Baird Financial Group Inc. Has $48.83 Million Stock Holdings in Diamondback Energy, Inc. (NASDAQ:FANG)

Baird Financial Group Inc. reduced its stake in shares of Diamondback Energy, Inc. (NASDAQ:FANG - Free Report) by 8.3% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 298,064 shares of the oil and natural gas company's stock after selling 27,043 shares during the quarter. Baird Financial Group Inc. owned 0.10% of Diamondback Energy worth $48,832,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of FANG. Lakewood Asset Management LLC lifted its stake in Diamondback Energy by 0.5% during the fourth quarter. Lakewood Asset Management LLC now owns 11,340 shares of the oil and natural gas company's stock worth $1,858,000 after purchasing an additional 60 shares during the last quarter. Magnolia Capital Advisors LLC raised its stake in Diamondback Energy by 2.0% during the fourth quarter. Magnolia Capital Advisors LLC now owns 3,247 shares of the oil and natural gas company's stock worth $532,000 after acquiring an additional 64 shares in the last quarter. Barden Capital Management Inc. lifted its holdings in shares of Diamondback Energy by 1.5% in the fourth quarter. Barden Capital Management Inc. now owns 4,380 shares of the oil and natural gas company's stock worth $718,000 after acquiring an additional 64 shares during the last quarter. Greenleaf Trust boosted its stake in shares of 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 purchasing an additional 66 shares in the last quarter. Finally, Buckhead Capital Management LLC grew its holdings 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 purchasing an additional 67 shares during the last quarter. Institutional investors own 90.01% of the company's stock.

Diamondback Energy Stock Performance

FANG opened at $136.81 on Monday. The company has a market cap of $40.23 billion, a price-to-earnings ratio of 7.83, a PEG ratio of 1.24 and a beta of 1.44. The company's fifty day moving average price is $142.89 and its two-hundred day moving average price is $160.79. Diamondback Energy, Inc. has a 1-year low of $114.00 and a 1-year 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.

Diamondback Energy (NASDAQ:FANG - Get Free Report) last announced its quarterly earnings results on Tuesday, February 25th. The oil and natural gas company reported $3.64 earnings per share for the quarter, beating the consensus estimate of $3.57 by $0.07. The business had revenue of $3.71 billion for the quarter, compared to analysts' expectations of $3.55 billion. Diamondback Energy had a net margin of 33.64% and a return on equity of 13.68%. On average, analysts expect that Diamondback Energy, Inc. will post 15.49 EPS for the current fiscal year.

Diamondback Energy Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, March 13th. Investors of record on Thursday, March 6th were given a $1.00 dividend. This is a positive change from Diamondback Energy's previous quarterly dividend of $0.90. This represents a $4.00 dividend on an annualized basis and a yield of 2.92%. The ex-dividend date of this dividend was Thursday, March 6th. Diamondback Energy's dividend payout ratio is presently 25.32%.

Analyst Ratings Changes

A number of analysts have weighed in on the stock. Truist Financial boosted their target price on shares of Diamondback Energy from $238.00 to $242.00 and gave the stock a "buy" rating in a research note on Thursday, April 17th. JPMorgan Chase & Co. cut their price target on Diamondback Energy from $167.00 to $166.00 and set an "overweight" rating on the stock in a research note on Thursday, April 10th. Royal Bank of Canada initiated coverage on Diamondback Energy in a research note on Friday. They issued an "outperform" rating and a $180.00 price objective for the company. Piper Sandler cut their target price on shares of Diamondback Energy from $240.00 to $234.00 and set an "overweight" rating on the stock in a research report on Tuesday, April 22nd. Finally, 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, February 25th. Two research 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 stock. According to data from MarketBeat.com, the company currently has an average rating of "Buy" and an average price target of $197.70.

Insider Buying and Selling at Diamondback Energy

In other news, Director Frank D. Tsuru bought 2,000 shares of Diamondback Energy stock in a transaction dated Friday, February 28th. The stock was purchased at an average price of $156.51 per share, for a total transaction of $313,020.00. Following 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 position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 0.70% of the company's stock.

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.

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