Cullen Frost Bankers Inc. Purchases 5,542 Shares of Diamondback Energy, Inc. $FANG

Cullen Frost Bankers Inc. boosted its holdings in shares of Diamondback Energy, Inc. (NASDAQ:FANG) by 5.1% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 113,509 shares of the oil and natural gas company’s stock after purchasing an additional 5,542 shares during the period. Cullen Frost Bankers Inc.’s holdings in Diamondback Energy were worth $16,243,000 at the end of the most recent quarter.

A number of other large investors have also recently modified their holdings of the business. Uhlmann Price Securities LLC lifted its position in shares of Diamondback Energy by 1.3% during the 2nd quarter. Uhlmann Price Securities LLC now owns 5,090 shares of the oil and natural gas company’s stock worth $699,000 after buying an additional 67 shares during the last quarter. Viawealth LLC raised its stake in Diamondback Energy by 5.0% during the second quarter. Viawealth LLC now owns 1,753 shares of the oil and natural gas company’s stock worth $241,000 after acquiring an additional 83 shares in the last quarter. STF Management LP lifted its holdings in shares of Diamondback Energy by 1.9% in the second quarter. STF Management LP now owns 4,490 shares of the oil and natural gas company’s stock worth $617,000 after acquiring an additional 84 shares during the last quarter. Lodestone Wealth Management LLC lifted its holdings in shares of Diamondback Energy by 1.2% in the third quarter. Lodestone Wealth Management LLC now owns 7,219 shares of the oil and natural gas company’s stock worth $1,033,000 after acquiring an additional 84 shares during the last quarter. Finally, Fullcircle Wealth LLC boosted its stake in shares of Diamondback Energy by 3.7% in the 2nd quarter. Fullcircle Wealth LLC now owns 2,385 shares of the oil and natural gas company’s stock valued at $352,000 after purchasing an additional 85 shares in the last quarter. Institutional investors and hedge funds own 90.01% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts recently issued reports on the stock. Morgan Stanley lowered their price objective on shares of Diamondback Energy from $183.00 to $171.00 and set an “overweight” rating for the company in a research report on Friday. Wells Fargo & Company upped their price target on shares of Diamondback Energy from $160.00 to $169.00 and gave the stock an “overweight” rating in a report on Monday, November 17th. Wall Street Zen downgraded Diamondback Energy from a “hold” rating to a “sell” rating in a report on Saturday, December 27th. Scotiabank set a $175.00 target price on Diamondback Energy in a report on Friday, January 16th. Finally, Mizuho dropped their target price on Diamondback Energy from $195.00 to $194.00 and set an “outperform” rating for the company in a research report on Thursday. One analyst has rated the stock with a Strong Buy rating, nineteen have given a Buy rating and two have given a Hold rating to the company. According to data from MarketBeat, Diamondback Energy currently has an average rating of “Moderate Buy” and an average target price of $185.67.

Diamondback Energy Trading Up 1.4%

Shares of FANG stock opened at $154.02 on Friday. Diamondback Energy, Inc. has a 1-year low of $114.00 and a 1-year high of $177.69. The company has a current ratio of 0.62, a quick ratio of 0.60 and a debt-to-equity ratio of 0.35. The stock has a market cap of $44.11 billion, a price-to-earnings ratio of 10.70 and a beta of 0.59. The stock has a 50-day moving average of $150.90 and a 200-day moving average of $145.69.

Diamondback Energy (NASDAQ:FANG) last posted its quarterly earnings data on Monday, November 3rd. The oil and natural gas company reported $3.08 EPS for the quarter, topping analysts’ consensus estimates of $2.94 by $0.14. The company had revenue of $3.92 billion for the quarter, compared to analyst estimates of $3.48 billion. Diamondback Energy had a return on equity of 9.57% and a net margin of 27.32%.The firm’s quarterly revenue was up 48.4% on a year-over-year basis. During the same period in the previous year, the firm earned $3.19 earnings per share. On average, equities research analysts forecast that Diamondback Energy, Inc. will post 15.49 earnings per share for the current year.

Diamondback Energy Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, November 20th. Stockholders of record on Thursday, November 13th were given a dividend of $1.00 per share. The ex-dividend date was Thursday, November 13th. This represents a $4.00 annualized dividend and a dividend yield of 2.6%. Diamondback Energy’s dividend payout ratio is 27.80%.

Insider Buying and Selling at Diamondback Energy

In related news, Director Charles Alvin Meloy sold 377,911 shares of Diamondback Energy stock in a transaction on Thursday, December 4th. The shares were sold at an average price of $138.61, for a total transaction of $52,382,243.71. Following the completion of the transaction, the director owned 1,044,864 shares of the company’s stock, valued at $144,828,599.04. This trade represents a 26.56% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 0.70% of the stock is currently owned by company insiders.

Diamondback Energy Profile

Diamondback Energy, Inc (NASDAQ: FANG) is an independent oil and natural gas company focused on the development, exploration and production of unconventional resources in the Permian Basin. Headquartered in Midland, Texas, the company concentrates its operations in the core Midland and Delaware sub‑basins of West Texas and southeastern New Mexico, where it pursues contiguous acreage positions to support repeatable drilling programs.

Diamondback’s activities span the upstream value chain, including leasehold acquisition, well planning, drilling, completion and production optimization.