Amalgamated Bank Buys 548 Shares of Diamondback Energy, Inc. (NASDAQ:FANG)

Amalgamated Bank boosted its position in Diamondback Energy, Inc. (NASDAQ:FANG) by 1.6% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 35,732 shares of the oil and natural gas company’s stock after acquiring an additional 548 shares during the quarter. Amalgamated Bank’s holdings in Diamondback Energy were worth $5,854,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also added to or reduced their stakes in the company. R Squared Ltd bought a new position in shares of Diamondback Energy during the 4th quarter valued at about $29,000. UMB Bank n.a. boosted its stake in Diamondback Energy by 247.3% in the fourth 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 in the last quarter. Key Financial Inc boosted its stake in Diamondback Energy by 940.0% in the fourth 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 in the last quarter. Ashton Thomas Securities LLC purchased a new position in shares of Diamondback Energy during the third quarter worth approximately $52,000. Finally, Synergy Asset Management LLC purchased a new position in shares of Diamondback Energy during the fourth quarter worth approximately $67,000. Hedge funds and other institutional investors own 90.01% of the company’s stock.

Diamondback Energy Trading Up 2.1 %

FANG opened at $155.59 on Friday. 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 $151.00 and a 52 week high of $214.50. The stock has a market cap of $45.43 billion, a PE ratio of 8.91, a PEG ratio of 1.24 and a beta of 1.86. The business has a 50 day moving average of $165.34 and a 200-day moving average of $175.63.

Diamondback Energy (NASDAQ:FANG) last announced 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 firm had revenue of $3.71 billion for 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%. Equities research analysts predict that Diamondback Energy, Inc. will post 15.49 earnings per share for the current fiscal year.

Diamondback Energy Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, March 13th. Shareholders of record on Thursday, March 6th will be issued a $1.00 dividend. This represents a $4.00 dividend on an annualized basis and a yield of 2.57%. The ex-dividend date is Thursday, March 6th. This is a boost from Diamondback Energy’s previous quarterly dividend of $0.90. Diamondback Energy’s dividend payout ratio is 25.32%.

Analyst Ratings Changes

FANG has been the topic of several recent research reports. Morgan Stanley increased their target price on shares of Diamondback Energy from $220.00 to $227.00 and gave the company an “overweight” rating in a report on Wednesday, February 19th. JPMorgan Chase & Co. raised their price objective on Diamondback Energy from $191.00 to $195.00 and gave the company an “overweight” rating in a research note on Friday, January 17th. Wolfe Research raised Diamondback Energy from a “peer perform” rating to an “outperform” rating and set a $190.00 target price for the company in a research note on Friday, January 3rd. Mizuho raised their price target on Diamondback Energy from $201.00 to $204.00 and gave the stock an “outperform” rating in a research report on Tuesday. Finally, Raymond James boosted their price objective on Diamondback Energy from $237.00 to $256.00 and gave the company a “strong-buy” rating in a research report on Thursday, January 23rd. 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 stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $216.09.

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.