Charles Schwab Investment Management Inc. grew its position in Diamondback Energy, Inc. (NASDAQ:FANG - Free Report) by 2.8% during the first quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 1,121,998 shares of the oil and natural gas company's stock after purchasing an additional 31,018 shares during the quarter. Charles Schwab Investment Management Inc. owned approximately 0.38% of Diamondback Energy worth $179,385,000 as of its most recent filing with the SEC.
A number of other institutional investors also recently modified their holdings of FANG. BankPlus Trust Department bought a new position in Diamondback Energy during the first quarter worth $27,000. Pinnacle Bancorp Inc. boosted its stake in Diamondback Energy by 95.7% during the first quarter. Pinnacle Bancorp Inc. now owns 180 shares of the oil and natural gas company's stock worth $29,000 after acquiring an additional 88 shares in the last quarter. Fourth Dimension Wealth LLC bought a new position in Diamondback Energy during the fourth quarter worth $33,000. WASHINGTON TRUST Co boosted its stake in Diamondback Energy by 119.8% during the first quarter. WASHINGTON TRUST Co now owns 200 shares of the oil and natural gas company's stock worth $32,000 after acquiring an additional 109 shares in the last quarter. Finally, Grove Bank & Trust boosted its stake in Diamondback Energy by 65.0% during the first quarter. Grove Bank & Trust now owns 203 shares of the oil and natural gas company's stock worth $32,000 after acquiring an additional 80 shares in the last quarter. 90.01% of the stock is owned by institutional investors.
Diamondback Energy Stock Performance
Shares of FANG stock opened at $142.03 on Friday. The firm has a 50-day moving average of $143.67 and a 200-day moving average of $145.72. The company has a market cap of $41.12 billion, a P/E ratio of 10.09 and a beta of 1.09. The company has a debt-to-equity ratio of 0.35, a current ratio of 0.55 and a quick ratio of 0.83. Diamondback Energy, Inc. has a one year low of $114.00 and a one year high of $202.87.
Diamondback Energy (NASDAQ:FANG - Get Free Report) last announced its earnings results on Monday, August 4th. The oil and natural gas company reported $2.67 EPS for the quarter, missing the consensus estimate of $2.72 by ($0.05). Diamondback Energy had a net margin of 27.25% and a return on equity of 9.48%. The firm had revenue of $3.68 billion during the quarter, compared to analysts' expectations of $3.35 billion. During the same quarter in the prior year, the company earned $4.52 EPS. The business's revenue for the quarter was up 48.1% on a year-over-year basis. Equities research analysts forecast that Diamondback Energy, Inc. will post 15.49 EPS for the current fiscal year.
Diamondback Energy Dividend Announcement
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, August 21st. Investors of record on Thursday, August 14th will be issued a dividend of $1.00 per share. This represents a $4.00 dividend on an annualized basis and a yield of 2.8%. The ex-dividend date is Thursday, August 14th. Diamondback Energy's dividend payout ratio (DPR) is 28.43%.
Analysts Set New Price Targets
FANG has been the topic of several research analyst reports. Scotiabank reissued an "outperform" rating on shares of Diamondback Energy in a research note on Friday, July 11th. 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 cut 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 note on Monday, April 21st. Susquehanna cut their target price on shares of Diamondback Energy from $192.00 to $188.00 and set a "positive" rating on the stock in a research note on Wednesday, July 23rd. Finally, Wells Fargo & Company increased their target price on shares of Diamondback Energy from $207.00 to $208.00 and gave the stock an "overweight" rating in a research note on Monday, June 16th. One research analyst has rated the stock with a sell rating, one has given a hold rating, eighteen have issued a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat, Diamondback Energy currently has a consensus rating of "Moderate Buy" and an average price target of $191.59.
Read Our Latest Report on FANG
Insider Transactions at Diamondback Energy
In related news, President Hof Matthew Kaes Van't sold 10,000 shares of the firm's stock in a transaction dated Monday, May 12th. The shares were sold at an average price of $142.69, for a total transaction of $1,426,900.00. Following the completion of the sale, the president owned 120,645 shares in the company, valued at approximately $17,214,835.05. This trade represents a 7.65% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Company insiders own 0.70% of the company's stock.
Diamondback Energy Profile
(
Free Report)
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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