Rafferty Asset Management LLC increased its position in Diamondback Energy, Inc. (NASDAQ:FANG - Free Report) by 15.4% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 165,493 shares of the oil and natural gas company's stock after buying an additional 22,061 shares during the period. Rafferty Asset Management LLC owned 0.06% of Diamondback Energy worth $27,113,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Lakewood Asset Management LLC raised its holdings in shares of Diamondback Energy by 0.5% during the 4th quarter. Lakewood Asset Management LLC now owns 11,340 shares of the oil and natural gas company's stock worth $1,858,000 after acquiring an additional 60 shares in the last quarter. Magnolia Capital Advisors LLC lifted its position in Diamondback Energy by 2.0% during the fourth quarter. Magnolia Capital Advisors LLC now owns 3,247 shares of the oil and natural gas company's stock valued at $532,000 after purchasing an additional 64 shares during the last quarter. Barden Capital Management Inc. lifted its position in Diamondback Energy by 1.5% during the fourth quarter. Barden Capital Management Inc. now owns 4,380 shares of the oil and natural gas company's stock valued at $718,000 after purchasing an additional 64 shares during the last quarter. Greenleaf Trust grew its stake in shares of Diamondback Energy by 1.0% in the 4th quarter. Greenleaf Trust now owns 6,892 shares of the oil and natural gas company's stock worth $1,129,000 after buying an additional 66 shares in the last quarter. Finally, Buckhead Capital Management LLC increased its holdings in shares of Diamondback Energy by 0.3% in the 4th quarter. Buckhead Capital Management LLC now owns 19,830 shares of the oil and natural gas company's stock worth $3,249,000 after buying an additional 67 shares during the last quarter. 90.01% of the stock is owned by institutional investors.
Wall Street Analyst Weigh In
Several research firms recently commented on FANG. Susquehanna dropped their price target on Diamondback Energy from $219.00 to $194.00 and set a "positive" rating for the company in a research report on Tuesday, April 22nd. Evercore ISI initiated coverage on Diamondback Energy in a report on Tuesday, May 6th. They issued an "outperform" rating and a $165.00 target price for the company. Mizuho decreased their price target on Diamondback Energy from $186.00 to $179.00 and set an "outperform" rating on the stock in a report on Tuesday, May 13th. JPMorgan Chase & Co. lowered their price target on Diamondback Energy from $167.00 to $161.00 and set an "overweight" rating for the company in a research report on Wednesday, May 7th. Finally, Piper Sandler cut their price objective on shares of Diamondback Energy from $234.00 to $225.00 and set an "overweight" rating on the stock in a research report on Tuesday, May 13th. Two equities research analysts have rated the stock with a hold rating, nineteen have given a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat, the company has an average rating of "Buy" and an average price target of $194.09.
View Our Latest Stock Analysis on FANG
Diamondback Energy Stock Down 0.7%
Shares of FANG stock traded down $0.98 during mid-day trading on Wednesday, hitting $137.37. The stock had a trading volume of 720,913 shares, compared to its average volume of 2,134,373. Diamondback Energy, Inc. has a 12-month low of $114.00 and a 12-month high of $214.50. The company has a debt-to-equity ratio of 0.31, a current ratio of 0.45 and a quick ratio of 0.42. The firm's 50-day moving average is $140.95 and its two-hundred day moving average is $157.48. The firm has a market capitalization of $40.14 billion, a P/E ratio of 7.89, a price-to-earnings-growth ratio of 1.24 and a beta of 1.06.
Diamondback Energy (NASDAQ:FANG - Get Free Report) last issued its earnings results on Monday, May 5th. The oil and natural gas company reported $4.54 earnings per share (EPS) for the quarter, topping 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 company had revenue of $4.05 billion for the quarter, compared to analysts' expectations of $3.58 billion. During the same period in the prior year, the business earned $4.50 EPS. The firm's quarterly revenue was up 81.8% on a year-over-year basis. On average, analysts predict that Diamondback Energy, Inc. will post 15.49 earnings per share for the current fiscal year.
Diamondback Energy Dividend Announcement
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, May 22nd. Investors of record on Thursday, May 15th will be paid a $1.00 dividend. This represents a $4.00 dividend on an annualized basis and a yield of 2.91%. The ex-dividend date of this dividend is Thursday, May 15th. Diamondback Energy's dividend payout ratio (DPR) is 24.46%.
Insiders Place Their Bets
In other news, President Hof Matthew Kaes Van't sold 10,000 shares of the stock in a transaction on Monday, May 12th. The stock was sold at an average price of $142.69, for a total transaction of $1,426,900.00. Following the completion of the sale, the president now owns 120,645 shares in the company, valued at approximately $17,214,835.05. This represents a 7.65% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Frank D. Tsuru acquired 2,000 shares of the stock in a transaction dated Friday, February 28th. The stock was acquired at an average cost of $156.51 per share, with a total value of $313,020.00. Following the transaction, the director now directly owns 5,730 shares in the company, valued at approximately $896,802.30. This represents a 53.62% increase in their ownership of the stock. The disclosure for this purchase can be found here. 0.48% of the stock is owned by company insiders.
About Diamondback Energy
(
Free Report)
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.
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