American Century Companies Inc. Trims Stock Position in Diamondback Energy, Inc. (NASDAQ:FANG)

American Century Companies Inc. decreased its stake in Diamondback Energy, Inc. (NASDAQ:FANG) by 2.0% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 541,842 shares of the oil and natural gas company’s stock after selling 11,090 shares during the period. American Century Companies Inc. owned 0.19% of Diamondback Energy worth $88,770,000 at the end of the most recent reporting period.

Other hedge funds have also recently modified their holdings of the company. Wintrust Investments LLC purchased a new stake in shares of Diamondback Energy in the 4th quarter valued at about $28,000. R Squared Ltd acquired a new position in Diamondback Energy during the fourth quarter worth approximately $29,000. UMB Bank n.a. lifted its stake in Diamondback Energy by 247.3% in 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 buying an additional 136 shares during the last quarter. Key Financial Inc lifted its stake in Diamondback Energy by 940.0% in the fourth quarter. Key Financial Inc now owns 208 shares of the oil and natural gas company’s stock valued at $34,000 after buying an additional 188 shares during the last quarter. Finally, Rakuten Securities Inc. boosted its holdings in shares of Diamondback Energy by 62.4% in the fourth quarter. Rakuten Securities Inc. now owns 276 shares of the oil and natural gas company’s stock valued at $45,000 after acquiring an additional 106 shares during the period. 90.01% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Diamondback Energy

In related news, Director Frank D. Tsuru bought 2,000 shares of Diamondback Energy stock in a transaction that occurred on 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 purchase, the director now owns 5,730 shares in the company, valued at $896,802.30. This represents a 53.62 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Corporate insiders own 0.48% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms recently commented on FANG. Citigroup reduced their price target on shares of Diamondback Energy from $195.00 to $157.00 and set a “neutral” rating for the company in a research report on Monday, March 17th. Wells Fargo & Company decreased their target price on shares of Diamondback Energy from $219.00 to $215.00 and set an “overweight” rating for the company in a research note on Wednesday, March 12th. Barclays dropped their price target on Diamondback Energy from $210.00 to $200.00 and set an “overweight” rating on the stock in a research report on Tuesday, March 18th. Piper Sandler reduced their price objective on Diamondback Energy from $252.00 to $232.00 and set an “overweight” rating for the company in a research note on Tuesday, December 17th. Finally, Mizuho lifted their target price on Diamondback Energy from $201.00 to $204.00 and gave the company an “outperform” rating in a research note on Tuesday, February 25th. Four research analysts have rated the stock with a hold rating, eighteen have given a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat, Diamondback Energy presently has an average rating of “Moderate Buy” and a consensus target price of $209.92.

Diamondback Energy Stock Performance

NASDAQ FANG opened at $161.01 on Tuesday. The business has a 50 day moving average price of $160.14 and a 200 day moving average price of $170.13. The company has a debt-to-equity ratio of 0.31, a current ratio of 0.45 and a quick ratio of 0.42. The company has a market capitalization of $46.60 billion, a P/E ratio of 9.22, a PEG ratio of 1.24 and a beta of 1.85. Diamondback Energy, Inc. has a 1-year low of $137.09 and a 1-year high of $214.50.

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

Diamondback Energy Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, March 13th. Shareholders of record on Thursday, March 6th were issued a $1.00 dividend. This represents a $4.00 annualized dividend and a dividend yield of 2.48%. The ex-dividend date of this dividend was Thursday, March 6th. This is an increase from Diamondback Energy’s previous quarterly dividend of $0.90. Diamondback Energy’s dividend payout ratio is 25.32%.

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.