Paloma Partners Management Co Increases Holdings in Diamondback Energy, Inc. (NASDAQ:FANG)

Paloma Partners Management Co raised its position in Diamondback Energy, Inc. (NASDAQ:FANG) by 30.5% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 145,000 shares of the oil and natural gas company’s stock after purchasing an additional 33,848 shares during the quarter. Diamondback Energy accounts for approximately 1.1% of Paloma Partners Management Co’s holdings, making the stock its 23rd biggest holding. Paloma Partners Management Co’s holdings in Diamondback Energy were worth $23,755,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. AQR Capital Management LLC boosted its holdings in shares of Diamondback Energy by 4.2% in the fourth quarter. AQR Capital Management LLC now owns 44,751 shares of the oil and natural gas company’s stock valued at $7,332,000 after purchasing an additional 1,802 shares during the period. Northern Trust Corp raised its holdings in shares of Diamondback Energy by 11.7% in the 4th quarter. Northern Trust Corp now owns 2,092,919 shares of the oil and natural gas company’s stock valued at $342,883,000 after purchasing an additional 219,173 shares in the last quarter. The Manufacturers Life Insurance Company raised its holdings in shares of Diamondback Energy by 7.4% in the 4th quarter. The Manufacturers Life Insurance Company now owns 184,408 shares of the oil and natural gas company’s stock valued at $30,211,000 after purchasing an additional 12,671 shares in the last quarter. Marshall & Sterling Wealth Advisors Inc. bought a new stake in shares of Diamondback Energy in the 4th quarter valued at about $436,000. Finally, Second Half Financial Partners LLC raised its stake in shares of Diamondback Energy by 94.0% during the 4th quarter. Second Half Financial Partners LLC now owns 3,537 shares of the oil and natural gas company’s stock worth $579,000 after acquiring an additional 1,714 shares in the last quarter. 90.01% of the stock is owned by hedge funds and other institutional investors.

Diamondback Energy Price Performance

Shares of NASDAQ FANG opened at $137.82 on Tuesday. The firm has a 50-day simple moving average of $144.59 and a 200-day simple moving average of $162.17. The stock has a market capitalization of $40.53 billion, a price-to-earnings ratio of 7.89, a price-to-earnings-growth ratio of 1.24 and a beta of 1.44. The company has a quick ratio of 0.42, a current ratio of 0.45 and a debt-to-equity ratio of 0.31. Diamondback Energy, Inc. has a 52 week low of $114.00 and a 52 week high of $214.50.

Diamondback Energy (NASDAQ:FANG) last issued its earnings results on Tuesday, February 25th. The oil and natural gas company reported $3.64 EPS for the quarter, beating analysts’ consensus estimates of $3.57 by $0.07. The business had revenue of $3.71 billion during 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%. On average, equities analysts predict 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 was paid on Thursday, March 13th. Investors of record on Thursday, March 6th were issued a $1.00 dividend. The ex-dividend date was Thursday, March 6th. This represents a $4.00 dividend on an annualized basis and a dividend yield of 2.90%. 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%.

Insider Activity at Diamondback Energy

In other news, Director Frank D. Tsuru acquired 2,000 shares of the company’s stock in a transaction that occurred on Friday, February 28th. The stock was purchased at an average price of $156.51 per share, with a total value of $313,020.00. Following the completion of the acquisition, the director now owns 5,730 shares of the company’s stock, valued at $896,802.30. This trade represents a 53.62 % increase in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 0.48% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

Several research analysts recently commented on FANG shares. Raymond James reduced their price objective on shares of Diamondback Energy from $245.00 to $214.00 and set a “strong-buy” rating for the company in a research note on Wednesday, March 12th. Mizuho boosted their target price on shares of Diamondback Energy from $201.00 to $204.00 and gave the stock an “outperform” rating in a research report on Tuesday, February 25th. Truist Financial boosted their target price on shares of Diamondback Energy from $238.00 to $242.00 and gave the stock a “buy” rating in a research report on Thursday, April 17th. Piper Sandler dropped their price objective on shares of Diamondback Energy from $240.00 to $234.00 and set an “overweight” rating on the stock in a report on Tuesday, April 22nd. Finally, Wolfe Research raised shares of Diamondback Energy from a “peer perform” rating to an “outperform” rating and set a $190.00 price objective on the stock in a report on Friday, January 3rd. Two investment analysts have rated the stock with a hold rating, nineteen have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Buy” and an average target price of $199.00.

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.