Diamondback Energy, Inc. (NASDAQ:FANG) Holdings Raised by Park National Corp OH

Park National Corp OH increased its position in shares of Diamondback Energy, Inc. (NASDAQ:FANG) by 11.3% during the 4th quarter, HoldingsChannel.com reports. The firm owned 45,281 shares of the oil and natural gas company’s stock after purchasing an additional 4,580 shares during the period. Park National Corp OH’s holdings in Diamondback Energy were worth $7,418,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also recently added to or reduced their stakes in FANG. Diversified Trust Co lifted its position in shares of Diamondback Energy by 1.6% in the 4th quarter. Diversified Trust Co now owns 32,348 shares of the oil and natural gas company’s stock worth $5,300,000 after buying an additional 513 shares during the last quarter. Nordea Investment Management AB lifted its holdings in Diamondback Energy by 12.5% in the fourth quarter. Nordea Investment Management AB now owns 20,222 shares of the oil and natural gas company’s stock worth $3,298,000 after acquiring an additional 2,247 shares during the last quarter. Everence Capital Management Inc. acquired a new position in Diamondback Energy in the fourth quarter valued at approximately $1,053,000. GAMMA Investing LLC grew its holdings in shares of Diamondback Energy by 6.7% during the fourth quarter. GAMMA Investing LLC now owns 3,716 shares of the oil and natural gas company’s stock valued at $609,000 after purchasing an additional 232 shares during the last quarter. Finally, Versant Capital Management Inc raised its position in shares of Diamondback Energy by 158.5% during the 4th quarter. Versant Capital Management Inc now owns 1,241 shares of the oil and natural gas company’s stock worth $203,000 after purchasing an additional 761 shares during the period. Institutional investors own 90.01% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts recently commented on FANG shares. Jefferies Financial Group started coverage on Diamondback Energy in a research note on Monday, September 16th. They set a “hold” rating and a $185.00 price objective for the company. Truist Financial increased their price target on Diamondback Energy from $220.00 to $230.00 and gave the stock a “buy” rating in a research note on Wednesday, October 16th. Johnson Rice downgraded Diamondback Energy from a “strong-buy” rating to a “moderate buy” rating in a research report on Tuesday, September 24th. Benchmark restated a “buy” rating and issued a $195.00 price target on shares of Diamondback Energy in a research report on Tuesday, October 29th. Finally, Raymond James boosted their target price on Diamondback Energy from $232.00 to $237.00 and gave the stock a “strong-buy” rating in a research report on Tuesday, November 19th. One analyst has rated the stock with a sell rating, four have issued a hold rating, eighteen have assigned a buy rating and two have issued a strong buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $209.83.

Insider Buying and Selling

In related news, Director Mark Lawrence Plaumann sold 1,150 shares of the firm’s stock in a transaction 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 transaction, the director now directly owns 4,712 shares in the company, valued at approximately $852,872. This trade represents a 19.62 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Corporate insiders own 0.48% of the company’s stock.

Diamondback Energy Stock Performance

FANG stock opened at $172.42 on Wednesday. The firm has a 50 day moving average of $171.01 and a two-hundred day moving average of $184.30. Diamondback Energy, Inc. has a 12 month low of $147.93 and a 12 month high of $214.50. The company has a market capitalization of $50.34 billion, a price-to-earnings ratio of 9.87, a P/E/G ratio of 1.19 and a beta of 1.88. The company has a quick ratio of 0.42, a current ratio of 0.45 and a debt-to-equity ratio of 0.31.

Diamondback Energy (NASDAQ:FANG) last posted its earnings results on Monday, November 4th. The oil and natural gas company reported $3.38 EPS for the quarter, missing the consensus estimate of $4.62 by ($1.24). Diamondback Energy had a return on equity of 13.68% and a net margin of 33.64%. The business had revenue of $2.65 billion for the quarter, compared to analyst estimates of $2.43 billion. During the same period in the previous year, the company earned $5.49 earnings per share. The company’s quarterly revenue was up 13.0% compared to the same quarter last year. As a group, equities analysts anticipate that Diamondback Energy, Inc. will post 16.51 EPS for the current fiscal year.

Diamondback Energy Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, November 21st. Investors of record on Thursday, November 14th were paid a $0.90 dividend. This represents a $3.60 dividend on an annualized basis and a dividend yield of 2.09%. The ex-dividend date was Thursday, November 14th. Diamondback Energy’s payout ratio is 20.61%.

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.