Diamondback Energy, Inc. (NASDAQ:FANG) Director Frank D. Tsuru Acquires 2,000 Shares of Stock

Diamondback Energy, Inc. (NASDAQ:FANG) Director Frank D. Tsuru acquired 2,000 shares of the stock in a transaction on Friday, February 28th. The stock was bought at an average cost of $156.51 per share, for a total transaction of $313,020.00. Following the transaction, the director now owns 5,730 shares of the company’s stock, valued at approximately $896,802.30. This trade represents a 53.62 % increase in their position. The purchase was disclosed in a filing with the SEC, which is accessible through the SEC website.

Diamondback Energy Trading Down 2.0 %

Shares of FANG opened at $145.04 on Wednesday. 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 1-year low of $140.81 and a 1-year high of $214.50. The company has a market capitalization of $41.98 billion, a P/E ratio of 8.30, a P/E/G ratio of 1.24 and a beta of 1.86. The firm’s 50 day simple moving average is $165.00 and its 200 day simple moving average is $174.34.

Diamondback Energy (NASDAQ:FANG) last posted its quarterly earnings data on Tuesday, February 25th. The oil and natural gas company reported $3.64 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.57 by $0.07. The company had revenue of $3.71 billion during 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%. Sell-side analysts forecast that Diamondback Energy, Inc. will post 15.49 earnings per share for the current fiscal year.

Diamondback Energy Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, March 13th. Stockholders of record on Thursday, March 6th will be given a dividend of $1.00 per share. The ex-dividend date is Thursday, March 6th. This is a positive change from Diamondback Energy’s previous quarterly dividend of $0.90. This represents a $4.00 annualized dividend and a dividend yield of 2.76%. Diamondback Energy’s dividend payout ratio is 25.32%.

Institutional Trading of Diamondback Energy

A number of hedge funds have recently bought and sold shares of the company. Wintrust Investments LLC bought a new position in Diamondback Energy during the fourth quarter valued at approximately $28,000. R Squared Ltd purchased a new stake in shares of Diamondback Energy in the 4th quarter valued at $29,000. UMB Bank n.a. grew its holdings in shares of Diamondback Energy by 247.3% during the 4th 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 last quarter. Fourth Dimension Wealth LLC purchased a new position in Diamondback Energy in the 4th quarter worth $33,000. Finally, Key Financial Inc boosted its position in Diamondback Energy by 940.0% during the fourth quarter. Key Financial Inc now owns 208 shares of the oil and natural gas company’s stock valued at $34,000 after buying an additional 188 shares during the period. Institutional investors own 90.01% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have recently commented on FANG shares. StockNews.com raised Diamondback Energy from a “sell” rating to a “hold” rating in a research report on Wednesday, November 13th. Piper Sandler cut their target price on shares of Diamondback Energy from $252.00 to $232.00 and set an “overweight” rating for the company in a research report on Tuesday, December 17th. Wolfe Research upgraded shares of Diamondback Energy from a “peer perform” rating to an “outperform” rating and set a $190.00 target price for the company in a research note on Friday, January 3rd. UBS Group upped their price target on shares of Diamondback Energy from $212.00 to $216.00 and gave the company a “buy” rating in a research note on Thursday, February 13th. Finally, Morgan Stanley lifted their price objective on shares of Diamondback Energy from $220.00 to $227.00 and gave the company an “overweight” rating in a research note on Wednesday, February 19th. Four research analysts have rated the stock with a hold rating, eighteen have issued a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target 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.