Diamondback Energy, Inc. $FANG Shares Bought by FineMark National Bank & Trust

FineMark National Bank & Trust lifted its stake in shares of Diamondback Energy, Inc. (NASDAQ:FANG) by 1.2% in the second quarter, HoldingsChannel.com reports. The institutional investor owned 39,550 shares of the oil and natural gas company’s stock after purchasing an additional 486 shares during the period. FineMark National Bank & Trust’s holdings in Diamondback Energy were worth $5,434,000 as of its most recent SEC filing.

A number of other large investors have also recently made changes to their positions in the company. SouthState Corp lifted its stake in Diamondback Energy by 596.4% in the first quarter. SouthState Corp now owns 195 shares of the oil and natural gas company’s stock worth $31,000 after acquiring an additional 167 shares during the last quarter. Creekmur Asset Management LLC purchased a new stake in shares of Diamondback Energy during the 2nd quarter worth $28,000. Eastern Bank lifted its position in shares of Diamondback Energy by 119.8% during the 1st quarter. Eastern Bank now owns 233 shares of the oil and natural gas company’s stock worth $37,000 after purchasing an additional 127 shares during the last quarter. Zions Bancorporation National Association UT acquired a new position in shares of Diamondback Energy during the first quarter worth $43,000. Finally, Cape Investment Advisory Inc. increased its holdings in Diamondback Energy by 148.6% in the first quarter. Cape Investment Advisory Inc. now owns 343 shares of the oil and natural gas company’s stock valued at $55,000 after buying an additional 205 shares during the last quarter. 90.01% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of analysts have issued reports on the company. William Blair started coverage on Diamondback Energy in a report on Monday, August 25th. They set an “outperform” rating for the company. Evercore ISI boosted their target price on Diamondback Energy from $165.00 to $175.00 and gave the stock an “outperform” rating in a research note on Monday, October 6th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Diamondback Energy in a report on Thursday, November 13th. Susquehanna cut their price objective on shares of Diamondback Energy to $188.00 and set a “positive” rating on the stock in a report on Monday, October 20th. Finally, Scotiabank restated an “outperform” rating on shares of Diamondback Energy in a research report on Thursday, October 9th. Two equities research analysts have rated the stock with a Strong Buy rating, twenty have assigned a Buy rating and one has issued a Hold rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Buy” and a consensus target price of $188.82.

Diamondback Energy Trading Up 2.2%

FANG opened at $149.58 on Wednesday. The company has a quick ratio of 0.60, a current ratio of 0.62 and a debt-to-equity ratio of 0.35. Diamondback Energy, Inc. has a 52 week low of $114.00 and a 52 week high of $186.07. The business’s 50 day moving average is $142.96 and its two-hundred day moving average is $142.33. The firm has a market cap of $42.86 billion, a price-to-earnings ratio of 10.39 and a beta of 0.99.

Diamondback Energy (NASDAQ:FANG) last announced its earnings results on Monday, November 3rd. The oil and natural gas company reported $3.08 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.94 by $0.14. The business had revenue of $3.92 billion for the quarter, compared to analyst estimates of $3.48 billion. Diamondback Energy had a net margin of 27.32% and a return on equity of 9.57%. The company’s revenue for the quarter was up 48.4% compared to the same quarter last year. During the same period last year, the firm posted $3.19 earnings per share. On average, research analysts predict that Diamondback Energy, Inc. will post 15.49 EPS for the current year.

Diamondback Energy Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, November 20th. Shareholders of record on Thursday, November 13th will be paid a $1.00 dividend. The ex-dividend date is Thursday, November 13th. This represents a $4.00 dividend on an annualized basis and a yield of 2.7%. Diamondback Energy’s payout ratio is currently 27.80%.

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.