Aster Capital Management DIFC Ltd Buys New Stake in Diamondback Energy, Inc. (NASDAQ:FANG)

Aster Capital Management DIFC Ltd purchased a new position in Diamondback Energy, Inc. (NASDAQ:FANG - Free Report) during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm purchased 2,839 shares of the oil and natural gas company's stock, valued at approximately $465,000.

Other hedge funds and other institutional investors have also modified their holdings of the company. QRG Capital Management Inc. boosted its stake in Diamondback Energy by 38.4% in the fourth 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 acquiring an additional 3,238 shares during the period. Swedbank AB boosted its position 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. grew 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 worth $7,069,000 after buying an additional 37,246 shares during the last quarter. 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. Finally, Tectonic Advisors LLC boosted its holdings in shares of Diamondback Energy by 38.2% during the fourth 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 during the period. 90.01% of the stock is owned by institutional investors and hedge funds.

Remove Ads

Insider Transactions at Diamondback Energy

In other news, Director Frank D. Tsuru acquired 2,000 shares of the business's stock in a transaction that occurred on Friday, February 28th. The stock was acquired at an average cost of $156.51 per share, for a total transaction of $313,020.00. Following the completion of the acquisition, the director now 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.48% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on FANG shares. Wolfe Research upgraded shares of Diamondback Energy from a "peer perform" rating to an "outperform" rating and set a $190.00 price objective on the stock in a research report on Friday, January 3rd. Williams Trading set a $190.00 price objective on Diamondback Energy in a research report on Wednesday, March 5th. Piper Sandler lowered their target price on Diamondback Energy from $252.00 to $232.00 and set an "overweight" rating on the stock in a research report on Tuesday, December 17th. Scotiabank reduced their price target on Diamondback Energy from $215.00 to $175.00 and set a "sector outperform" rating for the company in a research report on Friday. Finally, UBS Group raised their price target on Diamondback Energy from $212.00 to $216.00 and gave the company a "buy" rating in a report on Thursday, February 13th. Three equities research analysts have rated the stock with a hold rating, nineteen have issued a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $208.17.

Diamondback Energy Trading Up 4.7 %

Shares of NASDAQ:FANG traded up $5.85 during mid-day trading on Friday, hitting $129.01. The stock had a trading volume of 3,928,062 shares, compared to its average volume of 2,063,823. The company's 50 day moving average is $150.06 and its 200-day moving average is $166.28. Diamondback Energy, Inc. has a 12-month low of $114.00 and a 12-month high of $214.50. The company has a debt-to-equity ratio of 0.31, a quick ratio of 0.42 and a current ratio of 0.45. The company has a market cap of $37.94 billion, a PE ratio of 7.38, a P/E/G ratio of 1.24 and a beta of 1.44.

Diamondback Energy (NASDAQ:FANG - Get Free Report) last issued its earnings results on Tuesday, February 25th. The oil and natural gas company reported $3.64 EPS for the quarter, topping the consensus estimate of $3.57 by $0.07. The business had revenue of $3.71 billion during the quarter, compared to analysts' expectations of $3.55 billion. Diamondback Energy had a return on equity of 13.68% and a net margin of 33.64%. On average, sell-side analysts predict that Diamondback Energy, Inc. will post 15.49 EPS for the current year.

Diamondback Energy Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, March 13th. Stockholders of record on Thursday, March 6th were issued a $1.00 dividend. This is an increase from Diamondback Energy's previous quarterly dividend of $0.90. The ex-dividend date was Thursday, March 6th. This represents a $4.00 dividend on an annualized basis and a dividend yield of 3.10%. Diamondback Energy's dividend payout ratio is currently 25.32%.

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.