Diamondback Energy, Inc. (NASDAQ:FANG) Shares Sold by M&T Bank Corp

M&T Bank Corp trimmed its stake in Diamondback Energy, Inc. (NASDAQ:FANG) by 8.0% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 22,761 shares of the oil and natural gas company’s stock after selling 1,967 shares during the quarter. M&T Bank Corp’s holdings in Diamondback Energy were worth $3,729,000 as of its most recent filing with the SEC.

A number of other institutional investors have also recently bought and sold shares of FANG. R Squared Ltd purchased a new stake in Diamondback Energy in the fourth quarter valued at approximately $29,000. UMB Bank n.a. grew its holdings in Diamondback Energy by 247.3% in the fourth quarter. UMB Bank n.a. now owns 191 shares of the oil and natural gas company’s stock valued at $31,000 after purchasing an additional 136 shares during the period. Key Financial Inc grew its holdings in Diamondback Energy by 940.0% in the fourth quarter. Key Financial Inc now owns 208 shares of the oil and natural gas company’s stock valued at $34,000 after purchasing an additional 188 shares during the period. Smithfield Trust Co grew its holdings in Diamondback Energy by 37.8% in the fourth quarter. Smithfield Trust Co now owns 310 shares of the oil and natural gas company’s stock valued at $50,000 after purchasing an additional 85 shares during the period. Finally, Ashton Thomas Securities LLC purchased a new stake in Diamondback Energy in the third quarter valued at approximately $52,000. 90.01% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on the stock. Raymond James boosted their target price on shares of Diamondback Energy from $237.00 to $256.00 and gave the company a “strong-buy” rating in a report on Thursday, January 23rd. The Goldman Sachs Group assumed coverage on shares of Diamondback Energy in a research note on Monday, December 2nd. They set a “buy” rating and a $227.00 price objective for the company. StockNews.com upgraded shares of Diamondback Energy from a “sell” rating to a “hold” rating in a research note on Wednesday, November 13th. Mizuho boosted their price objective on shares of Diamondback Energy from $201.00 to $204.00 and gave the stock an “outperform” rating in a research note on Tuesday, February 25th. Finally, Wells Fargo & Company boosted their price objective on shares of Diamondback Energy from $218.00 to $219.00 and gave the stock an “overweight” rating in a research note on Tuesday, December 17th. Four research analysts have rated the stock with a hold rating, eighteen have issued a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $216.09.

Insider Activity at Diamondback Energy

In related news, Director Frank D. Tsuru purchased 2,000 shares of the business’s stock in a transaction that occurred on Friday, February 28th. The shares were purchased at an average cost of $156.51 per share, with a total value of $313,020.00. Following the completion of the acquisition, the director now directly owns 5,730 shares of the company’s stock, valued at approximately $896,802.30. The trade was a 53.62 % increase in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.48% of the stock is currently owned by corporate insiders.

Diamondback Energy Trading Up 0.2 %

FANG opened at $140.11 on Friday. The stock has a market capitalization of $40.55 billion, a PE ratio of 8.02, a P/E/G ratio of 1.24 and a beta of 1.85. The firm’s fifty day moving average price is $163.97 and its 200 day moving average price is $173.39. 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, Inc. has a 12-month low of $138.94 and a 12-month high of $214.50.

Diamondback Energy (NASDAQ:FANG) 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, beating the consensus estimate of $3.57 by $0.07. The firm had revenue of $3.71 billion for the quarter, compared to analysts’ expectations of $3.55 billion. Diamondback Energy had a net margin of 33.64% and a return on equity of 13.68%. As a group, research analysts expect that Diamondback Energy, Inc. will post 15.49 EPS for the current fiscal year.

Diamondback Energy Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, March 13th. Investors of record on Thursday, March 6th will be issued a $1.00 dividend. The ex-dividend date is Thursday, March 6th. This is a boost from Diamondback Energy’s previous quarterly dividend of $0.90. This represents a $4.00 annualized dividend and a yield of 2.85%. Diamondback Energy’s dividend payout ratio is currently 25.32%.

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.