Assenagon Asset Management S.A. Acquires 1,042,505 Shares of Diamondback Energy, Inc. (NASDAQ:FANG)

Assenagon Asset Management S.A. boosted its holdings in Diamondback Energy, Inc. (NASDAQ:FANG - Free Report) by 1,153.0% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,132,918 shares of the oil and natural gas company's stock after purchasing an additional 1,042,505 shares during the quarter. Assenagon Asset Management S.A. owned approximately 0.39% of Diamondback Energy worth $185,606,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. Franklin Resources Inc. increased its position in Diamondback Energy by 48.5% in the third quarter. Franklin Resources Inc. now owns 146,870 shares of the oil and natural gas company's stock worth $28,008,000 after buying an additional 47,951 shares during the period. Benjamin Edwards Inc. grew its position in shares of Diamondback Energy by 368.1% during the third quarter. Benjamin Edwards Inc. now owns 9,784 shares of the oil and natural gas company's stock worth $1,687,000 after acquiring an additional 7,694 shares during the last quarter. Everence Capital Management Inc. acquired a new stake in shares of Diamondback Energy in the 4th quarter worth about $1,053,000. Geode Capital Management LLC lifted its position in Diamondback Energy by 6.1% in the 3rd quarter. Geode Capital Management LLC now owns 4,618,560 shares of the oil and natural gas company's stock valued at $793,611,000 after purchasing an additional 266,299 shares during the last quarter. Finally, Atria Investments Inc boosted its stake in Diamondback Energy by 18.5% during the 3rd quarter. Atria Investments Inc now owns 42,678 shares of the oil and natural gas company's stock valued at $7,358,000 after purchasing an additional 6,672 shares during the period. Institutional investors own 90.01% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on the company. Scotiabank cut their price target on Diamondback Energy from $245.00 to $225.00 and set a "sector outperform" rating on the stock in a report on Thursday, October 10th. Truist Financial boosted their price target on Diamondback Energy from $230.00 to $236.00 and gave the stock a "buy" rating in a research report on Monday. Mizuho lowered their price target on Diamondback Energy from $219.00 to $207.00 and set an "outperform" rating on the stock in a report on Monday, December 16th. StockNews.com raised shares of Diamondback Energy from a "sell" rating to a "hold" rating in a research note on Wednesday, November 13th. Finally, BMO Capital Markets raised shares of Diamondback Energy from a "market perform" rating to an "outperform" rating and upped their price target for the stock from $205.00 to $215.00 in a research note on Friday, October 4th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating, eighteen have given a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat.com, Diamondback Energy presently has an average rating of "Moderate Buy" and a consensus price target of $210.08.

Insider Buying and Selling at Diamondback Energy

In other Diamondback Energy news, Director Mark Lawrence Plaumann sold 1,150 shares of the company's stock in a transaction dated Wednesday, November 13th. The stock was sold at an average price of $181.00, for a total value of $208,150.00. Following the transaction, the director now directly owns 4,712 shares of the company's stock, valued at $852,872. This represents a 19.62 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Company insiders own 0.48% of the company's stock.

Diamondback Energy Trading Up 1.1 %

NASDAQ FANG traded up $1.88 on Wednesday, hitting $179.56. 1,669,815 shares of the stock were exchanged, compared to its average volume of 2,098,713. The company's 50-day moving average price is $170.76 and its two-hundred day moving average price is $183.46. 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 52-week low of $147.93 and a 52-week high of $214.50. The company has a market capitalization of $52.43 billion, a price-to-earnings ratio of 10.28, a P/E/G ratio of 1.19 and a beta of 1.88.

Diamondback Energy (NASDAQ:FANG - Get Free Report) last posted its quarterly earnings results on Monday, November 4th. The oil and natural gas company reported $3.38 earnings per share for the quarter, missing the consensus estimate of $4.62 by ($1.24). Diamondback Energy had a net margin of 33.64% and a return on equity of 13.68%. The business had revenue of $2.65 billion for the quarter, compared to analyst estimates of $2.43 billion. During the same period in the previous year, the firm posted $5.49 earnings per share. The firm's quarterly revenue was up 13.0% on a year-over-year basis. Research analysts predict that Diamondback Energy, Inc. will post 16.51 EPS for the current year.

Diamondback Energy Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, November 21st. Investors of record on Thursday, November 14th were given a dividend of $0.90 per share. This represents a $3.60 dividend on an annualized basis and a yield of 2.00%. The ex-dividend date was Thursday, November 14th. Diamondback Energy's payout ratio is presently 20.61%.

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.