Alyeska Investment Group L.P. Acquires New Holdings in Diamondback Energy, Inc. (NASDAQ:FANG)

Alyeska Investment Group L.P. acquired a new position in Diamondback Energy, Inc. (NASDAQ:FANG - Free Report) in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 1,130,397 shares of the oil and natural gas company's stock, valued at approximately $185,193,000. Diamondback Energy accounts for approximately 0.7% of Alyeska Investment Group L.P.'s investment portfolio, making the stock its 22nd biggest position. Alyeska Investment Group L.P. owned approximately 0.39% of Diamondback Energy at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of FANG. Demars Financial Group LLC bought a new stake in Diamondback Energy in the fourth quarter valued at $638,050,000. Raymond James Financial Inc. acquired a new stake in shares of Diamondback Energy in the 4th quarter worth about $298,327,000. Assenagon Asset Management S.A. boosted its stake in Diamondback Energy by 1,153.0% during the 4th quarter. Assenagon Asset Management S.A. now owns 1,132,918 shares of the oil and natural gas company's stock valued at $185,606,000 after purchasing an additional 1,042,505 shares during the period. Price T Rowe Associates Inc. MD grew its position in Diamondback Energy by 11.3% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 9,136,645 shares of the oil and natural gas company's stock worth $1,496,859,000 after purchasing an additional 928,429 shares during the last quarter. Finally, Diamond Hill Capital Management Inc. increased its stake in shares of Diamondback Energy by 30.5% in the fourth quarter. Diamond Hill Capital Management Inc. now owns 2,817,554 shares of the oil and natural gas company's stock valued at $461,600,000 after purchasing an additional 658,644 shares during the period. Institutional investors own 90.01% of the company's stock.

Diamondback Energy Stock Down 0.8 %

Shares of FANG stock traded down $1.10 during trading on Tuesday, hitting $131.98. 3,775,477 shares of the company were exchanged, compared to its average volume of 2,109,929. The business's 50-day simple moving average is $142.50 and its 200 day simple moving average is $160.43. Diamondback Energy, Inc. has a twelve month low of $114.00 and a twelve month high of $214.50. The firm has a market capitalization of $38.81 billion, a price-to-earnings ratio of 7.55, a P/E/G ratio of 1.24 and a beta of 1.06. The company has a debt-to-equity ratio of 0.31, a quick ratio of 0.42 and a current ratio of 0.45.

Diamondback Energy (NASDAQ:FANG - Get Free Report) last posted its quarterly earnings results on Monday, May 5th. The oil and natural gas company reported $4.54 EPS for the quarter, beating the consensus estimate of $3.67 by $0.87. Diamondback Energy had a net margin of 33.64% and a return on equity of 13.68%. The business had revenue of $4.05 billion for the quarter, compared to analysts' expectations of $3.58 billion. During the same period in the previous year, the company posted $4.50 EPS. Diamondback Energy's revenue was up 81.8% on a year-over-year basis. As a group, analysts forecast that Diamondback Energy, Inc. will post 15.49 EPS for the current fiscal year.

Diamondback Energy Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, May 22nd. Stockholders of record on Thursday, May 15th will be paid a dividend of $1.00 per share. This represents a $4.00 dividend on an annualized basis and a dividend yield of 3.03%. The ex-dividend date is Thursday, May 15th. Diamondback Energy's dividend payout ratio (DPR) is presently 25.32%.

Insider Activity

In other Diamondback Energy news, Director Frank D. Tsuru acquired 2,000 shares of the business's stock in a transaction that occurred on Friday, February 28th. The shares were purchased at an average price of $156.51 per share, with a total value of $313,020.00. Following the completion of the transaction, the director now owns 5,730 shares in the company, valued at $896,802.30. The trade was a 53.62 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 0.70% of the stock is owned by corporate insiders.

Analyst Ratings Changes

FANG has been the subject of a number of recent analyst reports. Piper Sandler decreased their price objective on Diamondback Energy from $240.00 to $234.00 and set an "overweight" rating for the company in a report on Tuesday, April 22nd. JPMorgan Chase & Co. lowered their price target on Diamondback Energy from $167.00 to $166.00 and set an "overweight" rating on the stock in a report on Thursday, April 10th. Raymond James decreased their target price on shares of Diamondback Energy from $245.00 to $214.00 and set a "strong-buy" rating for the company in a research report on Wednesday, March 12th. UBS Group dropped their price target on shares of Diamondback Energy from $175.00 to $163.00 and set a "buy" rating on the stock in a research report on Thursday, April 17th. Finally, Barclays decreased their price objective on shares of Diamondback Energy from $200.00 to $185.00 and set an "overweight" rating for the company in a report on Wednesday, April 23rd. Two analysts have rated the stock with a hold rating, nineteen have assigned a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat.com, Diamondback Energy presently has an average rating of "Buy" and an average target price of $195.78.

About Diamondback Energy

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.