AlTi Global Inc. Increases Position in Diamondback Energy, Inc. (NASDAQ:FANG)

AlTi Global Inc. raised its holdings in shares of Diamondback Energy, Inc. (NASDAQ:FANG - Free Report) by 313.1% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 47,492 shares of the oil and natural gas company's stock after buying an additional 35,996 shares during the quarter. AlTi Global Inc.'s holdings in Diamondback Energy were worth $8,157,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also added to or reduced their stakes in the business. Alaethes Wealth LLC boosted its holdings in shares of Diamondback Energy by 1.5% in the 4th quarter. Alaethes Wealth LLC now owns 8,899 shares of the oil and natural gas company's stock worth $1,458,000 after purchasing an additional 134 shares in the last quarter. 4WEALTH Advisors Inc. bought a new position in Diamondback Energy during the fourth quarter valued at approximately $366,000. Wahed Invest LLC raised its stake in shares of Diamondback Energy by 3.3% during the fourth quarter. Wahed Invest LLC now owns 4,722 shares of the oil and natural gas company's stock worth $774,000 after acquiring an additional 150 shares in the last quarter. Rehmann Capital Advisory Group lifted its holdings in shares of Diamondback Energy by 6.0% in the 4th quarter. Rehmann Capital Advisory Group now owns 1,439 shares of the oil and natural gas company's stock worth $236,000 after acquiring an additional 82 shares during the last quarter. Finally, Utah Retirement Systems boosted its stake in shares of Diamondback Energy by 4.7% in the 4th quarter. Utah Retirement Systems now owns 31,344 shares of the oil and natural gas company's stock valued at $5,135,000 after purchasing an additional 1,400 shares in the last quarter. 90.01% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

FANG has been the subject of several recent research reports. Williams Trading set a $190.00 price target on shares of Diamondback Energy in a research note on Wednesday, March 5th. UBS Group lowered their target price on Diamondback Energy from $175.00 to $163.00 and set a "buy" rating for the company in a research note on Thursday, April 17th. Bank of America upgraded Diamondback Energy from a "neutral" rating to a "buy" rating and reduced their price target for the stock from $202.00 to $170.00 in a research report on Tuesday, April 29th. Truist Financial boosted their price objective on Diamondback Energy from $238.00 to $242.00 and gave the company a "buy" rating in a research report on Thursday, April 17th. Finally, Barclays dropped their price target on shares of Diamondback Energy from $200.00 to $185.00 and set an "overweight" rating for the company in a research report on Wednesday, April 23rd. Two equities research analysts have rated the stock with a hold rating, nineteen have assigned a buy rating and two have issued a strong buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of "Buy" and a consensus price target of $197.70.

Diamondback Energy Stock Performance

FANG traded down $3.73 during midday trading on Monday, hitting $133.08. 2,864,830 shares of the company traded hands, compared to its average volume of 2,101,975. The company's 50-day moving average is $142.50 and its 200 day moving average is $160.43. The company has a quick ratio of 0.42, a current ratio of 0.45 and a debt-to-equity ratio of 0.31. The firm has a market capitalization of $39.14 billion, a PE ratio of 7.62, a price-to-earnings-growth ratio of 1.24 and a beta of 1.44. Diamondback Energy, Inc. has a 52 week low of $114.00 and a 52 week high of $214.50.

Diamondback Energy (NASDAQ:FANG - Get Free Report) last issued its quarterly earnings data on Monday, May 5th. The oil and natural gas company reported $4.54 earnings per share for the quarter, beating analysts' consensus estimates of $3.67 by $0.87. Diamondback Energy had a net margin of 33.64% and a return on equity of 13.68%. During the same quarter in the prior year, the business earned $4.50 EPS. The company's revenue was up 81.8% compared to the same quarter last year. On average, research analysts expect that Diamondback Energy, Inc. will post 15.49 EPS for the current year.

Diamondback Energy Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, May 22nd. Investors of record on Thursday, May 15th will be given a dividend of $1.00 per share. This represents a $4.00 dividend on an annualized basis and a yield of 3.01%. Diamondback Energy's dividend payout ratio (DPR) is presently 25.32%.

Insider Buying and Selling at Diamondback Energy

In other Diamondback Energy news, Director Frank D. Tsuru acquired 2,000 shares of the company's stock in a transaction that occurred on Friday, February 28th. The shares were bought at an average price of $156.51 per share, with a total value of $313,020.00. Following the completion of the acquisition, the director now owns 5,730 shares in the company, valued at $896,802.30. This represents a 53.62 % increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.70% of the stock is owned by corporate insiders.

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.