Motco Buys 193 Shares of Diamondback Energy, Inc. (NASDAQ:FANG)

Motco lifted its stake in shares of Diamondback Energy, Inc. (NASDAQ:FANG) by 0.6% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 31,446 shares of the oil and natural gas company’s stock after purchasing an additional 193 shares during the quarter. Motco’s holdings in Diamondback Energy were worth $5,152,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. R Squared Ltd bought a new position in Diamondback Energy in the 4th quarter valued at about $29,000. UMB Bank n.a. boosted its position in shares of 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 worth $31,000 after acquiring an additional 136 shares in the last quarter. Key Financial Inc increased 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. Ashton Thomas Securities LLC bought a new position in Diamondback Energy in the third quarter valued at approximately $52,000. Finally, Synergy Asset Management LLC acquired a new position in Diamondback Energy during the fourth quarter valued at approximately $67,000. Institutional investors own 90.01% of the company’s stock.

Diamondback Energy Stock Performance

Shares of FANG opened at $155.59 on Friday. The firm’s fifty day simple moving average is $165.34 and its two-hundred day simple moving average is $175.63. Diamondback Energy, Inc. has a 12 month low of $151.00 and a 12 month high of $214.50. The company has a current ratio of 0.45, a quick ratio of 0.42 and a debt-to-equity ratio of 0.31. The stock has a market capitalization of $45.43 billion, a P/E ratio of 8.91, a price-to-earnings-growth ratio of 1.24 and a beta of 1.86.

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 analysts’ consensus estimates of $3.57 by $0.07. The business had revenue of $3.71 billion during the quarter, compared to the consensus estimate of $3.55 billion. Diamondback Energy had a return on equity of 13.68% and a net margin of 33.64%. As a group, analysts predict that Diamondback Energy, Inc. will post 15.49 EPS for the current year.

Diamondback Energy Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, March 13th. Investors of record on Thursday, March 6th will be given a dividend of $1.00 per share. This represents a $4.00 dividend on an annualized basis and a dividend yield of 2.57%. The ex-dividend date is Thursday, March 6th. This is an increase from Diamondback Energy’s previous quarterly dividend of $0.90. Diamondback Energy’s payout ratio is presently 25.32%.

Analysts Set New Price Targets

Several brokerages have recently issued reports on FANG. Wells Fargo & Company lifted their price target on Diamondback Energy from $218.00 to $219.00 and gave the company an “overweight” rating in a research note on Tuesday, December 17th. StockNews.com raised Diamondback Energy from a “sell” rating to a “hold” rating in a research note on Wednesday, November 13th. Morgan Stanley increased their target price on shares of Diamondback Energy from $220.00 to $227.00 and gave the stock an “overweight” rating in a report on Wednesday, February 19th. Mizuho raised their price target on shares of Diamondback Energy from $201.00 to $204.00 and gave the company an “outperform” rating in a research note on Tuesday. Finally, Truist Financial upped their price objective on shares of Diamondback Energy from $236.00 to $238.00 and gave the stock a “buy” rating in a research report on Wednesday, February 19th. Four research analysts have rated the stock with a hold rating, eighteen have assigned a buy rating and two have issued a strong buy rating to the company. According to MarketBeat, Diamondback Energy presently has an average rating of “Moderate Buy” and a consensus price target of $216.09.

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.