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

Paloma Partners Management Co grew its stake in Diamondback Energy, Inc. (NASDAQ:FANG) by 30.5% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 145,000 shares of the oil and natural gas company’s stock after buying an additional 33,848 shares during the period. Diamondback Energy makes up about 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 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also bought and sold shares of the stock. AQR Capital Management LLC grew its stake in Diamondback Energy by 4.2% in the 4th quarter. AQR Capital Management LLC now owns 44,751 shares of the oil and natural gas company’s stock worth $7,332,000 after buying an additional 1,802 shares in the last quarter. Northern Trust Corp grew its stake in 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 worth $342,883,000 after buying an additional 219,173 shares in the last quarter. The Manufacturers Life Insurance Company grew its stake in 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 worth $30,211,000 after buying an additional 12,671 shares in the last quarter. Marshall & Sterling Wealth Advisors Inc. purchased a new position in Diamondback Energy in the 4th quarter worth approximately $436,000. Finally, Second Half Financial Partners LLC boosted its stake in shares of Diamondback Energy by 94.0% in the 4th quarter. Second Half Financial Partners LLC now owns 3,537 shares of the oil and natural gas company’s stock valued at $579,000 after purchasing an additional 1,714 shares in the last quarter. Hedge funds and other institutional investors own 90.01% of the company’s stock.

Diamondback Energy Stock Up 0.8 %

FANG opened at $137.82 on Tuesday. The firm has a 50-day simple moving average of $144.59 and a two-hundred day simple moving average of $162.17. Diamondback Energy, Inc. has a 52 week low of $114.00 and a 52 week high of $214.50. The company has a market capitalization of $40.53 billion, a PE 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 (NASDAQ:FANG) last released its quarterly earnings data on Tuesday, February 25th. The oil and natural gas company reported $3.64 EPS for the quarter, beating the consensus estimate of $3.57 by $0.07. Diamondback Energy had a net margin of 33.64% and a return on equity of 13.68%. The business had revenue of $3.71 billion during the quarter, compared to the consensus estimate of $3.55 billion. Analysts forecast that Diamondback Energy, Inc. will post 15.49 earnings per share for the current fiscal year.

Diamondback Energy Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, March 13th. Shareholders of record on Thursday, March 6th were issued a dividend of $1.00 per share. This represents a $4.00 annualized dividend and a dividend yield of 2.90%. The ex-dividend date was Thursday, March 6th. This is an increase from Diamondback Energy’s previous quarterly dividend of $0.90. Diamondback Energy’s dividend payout ratio is 25.32%.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on FANG shares. JPMorgan Chase & Co. cut their price objective on shares of Diamondback Energy from $167.00 to $166.00 and set an “overweight” rating for the company in a research note on Thursday, April 10th. Truist Financial increased their price target on shares of Diamondback Energy from $238.00 to $242.00 and gave the stock a “buy” rating in a research note on Thursday, April 17th. Wells Fargo & Company cut their price objective on shares of Diamondback Energy from $215.00 to $207.00 and set an “overweight” rating on the stock in a research report on Monday, April 21st. Barclays cut their price objective on shares of Diamondback Energy from $200.00 to $185.00 and set an “overweight” rating on the stock in a research report on Wednesday, April 23rd. Finally, Piper Sandler decreased their target price on shares of Diamondback Energy from $240.00 to $234.00 and set an “overweight” rating for the company in a research note on Tuesday, April 22nd. Two equities research analysts have rated the stock with a hold rating, nineteen have given a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Buy” and an average target price of $199.00.

Insider Buying and Selling at Diamondback Energy

In other Diamondback Energy news, Director Frank D. Tsuru bought 2,000 shares of the firm’s stock in a transaction dated Friday, February 28th. The shares were purchased 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 $896,802.30. This represents a 53.62 % increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Insiders own 0.48% of the company’s stock.

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.