Comerica Bank Reduces Position in Diamondback Energy, Inc. (NASDAQ:FANG)

Comerica Bank trimmed its position in shares of Diamondback Energy, Inc. (NASDAQ:FANG - Free Report) by 7.7% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 59,478 shares of the oil and natural gas company's stock after selling 4,939 shares during the quarter. Comerica Bank's holdings in Diamondback Energy were worth $9,744,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also recently bought and sold shares of FANG. Utah Retirement Systems increased its holdings in shares of Diamondback Energy by 4.7% during the 4th quarter. Utah Retirement Systems now owns 31,344 shares of the oil and natural gas company's stock worth $5,135,000 after acquiring an additional 1,400 shares during the last quarter. Schonfeld Strategic Advisors LLC increased its holdings in Diamondback Energy by 573.0% in the 4th quarter. Schonfeld Strategic Advisors LLC now owns 13,459 shares of the oil and natural gas company's stock worth $2,205,000 after acquiring an additional 11,459 shares during the last quarter. Paloma Partners Management Co grew its position in Diamondback Energy by 30.5% during the fourth quarter. Paloma Partners Management Co now owns 145,000 shares of the oil and natural gas company's stock worth $23,755,000 after buying an additional 33,848 shares in the last quarter. AQR Capital Management LLC grew its holdings in shares of Diamondback Energy by 4.2% during the 4th quarter. AQR Capital Management LLC now owns 44,751 shares of the oil and natural gas company's stock valued at $7,332,000 after purchasing an additional 1,802 shares during the last quarter. Finally, Northern Trust Corp increased its stake in shares of Diamondback Energy by 11.7% during the fourth quarter. Northern Trust Corp now owns 2,092,919 shares of the oil and natural gas company's stock valued at $342,883,000 after buying an additional 219,173 shares during the period. Institutional investors and hedge funds own 90.01% of the company's stock.

Insider Buying and Selling at Diamondback Energy

In other news, Director Frank D. Tsuru purchased 2,000 shares of the business's stock in a transaction on Friday, February 28th. The shares were acquired at an average cost of $156.51 per share, with a total value of $313,020.00. Following the completion of the acquisition, the director now owns 5,730 shares of the company's stock, valued at $896,802.30. This trade represents a 53.62 % increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. 0.70% of the stock is currently owned by corporate insiders.

Diamondback Energy Stock Down 1.9 %

Shares of Diamondback Energy stock traded down $2.49 during midday trading on Wednesday, hitting $129.49. The company had a trading volume of 1,827,197 shares, compared to its average volume of 2,111,348. 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 company has a 50 day moving average of $142.03 and a 200 day moving average of $160.24. Diamondback Energy, Inc. has a 52-week low of $114.00 and a 52-week high of $214.50. The stock has a market capitalization of $38.08 billion, a P/E ratio of 7.41, a P/E/G ratio of 1.24 and a beta of 1.06.

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

Diamondback Energy Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, May 22nd. Shareholders of record on Thursday, May 15th will be given a $1.00 dividend. The ex-dividend date of this dividend is Thursday, May 15th. This represents a $4.00 annualized dividend and a yield of 3.09%. Diamondback Energy's dividend payout ratio (DPR) is 25.32%.

Analyst Ratings Changes

A number of equities research analysts have commented on FANG shares. KeyCorp decreased their price target on Diamondback Energy from $216.00 to $180.00 and set an "overweight" rating on the stock in a report on Monday, April 21st. Morgan Stanley restated an "overweight" rating on shares of Diamondback Energy in a report on Tuesday, April 15th. Susquehanna cut their price target on shares of Diamondback Energy from $219.00 to $194.00 and set a "positive" rating on the stock in a report on Tuesday, April 22nd. Williams Trading set a $190.00 price objective on Diamondback Energy in a report on Wednesday, March 5th. Finally, Piper Sandler decreased their price objective on shares of Diamondback Energy from $240.00 to $234.00 and set an "overweight" rating for the company in a research report on Tuesday, April 22nd. Two equities research analysts have rated the stock with a hold rating, nineteen have given a buy rating and two have given a strong buy rating to the company's stock. According to data from MarketBeat, the stock presently has an average rating of "Buy" and an average target price of $195.57.

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.