CENTRAL TRUST Co Has $7.30 Million Stock Position in Diamondback Energy, Inc. (NASDAQ:FANG)

CENTRAL TRUST Co lessened its holdings in shares of Diamondback Energy, Inc. (NASDAQ:FANG) by 3.1% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 44,567 shares of the oil and natural gas company’s stock after selling 1,408 shares during the period. CENTRAL TRUST Co’s holdings in Diamondback Energy were worth $7,301,000 as of its most recent filing with the SEC.

Other institutional investors also recently modified their holdings of the company. Assenagon Asset Management S.A. raised its holdings in Diamondback Energy by 1,153.0% during the 4th quarter. Assenagon Asset Management S.A. now owns 1,132,918 shares of the oil and natural gas company’s stock worth $185,606,000 after purchasing an additional 1,042,505 shares during the last quarter. Zimmer Partners LP acquired a new stake in shares of Diamondback Energy during the third quarter worth $87,924,000. Holocene Advisors LP raised its stake in Diamondback Energy by 95.3% during the third quarter. Holocene Advisors LP now owns 938,474 shares of the oil and natural gas company’s stock worth $161,793,000 after buying an additional 457,896 shares during the last quarter. Diamond Hill Capital Management Inc. lifted its holdings in Diamondback Energy by 25.6% in the third quarter. Diamond Hill Capital Management Inc. now owns 2,158,910 shares of the oil and natural gas company’s stock valued at $372,196,000 after buying an additional 439,579 shares during the period. Finally, International Assets Investment Management LLC boosted its position in Diamondback Energy by 17,151.2% during the third quarter. International Assets Investment Management LLC now owns 340,021 shares of the oil and natural gas company’s stock valued at $58,620,000 after acquiring an additional 338,050 shares during the last quarter. Institutional investors own 90.01% of the company’s stock.

Diamondback Energy Stock Down 3.6 %

FANG opened at $164.36 on Friday. Diamondback Energy, Inc. has a fifty-two week low of $147.93 and a fifty-two week high of $214.50. 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 company’s 50-day moving average is $168.98 and its 200 day moving average is $180.81. The firm has a market capitalization of $47.99 billion, a P/E ratio of 9.41, a PEG ratio of 1.33 and a beta of 1.88.

Diamondback Energy (NASDAQ:FANG) last announced its earnings results on Monday, November 4th. The oil and natural gas company reported $3.38 earnings per share for the quarter, missing analysts’ consensus estimates of $4.62 by ($1.24). The business had revenue of $2.65 billion during the quarter, compared to analysts’ expectations of $2.43 billion. Diamondback Energy had a return on equity of 13.68% and a net margin of 33.64%. Diamondback Energy’s quarterly revenue was up 13.0% on a year-over-year basis. During the same quarter in the previous year, the firm earned $5.49 EPS. Research analysts expect that Diamondback Energy, Inc. will post 15.55 earnings per share for the current fiscal year.

Diamondback Energy Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, November 21st. Stockholders of record on Thursday, November 14th were given a dividend of $0.90 per share. This represents a $3.60 annualized dividend and a dividend yield of 2.19%. The ex-dividend date of this dividend was Thursday, November 14th. Diamondback Energy’s dividend payout ratio is presently 20.61%.

Insider Transactions at Diamondback Energy

In related news, Director Mark Lawrence Plaumann sold 1,150 shares of Diamondback Energy stock in a transaction that occurred on Wednesday, November 13th. The shares were sold at an average price of $181.00, for a total value of $208,150.00. Following the sale, the director now owns 4,712 shares of the company’s stock, valued at approximately $852,872. The trade was a 19.62 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Company insiders own 0.48% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on FANG shares. Scotiabank dropped their price objective on Diamondback Energy from $245.00 to $225.00 and set a “sector outperform” rating on the stock in a research note on Thursday, October 10th. Truist Financial boosted their price target on Diamondback Energy from $230.00 to $236.00 and gave the company a “buy” rating in a research note on Monday, January 13th. Raymond James raised their price objective on shares of Diamondback Energy from $237.00 to $256.00 and gave the stock a “strong-buy” rating in a research report on Thursday, January 23rd. JPMorgan Chase & Co. boosted their target price on shares of Diamondback Energy from $191.00 to $195.00 and gave the company an “overweight” rating in a research report on Friday, January 17th. Finally, Piper Sandler decreased their price target on shares of Diamondback Energy from $252.00 to $232.00 and set an “overweight” rating for the company in a research note on Tuesday, December 17th. Four equities research analysts have rated the stock with a hold rating, eighteen have given a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $215.00.

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.