Charles Schwab Investment Management Inc. Purchases 33,897 Shares of Diamondback Energy, Inc. (NASDAQ:FANG)

Charles Schwab Investment Management Inc. increased its position in shares of Diamondback Energy, Inc. (NASDAQ:FANG) by 3.4% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 1,038,862 shares of the oil and natural gas company’s stock after buying an additional 33,897 shares during the period. Charles Schwab Investment Management Inc.’s holdings in Diamondback Energy were worth $161,107,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also bought and sold shares of the company. Brown Advisory Inc. bought a new stake in shares of Diamondback Energy during the 3rd quarter valued at about $215,000. Zurcher Kantonalbank Zurich Cantonalbank grew its position in shares of Diamondback Energy by 25.0% during the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 33,633 shares of the oil and natural gas company’s stock worth $5,209,000 after buying an additional 6,732 shares during the period. Mirae Asset Global Investments Co. Ltd. grew its position in shares of Diamondback Energy by 18.8% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 180,022 shares of the oil and natural gas company’s stock worth $27,882,000 after buying an additional 28,507 shares during the period. Advisor Partners II LLC increased its stake in shares of Diamondback Energy by 1.8% in the 3rd quarter. Advisor Partners II LLC now owns 9,407 shares of the oil and natural gas company’s stock valued at $1,457,000 after acquiring an additional 162 shares in the last quarter. Finally, Park Avenue Securities LLC bought a new position in Diamondback Energy during the third quarter worth $628,000. Institutional investors and hedge funds own 90.01% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have weighed in on the stock. Royal Bank of Canada lifted their price target on shares of Diamondback Energy from $195.00 to $220.00 and gave the company an “outperform” rating in a research note on Monday. Truist Financial boosted their target price on Diamondback Energy from $248.00 to $250.00 and gave the company a “buy” rating in a research report on Monday, April 22nd. Barclays initiated coverage on Diamondback Energy in a report on Wednesday, April 10th. They issued an “equal weight” rating and a $214.00 price target on the stock. Piper Sandler boosted their price objective on Diamondback Energy from $227.00 to $247.00 and gave the company an “overweight” rating in a report on Friday, April 19th. Finally, Raymond James cut their target price on Diamondback Energy from $190.00 to $185.00 and set a “strong-buy” rating on the stock in a report on Wednesday, January 24th. One analyst has rated the stock with a sell rating, four have issued a hold rating, fourteen have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, Diamondback Energy presently has a consensus rating of “Moderate Buy” and a consensus price target of $205.68.

Diamondback Energy Price Performance

Shares of NASDAQ FANG opened at $203.72 on Friday. The company has a quick ratio of 0.89, a current ratio of 0.92 and a debt-to-equity ratio of 0.37. The company has a market capitalization of $36.33 billion, a PE ratio of 11.48 and a beta of 1.91. The stock’s 50 day moving average price is $197.44 and its 200-day moving average price is $171.79. Diamondback Energy, Inc. has a twelve month low of $123.41 and a twelve month high of $211.96.

Diamondback Energy (NASDAQ:FANG) last announced its quarterly earnings data on Tuesday, April 30th. The oil and natural gas company reported $4.50 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $4.29 by $0.21. The firm had revenue of $2.23 billion during the quarter, compared to the consensus estimate of $2.10 billion. Diamondback Energy had a return on equity of 19.36% and a net margin of 36.71%. The business’s revenue for the quarter was up 15.7% on a year-over-year basis. During the same quarter in the prior year, the company earned $4.10 EPS. On average, equities analysts anticipate that Diamondback Energy, Inc. will post 18.91 EPS for the current year.

Diamondback Energy Cuts Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, May 22nd. Stockholders of record on Wednesday, May 15th will be paid a dividend of $0.90 per share. The ex-dividend date of this dividend is Tuesday, May 14th. This represents a $3.60 annualized dividend and a dividend yield of 1.77%. Diamondback Energy’s payout ratio is currently 20.29%.

Insider Activity at Diamondback Energy

In other Diamondback Energy news, VP Jere W. Thompson III sold 2,675 shares of the business’s stock in a transaction on Tuesday, March 19th. The stock was sold at an average price of $192.35, for a total value of $514,536.25. Following the sale, the vice president now directly owns 8,485 shares in the company, valued at $1,632,089.75. The sale was disclosed in a filing with the SEC, which is accessible through this link. In related news, CFO Hof Matthew Kaes Van’t sold 12,000 shares of Diamondback Energy stock in a transaction that occurred on Wednesday, March 20th. The shares were sold at an average price of $190.82, for a total value of $2,289,840.00. Following the completion of the transaction, the chief financial officer now directly owns 185,882 shares in the company, valued at approximately $35,470,003.24. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, VP Jere W. Thompson III sold 2,675 shares of the stock in a transaction on Tuesday, March 19th. The stock was sold at an average price of $192.35, for a total value of $514,536.25. Following the sale, the vice president now owns 8,485 shares in the company, valued at approximately $1,632,089.75. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 58,575 shares of company stock worth $11,491,006. Insiders own 0.43% of the company’s stock.

Diamondback Energy 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.