Diamondback Energy, Inc. (NASDAQ:FANG) Shares Bought by Mackenzie Financial Corp

Mackenzie Financial Corp boosted its holdings in Diamondback Energy, Inc. (NASDAQ:FANG - Free Report) by 59.3% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 113,222 shares of the oil and natural gas company's stock after buying an additional 42,140 shares during the period. Mackenzie Financial Corp's holdings in Diamondback Energy were worth $18,549,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. QRG Capital Management Inc. boosted its position in shares of Diamondback Energy by 38.4% in the fourth quarter. QRG Capital Management Inc. now owns 11,675 shares of the oil and natural gas company's stock worth $1,913,000 after acquiring an additional 3,238 shares during the last quarter. Swedbank AB raised its stake in Diamondback Energy by 28.0% during the fourth quarter. Swedbank AB now owns 198,283 shares of the oil and natural gas company's stock worth $32,485,000 after purchasing an additional 43,361 shares during the period. Tokio Marine Asset Management Co. Ltd. boosted its holdings in shares of Diamondback Energy by 631.1% in the 4th quarter. Tokio Marine Asset Management Co. Ltd. now owns 43,148 shares of the oil and natural gas company's stock valued at $7,069,000 after purchasing an additional 37,246 shares during the last quarter. Tectonic Advisors LLC grew its stake in shares of Diamondback Energy by 38.2% during the 4th quarter. Tectonic Advisors LLC now owns 31,467 shares of the oil and natural gas company's stock valued at $5,155,000 after buying an additional 8,704 shares during the period. Finally, Candriam S.C.A. increased its holdings in shares of Diamondback Energy by 27.4% during the 4th quarter. Candriam S.C.A. now owns 21,040 shares of the oil and natural gas company's stock worth $3,447,000 after buying an additional 4,529 shares during the last quarter. Hedge funds and other institutional investors own 90.01% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on the company. Susquehanna lowered 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. Royal Bank of Canada began coverage on Diamondback Energy in a report on Friday, May 2nd. They set an "outperform" rating and a $180.00 target price for the company. Truist Financial increased their target price 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. Bank of America lifted their price target on shares of Diamondback Energy from $165.00 to $170.00 and gave the company a "buy" rating in a research report on Friday, May 23rd. Finally, Barclays dropped their price objective 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 research 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. Based on data from MarketBeat.com, the stock currently has an average rating of "Buy" and an average price target of $193.09.

Diamondback Energy Stock Performance

Shares of Diamondback Energy stock traded up $1.53 during trading hours on Thursday, reaching $137.81. The company's stock had a trading volume of 2,103,110 shares, compared to its average volume of 2,154,078. Diamondback Energy, Inc. has a one year low of $114.00 and a one year high of $214.50. The company's 50 day simple moving average is $138.66 and its 200 day simple moving average is $155.81. The company has a debt-to-equity ratio of 0.31, a quick ratio of 0.42 and a current ratio of 0.45. The stock has a market cap of $40.26 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 released its quarterly earnings data on Monday, May 5th. The oil and natural gas company reported $4.54 earnings per share for the quarter, topping the consensus estimate of $3.67 by $0.87. The firm had revenue of $4.05 billion for the quarter, compared to analyst estimates of $3.58 billion. Diamondback Energy had a net margin of 33.64% and a return on equity of 13.68%. Diamondback Energy's quarterly revenue was up 81.8% on a year-over-year basis. During the same quarter in the prior year, the business earned $4.50 earnings per share. As a group, analysts expect that Diamondback Energy, Inc. will post 15.49 EPS for the current fiscal year.

Diamondback Energy Dividend Announcement

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

Insider Activity at Diamondback Energy

In other Diamondback Energy news, Director Frank D. Tsuru bought 2,000 shares of the stock in a transaction that occurred on Friday, February 28th. The shares were purchased at an average cost of $156.51 per share, for a total transaction of $313,020.00. Following the transaction, the director now directly 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 purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, President Hof Matthew Kaes Van't sold 10,000 shares of Diamondback Energy stock in a transaction on Monday, May 12th. The shares were sold at an average price of $142.69, for a total value of $1,426,900.00. Following the sale, the president now directly owns 120,645 shares in the company, valued at $17,214,835.05. The trade was a 7.65% decrease in their position. The disclosure for this sale can be found here. Insiders own 0.70% of the company's stock.

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.