Parkside Financial Bank & Trust Acquires 84 Shares of Diamondback Energy, Inc. (NASDAQ:FANG)

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

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Patriot Financial Group Insurance Agency LLC lifted its holdings in shares of Diamondback Energy by 3.7% during the third quarter. Patriot Financial Group Insurance Agency LLC now owns 1,797 shares of the oil and natural gas company’s stock valued at $278,000 after purchasing an additional 64 shares in the last quarter. Coldstream Capital Management Inc. increased its position in Diamondback Energy by 1.8% during the third quarter. Coldstream Capital Management Inc. now owns 3,655 shares of the oil and natural gas company’s stock valued at $566,000 after acquiring an additional 64 shares during the last quarter. MCF Advisors LLC increased its position in Diamondback Energy by 8.6% during the fourth quarter. MCF Advisors LLC now owns 846 shares of the oil and natural gas company’s stock valued at $131,000 after acquiring an additional 67 shares during the last quarter. Veracity Capital LLC increased its position in Diamondback Energy by 3.5% during the third quarter. Veracity Capital LLC now owns 2,061 shares of the oil and natural gas company’s stock valued at $319,000 after acquiring an additional 70 shares during the last quarter. Finally, Bleakley Financial Group LLC increased its position in Diamondback Energy by 2.5% during the fourth quarter. Bleakley Financial Group LLC now owns 3,115 shares of the oil and natural gas company’s stock valued at $483,000 after acquiring an additional 75 shares during the last quarter. 90.01% of the stock is owned by institutional investors.

Diamondback Energy Price Performance

Shares of Diamondback Energy stock opened at $205.24 on Thursday. The stock has a 50 day moving average of $192.11 and a 200 day moving average of $168.87. Diamondback Energy, Inc. has a 12 month low of $123.41 and a 12 month high of $211.96. The firm has a market cap of $36.60 billion, a PE ratio of 11.84 and a beta of 1.93. The company has a current ratio of 0.77, a quick ratio of 0.74 and a debt-to-equity ratio of 0.38.

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

Diamondback Energy Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, March 12th. Stockholders of record on Tuesday, March 5th were paid a $3.08 dividend. This represents a $12.32 annualized dividend and a dividend yield of 6.00%. This is a positive change from Diamondback Energy’s previous quarterly dividend of $0.84. The ex-dividend date of this dividend was Monday, March 4th. Diamondback Energy’s dividend payout ratio (DPR) is presently 20.76%.

Insider Activity

In other news, CEO Travis D. Stice sold 30,000 shares of the firm’s stock in a transaction that occurred on Tuesday, April 2nd. The stock was sold at an average price of $200.00, for a total value of $6,000,000.00. Following the completion of the sale, the chief executive officer now directly owns 446,610 shares of the company’s stock, valued at approximately $89,322,000. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, CEO Travis D. Stice sold 30,000 shares of the firm’s stock in a transaction that occurred on Tuesday, April 2nd. The stock was sold at an average price of $200.00, for a total value of $6,000,000.00. Following the completion of the sale, the chief executive officer now directly owns 446,610 shares of the company’s stock, valued at approximately $89,322,000. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, COO Daniel N. Wesson sold 6,000 shares of the firm’s stock in a transaction that occurred on Tuesday, March 19th. The shares were sold at an average price of $192.17, for a total value of $1,153,020.00. Following the completion of the sale, the chief operating officer now directly owns 78,218 shares of the company’s stock, valued at $15,031,153.06. The disclosure for this sale can be found here. Insiders sold 57,675 shares of company stock valued at $11,311,096 in the last ninety days. Insiders own 0.43% of the company’s stock.

Analysts Set New Price Targets

FANG has been the subject of a number of analyst reports. Morgan Stanley reduced their price target on Diamondback Energy from $186.00 to $184.00 and set an “overweight” rating for the company in a research report on Monday, April 15th. Susquehanna upped their price target on Diamondback Energy from $212.00 to $245.00 and gave the stock a “positive” rating in a research report on Monday. Evercore ISI upped their price target on Diamondback Energy from $185.00 to $215.00 and gave the stock an “outperform” rating in a research report on Monday, March 25th. KeyCorp upped their price target on Diamondback Energy from $210.00 to $225.00 and gave the stock an “overweight” rating in a research report on Monday. Finally, Stifel Nicolaus upped their price objective on Diamondback Energy from $224.00 to $229.00 and gave the stock a “buy” rating in a research note on Tuesday. One analyst has rated the stock with a sell rating, five have given a hold rating, thirteen have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $202.53.

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.