Rossby Financial LCC Takes Position in Diamondback Energy, Inc. (NASDAQ:FANG)

Rossby Financial LCC purchased a new position in shares of Diamondback Energy, Inc. (NASDAQ:FANG) during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm purchased 1,808 shares of the oil and natural gas company’s stock, valued at approximately $296,000.

Several other hedge funds and other institutional investors have also bought and sold shares of FANG. Wintrust Investments LLC bought a new stake in shares of Diamondback Energy during the 4th quarter worth $28,000. R Squared Ltd purchased a new stake in Diamondback Energy during the fourth quarter worth about $29,000. UMB Bank n.a. raised its position in Diamondback Energy by 247.3% in the fourth quarter. UMB Bank n.a. now owns 191 shares of the oil and natural gas company’s stock worth $31,000 after acquiring an additional 136 shares during the period. Key Financial Inc boosted its stake in Diamondback Energy by 940.0% in the fourth quarter. Key Financial Inc now owns 208 shares of the oil and natural gas company’s stock valued at $34,000 after acquiring an additional 188 shares during the last quarter. Finally, Rakuten Securities Inc. grew its position in shares of Diamondback Energy by 62.4% during the 4th quarter. Rakuten Securities Inc. now owns 276 shares of the oil and natural gas company’s stock valued at $45,000 after acquiring an additional 106 shares during the period. Hedge funds and other institutional investors own 90.01% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on FANG shares. Barclays lowered their price target on shares of Diamondback Energy from $210.00 to $200.00 and set an “overweight” rating on the stock in a report on Tuesday, March 18th. JPMorgan Chase & Co. lowered their target price on Diamondback Energy from $167.00 to $166.00 and set an “overweight” rating on the stock in a research note on Thursday, April 10th. Wells Fargo & Company cut their price target on Diamondback Energy from $219.00 to $215.00 and set an “overweight” rating for the company in a research note on Wednesday, March 12th. Truist Financial boosted their price objective on Diamondback Energy from $236.00 to $238.00 and gave the company a “buy” rating in a research note on Wednesday, February 19th. Finally, UBS Group upped their price objective on shares of Diamondback Energy from $212.00 to $216.00 and gave the company a “buy” rating in a report on Thursday, February 13th. Three analysts have rated the stock with a hold rating, nineteen 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 an average rating of “Moderate Buy” and a consensus price target of $208.17.

Diamondback Energy Price Performance

Shares of NASDAQ:FANG opened at $127.64 on Tuesday. Diamondback Energy, Inc. has a one year low of $114.00 and a one year high of $214.50. The company’s fifty day moving average price is $149.32 and its 200-day moving average price is $165.96. The firm has a market capitalization of $37.54 billion, a price-to-earnings ratio of 7.31, a PEG ratio of 1.24 and a beta of 1.44. 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 quarterly earnings results on Tuesday, February 25th. The oil and natural gas company reported $3.64 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.57 by $0.07. The firm had revenue of $3.71 billion during the quarter, compared to analyst estimates of $3.55 billion. Diamondback Energy had a return on equity of 13.68% and a net margin of 33.64%. On average, equities research analysts anticipate that Diamondback Energy, Inc. will post 15.49 earnings per share for the current fiscal year.

Diamondback Energy Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, March 13th. Shareholders of record on Thursday, March 6th were given a dividend of $1.00 per share. This is a boost from Diamondback Energy’s previous quarterly dividend of $0.90. This represents a $4.00 dividend on an annualized basis and a yield of 3.13%. The ex-dividend date was Thursday, March 6th. Diamondback Energy’s dividend payout ratio (DPR) is presently 25.32%.

Insiders Place Their Bets

In other Diamondback Energy news, Director Frank D. Tsuru bought 2,000 shares of the firm’s stock in a transaction that occurred on Friday, February 28th. The shares were bought at an average price of $156.51 per share, for a total transaction of $313,020.00. Following the transaction, the director now directly owns 5,730 shares in the company, valued at $896,802.30. This trade represents a 53.62 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 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.