Tower Research Capital LLC TRC Purchases 3,218 Shares of Diamondback Energy, Inc. (NASDAQ:FANG)

Tower Research Capital LLC TRC raised its holdings in Diamondback Energy, Inc. (NASDAQ:FANG - Free Report) by 22.3% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 17,631 shares of the oil and natural gas company's stock after buying an additional 3,218 shares during the quarter. Tower Research Capital LLC TRC's holdings in Diamondback Energy were worth $2,888,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Lakewood Asset Management LLC grew its holdings in shares of Diamondback Energy by 0.5% in the 4th 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 grew its stake in shares of 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 valued at $532,000 after purchasing an additional 64 shares during the last quarter. Barden Capital Management Inc. raised its position in Diamondback Energy by 1.5% in the 4th quarter. Barden Capital Management Inc. now owns 4,380 shares of the oil and natural gas company's stock worth $718,000 after purchasing an additional 64 shares during the last quarter. Greenleaf Trust raised its position in 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 worth $1,129,000 after purchasing an additional 66 shares during the last quarter. Finally, Buckhead Capital Management LLC raised its position in Diamondback Energy by 0.3% in the 4th quarter. Buckhead Capital Management LLC now owns 19,830 shares of the oil and natural gas company's stock worth $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 Up 0.4 %

Shares of Diamondback Energy stock traded up $0.60 during trading hours on Friday, reaching $136.76. 1,608,355 shares of the company's stock were exchanged, compared to its average volume of 2,101,124. The company has a 50 day moving average of $145.04 and a two-hundred day moving average of $162.57. Diamondback Energy, Inc. has a fifty-two week low of $114.00 and a fifty-two week 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 cap of $40.22 billion, a P/E ratio of 7.83, a P/E/G ratio of 1.24 and a beta of 1.44.

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

Diamondback Energy Increases Dividend

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

Wall Street Analyst Weigh In

Several research firms recently weighed in on FANG. Wells Fargo & Company dropped their price objective on shares of Diamondback Energy from $215.00 to $207.00 and set an "overweight" rating for the company in a research report on Monday, April 21st. Piper Sandler dropped 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. KeyCorp dropped their price objective on shares of Diamondback Energy from $216.00 to $180.00 and set an "overweight" rating for the company in a research report on Monday, April 21st. Raymond James dropped their price objective on shares of Diamondback Energy from $245.00 to $214.00 and set a "strong-buy" rating for the company in a research report on Wednesday, March 12th. Finally, JPMorgan Chase & Co. dropped their target price on shares of Diamondback Energy from $167.00 to $166.00 and set an "overweight" rating for the company in a research report on Thursday, April 10th. Three equities research analysts have rated the stock with a hold rating, eighteen have given a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $200.96.

Insider Activity

In other news, Director Frank D. Tsuru bought 2,000 shares of the company's stock in a transaction dated Friday, February 28th. The shares were bought at an average cost of $156.51 per share, with a total value of $313,020.00. Following the acquisition, the director now owns 5,730 shares in the company, valued at $896,802.30. This trade represents a 53.62 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 0.48% of the stock is owned by insiders.

Diamondback Energy Company 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.