Diamondback Energy, Inc. (NASDAQ:FANG) Shares Acquired by EULAV Asset Management

EULAV Asset Management boosted its position in Diamondback Energy, Inc. (NASDAQ:FANG) by 11.8% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 57,000 shares of the oil and natural gas company’s stock after purchasing an additional 6,000 shares during the period. EULAV Asset Management’s holdings in Diamondback Energy were worth $9,338,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors also recently added to or reduced their stakes in the company. Tobam purchased a new position in shares of Diamondback Energy in the 4th quarter valued at about $626,000. Sumitomo Mitsui DS Asset Management Company Ltd increased its holdings in Diamondback Energy by 18.5% in the fourth quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 21,880 shares of the oil and natural gas company’s stock valued at $3,585,000 after buying an additional 3,413 shares in the last quarter. Sumitomo Mitsui Trust Group Inc. lifted its position in shares of Diamondback Energy by 5.2% during the 4th quarter. Sumitomo Mitsui Trust Group Inc. now owns 456,296 shares of the oil and natural gas company’s stock valued at $74,755,000 after acquiring an additional 22,689 shares during the period. Strategic Financial Concepts LLC purchased a new stake in shares of Diamondback Energy during the 4th quarter worth approximately $13,804,000. Finally, Measured Wealth Private Client Group LLC grew its holdings in shares of Diamondback Energy by 28.5% in the 4th quarter. Measured Wealth Private Client Group LLC now owns 1,976 shares of the oil and natural gas company’s stock worth $324,000 after acquiring an additional 438 shares during the period. Hedge funds and other institutional investors own 90.01% of the company’s stock.

Analyst Ratings Changes

FANG has been the topic of a number of research analyst reports. KeyCorp decreased their target price on Diamondback Energy from $225.00 to $216.00 and set an “overweight” rating on the stock in a research report on Wednesday, October 16th. UBS Group lowered their price objective on shares of Diamondback Energy from $235.00 to $212.00 and set a “buy” rating on the stock in a research note on Monday, December 9th. Truist Financial lifted their target price 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. The Goldman Sachs Group assumed coverage on shares of Diamondback Energy in a research report on Monday, December 2nd. They issued a “buy” rating and a $227.00 price target on the stock. Finally, Susquehanna reduced their target price on Diamondback Energy from $237.00 to $233.00 and set a “positive” rating on the stock in a research note on Friday, October 18th. Four equities research analysts have rated the stock with a hold rating, eighteen have issued a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $215.00.

Insider Transactions at Diamondback Energy

In related news, Director Mark Lawrence Plaumann sold 1,150 shares of the company’s stock in a transaction on Wednesday, November 13th. The shares were sold at an average price of $181.00, for a total transaction of $208,150.00. Following the completion of the sale, the director now directly owns 4,712 shares of the company’s stock, valued at approximately $852,872. This represents a 19.62 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 0.48% of the company’s stock.

Diamondback Energy Trading Down 1.2 %

FANG stock opened at $158.13 on Friday. Diamondback Energy, Inc. has a 52 week low of $151.25 and a 52 week high of $214.50. The company has a market cap of $46.17 billion, a price-to-earnings ratio of 9.05, a PEG ratio of 1.28 and a beta of 1.86. The company has a quick ratio of 0.42, a current ratio of 0.45 and a debt-to-equity ratio of 0.31. The business has a fifty day simple moving average of $167.93 and a 200-day simple moving average of $179.75.

Diamondback Energy Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, November 21st. Stockholders of record on Thursday, November 14th were paid a $0.90 dividend. This represents a $3.60 annualized dividend and a dividend yield of 2.28%. The ex-dividend date of this dividend was Thursday, November 14th. Diamondback Energy’s dividend payout ratio is currently 20.61%.

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.