PFG Investments LLC Boosts Holdings in Diamondback Energy, Inc. (NASDAQ:FANG)

PFG Investments LLC increased its position in Diamondback Energy, Inc. (NASDAQ:FANGFree Report) by 60.0% in the 4th quarter, Holdings Channel.com reports. The firm owned 2,025 shares of the oil and natural gas company’s stock after buying an additional 759 shares during the quarter. PFG Investments LLC’s holdings in Diamondback Energy were worth $332,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also made changes to their positions in the company. Assenagon Asset Management S.A. lifted its holdings in Diamondback Energy by 1,153.0% in the 4th quarter. Assenagon Asset Management S.A. now owns 1,132,918 shares of the oil and natural gas company’s stock worth $185,606,000 after buying an additional 1,042,505 shares in the last quarter. Zimmer Partners LP acquired a new position in shares of Diamondback Energy in the third quarter worth about $87,924,000. Holocene Advisors LP boosted its holdings in Diamondback Energy by 95.3% in the third quarter. Holocene Advisors LP now owns 938,474 shares of the oil and natural gas company’s stock valued at $161,793,000 after purchasing an additional 457,896 shares during the last quarter. Diamond Hill Capital Management Inc. lifted its position in shares of Diamondback Energy by 25.6% during the third quarter. Diamond Hill Capital Management Inc. now owns 2,158,910 shares of the oil and natural gas company’s stock worth $372,196,000 after purchasing an additional 439,579 shares during the last quarter. Finally, International Assets Investment Management LLC grew its stake in Diamondback Energy by 17,151.2% in the third quarter. International Assets Investment Management LLC now owns 340,021 shares of the oil and natural gas company’s stock worth $58,620,000 after purchasing an additional 338,050 shares in the last quarter. 90.01% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research firms have commented on FANG. UBS Group reduced their target price on Diamondback Energy from $235.00 to $212.00 and set a “buy” rating on the stock in a report on Monday, December 9th. The Goldman Sachs Group assumed coverage on Diamondback Energy in a research note on Monday, December 2nd. They set a “buy” rating and a $227.00 price objective on the stock. Wolfe Research upgraded shares of Diamondback Energy from a “peer perform” rating to an “outperform” rating and set a $190.00 target price for the company in a research note on Friday, January 3rd. Truist Financial raised their price target on shares of Diamondback Energy from $230.00 to $236.00 and gave the stock a “buy” rating in a research report on Monday, January 13th. Finally, StockNews.com raised shares of Diamondback Energy from a “sell” rating to a “hold” rating in a research report on Wednesday, November 13th. Four research analysts have rated the stock with a hold rating, eighteen have assigned a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $215.00.

Read Our Latest Research Report on FANG

Insiders Place Their Bets

In other news, Director Mark Lawrence Plaumann sold 1,150 shares of Diamondback Energy stock in a transaction that occurred on Wednesday, November 13th. The shares were sold at an average price of $181.00, for a total value of $208,150.00. Following the transaction, the director now owns 4,712 shares of the company’s stock, valued at $852,872. The trade was a 19.62 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this link. 0.48% of the stock is owned by company insiders.

Diamondback Energy Stock Down 0.3 %

FANG stock opened at $170.41 on Friday. The firm’s 50-day moving average is $169.65 and its two-hundred day moving average is $181.40. The company has a market capitalization of $49.76 billion, a price-to-earnings ratio of 9.75, a price-to-earnings-growth ratio of 1.44 and a beta of 1.88. Diamondback Energy, Inc. has a 52 week low of $147.93 and a 52 week 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.

Diamondback Energy (NASDAQ:FANGGet Free Report) last released its earnings results on Monday, November 4th. The oil and natural gas company reported $3.38 earnings per share for the quarter, missing analysts’ consensus estimates of $4.62 by ($1.24). Diamondback Energy had a return on equity of 13.68% and a net margin of 33.64%. The firm had revenue of $2.65 billion during the quarter, compared to analyst estimates of $2.43 billion. During the same quarter last year, the company earned $5.49 earnings per share. The business’s revenue for the quarter was up 13.0% on a year-over-year basis. On average, analysts forecast that Diamondback Energy, Inc. will post 15.58 earnings per share for the current fiscal year.

Diamondback Energy Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, November 21st. Investors of record on Thursday, November 14th were issued a dividend of $0.90 per share. This represents a $3.60 dividend on an annualized basis and a yield of 2.11%. The ex-dividend date of this dividend was Thursday, November 14th. Diamondback Energy’s payout ratio is currently 20.61%.

About Diamondback Energy

(Free Report)

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.

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Institutional Ownership by Quarter for Diamondback Energy (NASDAQ:FANG)

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