Diamondback Energy, Inc. (NASDAQ:FANG) Position Boosted by Meeder Asset Management Inc.

Meeder Asset Management Inc. grew its holdings in Diamondback Energy, Inc. (NASDAQ:FANG - Free Report) by 11.4% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 48,311 shares of the oil and natural gas company's stock after purchasing an additional 4,946 shares during the period. Meeder Asset Management Inc.'s holdings in Diamondback Energy were worth $7,492,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently modified their holdings of FANG. Meeder Advisory Services Inc. grew its stake in Diamondback Energy by 6.3% during the fourth quarter. Meeder Advisory Services Inc. now owns 2,540 shares of the oil and natural gas company's stock valued at $394,000 after acquiring an additional 150 shares in the last quarter. Americana Partners LLC grew its stake in Diamondback Energy by 51.9% during the fourth quarter. Americana Partners LLC now owns 2,738 shares of the oil and natural gas company's stock valued at $425,000 after acquiring an additional 936 shares in the last quarter. Pinkerton Retirement Specialists LLC purchased a new position in Diamondback Energy in the 4th quarter worth approximately $339,000. Nisa Investment Advisors LLC grew its stake in Diamondback Energy by 2.6% in the 4th quarter. Nisa Investment Advisors LLC now owns 53,014 shares of the oil and natural gas company's stock worth $8,221,000 after buying an additional 1,327 shares in the last quarter. Finally, Biltmore Wealth Management LLC grew its stake in Diamondback Energy by 2.2% in the 4th quarter. Biltmore Wealth Management LLC now owns 3,924 shares of the oil and natural gas company's stock worth $608,000 after buying an additional 84 shares in the last quarter. Institutional investors own 90.01% of the company's stock.

Insiders Place Their Bets

In other Diamondback Energy news, CEO Travis D. Stice sold 30,000 shares of the firm's stock in a transaction that occurred on Tuesday, April 2nd. The shares were sold at an average price of $200.00, for a total transaction of $6,000,000.00. Following the sale, the chief executive officer now owns 446,610 shares in the company, valued at approximately $89,322,000. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In other Diamondback Energy news, EVP Matt Zmigrosky sold 5,000 shares of the business's stock in a transaction on Thursday, March 21st. The shares were sold at an average price of $193.94, for a total transaction of $969,700.00. Following the transaction, the executive vice president now owns 44,445 shares in the company, valued at $8,619,663.30. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Travis D. Stice sold 30,000 shares of the company's stock in a transaction dated Tuesday, April 2nd. The stock was sold at an average price of $200.00, for a total transaction of $6,000,000.00. Following the completion of the transaction, the chief executive officer now owns 446,610 shares in the company, valued at $89,322,000. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 57,675 shares of company stock worth $11,311,096. Company insiders own 0.43% of the company's stock.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on FANG shares. Bank Of America (Bofa) cut their price objective on shares of Diamondback Energy from $147.00 to $129.00 and set an "underperform" rating for the company in a research note on Thursday, January 18th. Royal Bank of Canada reaffirmed an "outperform" rating and issued a $195.00 price objective on shares of Diamondback Energy in a research note on Monday, March 4th. Truist Financial cut their price objective on shares of Diamondback Energy from $250.00 to $248.00 and set a "buy" rating for the company in a research note on Friday. Morgan Stanley upped their price objective on shares of Diamondback Energy from $177.00 to $186.00 and gave the company an "overweight" rating in a research note on Thursday, March 28th. Finally, KeyCorp upped their price target on shares of Diamondback Energy from $186.00 to $210.00 and gave the company an "overweight" rating in a report on Thursday, March 21st. One analyst has rated the stock with a sell rating, four have issued a hold rating, fourteen have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $191.32.

Diamondback Energy Stock Up 1.6 %

Shares of Diamondback Energy stock traded up $3.27 during trading on Friday, hitting $204.32. The company's stock had a trading volume of 1,518,549 shares, compared to its average volume of 1,335,514. The company has a debt-to-equity ratio of 0.38, a quick ratio of 0.74 and a current ratio of 0.77. The company has a fifty day simple moving average of $179.56 and a two-hundred day simple moving average of $164.17. The company has a market capitalization of $36.44 billion, a PE ratio of 11.78 and a beta of 1.93. Diamondback Energy, Inc. has a 52 week low of $123.41 and a 52 week high of $205.02.

Diamondback Energy (NASDAQ:FANG - Get Free Report) last announced its quarterly earnings data on Tuesday, February 20th. The oil and natural gas company reported $4.74 EPS for the quarter, beating the consensus estimate of $4.61 by $0.13. The company had revenue of $2.23 billion for the quarter, compared to the consensus estimate of $2.16 billion. Diamondback Energy had a net margin of 37.36% and a return on equity of 19.56%. Diamondback Energy's revenue for the quarter was up 9.8% on a year-over-year basis. During the same period in the prior year, the firm posted $5.29 EPS. Equities research analysts predict that Diamondback Energy, Inc. will post 18.35 earnings per share for the current year.

Diamondback Energy Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, March 12th. Stockholders of record on Tuesday, March 5th were paid a $3.08 dividend. This represents a $12.32 annualized dividend and a dividend yield of 6.03%. The ex-dividend date was Monday, March 4th. This is a boost from Diamondback Energy's previous quarterly dividend of $0.84. Diamondback Energy's dividend payout ratio is 20.76%.

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.