FIL Ltd Grows Position in Diamondback Energy, Inc. (NASDAQ:FANG)

FIL Ltd increased its holdings in Diamondback Energy, Inc. (NASDAQ:FANG - Free Report) by 7.1% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,249,721 shares of the oil and natural gas company's stock after purchasing an additional 82,482 shares during the quarter. FIL Ltd owned approximately 0.43% of Diamondback Energy worth $204,742,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently bought and sold shares of the business. Wintrust Investments LLC purchased a new stake in shares of Diamondback Energy in the 4th quarter worth about $28,000. R Squared Ltd purchased a new stake in Diamondback Energy in the fourth quarter worth about $29,000. UMB Bank n.a. lifted its holdings in Diamondback Energy by 247.3% in the fourth quarter. UMB Bank n.a. now owns 191 shares of the oil and natural gas company's stock worth $31,000 after buying an additional 136 shares during the period. Key Financial Inc boosted its position in Diamondback Energy by 940.0% during the 4th quarter. Key Financial Inc now owns 208 shares of the oil and natural gas company's stock valued at $34,000 after acquiring an additional 188 shares in the last quarter. Finally, Rakuten Securities Inc. grew its holdings in shares of 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 worth $45,000 after acquiring an additional 106 shares during the period. Hedge funds and other institutional investors own 90.01% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on the company. Citigroup upgraded Diamondback Energy from a "reduce" rating to a "buy" rating and lifted their price target for the company from $157.00 to $180.00 in a research report on Monday, April 7th. JPMorgan Chase & Co. dropped their target price on shares of Diamondback Energy from $167.00 to $166.00 and set an "overweight" rating on the stock in a report on Thursday. Piper Sandler decreased their price target on shares of Diamondback Energy from $252.00 to $232.00 and set an "overweight" rating for the company in a research note on Tuesday, December 17th. Barclays dropped their price objective on shares of Diamondback Energy from $210.00 to $200.00 and set an "overweight" rating on the stock in a research note on Tuesday, March 18th. Finally, Wells Fargo & Company reduced 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 note on Wednesday, March 12th. Three equities research analysts have rated the stock with a hold rating, nineteen have assigned a buy rating and two have given a strong buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $208.17.

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Insiders Place Their Bets

In related news, Director Frank D. Tsuru bought 2,000 shares of the company's stock in a transaction on Friday, February 28th. The shares were acquired at an average cost of $156.51 per share, for a total transaction of $313,020.00. Following the purchase, the director now directly 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 document filed with the Securities & Exchange Commission, which is available at this link. 0.48% of the stock is owned by insiders.

Diamondback Energy Price Performance

FANG traded down $0.93 during trading on Monday, hitting $128.08. 658,906 shares of the company traded hands, compared to its average volume of 2,673,953. Diamondback Energy, Inc. has a 1 year low of $114.00 and a 1 year high of $214.50. 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's 50-day simple moving average is $150.06 and its two-hundred day simple moving average is $166.26. The company has a market cap of $37.67 billion, a PE ratio of 7.33, a P/E/G ratio of 1.24 and a beta of 1.44.

Diamondback Energy (NASDAQ:FANG - Get Free Report) last released its quarterly earnings data on Tuesday, February 25th. The oil and natural gas company reported $3.64 EPS for the quarter, beating the consensus estimate of $3.57 by $0.07. Diamondback Energy had a net margin of 33.64% and a return on equity of 13.68%. The business had revenue of $3.71 billion during the quarter, compared to analyst estimates of $3.55 billion. As a group, sell-side analysts anticipate that Diamondback Energy, Inc. will post 15.49 earnings per share for the current fiscal year.

Diamondback Energy Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, March 13th. Stockholders of record on Thursday, March 6th were paid a $1.00 dividend. The ex-dividend date of this dividend was Thursday, March 6th. This represents a $4.00 annualized dividend and a dividend yield of 3.12%. This is an increase from Diamondback Energy's previous quarterly dividend of $0.90. Diamondback Energy's dividend payout ratio is currently 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.