Man Group plc lifted its holdings in shares of Diamondback Energy, Inc. (NASDAQ:FANG - Free Report) by 126.7% during the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 26,740 shares of the oil and natural gas company's stock after purchasing an additional 14,943 shares during the period. Man Group plc's holdings in Diamondback Energy were worth $4,381,000 at the end of the most recent reporting period.
Other large investors also recently made changes to their positions in the company. Demars Financial Group LLC bought a new position in Diamondback Energy in the fourth quarter valued at about $638,050,000. Raymond James Financial Inc. acquired a new stake in shares of Diamondback Energy during the fourth quarter worth about $298,327,000. Alyeska Investment Group L.P. acquired a new stake in shares of Diamondback Energy during the fourth quarter worth about $185,193,000. Price T Rowe Associates Inc. MD raised its position in shares of Diamondback Energy by 11.3% during the fourth 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 period. Finally, Diamond Hill Capital Management Inc. raised its position in shares of Diamondback Energy by 30.5% during the fourth quarter. Diamond Hill Capital Management Inc. now owns 2,817,554 shares of the oil and natural gas company's stock worth $461,600,000 after purchasing an additional 658,644 shares during the period. Institutional investors own 90.01% of the company's stock.
Wall Street Analyst Weigh In
A number of research firms have recently commented on FANG. Mizuho dropped their price target on Diamondback Energy from $186.00 to $179.00 and set an "outperform" rating on the stock in a research report on Tuesday, May 13th. 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 report on Thursday, April 17th. Wells Fargo & Company dropped their target price on Diamondback Energy from $215.00 to $207.00 and set an "overweight" rating on the stock in a research report on Monday, April 21st. Piper Sandler dropped their target price on Diamondback Energy from $234.00 to $225.00 and set an "overweight" rating on the stock in a research report on Tuesday, May 13th. Finally, Citigroup raised Diamondback Energy from a "reduce" rating to a "buy" rating and lifted their target price for the company from $157.00 to $180.00 in a research report on Monday, April 7th. Two equities research analysts have rated the stock with a hold rating, nineteen have assigned a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of "Buy" and an average target price of $194.09.
Read Our Latest Stock Report on Diamondback Energy
Diamondback Energy Stock Performance
FANG opened at $136.31 on Thursday. The business has a fifty day simple moving average of $140.68 and a 200 day simple moving average of $157.33. The company has a market capitalization of $39.83 billion, a PE ratio of 7.80, a price-to-earnings-growth ratio of 1.24 and a beta of 1.06. Diamondback Energy, Inc. has a 1 year low of $114.00 and a 1 year 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.
Diamondback Energy (NASDAQ:FANG - Get Free Report) last released its quarterly earnings results on Monday, May 5th. The oil and natural gas company reported $4.54 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.67 by $0.87. The business had revenue of $4.05 billion during the quarter, compared to the consensus estimate of $3.58 billion. Diamondback Energy had a return on equity of 13.68% and a net margin of 33.64%. The firm's quarterly revenue was up 81.8% on a year-over-year basis. During the same period in the previous year, the company posted $4.50 EPS. Research analysts expect that Diamondback Energy, Inc. will post 15.49 EPS for the current year.
Diamondback Energy Announces Dividend
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, May 22nd. Shareholders of record on Thursday, May 15th will be issued a $1.00 dividend. The ex-dividend date of this dividend is Thursday, May 15th. This represents a $4.00 annualized dividend and a yield of 2.93%. Diamondback Energy's dividend payout ratio is presently 24.46%.
Insider Buying and Selling at Diamondback Energy
In other Diamondback Energy news, President Hof Matthew Kaes Van't sold 10,000 shares of Diamondback Energy 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 transaction, the president now directly owns 120,645 shares of the company's stock, valued at $17,214,835.05. The trade was a 7.65% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Frank D. Tsuru acquired 2,000 shares of the company's stock in a transaction on Friday, February 28th. The stock was bought at an average cost of $156.51 per share, with a total value of $313,020.00. Following the completion of the acquisition, 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. Insiders own 0.48% of the company's stock.
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.
Further Reading
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