UniSuper Management Pty Ltd Grows Stock Holdings in Diamondback Energy, Inc. (NASDAQ:FANG)

UniSuper Management Pty Ltd grew its holdings in Diamondback Energy, Inc. (NASDAQ:FANG - Free Report) by 32.9% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 18,333 shares of the oil and natural gas company's stock after purchasing an additional 4,540 shares during the period. UniSuper Management Pty Ltd's holdings in Diamondback Energy were worth $3,003,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of FANG. Wintrust Investments LLC bought a new stake in shares of Diamondback Energy during the 4th quarter valued at approximately $28,000. R Squared Ltd acquired a new stake in Diamondback Energy during the fourth quarter worth approximately $29,000. UMB Bank n.a. increased 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 purchasing an additional 136 shares in the last quarter. Key Financial Inc lifted its stake in Diamondback Energy by 940.0% in the fourth quarter. Key Financial Inc now owns 208 shares of the oil and natural gas company's stock valued at $34,000 after buying an additional 188 shares during the period. Finally, Rakuten Securities Inc. boosted 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 buying an additional 106 shares in the last quarter. 90.01% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several analysts have recently weighed in on FANG shares. Raymond James lowered their price objective on shares of Diamondback Energy from $245.00 to $214.00 and set a "strong-buy" rating for the company in a research note on Wednesday, March 12th. Citigroup dropped their price objective on shares of Diamondback Energy from $195.00 to $157.00 and set a "neutral" rating on the stock in a report on Monday, March 17th. Mizuho raised their target price on Diamondback Energy from $201.00 to $204.00 and gave the company an "outperform" rating in a research note on Tuesday, February 25th. Williams Trading set a $190.00 price target on Diamondback Energy in a research note on Wednesday, March 5th. Finally, Wolfe Research raised Diamondback Energy from a "peer perform" rating to an "outperform" rating and set a $190.00 price objective for the company in a research note on Friday, January 3rd. Four 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. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $209.33.

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Insider Buying and Selling at Diamondback Energy

In other news, Director Frank D. Tsuru purchased 2,000 shares of the company's stock in a transaction dated Friday, February 28th. The shares were purchased at an average price of $156.51 per share, with a total value 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 represents 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 accessible through the SEC website. 0.48% of the stock is owned by corporate insiders.

Diamondback Energy Stock Performance

Shares of Diamondback Energy stock traded down $17.09 during trading hours on Thursday, hitting $144.40. 1,427,135 shares of the company's stock traded hands, compared to its average volume of 1,971,430. The stock has a market capitalization of $41.80 billion, a price-to-earnings ratio of 8.27, a PEG ratio of 1.24 and a beta of 1.85. Diamondback Energy, Inc. has a 12-month low of $137.09 and a 12-month high of $214.50. 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 company has a fifty day simple moving average of $157.61 and a 200-day simple moving average of $169.51.

Diamondback Energy (NASDAQ:FANG - Get Free Report) last posted its quarterly earnings data on Tuesday, February 25th. The oil and natural gas company reported $3.64 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $3.57 by $0.07. The business 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%. Equities research analysts anticipate that Diamondback Energy, Inc. will post 15.49 EPS for the current fiscal year.

Diamondback Energy Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, March 13th. Investors of record on Thursday, March 6th were issued a $1.00 dividend. This represents a $4.00 dividend on an annualized basis and a dividend yield of 2.77%. The ex-dividend date was Thursday, March 6th. This is a boost from Diamondback Energy's previous quarterly dividend of $0.90. Diamondback Energy's payout ratio is 25.32%.

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.