Diamondback Energy Inc (FANG) Stake Decreased by Keybank National Association OH
Keybank National Association OH decreased its position in shares of Diamondback Energy Inc (NASDAQ:FANG) by 3.5% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 284,930 shares of the oil and natural gas company’s stock after selling 10,384 shares during the period. Keybank National Association OH’s holdings in Diamondback Energy were worth $28,929,000 as of its most recent filing with the Securities and Exchange Commission.
Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Deroy & Devereaux Private Investment Counsel Inc. increased its holdings in shares of Diamondback Energy by 3.4% during the first quarter. Deroy & Devereaux Private Investment Counsel Inc. now owns 126,008 shares of the oil and natural gas company’s stock worth $12,794,000 after buying an additional 4,146 shares in the last quarter. RMB Capital Management LLC bought a new stake in shares of Diamondback Energy during the fourth quarter valued at approximately $2,652,000. Goelzer Investment Management Inc. grew its stake in shares of Diamondback Energy by 1.2% during the fourth quarter. Goelzer Investment Management Inc. now owns 18,866 shares of the oil and natural gas company’s stock valued at $1,749,000 after purchasing an additional 230 shares during the last quarter. Boston Advisors LLC grew its stake in shares of Diamondback Energy by 31.5% during the fourth quarter. Boston Advisors LLC now owns 3,615 shares of the oil and natural gas company’s stock valued at $335,000 after purchasing an additional 865 shares during the last quarter. Finally, Stratos Wealth Partners LTD. grew its stake in shares of Diamondback Energy by 287.8% during the fourth quarter. Stratos Wealth Partners LTD. now owns 2,796 shares of the oil and natural gas company’s stock valued at $259,000 after purchasing an additional 2,075 shares during the last quarter.
Shares of FANG stock opened at $109.66 on Tuesday. Diamondback Energy Inc has a 52-week low of $85.19 and a 52-week high of $140.78. The company has a market capitalization of $18.20 billion, a price-to-earnings ratio of 18.68, a price-to-earnings-growth ratio of 0.67 and a beta of 0.80. The company has a current ratio of 0.62, a quick ratio of 0.60 and a debt-to-equity ratio of 0.32.
The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 4th. Shareholders of record on Tuesday, May 28th will be paid a $0.188 dividend. The ex-dividend date is Friday, May 24th. This is a boost from Diamondback Energy’s previous quarterly dividend of $0.13. This represents a $0.75 dividend on an annualized basis and a yield of 0.69%. Diamondback Energy’s dividend payout ratio (DPR) is presently 8.52%.
Several research firms have recently commented on FANG. Roth Capital set a $166.00 price target on shares of Diamondback Energy and gave the company a “buy” rating in a research note on Tuesday, April 23rd. ValuEngine raised shares of Diamondback Energy from a “sell” rating to a “hold” rating in a research note on Tuesday, April 23rd. Morgan Stanley increased their price target on shares of Diamondback Energy from $152.00 to $153.00 and gave the company an “overweight” rating in a research note on Thursday, May 16th. KeyCorp increased their price target on shares of Diamondback Energy from $116.00 to $124.00 and gave the company an “overweight” rating in a research note on Monday, April 22nd. Finally, Bank of America increased their price target on shares of Diamondback Energy from $165.00 to $170.00 and gave the company a “buy” rating in a research note on Tuesday. Three analysts have rated the stock with a hold rating, twenty-five have assigned a buy rating and two have issued a strong buy rating to the company. The company currently has an average rating of “Buy” and a consensus target price of $161.04.
In other Diamondback Energy news, insider Randall J. Holder sold 4,000 shares of the stock in a transaction on Monday, March 18th. The shares were sold at an average price of $104.13, for a total value of $416,520.00. Following the sale, the insider now directly owns 14,448 shares in the company, valued at $1,504,470.24. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CFO Hof Matthew Kaes Van’t sold 1,700 shares of the stock in a transaction on Wednesday, March 13th. The stock was sold at an average price of $101.82, for a total transaction of $173,094.00. Following the completion of the sale, the chief financial officer now owns 28,965 shares in the company, valued at $2,949,216.30. The disclosure for this sale can be found here. Over the last quarter, insiders sold 6,050 shares of company stock worth $626,158. Company insiders own 0.47% of the company’s stock.
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Diamondback Energy Profile
Diamondback Energy, Inc, an independent oil and natural gas company, focuses on the acquisition, development, exploration, and exploitation of unconventional and onshore oil and natural gas reserves in the Permian Basin in West Texas. It primarily 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.
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