5,000 Shares in Diamondback Energy, Inc. (NASDAQ:FANG) Bought by American Assets Inc.

Key Points

• American Assets Inc. invested approximately $799,000 in Diamondback Energy by acquiring 5,000 shares, making it the firm's 17th largest investment.
• Institutional investors own 90.01% of Diamondback Energy, with significant purchases from firms like Demars Financial Group and Price T Rowe Associates in the last quarter.
• Diamondback Energy recently announced a quarterly dividend of $1.00 per share, resulting in a 2.7% yield for shareholders.

American Assets Inc. acquired a new stake in shares of Diamondback Energy, Inc. (NASDAQ:FANG - Free Report) in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 5,000 shares of the oil and natural gas company's stock, valued at approximately $799,000. Diamondback Energy comprises 0.3% of American Assets Inc.'s investment portfolio, making the stock its 17th biggest holding.

A number of other institutional investors and hedge funds have also made changes to their positions in FANG. Cary Street Partners Financial LLC grew its position in Diamondback Energy by 36.3% in the first quarter. Cary Street Partners Financial LLC now owns 458 shares of the oil and natural gas company's stock worth $73,000 after acquiring an additional 122 shares in the last quarter. Westfield Capital Management Co. LP lifted its stake in shares of Diamondback Energy by 16.5% in the 1st quarter. Westfield Capital Management Co. LP now owns 344,596 shares of the oil and natural gas company's stock valued at $55,094,000 after purchasing an additional 48,710 shares during the last quarter. Blair William & Co. IL boosted its holdings in shares of Diamondback Energy by 9.8% in the 1st quarter. Blair William & Co. IL now owns 4,280 shares of the oil and natural gas company's stock worth $684,000 after purchasing an additional 382 shares during the period. Argent Trust Co increased its position in shares of Diamondback Energy by 39.8% during the 1st quarter. Argent Trust Co now owns 12,420 shares of the oil and natural gas company's stock valued at $1,986,000 after purchasing an additional 3,538 shares during the last quarter. Finally, Klein Pavlis & Peasley Financial Inc. increased its position in shares of Diamondback Energy by 31.6% during the 1st quarter. Klein Pavlis & Peasley Financial Inc. now owns 1,958 shares of the oil and natural gas company's stock valued at $315,000 after purchasing an additional 470 shares during the last quarter. 90.01% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several analysts recently weighed in on the company. UBS Group decreased their price target on Diamondback Energy from $175.00 to $163.00 and set a "buy" rating on the stock in a report on Thursday, April 17th. KeyCorp lowered their target price on shares of Diamondback Energy from $216.00 to $180.00 and set an "overweight" rating for the company in a report on Monday, April 21st. Barclays cut their price target on shares of Diamondback Energy from $200.00 to $185.00 and set an "overweight" rating on the stock in a report on Wednesday, April 23rd. Evercore ISI began coverage on shares of Diamondback Energy in a research note on Tuesday, May 6th. They issued an "outperform" rating and a $165.00 price objective for the company. Finally, Truist Financial raised their price target on Diamondback Energy from $238.00 to $242.00 and gave the stock a "buy" rating in a research note on Thursday, April 17th. Two research analysts have rated the stock with a hold rating, eighteen have given a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat.com, Diamondback Energy has an average rating of "Buy" and an average price target of $191.59.

Diamondback Energy Stock Down 2.2%

NASDAQ:FANG traded down $3.24 during trading hours on Thursday, reaching $141.12. The company's stock had a trading volume of 2,202,593 shares, compared to its average volume of 2,020,463. The stock has a 50 day moving average price of $143.53 and a two-hundred day moving average price of $146.18. The company has a debt-to-equity ratio of 0.35, a quick ratio of 0.83 and a current ratio of 0.55. The company has a market capitalization of $41.23 billion, a P/E ratio of 10.03 and a beta of 1.09. Diamondback Energy, Inc. has a 12 month low of $114.00 and a 12 month high of $202.87.

Diamondback Energy (NASDAQ:FANG - Get Free Report) last released its quarterly earnings results on Monday, August 4th. The oil and natural gas company reported $2.67 EPS for the quarter, missing the consensus estimate of $2.72 by ($0.05). Diamondback Energy had a return on equity of 9.48% and a net margin of 27.25%. The company had revenue of $3.68 billion during the quarter, compared to the consensus estimate of $3.35 billion. During the same period in the previous year, the firm posted $4.52 earnings per share. The company's revenue was up 48.1% on a year-over-year basis. Equities analysts predict that Diamondback Energy, Inc. will post 15.49 EPS for the current fiscal year.

Diamondback Energy Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, August 21st. Stockholders of record on Thursday, August 14th will be given a $1.00 dividend. The ex-dividend date of this dividend is Thursday, August 14th. This represents a $4.00 dividend on an annualized basis and a dividend yield of 2.8%. Diamondback Energy's payout ratio is presently 24.46%.

Insider Activity

In related news, President Hof Matthew Kaes Van't sold 10,000 shares of the stock in a transaction that occurred on Monday, May 12th. The shares were 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 owned 120,645 shares of the company's stock, valued at $17,214,835.05. This represents a 7.65% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 0.70% of the stock is currently owned by 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.