China Universal Asset Management Co. Ltd. Increases Stock Holdings in Diamondback Energy, Inc. (NASDAQ:FANG)

China Universal Asset Management Co. Ltd. lifted its position in Diamondback Energy, Inc. (NASDAQ:FANG - Free Report) by 50.4% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 7,149 shares of the oil and natural gas company's stock after buying an additional 2,397 shares during the quarter. China Universal Asset Management Co. Ltd.'s holdings in Diamondback Energy were worth $1,143,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Wintrust Investments LLC purchased a new stake in shares of Diamondback Energy in the fourth quarter worth about $28,000. Pinnacle Bancorp Inc. lifted its holdings in shares of Diamondback Energy by 95.7% in the first quarter. Pinnacle Bancorp Inc. now owns 180 shares of the oil and natural gas company's stock worth $29,000 after buying an additional 88 shares in the last quarter. Grove Bank & Trust lifted its holdings in shares of Diamondback Energy by 65.0% in the first quarter. Grove Bank & Trust now owns 203 shares of the oil and natural gas company's stock worth $32,000 after buying an additional 80 shares in the last quarter. WASHINGTON TRUST Co lifted its holdings in shares of Diamondback Energy by 119.8% in the first quarter. WASHINGTON TRUST Co now owns 200 shares of the oil and natural gas company's stock worth $32,000 after buying an additional 109 shares in the last quarter. Finally, Fourth Dimension Wealth LLC bought a new position in shares of Diamondback Energy in the fourth quarter worth approximately $33,000. 90.01% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, President Hof Matthew Kaes Van't sold 10,000 shares of the firm's stock in a transaction on Monday, May 12th. The stock was sold at an average price of $142.69, for a total value 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 trade represents a 7.65% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. 0.70% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

FANG has been the topic of several research analyst reports. Scotiabank decreased their price objective on shares of Diamondback Energy from $215.00 to $175.00 and set a "sector outperform" rating on the stock in a research report on Friday, April 11th. Truist Financial upped their price objective on shares of Diamondback Energy from $238.00 to $242.00 and gave the stock a "buy" rating in a research report on Thursday, April 17th. Morgan Stanley decreased their price objective on shares of Diamondback Energy from $186.00 to $183.00 and set an "overweight" rating on the stock in a research report on Friday, May 23rd. Bank of America upped their price objective on shares of Diamondback Energy from $165.00 to $170.00 and gave the stock a "buy" rating in a research report on Friday, May 23rd. Finally, Raymond James Financial restated a "strong-buy" rating on shares of Diamondback Energy in a research report on Thursday, May 22nd. Two investment analysts have rated the stock with a hold rating, nineteen have issued a buy rating and two have given a strong buy rating to the company's stock. According to data from MarketBeat, Diamondback Energy has an average rating of "Buy" and a consensus target price of $193.13.

Diamondback Energy Stock Performance

NASDAQ:FANG opened at $137.92 on Tuesday. The firm has a market cap of $40.30 billion, a PE ratio of 8.44 and a beta of 1.05. Diamondback Energy, Inc. has a fifty-two week low of $114.00 and a fifty-two week high of $214.50. The company has a debt-to-equity ratio of 0.31, a quick ratio of 0.83 and a current ratio of 0.86. The business has a 50 day moving average price of $140.43 and a 200-day moving average price of $149.86.

Diamondback Energy (NASDAQ:FANG - Get Free Report) last released 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 return on equity of 11.22% and a net margin of 30.84%. The firm had revenue of $4.05 billion during the quarter, compared to analyst estimates of $3.58 billion. During the same quarter in the prior year, the firm posted $4.50 earnings per share. The business's quarterly revenue was up 81.8% compared to the same quarter last year. Equities research analysts predict that Diamondback Energy, Inc. will post 15.49 earnings per share for the current year.

Diamondback Energy Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, May 22nd. Investors of record on Thursday, May 15th were paid a $1.00 dividend. This represents a $4.00 dividend on an annualized basis and a yield of 2.90%. The ex-dividend date of this dividend was Thursday, May 15th. Diamondback Energy's payout ratio is 24.46%.

Diamondback Energy Company 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.

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