Diamondback Energy, Inc. (NASDAQ:FANG) Shares Sold by M&T Bank Corp

M&T Bank Corp trimmed its holdings in shares of Diamondback Energy, Inc. (NASDAQ:FANG) by 8.0% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 22,761 shares of the oil and natural gas company’s stock after selling 1,967 shares during the period. M&T Bank Corp’s holdings in Diamondback Energy were worth $3,729,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently modified their holdings of the business. State Street Corp raised its holdings in shares of Diamondback Energy by 1.3% during the third quarter. State Street Corp now owns 11,858,555 shares of the oil and natural gas company’s stock worth $2,044,415,000 after purchasing an additional 149,871 shares during the period. Geode Capital Management LLC increased its holdings in shares of Diamondback Energy by 6.1% in the 3rd quarter. Geode Capital Management LLC now owns 4,618,560 shares of the oil and natural gas company’s stock worth $793,611,000 after acquiring an additional 266,299 shares during the period. Bank of New York Mellon Corp increased its holdings in shares of Diamondback Energy by 13.7% in the 4th quarter. Bank of New York Mellon Corp now owns 4,163,070 shares of the oil and natural gas company’s stock worth $682,036,000 after acquiring an additional 502,916 shares during the period. Pacer Advisors Inc. increased its holdings in shares of Diamondback Energy by 9.3% in the 3rd quarter. Pacer Advisors Inc. now owns 2,704,520 shares of the oil and natural gas company’s stock worth $466,259,000 after acquiring an additional 230,689 shares during the period. Finally, Diamond Hill Capital Management Inc. increased its holdings in shares of Diamondback Energy by 25.6% in the 3rd quarter. Diamond Hill Capital Management Inc. now owns 2,158,910 shares of the oil and natural gas company’s stock worth $372,196,000 after acquiring an additional 439,579 shares during the period. 90.01% of the stock is owned by institutional investors and hedge funds.

Diamondback Energy Stock Performance

NASDAQ:FANG opened at $140.11 on Friday. Diamondback Energy, Inc. has a twelve month low of $138.94 and a twelve month high of $214.50. The company has a current ratio of 0.45, a quick ratio of 0.42 and a debt-to-equity ratio of 0.31. The company has a 50-day moving average of $163.97 and a 200-day moving average of $173.39. The firm has a market cap of $40.55 billion, a price-to-earnings ratio of 8.02, a price-to-earnings-growth ratio of 1.24 and a beta of 1.85.

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 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 company had revenue of $3.71 billion during the quarter, compared to analyst estimates 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 company also recently disclosed a quarterly dividend, which will be paid on Thursday, March 13th. Shareholders of record on Thursday, March 6th will be paid a dividend of $1.00 per share. The ex-dividend date of this dividend is Thursday, March 6th. This is a positive change from Diamondback Energy’s previous quarterly dividend of $0.90. This represents a $4.00 dividend on an annualized basis and a yield of 2.85%. Diamondback Energy’s dividend payout ratio is currently 25.32%.

Insider Buying and Selling at Diamondback Energy

In other news, Director Frank D. Tsuru acquired 2,000 shares of Diamondback Energy stock in a transaction on Friday, February 28th. The stock was bought at an average cost of $156.51 per share, with a total value of $313,020.00. Following the completion of the purchase, 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 purchase was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders own 0.48% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on the stock. Wells Fargo & Company increased their price objective on shares of Diamondback Energy from $218.00 to $219.00 and gave the stock an “overweight” rating in a report on Tuesday, December 17th. The Goldman Sachs Group assumed coverage on shares of Diamondback Energy in a report on Monday, December 2nd. They issued a “buy” rating and a $227.00 price objective on the stock. UBS Group increased their price objective on shares of Diamondback Energy from $212.00 to $216.00 and gave the stock a “buy” rating in a report on Thursday, February 13th. Morgan Stanley increased their price objective on shares of Diamondback Energy from $220.00 to $227.00 and gave the stock an “overweight” rating in a report on Wednesday, February 19th. Finally, Mizuho increased their price objective on shares of Diamondback Energy from $201.00 to $204.00 and gave the stock an “outperform” rating in a report on Tuesday, February 25th. Four analysts have rated the stock with a hold rating, eighteen have assigned a buy rating and two have given a strong buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $216.09.

Diamondback Energy 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.