Diamondback Energy, Inc. (NASDAQ:FANG) Shares Bought by SevenBridge Financial Group LLC

SevenBridge Financial Group LLC lifted its holdings in shares of Diamondback Energy, Inc. (NASDAQ:FANG) by 10.8% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The firm owned 20,388 shares of the oil and natural gas company’s stock after buying an additional 1,990 shares during the period. SevenBridge Financial Group LLC’s holdings in Diamondback Energy were worth $3,303,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in FANG. Lakewood Asset Management LLC grew its position in shares of Diamondback Energy by 0.5% in the fourth quarter. Lakewood Asset Management LLC now owns 11,340 shares of the oil and natural gas company’s stock valued at $1,858,000 after purchasing an additional 60 shares during the period. Magnolia Capital Advisors LLC boosted its stake in Diamondback Energy by 2.0% in the 4th quarter. Magnolia Capital Advisors LLC now owns 3,247 shares of the oil and natural gas company’s stock worth $532,000 after buying an additional 64 shares during the last quarter. Barden Capital Management Inc. boosted its stake in Diamondback Energy by 1.5% in the 4th quarter. Barden Capital Management Inc. now owns 4,380 shares of the oil and natural gas company’s stock worth $718,000 after buying an additional 64 shares during the last quarter. Greenleaf Trust grew its holdings in Diamondback Energy by 1.0% in the 4th quarter. Greenleaf Trust now owns 6,892 shares of the oil and natural gas company’s stock valued at $1,129,000 after buying an additional 66 shares during the period. Finally, Buckhead Capital Management LLC increased its stake in shares of Diamondback Energy by 0.3% during the 4th quarter. Buckhead Capital Management LLC now owns 19,830 shares of the oil and natural gas company’s stock valued at $3,249,000 after acquiring an additional 67 shares during the last quarter. Hedge funds and other institutional investors own 90.01% of the company’s stock.

Diamondback Energy Stock Performance

Shares of FANG stock opened at $160.87 on Wednesday. The company has a debt-to-equity ratio of 0.31, a quick ratio of 0.42 and a current ratio of 0.45. The stock has a market capitalization of $46.56 billion, a price-to-earnings ratio of 9.21, a PEG ratio of 1.24 and a beta of 1.85. Diamondback Energy, Inc. has a one year low of $137.09 and a one year high of $214.50. The company’s 50-day simple moving average is $157.93 and its 200-day simple moving average is $169.57.

Diamondback Energy (NASDAQ:FANG) last issued its earnings results on Tuesday, February 25th. The oil and natural gas company reported $3.64 EPS for the quarter, topping the consensus estimate of $3.57 by $0.07. The company 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%. Equities 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 announced a quarterly dividend, which was paid on Thursday, March 13th. Shareholders of record on Thursday, March 6th were issued a dividend of $1.00 per share. This represents a $4.00 dividend on an annualized basis and a dividend yield of 2.49%. This is a boost from Diamondback Energy’s previous quarterly dividend of $0.90. The ex-dividend date of this dividend was Thursday, March 6th. Diamondback Energy’s dividend payout ratio is 25.32%.

Wall Street Analysts Forecast Growth

FANG has been the subject of several research analyst reports. Wolfe Research raised shares of Diamondback Energy from a “peer perform” rating to an “outperform” rating and set a $190.00 price target for the company in a research report on Friday, January 3rd. Royal Bank of Canada restated an “outperform” rating and set a $210.00 price objective on shares of Diamondback Energy in a report on Thursday, January 23rd. Williams Trading set a $190.00 target price on Diamondback Energy in a research report on Wednesday, March 5th. Morgan Stanley dropped their price target on Diamondback Energy from $227.00 to $206.00 and set an “overweight” rating for the company in a research note on Thursday, March 27th. Finally, Barclays reduced their price objective on Diamondback Energy from $210.00 to $200.00 and set an “overweight” rating on the stock in a research note on Tuesday, March 18th. Four equities research analysts have rated the stock with a hold rating, eighteen have assigned a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $209.33.

Insider Activity

In other Diamondback Energy news, Director Frank D. Tsuru acquired 2,000 shares of the company’s stock in a transaction that occurred on Friday, February 28th. The shares were purchased at an average price of $156.51 per share, for a total transaction of $313,020.00. Following the completion of the purchase, the director now directly owns 5,730 shares in the company, valued at $896,802.30. The trade was a 53.62 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is accessible through this link. Company insiders own 0.48% of the company’s stock.

About Diamondback Energy

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.