SBI Securities Co. Ltd. Buys Shares of 1,976 Diamondback Energy, Inc. (NASDAQ:FANG)

SBI Securities Co. Ltd. acquired a new position in Diamondback Energy, Inc. (NASDAQ:FANG) during the fourth quarter, HoldingsChannel.com reports. The fund acquired 1,976 shares of the oil and natural gas company’s stock, valued at approximately $324,000.

Other institutional investors and hedge funds have also recently modified their holdings of the company. R Squared Ltd purchased a new position in shares of Diamondback Energy in the 4th quarter worth approximately $29,000. UMB Bank n.a. grew its position in shares of Diamondback Energy by 247.3% in the 4th quarter. UMB Bank n.a. now owns 191 shares of the oil and natural gas company’s stock worth $31,000 after buying an additional 136 shares during the last quarter. Key Financial Inc grew its position 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. Ashton Thomas Securities LLC purchased a new stake in Diamondback Energy during the 3rd quarter worth approximately $52,000. Finally, Synergy Asset Management LLC purchased a new stake in Diamondback Energy during the 4th quarter worth approximately $67,000. Hedge funds and other institutional investors own 90.01% of the company’s stock.

Insider Buying and Selling

In related news, Director Frank D. Tsuru purchased 2,000 shares of the business’s stock in a transaction that occurred on 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 acquisition, the director now owns 5,730 shares in the company, valued at $896,802.30. The trade was a 53.62 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.48% of the stock is owned by insiders.

Diamondback Energy Stock Performance

FANG opened at $142.70 on Thursday. The company has a debt-to-equity ratio of 0.31, a current ratio of 0.45 and a quick ratio of 0.42. The firm has a fifty day moving average price of $164.70 and a 200 day moving average price of $174.12. Diamondback Energy, Inc. has a 1 year low of $139.57 and a 1 year high of $214.50. The stock has a market cap of $41.30 billion, a P/E ratio of 8.17, a P/E/G ratio of 1.24 and a beta of 1.86.

Diamondback Energy (NASDAQ:FANG) last issued its quarterly earnings results on Tuesday, February 25th. The oil and natural gas company reported $3.64 EPS for the quarter, topping the consensus estimate of $3.57 by $0.07. The company had revenue of $3.71 billion during 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%. Equities research analysts anticipate that Diamondback Energy, Inc. will post 15.49 earnings per share for the current year.

Diamondback Energy Increases Dividend

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

Analysts Set New Price Targets

Several analysts have weighed in on FANG shares. Mizuho boosted their target price on shares of Diamondback Energy from $201.00 to $204.00 and gave the stock an “outperform” rating in a research report on Tuesday, February 25th. StockNews.com raised shares of Diamondback Energy from a “sell” rating to a “hold” rating in a research report on Wednesday, November 13th. Truist Financial boosted their target price on shares of Diamondback Energy from $236.00 to $238.00 and gave the stock a “buy” rating in a research report on Wednesday, February 19th. Wolfe Research raised shares of Diamondback Energy from a “peer perform” rating to an “outperform” rating and set a $190.00 target price on the stock in a research report on Friday, January 3rd. Finally, Morgan Stanley boosted their target price on shares of Diamondback Energy from $220.00 to $227.00 and gave the stock an “overweight” rating in a research report on Wednesday, February 19th. Four analysts have rated the stock with a hold rating, eighteen have issued a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $216.09.

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.