QRG Capital Management Inc. Purchases 3,238 Shares of Diamondback Energy, Inc. (NASDAQ:FANG)

QRG Capital Management Inc. grew its holdings in shares of Diamondback Energy, Inc. (NASDAQ:FANG - Free Report) by 38.4% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 11,675 shares of the oil and natural gas company's stock after buying an additional 3,238 shares during the quarter. QRG Capital Management Inc.'s holdings in Diamondback Energy were worth $1,913,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Swedbank AB boosted its holdings in Diamondback Energy by 28.0% in the fourth quarter. Swedbank AB now owns 198,283 shares of the oil and natural gas company's stock worth $32,485,000 after purchasing an additional 43,361 shares during the period. Tokio Marine Asset Management Co. Ltd. raised its stake in Diamondback Energy by 631.1% during the fourth 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 acquiring an additional 37,246 shares during the period. Franklin Resources Inc. lifted its holdings 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 acquiring an additional 47,951 shares during the last quarter. Tectonic Advisors LLC grew 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 purchasing an additional 8,704 shares during the last quarter. Finally, Benjamin Edwards Inc. raised its position in shares of Diamondback Energy by 368.1% during the 3rd quarter. Benjamin Edwards Inc. now owns 9,784 shares of the oil and natural gas company's stock worth $1,687,000 after purchasing an additional 7,694 shares during the period. Institutional investors own 90.01% of the company's stock.

Diamondback Energy Trading Down 6.9 %

Shares of NASDAQ:FANG traded down $10.96 during midday trading on Monday, hitting $148.00. The company had a trading volume of 3,492,615 shares, compared to its average volume of 2,321,784. Diamondback Energy, Inc. has a 12 month low of $147.70 and a 12 month high of $214.50. The firm has a fifty day simple moving average of $165.42 and a 200 day simple moving average of $175.04. The company has a current ratio of 0.45, a quick ratio of 0.42 and a debt-to-equity ratio of 0.31. The stock has a market cap of $42.84 billion, a price-to-earnings ratio of 8.47, a PEG ratio of 1.24 and a beta of 1.86.

Diamondback Energy (NASDAQ:FANG - Get Free Report) last issued its quarterly earnings results on Tuesday, February 25th. The oil and natural gas company reported $3.64 EPS for the quarter, beating 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 company had revenue of $3.71 billion for the quarter, compared to analyst estimates of $3.55 billion. On average, analysts predict that Diamondback Energy, Inc. will post 15.49 EPS for the current year.

Diamondback Energy Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, March 13th. Stockholders of record on Thursday, March 6th will be paid a dividend of $1.00 per share. The ex-dividend date of this dividend is Thursday, March 6th. This represents a $4.00 dividend on an annualized basis and a dividend yield of 2.70%. This is a positive change from Diamondback Energy's previous quarterly dividend of $0.90. Diamondback Energy's dividend payout ratio (DPR) is 25.32%.

Analyst Ratings Changes

Several equities research analysts have weighed in on FANG shares. Truist Financial increased their target price on Diamondback Energy from $236.00 to $238.00 and gave the stock a "buy" rating in a research report on Wednesday, February 19th. The Goldman Sachs Group started coverage on shares of Diamondback Energy in a research note on Monday, December 2nd. They set a "buy" rating and a $227.00 target price for the company. JPMorgan Chase & Co. raised their price target on shares of Diamondback Energy from $191.00 to $195.00 and gave the company an "overweight" rating in a research note on Friday, January 17th. Piper Sandler cut their price target on Diamondback Energy from $252.00 to $232.00 and set an "overweight" rating on the stock in a report on Tuesday, December 17th. Finally, Wolfe Research raised Diamondback Energy from a "peer perform" rating to an "outperform" rating and set a $190.00 price objective for the company in a report on Friday, January 3rd. Four investment analysts have rated the stock with a hold rating, eighteen have assigned a buy rating and two have assigned a strong buy rating to the company's stock. Based on data from MarketBeat, Diamondback Energy currently has a consensus rating of "Moderate Buy" and a consensus price target of $216.09.

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.