Diamondback Energy, Inc. (NASDAQ:FANG) Shares Bought by Daiwa Securities Group Inc.

Daiwa Securities Group Inc. grew its stake in Diamondback Energy, Inc. (NASDAQ:FANG) by 61.4% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 36,780 shares of the oil and natural gas company’s stock after purchasing an additional 13,996 shares during the period. Daiwa Securities Group Inc.’s holdings in Diamondback Energy were worth $5,703,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of the stock. Scissortail Wealth Management LLC purchased a new position in Diamondback Energy during the 4th quarter worth $794,000. Tyche Wealth Partners LLC purchased a new position in Diamondback Energy during the fourth quarter worth about $1,057,000. Avior Wealth Management LLC lifted its position in Diamondback Energy by 128.7% in the fourth quarter. Avior Wealth Management LLC now owns 1,912 shares of the oil and natural gas company’s stock valued at $297,000 after purchasing an additional 1,076 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in Diamondback Energy by 240.5% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 114,531 shares of the oil and natural gas company’s stock valued at $17,761,000 after purchasing an additional 80,898 shares in the last quarter. Finally, Emfo LLC acquired a new position in Diamondback Energy during the 4th quarter worth approximately $155,000. Hedge funds and other institutional investors own 90.01% of the company’s stock.

Insider Transactions at Diamondback Energy

In related news, CEO Travis D. Stice sold 30,000 shares of the company’s stock in a transaction on Tuesday, April 2nd. The stock was sold at an average price of $200.00, for a total value of $6,000,000.00. Following the completion of the transaction, the chief executive officer now directly owns 446,610 shares in the company, valued at $89,322,000. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Diamondback Energy news, COO Daniel N. Wesson sold 6,000 shares of Diamondback Energy stock in a transaction on Tuesday, March 19th. The shares were sold at an average price of $192.17, for a total value of $1,153,020.00. Following the transaction, the chief operating officer now owns 78,218 shares in the company, valued at approximately $15,031,153.06. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO Travis D. Stice sold 30,000 shares of the business’s stock in a transaction on Tuesday, April 2nd. The shares were sold at an average price of $200.00, for a total transaction of $6,000,000.00. Following the sale, the chief executive officer now directly owns 446,610 shares of the company’s stock, valued at $89,322,000. The disclosure for this sale can be found here. Insiders have sold 57,675 shares of company stock worth $11,311,096 over the last quarter. 0.43% of the stock is currently owned by insiders.

Diamondback Energy Trading Up 0.6 %

Diamondback Energy stock opened at $200.74 on Friday. The stock has a market cap of $35.80 billion, a PE ratio of 11.58 and a beta of 1.93. The company has a current ratio of 0.77, a quick ratio of 0.74 and a debt-to-equity ratio of 0.38. The stock has a 50-day moving average price of $189.90 and a 200 day moving average price of $167.56. Diamondback Energy, Inc. has a 52 week low of $123.41 and a 52 week high of $211.96.

Diamondback Energy (NASDAQ:FANG) last posted its quarterly earnings data on Tuesday, February 20th. The oil and natural gas company reported $4.74 earnings per share for the quarter, beating analysts’ consensus estimates of $4.61 by $0.13. The business had revenue of $2.23 billion during the quarter, compared to analyst estimates of $2.16 billion. Diamondback Energy had a net margin of 37.36% and a return on equity of 19.56%. The company’s revenue was up 9.8% on a year-over-year basis. During the same quarter in the previous year, the business posted $5.29 earnings per share. Equities research analysts predict that Diamondback Energy, Inc. will post 18.53 earnings per share for the current fiscal year.

Diamondback Energy Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, March 12th. Shareholders of record on Tuesday, March 5th were paid a dividend of $3.08 per share. This represents a $12.32 dividend on an annualized basis and a dividend yield of 6.14%. The ex-dividend date was Monday, March 4th. This is a positive change from Diamondback Energy’s previous quarterly dividend of $0.84. Diamondback Energy’s dividend payout ratio is currently 20.76%.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on the company. UBS Group lifted their price target on Diamondback Energy from $183.00 to $200.00 and gave the company a “buy” rating in a research note on Wednesday, February 14th. Piper Sandler boosted their target price on shares of Diamondback Energy from $227.00 to $247.00 and gave the stock an “overweight” rating in a research report on Friday. Raymond James cut their price target on shares of Diamondback Energy from $190.00 to $185.00 and set a “strong-buy” rating for the company in a report on Wednesday, January 24th. Scotiabank boosted their price objective on shares of Diamondback Energy from $210.00 to $255.00 and gave the stock a “sector outperform” rating in a report on Thursday, April 11th. Finally, Morgan Stanley dropped their target price on shares of Diamondback Energy from $186.00 to $184.00 and set an “overweight” rating for the company in a report on Monday, April 15th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating, fourteen have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $196.95.

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.