35,395 Shares in Diamondback Energy, Inc. (NASDAQ:FANG) Bought by ZEGA Investments LLC

ZEGA Investments LLC bought a new position in shares of Diamondback Energy, Inc. (NASDAQ:FANG) in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund bought 35,395 shares of the oil and natural gas company’s stock, valued at approximately $6,132,000. Diamondback Energy makes up 1.5% of ZEGA Investments LLC’s holdings, making the stock its 12th biggest position.

A number of other institutional investors have also added to or reduced their stakes in FANG. Lakewood Asset Management LLC grew its position in Diamondback Energy by 0.5% in the fourth quarter. Lakewood Asset Management LLC now owns 11,340 shares of the oil and natural gas company’s stock worth $1,858,000 after acquiring an additional 60 shares in the last quarter. Magnolia Capital Advisors LLC raised its position in Diamondback Energy by 2.0% in the 4th quarter. Magnolia Capital Advisors LLC now owns 3,247 shares of the oil and natural gas company’s stock worth $532,000 after purchasing an additional 64 shares during the period. Barden Capital Management Inc. lifted its stake in Diamondback Energy by 1.5% in the fourth quarter. Barden Capital Management Inc. now owns 4,380 shares of the oil and natural gas company’s stock worth $718,000 after purchasing an additional 64 shares during the last quarter. Citizens Financial Group Inc. RI boosted its position in Diamondback Energy by 2.4% during the third quarter. Citizens Financial Group Inc. RI now owns 2,795 shares of the oil and natural gas company’s stock valued at $482,000 after buying an additional 65 shares during the period. Finally, Greenleaf Trust grew its position in Diamondback Energy by 1.0% during the 4th quarter. Greenleaf Trust now owns 6,892 shares of the oil and natural gas company’s stock worth $1,129,000 after acquiring an additional 66 shares during the last quarter. 90.01% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

FANG has been the subject of a number of analyst reports. Raymond James dropped their price objective on Diamondback Energy from $245.00 to $214.00 and set a “strong-buy” rating for the company in a research note on Wednesday, March 12th. Truist Financial increased their target price on shares of Diamondback Energy from $236.00 to $238.00 and gave the stock a “buy” rating in a report on Wednesday, February 19th. Royal Bank of Canada reaffirmed an “outperform” rating and set a $210.00 price target on shares of Diamondback Energy in a research report on Thursday, January 23rd. UBS Group lifted their price objective on Diamondback Energy from $212.00 to $216.00 and gave the stock a “buy” rating in a research report on Thursday, February 13th. Finally, Citigroup decreased their target price on Diamondback Energy from $195.00 to $157.00 and set a “neutral” rating for the company in a report on Monday, March 17th. Four investment analysts have rated the stock with a hold rating, eighteen have issued a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $209.92.

Insider Buying and Selling

In related news, Director Frank D. Tsuru purchased 2,000 shares of the company’s stock in a transaction dated Friday, February 28th. The shares were purchased at an average price of $156.51 per share, with a total value of $313,020.00. Following the acquisition, the director now directly owns 5,730 shares in the company, valued at $896,802.30. The trade was a 53.62 % increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.48% of the stock is owned by corporate insiders.

Diamondback Energy Stock Up 0.0 %

Shares of Diamondback Energy stock opened at $158.50 on Friday. The company has a 50-day simple moving average of $160.47 and a two-hundred day simple moving average of $170.51. Diamondback Energy, Inc. has a 52-week low of $137.09 and a 52-week high of $214.50. The company has a debt-to-equity ratio of 0.31, a quick ratio of 0.42 and a current ratio of 0.45. The stock has a market capitalization of $45.88 billion, a PE ratio of 9.07, a price-to-earnings-growth ratio of 1.24 and a beta of 1.85.

Diamondback Energy (NASDAQ:FANG) last announced 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 company had revenue of $3.71 billion during the quarter, compared to analyst estimates of $3.55 billion. Diamondback Energy had a net margin of 33.64% and a return on equity of 13.68%. On average, analysts anticipate that Diamondback Energy, Inc. will post 15.49 EPS for the current fiscal year.

Diamondback Energy Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, March 13th. Investors of record on Thursday, March 6th were given a dividend of $1.00 per share. The ex-dividend date was Thursday, March 6th. This is a boost from Diamondback Energy’s previous quarterly dividend of $0.90. This represents a $4.00 annualized dividend and a dividend yield of 2.52%. Diamondback Energy’s dividend payout ratio (DPR) is 25.32%.

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.