Ilmarinen Mutual Pension Insurance Co Has $6.14 Million Stake in Diamondback Energy, Inc. (NASDAQ:FANG)

Ilmarinen Mutual Pension Insurance Co boosted its holdings in shares of Diamondback Energy, Inc. (NASDAQ:FANG - Free Report) by 87.5% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 37,500 shares of the oil and natural gas company's stock after buying an additional 17,500 shares during the quarter. Ilmarinen Mutual Pension Insurance Co's holdings in Diamondback Energy were worth $6,144,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of the stock. Russell Investments Group Ltd. raised its stake in shares of Diamondback Energy by 13.2% in the 4th quarter. Russell Investments Group Ltd. now owns 231,874 shares of the oil and natural gas company's stock valued at $37,988,000 after acquiring an additional 26,959 shares in the last quarter. Resona Asset Management Co. Ltd. bought a new position in shares of Diamondback Energy in the fourth quarter valued at approximately $8,971,000. Arete Wealth Advisors LLC lifted its stake in shares of Diamondback Energy by 924.4% in the fourth quarter. Arete Wealth Advisors LLC now owns 17,773 shares of the oil and natural gas company's stock worth $2,911,000 after buying an additional 16,038 shares during the last quarter. World Investment Advisors boosted its holdings in shares of Diamondback Energy by 0.7% during the 4th quarter. World Investment Advisors now owns 22,987 shares of the oil and natural gas company's stock worth $3,766,000 after buying an additional 164 shares during the period. Finally, SevenBridge Financial Group LLC grew its stake in Diamondback Energy by 10.8% in the 4th quarter. SevenBridge Financial Group LLC now owns 20,388 shares of the oil and natural gas company's stock valued at $3,303,000 after buying an additional 1,990 shares during the last quarter. 90.01% of the stock is currently owned by institutional investors.

Diamondback Energy Price Performance

FANG stock traded up $1.46 during trading on Friday, hitting $124.62. 1,246,937 shares of the stock traded hands, compared to its average volume of 2,050,278. 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 $36.65 billion, a price-to-earnings ratio of 7.13, a P/E/G ratio of 1.24 and a beta of 1.44. Diamondback Energy, Inc. has a one year low of $114.00 and a one year high of $214.50. The company has a 50 day simple moving average of $150.81 and a 200 day simple moving average of $166.63.

Diamondback Energy (NASDAQ:FANG - Get Free Report) last announced its earnings results on Tuesday, February 25th. The oil and natural gas company reported $3.64 EPS 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 business had revenue of $3.71 billion for the quarter, compared to the consensus estimate of $3.55 billion. Equities analysts expect that Diamondback Energy, Inc. will post 15.49 EPS for the current fiscal year.

Diamondback Energy Increases Dividend

The firm 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 was Thursday, March 6th. This is a positive change from Diamondback Energy's previous quarterly dividend of $0.90. This represents a $4.00 dividend on an annualized basis and a dividend yield of 3.21%. Diamondback Energy's dividend payout ratio (DPR) is 25.32%.

Insider Activity at Diamondback Energy

In related news, Director Frank D. Tsuru acquired 2,000 shares of the company's stock in a transaction that occurred on Friday, February 28th. The stock was purchased at an average price of $156.51 per share, for a total transaction of $313,020.00. Following the transaction, the director now directly owns 5,730 shares of the company's stock, valued at approximately $896,802.30. This trade represents a 53.62 % increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.48% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

FANG has been the subject of a number of research analyst reports. Williams Trading set a $190.00 target price on shares of Diamondback Energy in a research report on Wednesday, March 5th. JPMorgan Chase & Co. cut their price objective on Diamondback Energy from $167.00 to $166.00 and set an "overweight" rating for the company in a research report on Thursday. Wolfe Research raised Diamondback Energy from a "peer perform" rating to an "outperform" rating and set a $190.00 target price on the stock in a report on Friday, January 3rd. Piper Sandler cut their price target on Diamondback Energy from $252.00 to $232.00 and set an "overweight" rating for the company in a report on Tuesday, December 17th. Finally, Wells Fargo & Company lowered their price objective on shares of Diamondback Energy from $219.00 to $215.00 and set an "overweight" rating on the stock in a research note on Wednesday, March 12th. Three analysts have rated the stock with a hold rating, nineteen have issued a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $210.25.

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.