Diamondback Energy, Inc. (NASDAQ:FANG) Shares Acquired by iA Global Asset Management Inc.

iA Global Asset Management Inc. boosted its stake in shares of Diamondback Energy, Inc. (NASDAQ:FANG - Free Report) by 17.6% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 31,472 shares of the oil and natural gas company's stock after acquiring an additional 4,713 shares during the quarter. iA Global Asset Management Inc.'s holdings in Diamondback Energy were worth $5,156,000 at the end of the most recent reporting period.

A number of other large investors also recently bought and sold shares of FANG. Lakewood Asset Management LLC boosted its holdings in Diamondback Energy by 0.5% during the fourth quarter. Lakewood Asset Management LLC now owns 11,340 shares of the oil and natural gas company's stock worth $1,858,000 after buying an additional 60 shares in the last quarter. Magnolia Capital Advisors LLC boosted its stake in shares of Diamondback Energy by 2.0% during the 4th quarter. Magnolia Capital Advisors LLC now owns 3,247 shares of the oil and natural gas company's stock worth $532,000 after acquiring an additional 64 shares in the last quarter. Barden Capital Management Inc. grew its position in shares of Diamondback Energy by 1.5% during the 4th quarter. Barden Capital Management Inc. now owns 4,380 shares of the oil and natural gas company's stock valued at $718,000 after acquiring an additional 64 shares during the period. Citizens Financial Group Inc. RI increased its stake in shares of Diamondback Energy by 2.4% in the 3rd quarter. Citizens Financial Group Inc. RI now owns 2,795 shares of the oil and natural gas company's stock valued at $482,000 after purchasing an additional 65 shares in the last quarter. Finally, Greenleaf Trust raised its holdings in Diamondback Energy by 1.0% in the 4th quarter. Greenleaf Trust now owns 6,892 shares of the oil and natural gas company's stock worth $1,129,000 after purchasing an additional 66 shares during the period. 90.01% of the stock is owned by institutional investors and hedge funds.

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Insider Activity at Diamondback Energy

In related news, Director Frank D. Tsuru purchased 2,000 shares of the company's stock in a transaction 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 transaction, the director now directly 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 acquisition was disclosed in a document filed with the SEC, which is available at this link. 0.48% of the stock is owned by insiders.

Diamondback Energy Trading Up 0.4 %

NASDAQ:FANG traded up $0.59 on Tuesday, hitting $161.60. The stock had a trading volume of 2,323,798 shares, compared to its average volume of 1,873,848. The company has a fifty day moving average price of $160.14 and a two-hundred day moving average price of $170.13. The stock has a market cap of $46.77 billion, a price-to-earnings ratio of 9.25, a PEG ratio of 1.24 and a beta of 1.85. The company has a quick ratio of 0.42, a current ratio of 0.45 and a debt-to-equity ratio of 0.31. Diamondback Energy, Inc. has a 1-year low of $137.09 and a 1-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 for the quarter, topping the consensus estimate 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 during the quarter, compared to analyst estimates of $3.55 billion. Equities research analysts expect that Diamondback Energy, Inc. will post 15.49 earnings per share for the current fiscal year.

Diamondback Energy Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, March 13th. Investors of record on Thursday, March 6th were given a dividend of $1.00 per share. This represents a $4.00 dividend on an annualized basis and a dividend yield of 2.48%. This is an increase from Diamondback Energy's previous quarterly dividend of $0.90. The ex-dividend date of this dividend was Thursday, March 6th. Diamondback Energy's dividend payout ratio (DPR) is presently 25.32%.

Wall Street Analysts Forecast Growth

Several analysts have commented on FANG shares. Mizuho raised their price objective on Diamondback Energy from $201.00 to $204.00 and gave the company an "outperform" rating in a report on Tuesday, February 25th. Williams Trading set a $190.00 price target on shares of Diamondback Energy in a research note on Wednesday, March 5th. Piper Sandler decreased their price objective on shares of Diamondback Energy from $252.00 to $232.00 and set an "overweight" rating on the stock in a report on Tuesday, December 17th. Citigroup cut their target price on shares of Diamondback Energy from $195.00 to $157.00 and set a "neutral" rating for the company in a research note on Monday, March 17th. Finally, UBS Group raised their price target on shares of Diamondback Energy from $212.00 to $216.00 and gave the company a "buy" rating in a research note on Thursday, February 13th. Four research analysts have rated the stock with a hold rating, eighteen have given a buy rating and two have issued a strong buy rating to the company's stock. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $209.92.

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.