Johnson Financial Group Inc. Has $546,000 Stock Position in Diamondback Energy, Inc. (NASDAQ:FANG)

Johnson Financial Group Inc. trimmed its position in Diamondback Energy, Inc. (NASDAQ:FANG - Free Report) by 54.6% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 3,322 shares of the oil and natural gas company's stock after selling 3,998 shares during the quarter. Johnson Financial Group Inc.'s holdings in Diamondback Energy were worth $546,000 at the end of the most recent quarter.

Several other institutional investors have also made changes to their positions in FANG. Lakewood Asset Management LLC boosted its stake in 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 period. Magnolia Capital Advisors LLC boosted its position in shares of Diamondback Energy by 2.0% in the fourth quarter. Magnolia Capital Advisors LLC now owns 3,247 shares of the oil and natural gas company's stock worth $532,000 after buying an additional 64 shares during the period. Barden Capital Management Inc. grew its holdings in shares of Diamondback Energy by 1.5% during the fourth quarter. Barden Capital Management Inc. now owns 4,380 shares of the oil and natural gas company's stock valued at $718,000 after buying an additional 64 shares in the last quarter. Greenleaf Trust raised its position in Diamondback Energy by 1.0% during the fourth quarter. Greenleaf Trust now owns 6,892 shares of the oil and natural gas company's stock valued at $1,129,000 after buying an additional 66 shares during the period. Finally, Buckhead Capital Management LLC lifted its stake 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 acquiring an additional 67 shares in the last quarter. 90.01% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, Director Frank D. Tsuru bought 2,000 shares of the business's 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 completion of the purchase, the director now 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 purchase was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Corporate insiders own 0.70% of the company's stock.

Analyst Ratings Changes

A number of brokerages have recently weighed in on FANG. JPMorgan Chase & Co. dropped their target price on Diamondback Energy from $167.00 to $166.00 and set an "overweight" rating on the stock in a report on Thursday, April 10th. Truist Financial upped their price objective on shares of Diamondback Energy from $238.00 to $242.00 and gave the company a "buy" rating in a research note on Thursday, April 17th. Bank of America raised shares of Diamondback Energy from a "neutral" rating to a "buy" rating and decreased their target price for the company from $202.00 to $170.00 in a research note on Tuesday. Citigroup raised shares of Diamondback Energy from a "reduce" rating to a "buy" rating and upped their price target for the stock from $157.00 to $180.00 in a research note on Monday, April 7th. Finally, Susquehanna lowered their target price on Diamondback Energy from $219.00 to $194.00 and set a "positive" rating on the stock in a research note on Tuesday, April 22nd. Two investment analysts have rated the stock with a hold rating, nineteen have given a buy rating and two have assigned a strong buy rating to the company's stock. According to MarketBeat.com, the company presently has an average rating of "Buy" and a consensus price target of $197.70.

Diamondback Energy Stock Performance

Shares of Diamondback Energy stock traded up $1.56 during midday trading on Friday, hitting $136.39. The company had a trading volume of 1,309,179 shares, compared to its average volume of 2,093,322. Diamondback Energy, Inc. has a 1-year low of $114.00 and a 1-year high of $214.50. The business's 50 day simple moving average is $143.19 and its two-hundred day simple moving average is $161.40. The stock has a market cap of $40.11 billion, a PE ratio of 7.79, a P/E/G ratio of 1.24 and a beta of 1.44. The company has a debt-to-equity ratio of 0.31, a current ratio of 0.45 and a quick ratio of 0.42.

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

Diamondback Energy Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, March 13th. Shareholders of record on Thursday, March 6th were issued a $1.00 dividend. This is a boost from Diamondback Energy's previous quarterly dividend of $0.90. The ex-dividend date was Thursday, March 6th. This represents a $4.00 annualized dividend and a yield of 2.93%. Diamondback Energy's dividend payout ratio is 25.32%.

About Diamondback Energy

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.