Czech National Bank Raises Stake in Diamondback Energy, Inc. (NASDAQ:FANG)

Czech National Bank increased its stake in Diamondback Energy, Inc. (NASDAQ:FANG) by 6.2% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 40,518 shares of the oil and natural gas company’s stock after buying an additional 2,352 shares during the period. Czech National Bank’s holdings in Diamondback Energy were worth $6,638,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Carolinas Wealth Consulting LLC increased its position in shares of Diamondback Energy by 67.1% during the second quarter. Carolinas Wealth Consulting LLC now owns 137 shares of the oil and natural gas company’s stock worth $27,000 after acquiring an additional 55 shares during the period. Values First Advisors Inc. bought a new position in Diamondback Energy in the third quarter worth approximately $42,000. CVA Family Office LLC increased its holdings in Diamondback Energy by 28.1% during the 3rd quarter. CVA Family Office LLC now owns 296 shares of the oil and natural gas company’s stock worth $51,000 after purchasing an additional 65 shares during the period. Oliver Lagore Vanvalin Investment Group raised its position in Diamondback Energy by 109.7% during the 2nd quarter. Oliver Lagore Vanvalin Investment Group now owns 260 shares of the oil and natural gas company’s stock valued at $52,000 after purchasing an additional 136 shares in the last quarter. Finally, Ashton Thomas Securities LLC purchased a new stake in shares of Diamondback Energy in the 3rd quarter worth $52,000. Institutional investors own 90.01% of the company’s stock.

Insider Activity

In other news, Director Mark Lawrence Plaumann sold 1,150 shares of the company’s stock in a transaction dated Wednesday, November 13th. The stock was sold at an average price of $181.00, for a total value of $208,150.00. Following the sale, the director now owns 4,712 shares in the company, valued at $852,872. This represents a 19.62 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 0.48% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on the company. Evercore ISI decreased their price objective on Diamondback Energy from $235.00 to $209.00 and set an “outperform” rating for the company in a report on Monday, September 30th. Piper Sandler reduced their price target on shares of Diamondback Energy from $252.00 to $232.00 and set an “overweight” rating for the company in a report on Tuesday, December 17th. Raymond James increased their price objective on shares of Diamondback Energy from $232.00 to $237.00 and gave the company a “strong-buy” rating in a research note on Tuesday, November 19th. Wolfe Research upgraded Diamondback Energy from a “peer perform” rating to an “outperform” rating and set a $190.00 target price for the company in a report on Friday, January 3rd. Finally, The Goldman Sachs Group began coverage on Diamondback Energy in a report on Monday, December 2nd. They issued a “buy” rating and a $227.00 price target on the stock. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating, eighteen have given a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $210.08.

Diamondback Energy Price Performance

NASDAQ FANG opened at $177.68 on Wednesday. The stock’s fifty day moving average price is $170.76 and its 200 day moving average price is $183.46. Diamondback Energy, Inc. has a 1 year low of $147.93 and a 1 year high of $214.50. 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 cap of $51.88 billion, a price-to-earnings ratio of 10.17, a PEG ratio of 1.19 and a beta of 1.88.

Diamondback Energy (NASDAQ:FANG) last announced its quarterly earnings data on Monday, November 4th. The oil and natural gas company reported $3.38 earnings per share (EPS) for the quarter, missing the consensus estimate of $4.62 by ($1.24). Diamondback Energy had a return on equity of 13.68% and a net margin of 33.64%. The firm had revenue of $2.65 billion during the quarter, compared to analysts’ expectations of $2.43 billion. During the same quarter in the previous year, the business earned $5.49 earnings per share. The company’s revenue for the quarter was up 13.0% compared to the same quarter last year. As a group, equities research analysts forecast that Diamondback Energy, Inc. will post 16.51 earnings per share for the current year.

Diamondback Energy Dividend Announcement

The firm 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. This represents a $3.60 annualized dividend and a dividend yield of 2.03%. The ex-dividend date was Thursday, November 14th. Diamondback Energy’s dividend payout ratio (DPR) is currently 20.61%.

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.