Cullen Frost Bankers Inc. Boosts Holdings in Diamondback Energy, Inc. (NASDAQ:FANG)

Cullen Frost Bankers Inc. boosted its holdings in Diamondback Energy, Inc. (NASDAQ:FANG - Free Report) by 16.7% in the first quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 87,548 shares of the oil and natural gas company's stock after buying an additional 12,498 shares during the quarter. Cullen Frost Bankers Inc.'s holdings in Diamondback Energy were worth $13,997,000 at the end of the most recent quarter.

A number of other hedge funds have also bought and sold shares of FANG. Demars Financial Group LLC purchased a new position in Diamondback Energy in the 4th quarter worth about $638,050,000. Alyeska Investment Group L.P. purchased a new position in Diamondback Energy in the 4th quarter worth about $185,193,000. Price T Rowe Associates Inc. MD raised its position in Diamondback Energy by 11.3% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 9,136,645 shares of the oil and natural gas company's stock worth $1,496,859,000 after buying an additional 928,429 shares during the last quarter. GAMMA Investing LLC raised its position in Diamondback Energy by 16,197.8% in the 1st quarter. GAMMA Investing LLC now owns 605,625 shares of the oil and natural gas company's stock worth $96,827,000 after buying an additional 601,909 shares during the last quarter. Finally, Boston Partners raised its position in Diamondback Energy by 12.4% in the 4th quarter. Boston Partners now owns 5,169,742 shares of the oil and natural gas company's stock worth $849,202,000 after buying an additional 571,820 shares during the last quarter. Hedge funds and other institutional investors own 90.01% of the company's stock.

Diamondback Energy Price Performance

Shares of NASDAQ FANG traded down $1.41 during midday trading on Wednesday, reaching $136.47. 2,179,645 shares of the stock traded hands, compared to its average volume of 2,304,327. The company has a debt-to-equity ratio of 0.31, a current ratio of 0.86 and a quick ratio of 0.83. The stock has a market capitalization of $39.87 billion, a PE ratio of 8.35 and a beta of 1.05. Diamondback Energy, Inc. has a one year low of $114.00 and a one year high of $214.50. The company's 50 day moving average is $141.38 and its 200 day moving average is $149.27.

Diamondback Energy (NASDAQ:FANG - Get Free Report) last posted its earnings results on Monday, May 5th. The oil and natural gas company reported $4.54 EPS for the quarter, beating analysts' consensus estimates of $3.67 by $0.87. The firm had revenue of $4.05 billion during the quarter, compared to the consensus estimate of $3.58 billion. Diamondback Energy had a return on equity of 11.22% and a net margin of 30.84%. The company's quarterly revenue was up 81.8% compared to the same quarter last year. During the same period in the prior year, the company earned $4.50 EPS. On average, equities research analysts anticipate that Diamondback Energy, Inc. will post 15.49 earnings per share for the current year.

Diamondback Energy Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, May 22nd. Shareholders of record on Thursday, May 15th were paid a dividend of $1.00 per share. This represents a $4.00 annualized dividend and a yield of 2.93%. The ex-dividend date of this dividend was Thursday, May 15th. Diamondback Energy's payout ratio is 24.46%.

Analysts Set New Price Targets

Several equities research analysts have recently commented on FANG shares. Wells Fargo & Company upped their price target on shares of Diamondback Energy from $207.00 to $208.00 and gave the company an "overweight" rating in a research report on Monday, June 16th. Mizuho reduced their price target on shares of Diamondback Energy from $186.00 to $179.00 and set an "outperform" rating for the company in a research report on Tuesday, May 13th. Truist Financial upped their price target on shares of Diamondback Energy from $238.00 to $242.00 and gave the company a "buy" rating in a research report on Thursday, April 17th. Susquehanna reduced their price target on shares of Diamondback Energy from $219.00 to $194.00 and set a "positive" rating for the company in a research report on Tuesday, April 22nd. Finally, Barclays reduced their price target on shares of Diamondback Energy from $200.00 to $185.00 and set an "overweight" rating for the company in a research report on Wednesday, April 23rd. Two 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 stock. According to data from MarketBeat, the company presently has an average rating of "Buy" and an average price target of $193.35.

Insider Buying and Selling

In other Diamondback Energy news, President Hof Matthew Kaes Van't sold 10,000 shares of Diamondback Energy stock in a transaction on 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 transaction, the president directly owned 120,645 shares of the company's stock, valued at $17,214,835.05. The trade was a 7.65% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.48% of the stock is owned by insiders.

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.