Schonfeld Strategic Advisors LLC Raises Stake in Diamondback Energy, Inc. (NASDAQ:FANG)

Schonfeld Strategic Advisors LLC increased its stake in Diamondback Energy, Inc. (NASDAQ:FANG - Free Report) by 573.0% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 13,459 shares of the oil and natural gas company's stock after purchasing an additional 11,459 shares during the quarter. Schonfeld Strategic Advisors LLC's holdings in Diamondback Energy were worth $2,205,000 at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in FANG. QRG Capital Management Inc. raised its holdings in Diamondback Energy by 38.4% during 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 purchasing an additional 3,238 shares during the last quarter. Swedbank AB raised its stake in shares of 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 worth $32,485,000 after buying an additional 43,361 shares during the last quarter. Tokio Marine Asset Management Co. Ltd. boosted its position 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 worth $7,069,000 after buying an additional 37,246 shares in the last quarter. Franklin Resources Inc. grew its stake in Diamondback Energy by 48.5% in the 3rd quarter. Franklin Resources Inc. now owns 146,870 shares of the oil and natural gas company's stock valued at $28,008,000 after acquiring an additional 47,951 shares during the last quarter. Finally, Tectonic Advisors LLC increased its holdings 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 acquiring an additional 8,704 shares in the last quarter. Hedge funds and other institutional investors own 90.01% of the company's stock.

Diamondback Energy Price Performance

Shares of NASDAQ FANG opened at $133.08 on Tuesday. 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, Inc. has a 1-year low of $114.00 and a 1-year high of $214.50. The company has a market capitalization of $39.14 billion, a price-to-earnings ratio of 7.62, a PEG ratio of 1.24 and a beta of 1.06. The business has a 50-day moving average of $142.50 and a 200-day moving average of $160.43.

Diamondback Energy (NASDAQ:FANG - Get Free Report) last issued its quarterly earnings data 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 company had revenue of $4.05 billion during the quarter, compared to the consensus estimate of $3.58 billion. Diamondback Energy had a net margin of 33.64% and a return on equity of 13.68%. Diamondback Energy's revenue for the quarter was up 81.8% on a year-over-year basis. During the same quarter last year, the company earned $4.50 earnings per share. On average, equities analysts anticipate that Diamondback Energy, Inc. will post 15.49 EPS for the current fiscal year.

Diamondback Energy Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, May 22nd. Shareholders of record on Thursday, May 15th will be given a $1.00 dividend. This represents a $4.00 dividend on an annualized basis and a dividend yield of 3.01%. Diamondback Energy's payout ratio is 25.32%.

Wall Street Analyst Weigh In

Several analysts have recently commented on FANG shares. Piper Sandler lowered their price target on shares of Diamondback Energy from $240.00 to $234.00 and set an "overweight" rating on the stock in a research report on Tuesday, April 22nd. Royal Bank of Canada began coverage on Diamondback Energy in a research report on Friday. They set an "outperform" rating and a $180.00 price target for the company. KeyCorp reduced their price objective on Diamondback Energy from $216.00 to $180.00 and set an "overweight" rating on the stock in a research report on Monday, April 21st. Williams Trading set a $190.00 price objective on Diamondback Energy in a research report on Wednesday, March 5th. Finally, Bank of America upgraded shares of Diamondback Energy from a "neutral" rating to a "buy" rating and lowered their price target for the stock from $202.00 to $170.00 in a report on Tuesday, April 29th. Two investment analysts have rated the stock with a hold rating, nineteen have issued a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat.com, Diamondback Energy presently has an average rating of "Buy" and an average target price of $197.70.

Insider Activity

In related news, Director Frank D. Tsuru acquired 2,000 shares of the firm'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 acquisition, the director now directly owns 5,730 shares in the company, valued at approximately $896,802.30. The trade was a 53.62 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Company 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.

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