First Hawaiian Bank Increases Position in Diamondback Energy, Inc. (NASDAQ:FANG)

First Hawaiian Bank increased its holdings in Diamondback Energy, Inc. (NASDAQ:FANG) by 2.0% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 12,792 shares of the oil and natural gas company’s stock after acquiring an additional 245 shares during the quarter. First Hawaiian Bank’s holdings in Diamondback Energy were worth $2,096,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also recently bought and sold shares of FANG. Private Advisor Group LLC grew its position in shares of Diamondback Energy by 15.9% during the second quarter. Private Advisor Group LLC now owns 22,012 shares of the oil and natural gas company’s stock worth $4,407,000 after buying an additional 3,025 shares in the last quarter. Savant Capital LLC grew its holdings in Diamondback Energy by 111.2% during the 2nd quarter. Savant Capital LLC now owns 6,407 shares of the oil and natural gas company’s stock worth $1,283,000 after acquiring an additional 3,373 shares in the last quarter. Ballentine Partners LLC increased its position in shares of Diamondback Energy by 5.6% in the 2nd quarter. Ballentine Partners LLC now owns 1,557 shares of the oil and natural gas company’s stock worth $312,000 after purchasing an additional 83 shares during the last quarter. Quest Partners LLC increased its position in shares of Diamondback Energy by 252,400.0% in the 2nd quarter. Quest Partners LLC now owns 5,050 shares of the oil and natural gas company’s stock worth $1,011,000 after purchasing an additional 5,048 shares during the last quarter. Finally, Choreo LLC bought a new position in shares of Diamondback Energy during the second quarter worth about $1,264,000. Hedge funds and other institutional investors own 90.01% of the company’s stock.

Insider Activity at Diamondback Energy

In related news, Director Mark Lawrence Plaumann sold 1,150 shares of the stock in a transaction that occurred on Wednesday, November 13th. The shares were sold at an average price of $181.00, for a total transaction of $208,150.00. Following the completion of the sale, the director now directly owns 4,712 shares of the company’s stock, valued at $852,872. This represents a 19.62 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 0.48% of the company’s stock.

Analysts Set New Price Targets

Several analysts recently weighed in on FANG shares. UBS Group lowered their price objective on Diamondback Energy from $235.00 to $212.00 and set a “buy” rating for the company in a report on Monday, December 9th. StockNews.com raised Diamondback Energy from a “sell” rating to a “hold” rating in a research report on Wednesday, November 13th. The Goldman Sachs Group assumed coverage on shares of Diamondback Energy in a report on Monday, December 2nd. They issued a “buy” rating and a $227.00 price objective for the company. Royal Bank of Canada reissued an “outperform” rating and set a $210.00 target price on shares of Diamondback Energy in a report on Wednesday, November 6th. Finally, Jefferies Financial Group started coverage on shares of Diamondback Energy in a report on Monday, September 16th. They issued a “hold” rating and a $185.00 price target for the company. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating, eighteen have given a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat.com, Diamondback Energy currently has a consensus rating of “Moderate Buy” and a consensus target price of $209.83.

Diamondback Energy Stock Down 0.8 %

Diamondback Energy stock opened at $170.99 on Thursday. Diamondback Energy, Inc. has a 52 week low of $147.93 and a 52 week high of $214.50. The stock has a market cap of $49.93 billion, a price-to-earnings ratio of 9.79, a PEG ratio of 1.19 and a beta of 1.88. The company’s 50-day moving average price is $170.90 and its two-hundred day moving average price is $184.21. The company has a current ratio of 0.45, a quick ratio of 0.42 and a debt-to-equity ratio of 0.31.

Diamondback Energy (NASDAQ:FANG) last posted its quarterly earnings data on Monday, November 4th. The oil and natural gas company reported $3.38 EPS for the quarter, missing analysts’ consensus estimates of $4.62 by ($1.24). The company had revenue of $2.65 billion for the quarter, compared to analyst estimates of $2.43 billion. Diamondback Energy had a net margin of 33.64% and a return on equity of 13.68%. Diamondback Energy’s revenue was up 13.0% compared to the same quarter last year. During the same quarter in the prior year, the business earned $5.49 EPS. On average, analysts expect that Diamondback Energy, Inc. will post 16.51 EPS for the current fiscal year.

Diamondback Energy Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, November 21st. Stockholders of record on Thursday, November 14th were issued a $0.90 dividend. The ex-dividend date of this dividend was Thursday, November 14th. This represents a $3.60 annualized dividend and a dividend yield of 2.11%. Diamondback Energy’s dividend payout ratio (DPR) is 20.61%.

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.