Diamondback Energy, Inc. (NASDAQ:FANG) Stake Boosted by Evergreen Capital Management LLC

Evergreen Capital Management LLC grew its holdings in shares of Diamondback Energy, Inc. (NASDAQ:FANG) by 4.1% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 60,452 shares of the oil and natural gas company’s stock after purchasing an additional 2,392 shares during the period. Evergreen Capital Management LLC’s holdings in Diamondback Energy were worth $9,904,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of FANG. Wintrust Investments LLC bought a new position in Diamondback Energy in the fourth quarter worth about $28,000. R Squared Ltd bought a new stake in shares of Diamondback Energy in the 4th quarter worth approximately $29,000. UMB Bank n.a. boosted its position in Diamondback Energy by 247.3% during the 4th quarter. UMB Bank n.a. now owns 191 shares of the oil and natural gas company’s stock valued at $31,000 after purchasing an additional 136 shares during the period. Key Financial Inc increased its position 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 worth $34,000 after buying an additional 188 shares during the period. Finally, Rakuten Securities Inc. lifted its stake in Diamondback Energy by 62.4% in 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 last quarter. 90.01% of the stock is currently owned by institutional investors.

Insider Transactions at Diamondback Energy

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

Analyst Ratings Changes

A number of analysts recently weighed in on FANG shares. Wolfe Research raised shares of Diamondback Energy from a “peer perform” rating to an “outperform” rating and set a $190.00 price objective on the stock in a report on Friday, January 3rd. Citigroup upgraded shares of Diamondback Energy from a “reduce” rating to a “buy” rating and raised their price target for the company from $157.00 to $180.00 in a research note on Monday, April 7th. Truist Financial boosted their price objective on Diamondback Energy from $236.00 to $238.00 and gave the stock a “buy” rating in a research report on Wednesday, February 19th. Piper Sandler lowered their target price on Diamondback Energy from $252.00 to $232.00 and set an “overweight” rating on the stock in a research report on Tuesday, December 17th. Finally, Williams Trading set a $190.00 price target on Diamondback Energy in a report on Wednesday, March 5th. Three investment analysts have rated the stock with a hold rating, nineteen have issued a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $208.17.

Diamondback Energy Trading Down 0.4 %

Shares of NASDAQ:FANG opened at $127.14 on Wednesday. Diamondback Energy, Inc. has a 12-month low of $114.00 and a 12-month high of $214.50. The company has a quick ratio of 0.42, a current ratio of 0.45 and a debt-to-equity ratio of 0.31. The firm has a market capitalization of $37.39 billion, a P/E ratio of 7.28, a price-to-earnings-growth ratio of 1.24 and a beta of 1.44. The firm has a fifty day moving average of $148.66 and a two-hundred day moving average of $165.69.

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

Diamondback Energy Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, March 13th. Shareholders of record on Thursday, March 6th were paid a $1.00 dividend. The ex-dividend date was Thursday, March 6th. 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 3.15%. Diamondback Energy’s payout ratio is 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.