Diamondback Energy, Inc. (NASDAQ:FANG) Stake Boosted by First Hawaiian Bank

First Hawaiian Bank boosted its stake in shares of Diamondback Energy, Inc. (NASDAQ:FANG) by 2.0% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 12,792 shares of the oil and natural gas company’s stock after buying an additional 245 shares during the period. First Hawaiian Bank’s holdings in Diamondback Energy were worth $2,096,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of the company. Carolinas Wealth Consulting LLC raised its holdings 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 valued at $27,000 after acquiring an additional 55 shares during the period. HHM Wealth Advisors LLC purchased a new position in Diamondback Energy during the 2nd quarter worth approximately $40,000. Values First Advisors Inc. acquired a new stake in Diamondback Energy during the 3rd quarter valued at $42,000. CVA Family Office LLC lifted its holdings in shares of Diamondback Energy by 28.1% in the third quarter. CVA Family Office LLC now owns 296 shares of the oil and natural gas company’s stock valued at $51,000 after purchasing an additional 65 shares in the last quarter. Finally, Oliver Lagore Vanvalin Investment Group boosted its position in shares of Diamondback Energy by 109.7% in the second quarter. Oliver Lagore Vanvalin Investment Group now owns 260 shares of the oil and natural gas company’s stock worth $52,000 after buying an additional 136 shares during the period. 90.01% of the stock is owned by hedge funds and other institutional investors.

Diamondback Energy Trading Down 0.8 %

Shares of NASDAQ:FANG 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 company has a debt-to-equity ratio of 0.31, a quick ratio of 0.42 and a current ratio of 0.45. The company has a market cap of $49.93 billion, a P/E ratio of 9.79, a P/E/G ratio of 1.19 and a beta of 1.88. The stock’s 50-day moving average is $170.90 and its 200-day moving average is $184.21.

Diamondback Energy (NASDAQ:FANG) last issued its quarterly earnings results on Monday, November 4th. The oil and natural gas company reported $3.38 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 business had revenue of $2.65 billion during the quarter, compared to the consensus estimate of $2.43 billion. During the same period in the prior year, the firm earned $5.49 earnings per share. The business’s quarterly revenue was up 13.0% on a year-over-year basis. Equities research analysts predict that Diamondback Energy, Inc. will post 16.51 earnings per share for the current year.

Diamondback Energy Dividend Announcement

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

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on the company. Morgan Stanley increased their price objective on Diamondback Energy from $185.00 to $198.00 and gave the stock an “overweight” rating in a research note on Monday, September 16th. KeyCorp decreased their price target on shares of Diamondback Energy from $225.00 to $216.00 and set an “overweight” rating for the company in a report on Wednesday, October 16th. Royal Bank of Canada reiterated an “outperform” rating and issued a $210.00 price objective on shares of Diamondback Energy in a research note on Wednesday, November 6th. JPMorgan Chase & Co. assumed coverage on shares of Diamondback Energy in a research note on Wednesday, October 2nd. They set an “overweight” rating and a $182.00 target price for the company. Finally, The Goldman Sachs Group began coverage on shares of Diamondback Energy in a research note on Monday, December 2nd. They issued a “buy” rating and a $227.00 price target on the stock. One investment 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 stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $209.83.

Insiders Place Their Bets

In other Diamondback Energy news, Director Mark Lawrence Plaumann sold 1,150 shares of the firm’s stock in a transaction that occurred on Wednesday, November 13th. The stock was sold at an average price of $181.00, for a total value of $208,150.00. Following the completion of the sale, the director now owns 4,712 shares in the company, valued at approximately $852,872. This trade represents a 19.62 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 0.48% of the company’s stock.

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.