Parkside Financial Bank & Trust Grows Position in Diamondback Energy, Inc. (NASDAQ:FANG)

Parkside Financial Bank & Trust increased its position in shares of Diamondback Energy, Inc. (NASDAQ:FANG) by 24.7% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 1,525 shares of the oil and natural gas company’s stock after purchasing an additional 302 shares during the period. Parkside Financial Bank & Trust’s holdings in Diamondback Energy were worth $250,000 at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. Assenagon Asset Management S.A. lifted its holdings in Diamondback Energy by 1,153.0% during the 4th quarter. Assenagon Asset Management S.A. now owns 1,132,918 shares of the oil and natural gas company’s stock valued at $185,606,000 after buying an additional 1,042,505 shares in the last quarter. Zimmer Partners LP bought a new stake in shares of Diamondback Energy in the 3rd quarter valued at about $87,924,000. Bank of New York Mellon Corp raised its holdings in shares of Diamondback Energy by 13.7% in the 4th 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 in the last quarter. Holocene Advisors LP raised its holdings in shares of Diamondback Energy by 95.3% in the 3rd quarter. Holocene Advisors LP now owns 938,474 shares of the oil and natural gas company’s stock valued at $161,793,000 after purchasing an additional 457,896 shares in the last quarter. Finally, Diamond Hill Capital Management Inc. raised its holdings in shares of Diamondback Energy by 25.6% in the 3rd quarter. Diamond Hill Capital Management Inc. now owns 2,158,910 shares of the oil and natural gas company’s stock valued at $372,196,000 after purchasing an additional 439,579 shares in the last quarter. 90.01% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

FANG has been the subject of several recent research reports. Raymond James boosted their price target on shares of Diamondback Energy from $237.00 to $256.00 and gave the company a “strong-buy” rating in a report on Thursday, January 23rd. The Goldman Sachs Group initiated coverage on shares of Diamondback Energy in a report on Monday, December 2nd. They issued a “buy” rating and a $227.00 price target for the company. Wolfe Research upgraded shares of Diamondback Energy from a “peer perform” rating to an “outperform” rating and set a $190.00 price target for the company in a report on Friday, January 3rd. Mizuho boosted their price target on shares of Diamondback Energy from $201.00 to $204.00 and gave the company an “outperform” rating in a report on Tuesday, February 25th. Finally, Royal Bank of Canada restated an “outperform” rating and issued a $210.00 price target on shares of Diamondback Energy in a report on Thursday, January 23rd. Four investment analysts have rated the stock with a hold rating, eighteen have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, Diamondback Energy presently has a consensus rating of “Moderate Buy” and an average price target of $216.09.

Diamondback Energy Stock Up 2.2 %

NASDAQ:FANG opened at $158.96 on Friday. The company has a market cap of $46.41 billion, a PE ratio of 9.10, a P/E/G ratio of 1.24 and a beta of 1.86. Diamondback Energy, Inc. has a twelve month low of $151.00 and a twelve month high of $214.50. 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 $165.42 and its two-hundred day moving average is $175.19.

Diamondback Energy (NASDAQ:FANG) last released its earnings results on Tuesday, February 25th. The oil and natural gas company reported $3.64 earnings per share for the quarter, topping the consensus estimate 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 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 disclosed a quarterly dividend, which will be paid on Thursday, March 13th. Stockholders of record on Thursday, March 6th will be issued a $1.00 dividend. This is an increase from Diamondback Energy’s previous quarterly dividend of $0.90. This represents a $4.00 annualized dividend and a dividend yield of 2.52%. The ex-dividend date of this dividend is Thursday, March 6th. 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.