Citizens Business Bank Decreases Stake in Diamondback Energy, Inc. (NASDAQ:FANG)

Citizens Business Bank trimmed its holdings in Diamondback Energy, Inc. (NASDAQ:FANG - Free Report) by 4.7% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 42,638 shares of the oil and natural gas company's stock after selling 2,084 shares during the quarter. Diamondback Energy accounts for about 1.3% of Citizens Business Bank's portfolio, making the stock its 23rd biggest holding. Citizens Business Bank's holdings in Diamondback Energy were worth $6,985,000 as of its most recent SEC filing.

Several other hedge funds also recently made changes to their positions in FANG. QRG Capital Management Inc. boosted its holdings in Diamondback Energy by 38.4% in the fourth quarter. QRG Capital Management Inc. now owns 11,675 shares of the oil and natural gas company's stock worth $1,913,000 after purchasing an additional 3,238 shares in the last quarter. Swedbank AB boosted its holdings in Diamondback Energy by 28.0% in the 4th quarter. Swedbank AB now owns 198,283 shares of the oil and natural gas company's stock valued at $32,485,000 after purchasing an additional 43,361 shares during the period. Tokio Marine Asset Management Co. Ltd. grew its position in Diamondback Energy by 631.1% in the 4th quarter. Tokio Marine Asset Management Co. Ltd. now owns 43,148 shares of the oil and natural gas company's stock worth $7,069,000 after purchasing an additional 37,246 shares during the last quarter. Franklin Resources Inc. grew its holdings in shares of Diamondback Energy by 48.5% during the 3rd quarter. Franklin Resources Inc. now owns 146,870 shares of the oil and natural gas company's stock worth $28,008,000 after purchasing an additional 47,951 shares in the last quarter. Finally, Tectonic Advisors LLC lifted its holdings in shares of Diamondback Energy by 38.2% during the 4th quarter. Tectonic Advisors LLC now owns 31,467 shares of the oil and natural gas company's stock worth $5,155,000 after acquiring an additional 8,704 shares during the period. Institutional investors and hedge funds own 90.01% of the company's stock.

Diamondback Energy Stock Performance

Shares of FANG stock traded up $4.31 during midday trading on Tuesday, hitting $147.23. 1,090,339 shares of the company were exchanged, compared to its average volume of 2,590,164. The firm has a market capitalization of $43.02 billion, a P/E ratio of 8.43, a PEG ratio of 1.24 and a beta of 1.06. The company has a debt-to-equity ratio of 0.31, a quick ratio of 0.42 and a current ratio of 0.45. Diamondback Energy, Inc. has a 52 week low of $114.00 and a 52 week high of $214.50. The firm's 50 day moving average price is $141.07 and its two-hundred day moving average price is $158.80.

Diamondback Energy (NASDAQ:FANG - Get Free Report) last issued its quarterly earnings data on Monday, May 5th. The oil and natural gas company reported $4.54 earnings per share for the quarter, topping the consensus estimate of $3.67 by $0.87. Diamondback Energy had a net margin of 33.64% and a return on equity of 13.68%. The business had revenue of $4.05 billion during the quarter, compared to analysts' expectations of $3.58 billion. During the same quarter in the previous year, the company earned $4.50 EPS. The business's revenue was up 81.8% on a year-over-year basis. As a group, equities research analysts anticipate that Diamondback Energy, Inc. will post 15.49 earnings per share for the current year.

Diamondback Energy Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, May 22nd. Stockholders of record on Thursday, May 15th will be paid a $1.00 dividend. The ex-dividend date of this dividend is Thursday, May 15th. This represents a $4.00 dividend on an annualized basis and a dividend yield of 2.72%. Diamondback Energy's payout ratio is currently 24.46%.

Insiders Place Their Bets

In other Diamondback Energy news, Director Frank D. Tsuru purchased 2,000 shares of the business's stock in a transaction dated Friday, February 28th. The shares were bought at an average price of $156.51 per share, for a total transaction of $313,020.00. Following the completion of the acquisition, the director now owns 5,730 shares in the company, valued at approximately $896,802.30. This trade represents a 53.62% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Insiders own 0.70% of the company's stock.

Analyst Upgrades and Downgrades

FANG has been the topic of a number of recent analyst reports. Royal Bank of Canada started coverage on shares of Diamondback Energy in a research report on Friday, May 2nd. They issued an "outperform" rating and a $180.00 price target on the stock. Barclays decreased their target price on Diamondback Energy from $200.00 to $185.00 and set an "overweight" rating on the stock in a report on Wednesday, April 23rd. Morgan Stanley reiterated an "overweight" rating on shares of Diamondback Energy in a research report on Tuesday, April 15th. UBS Group dropped their price objective on shares of Diamondback Energy from $175.00 to $163.00 and set a "buy" rating for the company in a research report on Thursday, April 17th. Finally, Bank of America upgraded Diamondback Energy from a "neutral" rating to a "buy" rating and decreased their price objective for the company from $202.00 to $170.00 in a research report on Tuesday, April 29th. Two research analysts have rated the stock with a hold rating, nineteen have issued a buy rating and two have given a strong buy rating to the company's stock. Based on data from MarketBeat.com, Diamondback Energy presently has a consensus rating of "Buy" and a consensus target price of $194.09.

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.