Canada Pension Plan Investment Board Has $89.63 Million Stock Position in Diamondback Energy, Inc. (NASDAQ:FANG)

Canada Pension Plan Investment Board reduced its stake in shares of Diamondback Energy, Inc. (NASDAQ:FANG - Free Report) by 0.7% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 547,061 shares of the oil and natural gas company's stock after selling 3,937 shares during the period. Canada Pension Plan Investment Board owned 0.19% of Diamondback Energy worth $89,625,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. Wintrust Investments LLC bought a new stake in Diamondback Energy during the fourth quarter valued at about $28,000. R Squared Ltd bought a new stake in Diamondback Energy in the fourth quarter valued at $29,000. UMB Bank n.a. increased its position in shares of Diamondback Energy by 247.3% during the 4th quarter. UMB Bank n.a. now owns 191 shares of the oil and natural gas company's stock worth $31,000 after purchasing an additional 136 shares in the last quarter. Key Financial Inc increased its holdings in shares of Diamondback Energy by 940.0% during the fourth quarter. Key Financial Inc now owns 208 shares of the oil and natural gas company's stock worth $34,000 after buying an additional 188 shares in the last quarter. Finally, Rakuten Securities Inc. increased its holdings in Diamondback Energy by 62.4% during the 4th quarter. Rakuten Securities Inc. now owns 276 shares of the oil and natural gas company's stock valued at $45,000 after purchasing an additional 106 shares in the last quarter. 90.01% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on FANG shares. Wells Fargo & Company dropped their target price on shares of Diamondback Energy from $215.00 to $207.00 and set an "overweight" rating for the company in a research note on Monday. Piper Sandler reduced their target price on Diamondback Energy from $240.00 to $234.00 and set an "overweight" rating on the stock in a report on Tuesday. Barclays decreased their price target on shares of Diamondback Energy from $210.00 to $200.00 and set an "overweight" rating for the company in a report on Tuesday, March 18th. Susquehanna lowered their target price on Diamondback Energy from $219.00 to $194.00 and set a "positive" rating for the company in a research note on Tuesday. Finally, KeyCorp lowered their target price on Diamondback Energy from $216.00 to $180.00 and set an "overweight" rating for the company in a report on Monday. Three equities research analysts have rated the stock with a hold rating, nineteen have given a buy rating and two have given a strong buy rating to the company's stock. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $202.75.

Diamondback Energy Stock Performance

Shares of Diamondback Energy stock traded down $1.59 on Wednesday, hitting $134.95. The stock had a trading volume of 1,037,343 shares, compared to its average volume of 2,651,240. The company has a quick ratio of 0.42, a current ratio of 0.45 and a debt-to-equity ratio of 0.31. The stock has a market cap of $39.69 billion, a price-to-earnings ratio of 7.72, a price-to-earnings-growth ratio of 1.24 and a beta of 1.44. The business's 50 day moving average is $146.28 and its two-hundred day moving average is $164.02. 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 posted its quarterly earnings data on Tuesday, February 25th. The oil and natural gas company reported $3.64 EPS for the quarter, topping analysts' consensus estimates of $3.57 by $0.07. Diamondback Energy had a return on equity of 13.68% and a net margin of 33.64%. The firm had revenue of $3.71 billion for the quarter, compared to analyst estimates of $3.55 billion. Analysts forecast that Diamondback Energy, Inc. will post 15.49 EPS for the current year.

Diamondback Energy Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, March 13th. Shareholders of record on Thursday, March 6th were given a dividend of $1.00 per share. This is an increase from Diamondback Energy's previous quarterly dividend of $0.90. This represents a $4.00 annualized dividend and a yield of 2.96%. The ex-dividend date of this dividend was Thursday, March 6th. Diamondback Energy's payout ratio is currently 25.32%.

Insider Activity at Diamondback Energy

In other news, Director Frank D. Tsuru purchased 2,000 shares of the company's stock in a transaction dated Friday, February 28th. The stock was bought at an average cost of $156.51 per share, for a total transaction of $313,020.00. Following the purchase, the director now owns 5,730 shares of the company's stock, valued at approximately $896,802.30. The trade was a 53.62 % increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 0.48% of the stock is currently owned by insiders.

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.