NBC Securities Inc. Boosts Stock Holdings in Diamondback Energy, Inc. (NASDAQ:FANG)

NBC Securities Inc. raised its stake in shares of Diamondback Energy, Inc. (NASDAQ:FANG - Free Report) by 153,020.0% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 7,656 shares of the oil and natural gas company's stock after acquiring an additional 7,651 shares during the quarter. NBC Securities Inc.'s holdings in Diamondback Energy were worth $1,224,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also bought and sold shares of the stock. Wintrust Investments LLC purchased a new position in shares of Diamondback Energy in the fourth quarter worth $28,000. R Squared Ltd purchased a new position in Diamondback Energy in the 4th quarter worth $29,000. Fourth Dimension Wealth LLC purchased a new position in Diamondback Energy in the 4th quarter worth $33,000. Key Financial Inc raised its stake in Diamondback Energy by 940.0% in the 4th quarter. Key Financial Inc now owns 208 shares of the oil and natural gas company's stock worth $34,000 after acquiring an additional 188 shares during the last quarter. Finally, Ancora Advisors LLC raised its stake in Diamondback Energy by 182.9% in the 4th quarter. Ancora Advisors LLC now owns 232 shares of the oil and natural gas company's stock worth $38,000 after acquiring an additional 150 shares during the last quarter. Institutional investors own 90.01% of the company's stock.

Diamondback Energy Price Performance

FANG traded down $2.93 on Wednesday, reaching $139.35. 2,443,949 shares of the company's stock were exchanged, compared to its average volume of 2,166,714. The company has a debt-to-equity ratio of 0.31, a current ratio of 0.45 and a quick ratio of 0.42. The stock's fifty day moving average price is $136.79 and its 200-day moving average price is $154.48. Diamondback Energy, Inc. has a twelve month low of $114.00 and a twelve month high of $214.50. The stock has a market cap of $40.71 billion, a PE ratio of 7.98, 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, topping analysts' consensus estimates of $3.67 by $0.87. Diamondback Energy had a return on equity of 13.68% and a net margin of 33.64%. The firm had revenue of $4.05 billion for the quarter, compared to the consensus estimate of $3.58 billion. During the same quarter last year, the business posted $4.50 earnings per share. The firm's revenue was up 81.8% compared to the same quarter last year. Sell-side analysts expect that Diamondback Energy, Inc. will post 15.49 EPS for the current year.

Diamondback Energy Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, May 22nd. Investors of record on Thursday, May 15th were given a dividend of $1.00 per share. The ex-dividend date of this dividend was Thursday, May 15th. This represents a $4.00 dividend on an annualized basis and a yield of 2.87%. Diamondback Energy's payout ratio is 24.46%.

Insider Buying and Selling

In other news, President Hof Matthew Kaes Van't sold 10,000 shares of the company's stock in a transaction on Monday, May 12th. The stock was sold at an average price of $142.69, for a total value of $1,426,900.00. Following the transaction, the president now owns 120,645 shares of the company's stock, valued at $17,214,835.05. This represents a 7.65% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.70% of the stock is currently owned by company insiders.

Analyst Ratings Changes

A number of brokerages recently issued reports on FANG. KeyCorp reduced their target price on Diamondback Energy from $216.00 to $180.00 and set an "overweight" rating for the company in a research note on Monday, April 21st. Citigroup upgraded Diamondback Energy from a "reduce" rating to a "buy" rating and lifted their price target for the company from $157.00 to $180.00 in a research report on Monday, April 7th. Piper Sandler lowered their price objective on Diamondback Energy from $234.00 to $225.00 and set an "overweight" rating on the stock in a research report on Tuesday, May 13th. Susquehanna dropped their price objective on shares of Diamondback Energy from $219.00 to $194.00 and set a "positive" rating on the stock in a research note on Tuesday, April 22nd. Finally, Morgan Stanley decreased their target price on shares of Diamondback Energy from $186.00 to $183.00 and set an "overweight" rating for the company in a research note on Friday, May 23rd. Two research analysts have rated the stock with a hold rating, nineteen have assigned a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of "Buy" and an average target price of $193.09.

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.