M&T Bank Corp Reduces Stock Holdings in Diamondback Energy, Inc. (NASDAQ:FANG)

M&T Bank Corp trimmed its position in Diamondback Energy, Inc. (NASDAQ:FANG) by 0.9% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 23,075 shares of the oil and natural gas company’s stock after selling 203 shares during the quarter. M&T Bank Corp’s holdings in Diamondback Energy were worth $3,579,000 as of its most recent SEC filing.

Several other hedge funds have also made changes to their positions in FANG. CWM LLC grew its stake in shares of Diamondback Energy by 1.8% in the fourth quarter. CWM LLC now owns 19,717 shares of the oil and natural gas company’s stock valued at $3,058,000 after buying an additional 354 shares in the last quarter. Raymond James Trust N.A. grew its holdings in shares of Diamondback Energy by 145.2% in the fourth quarter. Raymond James Trust N.A. now owns 11,993 shares of the oil and natural gas company’s stock valued at $1,860,000 after purchasing an additional 7,102 shares in the last quarter. Larson Financial Group LLC increased its stake in Diamondback Energy by 748.0% during the 4th quarter. Larson Financial Group LLC now owns 15,221 shares of the oil and natural gas company’s stock worth $2,361,000 after buying an additional 13,426 shares during the period. Sequoia Financial Advisors LLC boosted its position in Diamondback Energy by 613.7% in the 4th quarter. Sequoia Financial Advisors LLC now owns 15,401 shares of the oil and natural gas company’s stock valued at $2,388,000 after buying an additional 13,243 shares during the period. Finally, Raymond James & Associates increased its position in shares of Diamondback Energy by 143.0% during the fourth quarter. Raymond James & Associates now owns 981,284 shares of the oil and natural gas company’s stock worth $152,177,000 after acquiring an additional 577,514 shares during the period. Hedge funds and other institutional investors own 90.01% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms recently commented on FANG. Mizuho boosted their target price on Diamondback Energy from $200.00 to $217.00 and gave the stock a “buy” rating in a research note on Thursday, April 11th. KeyCorp raised their target price on shares of Diamondback Energy from $210.00 to $225.00 and gave the company an “overweight” rating in a report on Monday, April 22nd. Stifel Nicolaus increased their price objective on shares of Diamondback Energy from $224.00 to $229.00 and gave the company a “buy” rating in a research report on Tuesday, April 23rd. Piper Sandler lifted their price objective on shares of Diamondback Energy from $227.00 to $247.00 and gave the stock an “overweight” rating in a research report on Friday, April 19th. Finally, BMO Capital Markets increased their target price on Diamondback Energy from $167.00 to $175.00 and gave the company a “market perform” rating in a report on Tuesday, February 13th. One analyst has rated the stock with a sell rating, four have issued a hold rating, fourteen have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $205.68.

Diamondback Energy Trading Down 0.2 %

Shares of FANG stock opened at $203.68 on Wednesday. Diamondback Energy, Inc. has a twelve month low of $123.41 and a twelve month high of $211.96. The company has a current ratio of 0.92, a quick ratio of 0.89 and a debt-to-equity ratio of 0.37. The business’s 50 day moving average is $196.55 and its two-hundred day moving average is $171.35. The company has a market capitalization of $36.33 billion, a P/E ratio of 11.48 and a beta of 1.91.

Diamondback Energy (NASDAQ:FANG) last announced its quarterly earnings data on Tuesday, April 30th. The oil and natural gas company reported $4.50 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.29 by $0.21. Diamondback Energy had a net margin of 36.71% and a return on equity of 19.36%. The company had revenue of $2.23 billion for the quarter, compared to analysts’ expectations of $2.10 billion. During the same period in the previous year, the company posted $4.10 EPS. Diamondback Energy’s revenue was up 15.7% compared to the same quarter last year. Equities analysts forecast that Diamondback Energy, Inc. will post 18.91 EPS for the current year.

Diamondback Energy Cuts Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 22nd. Investors of record on Wednesday, May 15th will be given a $0.90 dividend. The ex-dividend date is Tuesday, May 14th. This represents a $3.60 dividend on an annualized basis and a yield of 1.77%. Diamondback Energy’s payout ratio is currently 20.29%.

Insider Buying and Selling at Diamondback Energy

In other Diamondback Energy news, VP Jere W. Thompson III sold 900 shares of the stock in a transaction on Friday, May 3rd. The stock was sold at an average price of $199.90, for a total value of $179,910.00. Following the completion of the transaction, the vice president now owns 7,585 shares in the company, valued at $1,516,241.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In other news, VP Jere W. Thompson III sold 900 shares of Diamondback Energy stock in a transaction that occurred on Friday, May 3rd. The shares were sold at an average price of $199.90, for a total transaction of $179,910.00. Following the completion of the sale, the vice president now directly owns 7,585 shares in the company, valued at approximately $1,516,241.50. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, VP Jere W. Thompson III sold 2,675 shares of the firm’s stock in a transaction that occurred on Tuesday, March 19th. The shares were sold at an average price of $192.35, for a total value of $514,536.25. Following the completion of the transaction, the vice president now directly owns 8,485 shares of the company’s stock, valued at $1,632,089.75. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 58,575 shares of company stock valued at $11,491,006. 0.43% of the stock is owned by corporate insiders.

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.