Diamondback Energy, Inc. (NASDAQ:FANG) Shares Bought by Rehmann Capital Advisory Group

Rehmann Capital Advisory Group increased its holdings in Diamondback Energy, Inc. (NASDAQ:FANG) by 6.0% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,439 shares of the oil and natural gas company’s stock after purchasing an additional 82 shares during the period. Rehmann Capital Advisory Group’s holdings in Diamondback Energy were worth $236,000 as of its most recent SEC filing.

Several other institutional investors have also recently added to or reduced their stakes in the business. Wintrust Investments LLC acquired a new position in shares of Diamondback Energy during the 4th quarter valued at about $28,000. R Squared Ltd purchased a new stake in Diamondback Energy in the fourth quarter valued at approximately $29,000. UMB Bank n.a. increased its position in Diamondback Energy by 247.3% during the fourth quarter. UMB Bank n.a. now owns 191 shares of the oil and natural gas company’s stock worth $31,000 after purchasing an additional 136 shares during the last quarter. Key Financial Inc raised its stake 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 worth $34,000 after purchasing an additional 188 shares during the period. Finally, Transce3nd LLC acquired a new position in shares of Diamondback Energy in the 4th quarter valued at $38,000. 90.01% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several brokerages recently weighed in on FANG. Barclays cut their target price on Diamondback Energy from $200.00 to $185.00 and set an “overweight” rating on the stock in a research report on Wednesday, April 23rd. Morgan Stanley reaffirmed an “overweight” rating on shares of Diamondback Energy in a research note on Tuesday, April 15th. Wells Fargo & Company cut their price target on shares of Diamondback Energy from $215.00 to $207.00 and set an “overweight” rating on the stock in a report on Monday, April 21st. 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. Finally, Royal Bank of Canada initiated coverage on shares of Diamondback Energy in a research report on Friday. They issued an “outperform” rating and a $180.00 price objective for the company. Two analysts have rated the stock with a hold rating, nineteen have given a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Buy” and a consensus target price of $197.70.

Insider Buying and Selling

In other Diamondback Energy news, Director Frank D. Tsuru bought 2,000 shares of the company’s stock in a transaction on Friday, February 28th. The shares were bought 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 owns 5,730 shares of the company’s stock, valued at approximately $896,802.30. This trade 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 accessible through this hyperlink. 0.70% of the stock is currently owned by company insiders.

Diamondback Energy Trading Up 1.5 %

NASDAQ FANG opened at $136.81 on Friday. The company’s fifty day moving average price is $142.89 and its two-hundred day moving average price is $161.10. The company has a market capitalization of $40.23 billion, a price-to-earnings ratio of 7.83, a price-to-earnings-growth ratio of 1.24 and a beta of 1.44. Diamondback Energy, Inc. has a 12 month low of $114.00 and a 12 month 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.

Diamondback Energy (NASDAQ:FANG) last posted its quarterly earnings results on Tuesday, February 25th. The oil and natural gas company reported $3.64 EPS for the quarter, topping analysts’ consensus estimates of $3.57 by $0.07. Diamondback Energy had a return on equity of 13.68% and a net margin of 33.64%. The business had revenue of $3.71 billion during the quarter, compared to the consensus estimate of $3.55 billion. As a group, research 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 declared a quarterly dividend, which was paid on Thursday, March 13th. Investors of record on Thursday, March 6th were given a dividend of $1.00 per share. 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 2.92%. The ex-dividend date was Thursday, March 6th. 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.