First National Trust Co Buys Shares of 13,215 Diamondback Energy, Inc. (NASDAQ:FANG)

First National Trust Co bought a new stake in shares of Diamondback Energy, Inc. (NASDAQ:FANG) in the 4th quarter, Holdings Channel reports. The firm bought 13,215 shares of the oil and natural gas company’s stock, valued at approximately $2,165,000.

Several other large investors have also modified their holdings of FANG. Wintrust Investments LLC purchased a new position in shares of Diamondback Energy during the fourth quarter valued at approximately $28,000. R Squared Ltd purchased a new position in shares of Diamondback Energy during the fourth quarter valued at approximately $29,000. UMB Bank n.a. boosted its position 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 valued at $31,000 after buying an additional 136 shares during the period. Key Financial Inc boosted its position in shares of Diamondback Energy by 940.0% during the fourth quarter. Key Financial Inc now owns 208 shares of the oil and natural gas company’s stock valued at $34,000 after buying an additional 188 shares during the period. Finally, Rakuten Securities Inc. boosted its position in shares of Diamondback Energy by 62.4% during the fourth quarter. Rakuten Securities Inc. now owns 276 shares of the oil and natural gas company’s stock valued at $45,000 after buying an additional 106 shares during the period. Hedge funds and other institutional investors own 90.01% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have issued reports on FANG shares. The Goldman Sachs Group assumed coverage on Diamondback Energy in a research report on Monday, December 2nd. They set a “buy” rating and a $227.00 target price for the company. Citigroup lowered Diamondback Energy from a “buy” rating to a “reduce” rating in a report on Wednesday, March 5th. Mizuho boosted their price target on Diamondback Energy from $201.00 to $204.00 and gave the company an “outperform” rating in a report on Tuesday, February 25th. Wells Fargo & Company lowered their price target on Diamondback Energy from $219.00 to $215.00 and set an “overweight” rating for the company in a report on Wednesday. Finally, Raymond James lowered their price target on Diamondback Energy from $245.00 to $214.00 and set a “strong-buy” rating for the company in a report on Wednesday. One analyst has rated the stock with a sell rating, three have issued 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.com, Diamondback Energy has a consensus rating of “Moderate Buy” and an average price target of $211.92.

Diamondback Energy Stock Performance

Shares of FANG stock opened at $150.20 on Friday. The business’s fifty day simple moving average is $162.00 and its 200-day simple moving average is $171.85. The company has a market cap of $43.47 billion, a PE ratio of 8.60, a PEG ratio of 1.24 and a beta of 1.84. The company has a current ratio of 0.45, a quick ratio of 0.42 and a debt-to-equity ratio of 0.31. Diamondback Energy, Inc. has a 12-month low of $137.09 and a 12-month high of $214.50.

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

Diamondback Energy Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, March 13th. Stockholders of record on Thursday, March 6th were issued a dividend of $1.00 per share. The ex-dividend date was Thursday, March 6th. This is a positive change from Diamondback Energy’s previous quarterly dividend of $0.90. This represents a $4.00 dividend on an annualized basis and a dividend yield of 2.66%. Diamondback Energy’s payout ratio is 25.32%.

Insider Activity

In related news, Director Frank D. Tsuru acquired 2,000 shares of the company’s stock in a transaction dated Friday, February 28th. The shares were purchased at an average cost of $156.51 per share, with a total value of $313,020.00. Following the completion of the acquisition, the director now directly owns 5,730 shares of the company’s stock, valued at $896,802.30. This represents a 53.62 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 0.48% of the company’s stock.

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.