Diamondback Energy, Inc. (NASDAQ:FANG) Shares Purchased by Parkside Financial Bank & Trust

Parkside Financial Bank & Trust grew its position in shares of Diamondback Energy, Inc. (NASDAQ:FANG) by 8.4% during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,082 shares of the oil and natural gas company’s stock after purchasing an additional 84 shares during the period. Parkside Financial Bank & Trust’s holdings in Diamondback Energy were worth $168,000 as of its most recent SEC filing.

Other large investors also recently added to or reduced their stakes in the company. Raymond James Trust N.A. lifted its stake in Diamondback Energy by 145.2% during the fourth quarter. Raymond James Trust N.A. now owns 11,993 shares of the oil and natural gas company’s stock worth $1,860,000 after purchasing an additional 7,102 shares in the last quarter. Larson Financial Group LLC increased its position in shares of Diamondback Energy by 748.0% during the fourth quarter. Larson Financial Group LLC now owns 15,221 shares of the oil and natural gas company’s stock worth $2,361,000 after acquiring an additional 13,426 shares during the period. Sequoia Financial Advisors LLC increased its position in shares of Diamondback Energy by 613.7% during the fourth quarter. Sequoia Financial Advisors LLC now owns 15,401 shares of the oil and natural gas company’s stock worth $2,388,000 after acquiring an additional 13,243 shares during the period. 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. Finally, Morgan Stanley increased its position in shares of Diamondback Energy by 2.6% during the third quarter. Morgan Stanley now owns 3,494,159 shares of the oil and natural gas company’s stock worth $541,175,000 after acquiring an additional 89,663 shares during the period. 90.01% of the stock is currently owned by institutional investors and hedge funds.

Diamondback Energy Stock Performance

NASDAQ FANG opened at $205.24 on Thursday. The company has a debt-to-equity ratio of 0.38, a current ratio of 0.77 and a quick ratio of 0.74. Diamondback Energy, Inc. has a 1 year low of $123.41 and a 1 year high of $211.96. The company has a market capitalization of $36.60 billion, a PE ratio of 11.84 and a beta of 1.93. The company has a fifty day moving average of $192.11 and a two-hundred day moving average of $168.87.

Diamondback Energy (NASDAQ:FANG) last released its quarterly earnings data on Tuesday, February 20th. The oil and natural gas company reported $4.74 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.61 by $0.13. Diamondback Energy had a net margin of 37.36% and a return on equity of 19.56%. The company had revenue of $2.23 billion during the quarter, compared to the consensus estimate of $2.16 billion. During the same quarter in the prior year, the firm posted $5.29 earnings per share. Diamondback Energy’s revenue for the quarter was up 9.8% on a year-over-year basis. As a group, analysts expect that Diamondback Energy, Inc. will post 18.84 earnings per share for the current year.

Diamondback Energy Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, March 12th. Stockholders of record on Tuesday, March 5th were paid a dividend of $3.08 per share. This is an increase from Diamondback Energy’s previous quarterly dividend of $0.84. The ex-dividend date of this dividend was Monday, March 4th. This represents a $12.32 annualized dividend and a dividend yield of 6.00%. Diamondback Energy’s dividend payout ratio is 20.76%.

Wall Street Analyst Weigh In

FANG has been the topic of a number of recent research reports. Bank of America raised Diamondback Energy from an “underperform” rating to a “neutral” rating and upped their price objective for the stock from $129.00 to $170.00 in a research report on Monday, February 12th. Bank Of America (Bofa) cut their price objective on Diamondback Energy from $147.00 to $129.00 and set an “underperform” rating on the stock in a research report on Thursday, January 18th. Barclays began coverage on Diamondback Energy in a research report on Wednesday, April 10th. They set an “equal weight” rating and a $214.00 price objective on the stock. Royal Bank of Canada reissued an “outperform” rating and issued a $195.00 target price on shares of Diamondback Energy in a report on Monday, March 4th. Finally, UBS Group increased their target price on Diamondback Energy from $183.00 to $200.00 and gave the company a “buy” rating in a report on Wednesday, February 14th. One analyst has rated the stock with a sell rating, five have issued a hold rating, thirteen have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $202.53.

Insider Transactions at Diamondback Energy

In other news, CAO Teresa L. Dick sold 2,000 shares of the stock in a transaction dated Wednesday, March 20th. The shares were sold at an average price of $192.00, for a total transaction of $384,000.00. Following the completion of the sale, the chief accounting officer now owns 96,523 shares in the company, valued at $18,532,416. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In other news, CAO Teresa L. Dick sold 2,000 shares of the stock in a transaction dated Wednesday, March 20th. The shares were sold at an average price of $192.00, for a total transaction of $384,000.00. Following the completion of the sale, the chief accounting officer now owns 96,523 shares in the company, valued at $18,532,416. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, VP Jere W. Thompson III sold 2,675 shares of the stock in a transaction dated Tuesday, March 19th. The stock was sold at an average price of $192.35, for a total transaction of $514,536.25. Following the sale, the vice president now owns 8,485 shares of the company’s stock, valued at approximately $1,632,089.75. The disclosure for this sale can be found here. Over the last quarter, insiders sold 57,675 shares of company stock worth $11,311,096. Company insiders own 0.43% of the company’s stock.

Diamondback Energy Company 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.