Nemes Rush Group LLC Has $1.01 Million Stock Holdings in Diamondback Energy, Inc. (NASDAQ:FANG)

Nemes Rush Group LLC increased its holdings in shares of Diamondback Energy, Inc. (NASDAQ:FANG) by 8.7% in the fourth quarter, according to its most recent disclosure with the SEC. The firm owned 6,170 shares of the oil and natural gas company’s stock after purchasing an additional 496 shares during the period. Nemes Rush Group LLC’s holdings in Diamondback Energy were worth $1,011,000 as of its most recent filing with the SEC.

A number of other large investors have also added to or reduced their stakes in the business. State Street Corp lifted its holdings in Diamondback Energy by 1.3% during the 3rd quarter. State Street Corp now owns 11,858,555 shares of the oil and natural gas company’s stock worth $2,044,415,000 after purchasing an additional 149,871 shares during the last quarter. Boston Partners raised its holdings in shares of Diamondback Energy by 12.4% during the 4th quarter. Boston Partners now owns 5,169,742 shares of the oil and natural gas company’s stock worth $849,202,000 after buying an additional 571,820 shares in the last quarter. Geode Capital Management LLC lifted its stake in Diamondback Energy by 6.1% in the 3rd quarter. Geode Capital Management LLC now owns 4,618,560 shares of the oil and natural gas company’s stock valued at $793,611,000 after purchasing an additional 266,299 shares during the last quarter. Bank of New York Mellon Corp raised its position in Diamondback Energy by 13.7% in the fourth quarter. Bank of New York Mellon Corp now owns 4,163,070 shares of the oil and natural gas company’s stock valued at $682,036,000 after purchasing an additional 502,916 shares during the last quarter. Finally, Diamond Hill Capital Management Inc. boosted its position in Diamondback Energy by 30.5% during the 4th quarter. Diamond Hill Capital Management Inc. now owns 2,817,554 shares of the oil and natural gas company’s stock worth $461,600,000 after buying an additional 658,644 shares during the period. Institutional investors own 90.01% of the company’s stock.

Analyst Upgrades and Downgrades

FANG has been the topic of a number of analyst reports. Truist Financial upped their price target on Diamondback Energy from $236.00 to $238.00 and gave the company a “buy” rating in a research report on Wednesday, February 19th. Royal Bank of Canada restated an “outperform” rating and set a $210.00 price target on shares of Diamondback Energy in a report on Thursday, January 23rd. The Goldman Sachs Group initiated coverage on shares of Diamondback Energy in a research note on Monday, December 2nd. They issued a “buy” rating and a $227.00 price objective on the stock. Wolfe Research raised shares of Diamondback Energy from a “peer perform” rating to an “outperform” rating and set a $190.00 target price for the company in a research note on Friday, January 3rd. Finally, Mizuho upped their price target on shares of Diamondback Energy from $201.00 to $204.00 and gave the company an “outperform” rating in a research report on Tuesday, February 25th. Four investment 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 data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $209.33.

Insiders Place Their Bets

In related news, Director Frank D. Tsuru acquired 2,000 shares of the business’s stock in a transaction dated Friday, February 28th. The shares were acquired at an average price of $156.51 per share, with a total value of $313,020.00. Following the completion of the transaction, the director now owns 5,730 shares of the company’s stock, valued at $896,802.30. The trade was a 53.62 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 0.48% of the stock is currently owned by insiders.

Diamondback Energy Stock Up 1.5 %

NASDAQ:FANG opened at $159.88 on Tuesday. The company has a market cap of $46.28 billion, a PE ratio of 9.15, a P/E/G ratio of 1.24 and a beta of 1.85. 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’s 50 day moving average is $158.25 and its two-hundred day moving average is $169.65. Diamondback Energy, Inc. has a twelve month low of $137.09 and a twelve month high of $214.50.

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

Diamondback Energy Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, March 13th. Stockholders of record on Thursday, March 6th were paid a $1.00 dividend. This represents a $4.00 annualized dividend and a dividend yield of 2.50%. The ex-dividend date of this dividend was Thursday, March 6th. This is a positive change from Diamondback Energy’s previous quarterly dividend of $0.90. Diamondback Energy’s dividend payout ratio is 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.