Elo Mutual Pension Insurance Co Increases Stake in Diamondback Energy, Inc. (NASDAQ:FANG)

Elo Mutual Pension Insurance Co increased its stake in Diamondback Energy, Inc. (NASDAQ:FANG - Free Report) by 23.5% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 19,447 shares of the oil and natural gas company's stock after purchasing an additional 3,706 shares during the quarter. Elo Mutual Pension Insurance Co's holdings in Diamondback Energy were worth $3,186,000 at the end of the most recent quarter.

A number of other large investors have also added to or reduced their stakes in FANG. Artisan Partners Limited Partnership increased its position in Diamondback Energy by 33,693.9% during the fourth quarter. Artisan Partners Limited Partnership now owns 457,908 shares of the oil and natural gas company's stock valued at $75,019,000 after acquiring an additional 456,553 shares during the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. boosted its holdings in shares of Diamondback Energy by 18.2% in the fourth quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 327,284 shares of the oil and natural gas company's stock worth $55,952,000 after buying an additional 50,423 shares during the last quarter. TrueMark Investments LLC grew its position in Diamondback Energy by 21.4% during the fourth quarter. TrueMark Investments LLC now owns 2,347 shares of the oil and natural gas company's stock valued at $385,000 after buying an additional 413 shares during the period. Mitsubishi UFJ Trust & Banking Corp grew its position in Diamondback Energy by 4.2% during the fourth quarter. Mitsubishi UFJ Trust & Banking Corp now owns 100,797 shares of the oil and natural gas company's stock valued at $16,514,000 after buying an additional 4,085 shares during the period. Finally, Meiji Yasuda Asset Management Co Ltd. increased its holdings in Diamondback Energy by 8.3% during the fourth quarter. Meiji Yasuda Asset Management Co Ltd. now owns 3,906 shares of the oil and natural gas company's stock valued at $640,000 after buying an additional 300 shares during the last quarter. Institutional investors own 90.01% of the company's stock.

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Insider Buying and Selling at Diamondback Energy

In other Diamondback Energy news, Director Frank D. Tsuru purchased 2,000 shares of Diamondback Energy stock in a transaction dated Friday, February 28th. The shares were purchased 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 $896,802.30. This represents a 53.62 % increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available at this hyperlink. Company insiders own 0.48% of the company's stock.

Analyst Upgrades and Downgrades

FANG has been the subject of a number of recent research reports. Wells Fargo & Company cut their price objective on shares of Diamondback Energy from $219.00 to $215.00 and set an "overweight" rating for the company in a research report on Wednesday, March 12th. Williams Trading set a $190.00 price objective on Diamondback Energy in a research note on Wednesday, March 5th. Piper Sandler cut their price objective on Diamondback Energy from $252.00 to $232.00 and set an "overweight" rating for the company in a research note on Tuesday, December 17th. JPMorgan Chase & Co. decreased their target price on shares of Diamondback Energy from $212.00 to $167.00 and set an "overweight" rating on the stock in a research note on Thursday, March 13th. Finally, UBS Group upped their price target on shares of Diamondback Energy from $212.00 to $216.00 and gave the stock a "buy" rating in a research report on Thursday, February 13th. Four research analysts have rated the stock with a hold rating, eighteen have assigned a buy rating and two have issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $209.33.

Diamondback Energy Price Performance

Shares of Diamondback Energy stock traded up $0.51 during trading hours on Wednesday, reaching $161.38. The company's stock had a trading volume of 292,485 shares, compared to its average volume of 1,967,141. The firm has a 50 day moving average price of $157.93 and a 200-day moving average price of $169.57. The company has a debt-to-equity ratio of 0.31, a current ratio of 0.45 and a quick ratio of 0.42. The stock has a market cap of $46.71 billion, a P/E ratio of 9.22, a P/E/G ratio of 1.24 and a beta of 1.85. Diamondback Energy, Inc. has a one year low of $137.09 and a one year high of $214.50.

Diamondback Energy (NASDAQ:FANG - Get Free Report) last issued its quarterly earnings data on Tuesday, February 25th. The oil and natural gas company reported $3.64 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $3.57 by $0.07. The business had revenue of $3.71 billion for the quarter, compared to the consensus estimate of $3.55 billion. Diamondback Energy had a return on equity of 13.68% and a net margin of 33.64%. 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 disclosed a quarterly dividend, which was paid on Thursday, March 13th. Shareholders of record on Thursday, March 6th were paid a dividend of $1.00 per share. This represents a $4.00 annualized dividend and a yield of 2.48%. This is a positive change from Diamondback Energy's previous quarterly dividend of $0.90. The ex-dividend date of this dividend was Thursday, March 6th. Diamondback Energy's payout ratio is presently 25.32%.

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.