Mercer Global Advisors Inc. ADV Decreases Position in Diamondback Energy, Inc. (NASDAQ:FANG)

Mercer Global Advisors Inc. ADV reduced its stake in shares of Diamondback Energy, Inc. (NASDAQ:FANG - Free Report) by 32.7% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 10,650 shares of the oil and natural gas company's stock after selling 5,172 shares during the period. Mercer Global Advisors Inc. ADV's holdings in Diamondback Energy were worth $1,745,000 at the end of the most recent quarter.

A number of other institutional investors have also made changes to their positions in FANG. Wilmington Savings Fund Society FSB acquired a new position in shares of Diamondback Energy in the 3rd quarter valued at $138,000. Franklin Resources Inc. lifted its position in Diamondback Energy by 48.5% during the third quarter. Franklin Resources Inc. now owns 146,870 shares of the oil and natural gas company's stock worth $28,008,000 after acquiring an additional 47,951 shares during the last quarter. Nordea Investment Management AB raised its position in shares of 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 valued at $3,298,000 after buying an additional 2,247 shares in the last quarter. Park National Corp OH raised its position in Diamondback Energy by 11.3% during the fourth quarter. Park National Corp OH now owns 45,281 shares of the oil and natural gas company's stock valued at $7,418,000 after purchasing an additional 4,580 shares in the last quarter. Finally, Fulton Bank N.A. grew its stake in shares of Diamondback Energy by 8.1% during the fourth quarter. Fulton Bank N.A. now owns 3,716 shares of the oil and natural gas company's stock worth $609,000 after buying an additional 279 shares during the last quarter. 90.01% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

FANG has been the topic of a number of research analyst reports. Raymond James cut their price target on shares of Diamondback Energy from $245.00 to $214.00 and set a "strong-buy" rating on the stock in a research report on Wednesday, March 12th. Williams Trading set a $190.00 target price on shares of Diamondback Energy in a research report on Wednesday, March 5th. Truist Financial increased 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. KeyCorp decreased their target price on shares of Diamondback Energy from $216.00 to $180.00 and set an "overweight" rating on the stock in a research report on Monday, April 21st. Finally, JPMorgan Chase & Co. reduced their price target on shares of Diamondback Energy from $167.00 to $161.00 and set an "overweight" rating on the stock in a research report on Wednesday, May 7th. 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 company. Based on data from MarketBeat.com, Diamondback Energy has an average rating of "Buy" and a consensus price target of $195.57.

Insider Buying and Selling at Diamondback Energy

In other news, Director Frank D. Tsuru purchased 2,000 shares of Diamondback Energy stock in a transaction that occurred on Friday, February 28th. The stock was acquired at an average cost of $156.51 per share, for a total transaction of $313,020.00. Following the purchase, the director now directly owns 5,730 shares of the company's stock, valued at $896,802.30. This trade represents a 53.62% increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 0.70% of the company's stock.

Diamondback Energy Price Performance

Diamondback Energy stock traded up $4.72 during mid-day trading on Monday, hitting $142.61. 1,242,539 shares of the company were exchanged, compared to its average volume of 2,121,619. The company has a quick ratio of 0.42, a current ratio of 0.45 and a debt-to-equity ratio of 0.31. The business has a fifty day moving average of $141.07 and a 200 day moving average of $159.09. Diamondback Energy, Inc. has a 1-year low of $114.00 and a 1-year high of $214.50. The company has a market capitalization of $41.66 billion, a PE ratio of 8.17, a price-to-earnings-growth ratio of 1.24 and a beta of 1.06.

Diamondback Energy (NASDAQ:FANG - Get Free Report) last announced its earnings results on Monday, May 5th. The oil and natural gas company reported $4.54 EPS for the quarter, topping 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 company had revenue of $4.05 billion for the quarter, compared to analysts' expectations of $3.58 billion. During the same quarter in the prior year, the business earned $4.50 earnings per share. The business's revenue for the quarter was up 81.8% on a year-over-year basis. As a group, sell-side analysts expect 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. Shareholders 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 yield of 2.80%. Diamondback Energy's dividend payout ratio is 24.46%.

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.