PKO Investment Management Joint Stock Co Takes Position in Diamondback Energy, Inc. (NASDAQ:FANG)

PKO Investment Management Joint Stock Co purchased a new position in shares of Diamondback Energy, Inc. (NASDAQ:FANG - Free Report) in the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor purchased 5,500 shares of the oil and natural gas company's stock, valued at approximately $901,000.

Other large investors also recently made changes to their positions in the company. QRG Capital Management Inc. boosted its stake in Diamondback Energy by 38.4% during the 4th quarter. QRG Capital Management Inc. now owns 11,675 shares of the oil and natural gas company's stock valued at $1,913,000 after purchasing an additional 3,238 shares during the period. Swedbank AB boosted its stake in Diamondback Energy by 28.0% during the 4th quarter. Swedbank AB now owns 198,283 shares of the oil and natural gas company's stock valued at $32,485,000 after purchasing an additional 43,361 shares during the period. Tokio Marine Asset Management Co. Ltd. boosted its stake in Diamondback Energy by 631.1% during 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 period. Tectonic Advisors LLC boosted its stake in 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 purchasing an additional 8,704 shares during the period. Finally, Candriam S.C.A. boosted its stake in 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 valued at $3,447,000 after purchasing an additional 4,529 shares during the period. Institutional investors own 90.01% of the company's stock.

Analyst Upgrades and Downgrades

FANG has been the subject of a number of research reports. Evercore ISI initiated coverage on Diamondback Energy in a research report on Tuesday, May 6th. They issued an "outperform" rating and a $165.00 price objective for the company. Bank of America raised their price objective on Diamondback Energy from $165.00 to $170.00 and gave the stock a "buy" rating in a research report on Friday, May 23rd. Scotiabank reduced their price objective on Diamondback Energy from $215.00 to $175.00 and set a "sector outperform" rating for the company in a research report on Friday, April 11th. Truist Financial raised their price objective on Diamondback Energy from $238.00 to $242.00 and gave the stock a "buy" rating in a research report on Thursday, April 17th. Finally, Wells Fargo & Company reduced their price objective on Diamondback Energy from $215.00 to $207.00 and set an "overweight" rating for the company in a research report on Monday, April 21st. Two investment 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 company. According to MarketBeat, the company presently has a consensus rating of "Buy" and a consensus target price of $193.09.

Insider Activity at Diamondback Energy

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 transaction of $1,426,900.00. Following the completion of the sale, the president now directly owns 120,645 shares of the company's stock, valued at $17,214,835.05. This trade represents a 7.65% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders own 0.70% of the company's stock.

Diamondback Energy Price Performance

Shares of FANG traded down $2.82 during mid-day trading on Friday, reaching $134.99. The company had a trading volume of 4,362,783 shares, compared to its average volume of 2,168,876. Diamondback Energy, Inc. has a twelve month low of $114.00 and a twelve 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 company's 50-day moving average is $137.66 and its 200-day moving average is $155.21. The company has a market capitalization of $39.44 billion, a P/E ratio of 7.73, a P/E/G ratio of 1.24 and a beta of 1.06.

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 for the quarter, beating analysts' consensus estimates of $3.67 by $0.87. Diamondback Energy had a return on equity of 13.68% and a net margin of 33.64%. The firm had revenue of $4.05 billion during the quarter, compared to analysts' expectations of $3.58 billion. During the same period last year, the firm posted $4.50 EPS. The business's revenue was up 81.8% on a year-over-year basis. On average, equities analysts anticipate that Diamondback Energy, Inc. will post 15.49 EPS 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 issued a dividend of $1.00 per share. The ex-dividend date of this dividend was Thursday, May 15th. This represents a $4.00 dividend on an annualized basis and a yield of 2.96%. Diamondback Energy's dividend payout ratio is 24.46%.

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.