Diamondback Energy, Inc. (NASDAQ:FANG) Stock Position Lifted by New York Life Investment Management LLC

New York Life Investment Management LLC lifted its stake in shares of Diamondback Energy, Inc. (NASDAQ:FANG) by 5.4% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 25,172 shares of the oil and natural gas company’s stock after purchasing an additional 1,297 shares during the quarter. New York Life Investment Management LLC’s holdings in Diamondback Energy were worth $4,124,000 at the end of the most recent reporting period.

Several other institutional investors have also bought and sold shares of FANG. R Squared Ltd bought a new stake in shares of Diamondback Energy during the 4th quarter worth about $29,000. UMB Bank n.a. increased its stake in shares of Diamondback Energy by 247.3% during the fourth quarter. UMB Bank n.a. now owns 191 shares of the oil and natural gas company’s stock valued at $31,000 after acquiring an additional 136 shares during the period. Key Financial Inc raised its holdings in Diamondback Energy by 940.0% during the fourth quarter. Key Financial Inc now owns 208 shares of the oil and natural gas company’s stock worth $34,000 after purchasing an additional 188 shares in the last quarter. Ashton Thomas Securities LLC acquired a new stake in Diamondback Energy in the third quarter worth approximately $52,000. Finally, Synergy Asset Management LLC bought a new position in Diamondback Energy during the 4th quarter valued at $67,000. Institutional investors and hedge funds own 90.01% of the company’s stock.

Diamondback Energy Price Performance

Shares of FANG opened at $158.96 on Friday. 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 cap of $46.41 billion, a PE ratio of 9.10, a PEG ratio of 1.24 and a beta of 1.86. Diamondback Energy, Inc. has a twelve month low of $151.00 and a twelve month high of $214.50. The firm’s 50 day moving average price is $165.42 and its 200 day moving average price is $175.19.

Diamondback Energy (NASDAQ:FANG) last released its quarterly earnings data on Tuesday, February 25th. The oil and natural gas company reported $3.64 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.57 by $0.07. The business had revenue of $3.71 billion during the quarter, compared to analyst estimates of $3.55 billion. Diamondback Energy had a net margin of 33.64% and a return on equity of 13.68%. As a group, research analysts expect that Diamondback Energy, Inc. will post 15.49 EPS for the current fiscal year.

Diamondback Energy Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, March 13th. Stockholders of record on Thursday, March 6th will be issued a dividend of $1.00 per share. This is a positive change from Diamondback Energy’s previous quarterly dividend of $0.90. The ex-dividend date is Thursday, March 6th. This represents a $4.00 dividend on an annualized basis and a dividend yield of 2.52%. Diamondback Energy’s dividend payout ratio is currently 25.32%.

Analysts Set New Price Targets

A number of analysts have recently commented on FANG shares. Wells Fargo & Company upped their price objective on Diamondback Energy from $218.00 to $219.00 and gave the company an “overweight” rating in a report on Tuesday, December 17th. StockNews.com raised shares of Diamondback Energy from a “sell” rating to a “hold” rating in a report on Wednesday, November 13th. Wolfe Research upgraded shares of Diamondback Energy from a “peer perform” rating to an “outperform” rating and set a $190.00 target price on the stock in a report on Friday, January 3rd. Royal Bank of Canada restated an “outperform” rating and set a $210.00 target price on shares of Diamondback Energy in a report on Thursday, January 23rd. Finally, Mizuho upped their price target on Diamondback Energy from $201.00 to $204.00 and gave the company an “outperform” rating in a report on Tuesday, February 25th. 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 stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $216.09.

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.