will post 15.49 EPS for the current fiscal year.

Diamondback Energy Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, March 13th. Stockholders of record on Thursday, March 6th will be paid a $1.00 dividend. This is a positive change from Diamondback Energy’s previous quarterly dividend of $0.90. The ex-dividend date is Thursday, March 6th. This represents a $4.00 annualized dividend and a dividend yield of 2.80%. Diamondback Energy’s dividend payout ratio is presently 25.32%.

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.