Parkside Financial Bank & Trust Grows Stock Holdings in Diamondback Energy, Inc. (NASDAQ:FANG)

Parkside Financial Bank & Trust lifted its position in Diamondback Energy, Inc. (NASDAQ:FANG) by 24.7% in the 4th quarter, HoldingsChannel.com reports. The firm owned 1,525 shares of the oil and natural gas company’s stock after acquiring an additional 302 shares during the quarter. Parkside Financial Bank & Trust’s holdings in Diamondback Energy were worth $250,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also recently made changes to their positions in the company. Swedbank AB lifted its stake in shares of Diamondback Energy by 28.0% in the 4th quarter. Swedbank AB now owns 198,283 shares of the oil and natural gas company’s stock valued at $32,485,000 after purchasing an additional 43,361 shares during the period. Tokio Marine Asset Management Co. Ltd. lifted its stake in shares of Diamondback Energy by 631.1% in the 4th quarter. Tokio Marine Asset Management Co. Ltd. now owns 43,148 shares of the oil and natural gas company’s stock valued at $7,069,000 after purchasing an additional 37,246 shares during the period. Franklin Resources Inc. lifted its stake in shares of Diamondback Energy by 48.5% in the 3rd quarter. Franklin Resources Inc. now owns 146,870 shares of the oil and natural gas company’s stock valued at $28,008,000 after purchasing an additional 47,951 shares during the period. Tectonic Advisors LLC lifted its stake in shares of Diamondback Energy by 38.2% in the 4th quarter. Tectonic Advisors LLC now owns 31,467 shares of the oil and natural gas company’s stock valued at $5,155,000 after purchasing an additional 8,704 shares during the period. Finally, Benjamin Edwards Inc. lifted its stake in shares of Diamondback Energy by 368.1% in the 3rd quarter. Benjamin Edwards Inc. now owns 9,784 shares of the oil and natural gas company’s stock valued at $1,687,000 after purchasing an additional 7,694 shares during the period. 90.01% of the stock is currently owned by institutional investors and hedge funds.

Diamondback Energy Trading Up 2.2 %

Shares of FANG opened at $158.96 on Friday. The company has a current ratio of 0.45, a quick ratio of 0.42 and a debt-to-equity ratio of 0.31. Diamondback Energy, Inc. has a 12-month low of $151.00 and a 12-month high of $214.50. The firm has a 50-day moving average price of $165.42 and a 200 day moving average price of $175.19. The firm has a market capitalization of $46.41 billion, a P/E ratio of 9.10, a P/E/G ratio of 1.24 and a beta of 1.86.

Diamondback Energy (NASDAQ:FANG) last announced its quarterly earnings data on Tuesday, February 25th. The oil and natural gas company reported $3.64 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.57 by $0.07. Diamondback Energy had a net margin of 33.64% and a return on equity of 13.68%. The firm had revenue of $3.71 billion during the quarter, compared to analyst estimates of $3.55 billion. Sell-side analysts forecast that Diamondback Energy, Inc. will post 15.49 EPS for the current year.

Diamondback Energy Increases Dividend

The company also recently disclosed 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 of this dividend is Thursday, March 6th. This represents a $4.00 dividend on an annualized basis and a dividend yield of 2.52%. This is a positive change from Diamondback Energy’s previous quarterly dividend of $0.90. Diamondback Energy’s dividend payout ratio is currently 25.32%.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on the stock. StockNews.com upgraded shares of Diamondback Energy from a “sell” rating to a “hold” rating in a research note on Wednesday, November 13th. UBS Group upped their price objective on shares of Diamondback Energy from $212.00 to $216.00 and gave the stock a “buy” rating in a research report on Thursday, February 13th. Wolfe Research upgraded shares of Diamondback Energy from a “peer perform” rating to an “outperform” rating and set a $190.00 price objective for the company in a research report on Friday, January 3rd. JPMorgan Chase & Co. upped their price objective on shares of Diamondback Energy from $191.00 to $195.00 and gave the stock an “overweight” rating in a research report on Friday, January 17th. Finally, Raymond James upped their price objective on shares of Diamondback Energy from $237.00 to $256.00 and gave the stock a “strong-buy” rating in a research report on Thursday, January 23rd. Four equities research analysts have rated the stock with a hold rating, eighteen have given a buy rating and two have issued a strong buy rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $216.09.

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.