SLT Holdings LLC Buys Shares of 3,131 Diamondback Energy, Inc. (NASDAQ:FANG)

SLT Holdings LLC bought a new stake in shares of Diamondback Energy, Inc. (NASDAQ:FANG) in the fourth quarter, Holdings Channel.com reports. The fund bought 3,131 shares of the oil and natural gas company’s stock, valued at approximately $513,000.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in FANG. R Squared Ltd acquired a new stake in shares of Diamondback Energy during the 4th quarter worth approximately $29,000. UMB Bank n.a. grew its position 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 worth $31,000 after buying an additional 136 shares during the period. Key Financial Inc grew its position in shares of Diamondback Energy by 940.0% during the 4th quarter. Key Financial Inc now owns 208 shares of the oil and natural gas company’s stock worth $34,000 after buying an additional 188 shares during the period. Smithfield Trust Co grew its position in shares of Diamondback Energy by 37.8% during the 4th quarter. Smithfield Trust Co now owns 310 shares of the oil and natural gas company’s stock worth $50,000 after buying an additional 85 shares during the period. Finally, Ashton Thomas Securities LLC acquired a new stake in shares of Diamondback Energy during the 3rd quarter worth approximately $52,000. Institutional investors and hedge funds own 90.01% of the company’s stock.

Diamondback Energy Trading Up 0.2 %

NASDAQ FANG opened at $140.11 on Friday. The stock has a market capitalization of $40.55 billion, a price-to-earnings ratio of 8.02, a PEG ratio of 1.24 and a beta of 1.85. Diamondback Energy, Inc. has a one year low of $138.94 and a one year high of $214.50. The company has a debt-to-equity ratio of 0.31, a current ratio of 0.45 and a quick ratio of 0.42. The business’s fifty day moving average is $163.97 and its 200-day moving average is $173.39.

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 for the quarter, topping the consensus estimate of $3.57 by $0.07. Diamondback Energy had a return on equity of 13.68% and a net margin of 33.64%. The company had revenue of $3.71 billion during the quarter, compared to analyst estimates of $3.55 billion. Equities research analysts predict 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 is Thursday, March 6th. This represents a $4.00 annualized dividend and a yield of 2.85%. This is a positive change from Diamondback Energy’s previous quarterly dividend of $0.90. Diamondback Energy’s dividend payout ratio (DPR) is 25.32%.

Analysts Set New Price Targets

FANG has been the subject of several recent analyst reports. Truist Financial raised their price objective on shares of Diamondback Energy from $236.00 to $238.00 and gave the stock a “buy” rating in a research report on Wednesday, February 19th. Raymond James lifted their price target on shares of Diamondback Energy from $237.00 to $256.00 and gave the company a “strong-buy” rating in a research report on Thursday, January 23rd. Wolfe Research raised shares of Diamondback Energy from a “peer perform” rating to an “outperform” rating and set a $190.00 price target for the company in a research report on Friday, January 3rd. Morgan Stanley lifted their price target on shares of Diamondback Energy from $220.00 to $227.00 and gave the company an “overweight” rating in a research report on Wednesday, February 19th. Finally, Mizuho lifted their price target on shares of Diamondback Energy from $201.00 to $204.00 and gave the company an “outperform” rating in a research report on Tuesday, February 25th. 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, the stock has an average rating of “Moderate Buy” and an average price target of $216.09.

Insider Buying and Selling

In related news, Director Frank D. Tsuru bought 2,000 shares of Diamondback Energy stock in a transaction on Friday, February 28th. The stock was acquired at an average price of $156.51 per share, with a total value of $313,020.00. Following the acquisition, the director now directly owns 5,730 shares of the company’s stock, valued at $896,802.30. This represents a 53.62 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 0.48% of the stock is currently owned by insiders.

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.