Harvey Capital Management Inc. Has $576,000 Stake in Diamondback Energy, Inc. (NASDAQ:FANG)

Harvey Capital Management Inc. lessened its position in Diamondback Energy, Inc. (NASDAQ:FANG) by 7.4% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 3,517 shares of the oil and natural gas company’s stock after selling 281 shares during the period. Harvey Capital Management Inc.’s holdings in Diamondback Energy were worth $576,000 as of its most recent filing with the SEC.

Several other hedge funds also recently bought and sold shares of FANG. Assenagon Asset Management S.A. lifted its holdings in Diamondback Energy by 1,153.0% during the fourth 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 acquiring an additional 1,042,505 shares in the last quarter. Zimmer Partners LP bought a new stake in Diamondback Energy during the 3rd quarter worth approximately $87,924,000. Holocene Advisors LP raised its holdings in Diamondback Energy by 95.3% during the 3rd quarter. Holocene Advisors LP now owns 938,474 shares of the oil and natural gas company’s stock worth $161,793,000 after buying an additional 457,896 shares during the period. Diamond Hill Capital Management Inc. lifted its stake in Diamondback Energy by 25.6% in the third quarter. Diamond Hill Capital Management Inc. now owns 2,158,910 shares of the oil and natural gas company’s stock valued at $372,196,000 after buying an additional 439,579 shares in the last quarter. Finally, International Assets Investment Management LLC lifted 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 valued at $58,620,000 after buying an additional 338,050 shares in the last quarter. 90.01% of the stock is currently owned by institutional investors and hedge funds.

Diamondback Energy Trading Up 0.2 %

Diamondback Energy stock opened at $162.01 on Wednesday. The stock has a 50-day simple moving average of $167.26 and a 200 day simple moving average of $178.89. The stock has a market capitalization of $47.31 billion, a P/E ratio of 9.27, a PEG ratio of 1.24 and a beta of 1.86. The company has a debt-to-equity ratio of 0.31, a quick ratio of 0.42 and a current ratio of 0.45. Diamondback Energy, Inc. has a 52 week low of $152.00 and a 52 week high of $214.50.

Diamondback Energy Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, November 21st. Stockholders of record on Thursday, November 14th were paid a dividend of $0.90 per share. The ex-dividend date of this dividend was Thursday, November 14th. This represents a $3.60 annualized dividend and a dividend yield of 2.22%. Diamondback Energy’s dividend payout ratio is currently 20.61%.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on the stock. KeyCorp dropped their price objective on shares of Diamondback Energy from $225.00 to $216.00 and set an “overweight” rating on the stock in a report on Wednesday, October 16th. StockNews.com raised Diamondback Energy from a “sell” rating to a “hold” rating in a research note on Wednesday, November 13th. UBS Group reduced their price objective on Diamondback Energy from $235.00 to $212.00 and set a “buy” rating for the company in a research report on Monday, December 9th. Truist Financial increased their price objective on Diamondback Energy from $230.00 to $236.00 and gave the stock a “buy” rating in a report on Monday, January 13th. Finally, Piper Sandler cut their target price on Diamondback Energy from $252.00 to $232.00 and set an “overweight” rating on the stock in a research note on Tuesday, December 17th. Four research analysts have rated the stock with a hold rating, eighteen have given a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $215.00.

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.