First National Trust Co Buys Shares of 13,215 Diamondback Energy, Inc. (NASDAQ:FANG)

First National Trust Co bought a new stake in shares of Diamondback Energy, Inc. (NASDAQ:FANG) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm bought 13,215 shares of the oil and natural gas company’s stock, valued at approximately $2,165,000.

Several other institutional investors have also added to or reduced their stakes in FANG. Wintrust Investments LLC purchased a new position in shares of Diamondback Energy in the 4th quarter worth $28,000. R Squared Ltd purchased a new position in shares of Diamondback Energy in the 4th quarter worth $29,000. UMB Bank n.a. boosted its stake in shares of Diamondback Energy by 247.3% in the 4th 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 during the last quarter. Key Financial Inc boosted its stake in shares of Diamondback Energy by 940.0% in the 4th 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 during the last quarter. Finally, Rakuten Securities Inc. boosted its stake in shares of Diamondback Energy by 62.4% in the 4th quarter. Rakuten Securities Inc. now owns 276 shares of the oil and natural gas company’s stock worth $45,000 after buying an additional 106 shares during the last quarter. 90.01% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

FANG has been the topic of a number of recent research reports. Mizuho raised their target price on Diamondback Energy from $201.00 to $204.00 and gave the stock an “outperform” rating in a report on Tuesday, February 25th. JPMorgan Chase & Co. decreased their target price on Diamondback Energy from $212.00 to $167.00 and set an “overweight” rating on the stock in a report on Thursday. Truist Financial raised their target price on Diamondback Energy from $236.00 to $238.00 and gave the stock a “buy” rating in a report on Wednesday, February 19th. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $210.00 target price on shares of Diamondback Energy in a report on Thursday, January 23rd. Finally, Morgan Stanley raised their target price on Diamondback Energy from $220.00 to $227.00 and gave the stock an “overweight” rating in a report on Wednesday, February 19th. One investment analyst has rated the stock with a sell rating, three have given a hold rating, eighteen have given a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $211.92.

Insider Buying and Selling

In related news, Director Frank D. Tsuru purchased 2,000 shares of the company’s stock in a transaction that occurred on Friday, February 28th. The stock was bought at an average price of $156.51 per share, for a total transaction of $313,020.00. Following the completion of the transaction, the director now owns 5,730 shares in the company, valued at approximately $896,802.30. The trade was a 53.62 % increase in their position. The purchase was disclosed in a filing with the SEC, which is available at the SEC website. 0.48% of the stock is currently owned by company insiders.

Diamondback Energy Trading Up 3.0 %

Shares of FANG stock opened at $150.20 on Friday. Diamondback Energy, Inc. has a 12-month low of $137.09 and a 12-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 stock’s 50-day moving average price is $162.00 and its 200-day moving average price is $171.85. The stock has a market capitalization of $43.47 billion, a price-to-earnings ratio of 8.60, a price-to-earnings-growth ratio of 1.24 and a beta of 1.84.

Diamondback Energy (NASDAQ:FANG) last issued its earnings results on Tuesday, February 25th. The oil and natural gas company reported $3.64 earnings per share (EPS) for the quarter, topping the consensus estimate 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 return on equity of 13.68% and a net margin of 33.64%. Equities research analysts predict that Diamondback Energy, Inc. will post 15.49 EPS for the current fiscal year.

Diamondback Energy Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, March 13th. Investors of record on Thursday, March 6th were given a $1.00 dividend. The ex-dividend date of this dividend was Thursday, March 6th. This represents a $4.00 annualized dividend and a yield of 2.66%. This is a positive change from Diamondback Energy’s previous quarterly dividend of $0.90. Diamondback Energy’s dividend payout ratio (DPR) is currently 25.32%.

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.