Diamondback Energy, Inc. (NASDAQ:FANG) Shares Sold by OMERS ADMINISTRATION Corp

OMERS ADMINISTRATION Corp lessened its holdings in shares of Diamondback Energy, Inc. (NASDAQ:FANG - Free Report) by 16.2% during the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 13,501 shares of the oil and natural gas company's stock after selling 2,603 shares during the quarter. OMERS ADMINISTRATION Corp's holdings in Diamondback Energy were worth $2,212,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. Price T Rowe Associates Inc. MD lifted its holdings in Diamondback Energy by 11.3% during the 4th 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 buying an additional 928,429 shares in the last quarter. Boston Partners raised its stake in shares of Diamondback Energy by 12.4% in the fourth quarter. Boston Partners now owns 5,169,742 shares of the oil and natural gas company's stock valued at $849,202,000 after acquiring an additional 571,820 shares in the last quarter. Geode Capital Management LLC raised its stake in shares of Diamondback Energy by 2.0% in the fourth quarter. Geode Capital Management LLC now owns 4,710,165 shares of the oil and natural gas company's stock valued at $769,706,000 after acquiring an additional 91,605 shares in the last quarter. Bank of New York Mellon Corp boosted its holdings in Diamondback Energy by 13.7% in the fourth quarter. Bank of New York Mellon Corp now owns 4,163,070 shares of the oil and natural gas company's stock valued at $682,036,000 after purchasing an additional 502,916 shares during the period. Finally, Demars Financial Group LLC acquired a new position in Diamondback Energy during the 4th quarter worth $638,050,000. Hedge funds and other institutional investors own 90.01% of the company's stock.

Diamondback Energy Stock Performance

Shares of FANG stock traded down $0.82 during trading hours on Friday, hitting $141.13. The stock had a trading volume of 2,291,301 shares, compared to its average volume of 2,141,691. 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 firm has a market capitalization of $41.23 billion, a PE ratio of 8.08, a PEG ratio of 1.24 and a beta of 1.06. The stock's 50 day moving average is $141.25 and its 200 day moving average is $158.00. Diamondback Energy, Inc. has a twelve month low of $114.00 and a twelve month high of $214.50.

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 EPS for the quarter, beating the consensus estimate of $3.67 by $0.87. Diamondback Energy had a net margin of 33.64% and a return on equity of 13.68%. The firm had revenue of $4.05 billion during the quarter, compared to the consensus estimate of $3.58 billion. During the same quarter in the prior year, the firm earned $4.50 EPS. Diamondback Energy's revenue for the quarter was up 81.8% on a year-over-year basis. As a group, research analysts forecast that Diamondback Energy, Inc. will post 15.49 earnings per share for the current fiscal year.

Diamondback Energy Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, May 22nd. Stockholders of record on Thursday, May 15th will be paid a dividend of $1.00 per share. The ex-dividend date of this dividend is Thursday, May 15th. This represents a $4.00 annualized dividend and a dividend yield of 2.83%. Diamondback Energy's dividend payout ratio (DPR) is 24.46%.

Analysts Set New Price Targets

A number of equities analysts have recently commented on the company. Williams Trading set a $190.00 price objective on Diamondback Energy in a research report on Wednesday, March 5th. Truist Financial boosted their price target on shares of Diamondback Energy from $238.00 to $242.00 and gave the stock a "buy" rating in a report on Thursday, April 17th. Royal Bank of Canada began coverage on shares of Diamondback Energy in a research report on Friday, May 2nd. They issued an "outperform" rating and a $180.00 price objective on the stock. Mizuho decreased their price objective on shares of Diamondback Energy from $186.00 to $179.00 and set an "outperform" rating for the company in a research report on Tuesday, May 13th. Finally, Morgan Stanley reissued an "overweight" rating on shares of Diamondback Energy in a report on Tuesday, April 15th. Two investment 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 stock. Based on data from MarketBeat, the company currently has a consensus rating of "Buy" and an average target price of $194.09.

Insider Buying and Selling

In other Diamondback Energy news, President Hof Matthew Kaes Van't sold 10,000 shares of the business's 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 transaction, the president now directly owns 120,645 shares of the company's stock, valued at approximately $17,214,835.05. The trade was a 7.65% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Frank D. Tsuru acquired 2,000 shares of the business's stock in a transaction on Friday, February 28th. The shares were purchased at an average price of $156.51 per share, with a total value of $313,020.00. Following the transaction, the director now owns 5,730 shares in the company, valued at $896,802.30. The trade was a 53.62% increase in their position. The disclosure for this purchase can be found here. Corporate insiders own 0.70% of the company's stock.

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.