Frank D. Tsuru Buys 2,000 Shares of Diamondback Energy, Inc. (NASDAQ:FANG) Stock

Diamondback Energy, Inc. (NASDAQ:FANG) Director Frank D. Tsuru purchased 2,000 shares of the business’s stock in a transaction on Friday, February 28th. The shares were bought at an average cost of $156.51 per share, with a total value of $313,020.00. Following the acquisition, the director now directly owns 5,730 shares of the company’s stock, valued at $896,802.30. This trade represents a 53.62 % increase in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website.

Diamondback Energy Price Performance

NASDAQ:FANG opened at $139.90 on Friday. 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 company has a market capitalization of $40.49 billion, a P/E ratio of 8.01, a P/E/G ratio of 1.24 and a beta of 1.86. Diamondback Energy, Inc. has a 12 month low of $138.94 and a 12 month high of $214.50. The business’s 50-day moving average is $164.34 and its 200 day moving average is $173.89.

Diamondback Energy (NASDAQ:FANG) last posted its earnings results on Tuesday, February 25th. The oil and natural gas company reported $3.64 EPS for the quarter, topping analysts’ consensus estimates of $3.57 by $0.07. The company had revenue of $3.71 billion for the quarter, compared to the consensus estimate of $3.55 billion. Diamondback Energy had a return on equity of 13.68% and a net margin of 33.64%. On average, equities research analysts forecast that Diamondback Energy, Inc. will post 15.49 earnings per share for the current fiscal year.

Diamondback Energy Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, March 13th. Shareholders of record on Thursday, March 6th will be given a dividend of $1.00 per share. The ex-dividend date is Thursday, March 6th. This is an increase from Diamondback Energy’s previous quarterly dividend of $0.90. This represents a $4.00 dividend on an annualized basis and a yield of 2.86%. Diamondback Energy’s dividend payout ratio is 25.32%.

Institutional Investors Weigh In On Diamondback Energy

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Wintrust Investments LLC purchased a new stake in Diamondback Energy during the fourth quarter valued at approximately $28,000. R Squared Ltd purchased a new stake in Diamondback Energy during the fourth quarter valued at approximately $29,000. UMB Bank n.a. raised its position in Diamondback Energy by 247.3% during the fourth quarter. UMB Bank n.a. now owns 191 shares of the oil and natural gas company’s stock valued at $31,000 after purchasing an additional 136 shares during the period. Fourth Dimension Wealth LLC purchased a new stake in Diamondback Energy during the fourth quarter valued at approximately $33,000. Finally, Key Financial Inc raised its position in Diamondback Energy by 940.0% during the fourth quarter. Key Financial Inc now owns 208 shares of the oil and natural gas company’s stock valued at $34,000 after purchasing an additional 188 shares during the period. 90.01% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

FANG has been the subject of several recent research reports. Morgan Stanley boosted their price target on Diamondback Energy from $220.00 to $227.00 and gave the company an “overweight” rating in a report on Wednesday, February 19th. The Goldman Sachs Group initiated coverage on Diamondback Energy in a report on Monday, December 2nd. They set a “buy” rating and a $227.00 price target for the company. Piper Sandler cut their price target on Diamondback Energy from $252.00 to $232.00 and set an “overweight” rating for the company in a report on Tuesday, December 17th. Raymond James boosted their price target on Diamondback Energy from $237.00 to $256.00 and gave the company a “strong-buy” rating in a report on Thursday, January 23rd. Finally, StockNews.com raised Diamondback Energy from a “sell” rating to a “hold” rating in a report on Wednesday, November 13th. Four equities research analysts have rated the stock with a hold rating, eighteen have assigned a buy rating and two have issued a strong buy rating to the company. According to MarketBeat, Diamondback Energy currently has an average rating of “Moderate Buy” and a consensus target price of $216.09.

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.