Royal London Asset Management Ltd. Grows Stock Position in Diamondback Energy, Inc. (NASDAQ:FANG)

Royal London Asset Management Ltd. raised its holdings in shares of Diamondback Energy, Inc. (NASDAQ:FANG - Free Report) by 8.5% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 116,064 shares of the oil and natural gas company's stock after acquiring an additional 9,113 shares during the quarter. Royal London Asset Management Ltd.'s holdings in Diamondback Energy were worth $19,015,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also made changes to their positions in FANG. Harvest Fund Management Co. Ltd increased its stake in Diamondback Energy by 103.8% in the fourth quarter. Harvest Fund Management Co. Ltd now owns 17,386 shares of the oil and natural gas company's stock valued at $2,707,000 after purchasing an additional 8,856 shares during the last quarter. Xponance Inc. boosted its holdings in shares of Diamondback Energy by 5.0% in the 4th quarter. Xponance Inc. now owns 24,639 shares of the oil and natural gas company's stock valued at $4,037,000 after buying an additional 1,168 shares in the last quarter. Boston Partners grew its position in shares of Diamondback Energy by 12.4% in the 4th quarter. Boston Partners now owns 5,169,742 shares of the oil and natural gas company's stock valued at $849,202,000 after buying an additional 571,820 shares during the last quarter. Kennondale Capital Management LLC acquired a new stake in Diamondback Energy during the 4th quarter worth $534,000. Finally, Axxcess Wealth Management LLC purchased a new stake in Diamondback Energy in the fourth quarter valued at $278,000. 90.01% of the stock is owned by institutional investors and hedge funds.

Remove Ads

Insiders Place Their Bets

In other Diamondback Energy news, Director Frank D. Tsuru bought 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, with a total value of $313,020.00. Following the transaction, the director now owns 5,730 shares in the company, valued at $896,802.30. This trade represents a 53.62 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. 0.48% of the stock is currently owned by insiders.

Diamondback Energy Trading Up 0.9 %

NASDAQ FANG traded up $1.49 during trading hours on Wednesday, hitting $163.09. 2,373,062 shares of the company's stock were exchanged, compared to its average volume of 1,878,957. The company has a debt-to-equity ratio of 0.31, a quick ratio of 0.42 and a current ratio of 0.45. The firm has a market capitalization of $47.20 billion, a P/E ratio of 9.34, a price-to-earnings-growth ratio of 1.24 and a beta of 1.85. The business's 50 day moving average is $159.82 and its 200-day moving average is $170.00. Diamondback Energy, Inc. has a 12-month low of $137.09 and a 12-month high of $214.50.

Diamondback Energy (NASDAQ:FANG - Get Free Report) last released its earnings results 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 firm had revenue of $3.71 billion during the quarter, compared to the consensus estimate of $3.55 billion. Diamondback Energy had a net margin of 33.64% and a return on equity of 13.68%. As a group, analysts anticipate that Diamondback Energy, Inc. will post 15.49 EPS for the current fiscal year.

Diamondback Energy Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, March 13th. Investors of record on Thursday, March 6th were issued a $1.00 dividend. The ex-dividend date of this dividend was Thursday, March 6th. This represents a $4.00 dividend on an annualized basis and a yield of 2.45%. This is a boost from Diamondback Energy's previous quarterly dividend of $0.90. Diamondback Energy's dividend payout ratio (DPR) is presently 25.32%.

Analysts Set New Price Targets

A number of analysts have recently commented on the company. Morgan Stanley lifted their target price on Diamondback Energy from $220.00 to $227.00 and gave the stock an "overweight" rating in a research report on Wednesday, February 19th. Williams Trading set a $190.00 price objective on Diamondback Energy in a report on Wednesday, March 5th. Piper Sandler reduced 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 report on Tuesday, December 17th. Raymond James lowered their price objective on shares of Diamondback Energy from $245.00 to $214.00 and set a "strong-buy" rating on the stock in a research report on Wednesday, March 12th. Finally, UBS Group upped their target price on shares of Diamondback Energy from $212.00 to $216.00 and gave the company a "buy" rating in a report on Thursday, February 13th. Four investment analysts have rated the stock with a hold rating, eighteen have issued a buy rating and two have assigned a strong buy rating to the company's stock. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $209.92.

About Diamondback Energy

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.