Amalgamated Bank Buys 548 Shares of Diamondback Energy, Inc. (NASDAQ:FANG)

Amalgamated Bank increased its stake in shares of Diamondback Energy, Inc. (NASDAQ:FANG) by 1.6% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 35,732 shares of the oil and natural gas company’s stock after acquiring an additional 548 shares during the quarter. Amalgamated Bank’s holdings in Diamondback Energy were worth $5,854,000 at the end of the most recent quarter.

A number of other large investors have also bought and sold shares of FANG. Nisa Investment Advisors LLC grew its stake in shares of Diamondback Energy by 6.0% in the 3rd quarter. Nisa Investment Advisors LLC now owns 54,813 shares of the oil and natural gas company’s stock valued at $9,450,000 after buying an additional 3,127 shares during the period. China Universal Asset Management Co. Ltd. grew its stake in Diamondback Energy by 111.1% in the third quarter. China Universal Asset Management Co. Ltd. now owns 2,263 shares of the oil and natural gas company’s stock valued at $390,000 after acquiring an additional 1,191 shares during the period. First Trust Direct Indexing L.P. increased its holdings in shares of Diamondback Energy by 2.5% during the third quarter. First Trust Direct Indexing L.P. now owns 5,720 shares of the oil and natural gas company’s stock valued at $986,000 after acquiring an additional 141 shares in the last quarter. Pinnacle Associates Ltd. raised its position in shares of Diamondback Energy by 4.5% during the third quarter. Pinnacle Associates Ltd. now owns 69,378 shares of the oil and natural gas company’s stock worth $11,961,000 after purchasing an additional 3,003 shares during the period. Finally, Oak Harvest Investment Services grew its position in Diamondback Energy by 16.6% in the 3rd quarter. Oak Harvest Investment Services now owns 51,061 shares of the oil and natural gas company’s stock valued at $8,803,000 after purchasing an additional 7,257 shares during the period. 90.01% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research analysts have weighed in on the stock. Wells Fargo & Company upped their price objective on shares of Diamondback Energy from $218.00 to $219.00 and gave the stock an “overweight” rating in a report on Tuesday, December 17th. Truist Financial upped their target price on shares of Diamondback Energy from $236.00 to $238.00 and gave the stock a “buy” rating in a report on Wednesday, February 19th. Piper Sandler cut their price target on Diamondback Energy from $252.00 to $232.00 and set an “overweight” rating for the company in a research note on Tuesday, December 17th. UBS Group increased their price objective on Diamondback Energy from $212.00 to $216.00 and gave the stock a “buy” rating in a research note on Thursday, February 13th. Finally, Wolfe Research raised Diamondback Energy from a “peer perform” rating to an “outperform” rating and set a $190.00 target price on the stock in a research report on Friday, January 3rd. Four investment analysts have rated the stock with a hold rating, eighteen have issued a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $216.09.

Diamondback Energy Stock Up 2.1 %

FANG stock opened at $155.59 on Friday. The stock has a fifty day moving average of $165.34 and a 200-day moving average of $175.63. Diamondback Energy, Inc. has a fifty-two week low of $151.00 and a fifty-two week high of $214.50. The company has a market capitalization of $45.43 billion, a price-to-earnings ratio of 8.91, a PEG ratio of 1.24 and a beta of 1.86. The company has a debt-to-equity ratio of 0.31, a quick ratio of 0.42 and a current ratio of 0.45.

Diamondback Energy (NASDAQ:FANG) last released its quarterly earnings data on Tuesday, February 25th. The oil and natural gas company reported $3.64 EPS for the quarter, beating the consensus estimate of $3.57 by $0.07. The business had revenue of $3.71 billion for the quarter, compared to the consensus estimate 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 research analysts predict that Diamondback Energy, Inc. will post 15.49 earnings per share for the current year.

Diamondback Energy Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, March 13th. Investors of record on Thursday, March 6th will be paid a $1.00 dividend. This represents a $4.00 dividend on an annualized basis and a yield of 2.57%. This is a positive change from Diamondback Energy’s previous quarterly dividend of $0.90. The ex-dividend date of this dividend is Thursday, March 6th. Diamondback Energy’s payout ratio is currently 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.