2,514 Shares in Diamondback Energy, Inc. (NASDAQ:FANG) Acquired by Fox Run Management L.L.C.

Fox Run Management L.L.C. acquired a new stake in shares of Diamondback Energy, Inc. (NASDAQ:FANG) during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm acquired 2,514 shares of the oil and natural gas company’s stock, valued at approximately $412,000.

A number of other institutional investors have also recently added to or reduced their stakes in the business. KLP Kapitalforvaltning AS bought a new position in shares of Diamondback Energy during the 4th quarter valued at $10,665,000. Mizuho Securities USA LLC raised its stake in shares of Diamondback Energy by 45.8% in the 4th quarter. Mizuho Securities USA LLC now owns 17,711 shares of the oil and natural gas company’s stock valued at $2,902,000 after acquiring an additional 5,563 shares in the last quarter. Runnymede Capital Advisors Inc. bought a new stake in Diamondback Energy during the fourth quarter worth approximately $897,000. ZEGA Investments LLC acquired a new position in Diamondback Energy during the fourth quarter valued at approximately $6,132,000. Finally, Summit Global Investments raised its position in shares of Diamondback Energy by 325.7% in the fourth quarter. Summit Global Investments now owns 4,998 shares of the oil and natural gas company’s stock valued at $819,000 after purchasing an additional 3,824 shares during the period. 90.01% of the stock is currently owned by institutional investors and hedge funds.

Diamondback Energy Stock Up 0.4 %

Shares of NASDAQ FANG opened at $161.60 on Wednesday. Diamondback Energy, Inc. has a 52-week low of $137.09 and a 52-week high of $214.50. 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 business has a fifty day moving average of $159.82 and a two-hundred day moving average of $170.00. The stock has a market cap of $46.77 billion, a PE ratio of 9.25, a PEG ratio of 1.24 and a beta of 1.85.

Diamondback Energy (NASDAQ:FANG) last announced its quarterly earnings results 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 firm 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%. As a group, equities research analysts expect that Diamondback Energy, Inc. will post 15.49 earnings per share for the current fiscal year.

Diamondback Energy Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, March 13th. Investors of record on Thursday, March 6th were issued a dividend of $1.00 per share. This represents a $4.00 dividend on an annualized basis and a yield of 2.48%. This is a boost from Diamondback Energy’s previous quarterly dividend of $0.90. The ex-dividend date of this dividend was Thursday, March 6th. Diamondback Energy’s dividend payout ratio (DPR) is currently 25.32%.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on FANG shares. JPMorgan Chase & Co. lowered their target price on shares of Diamondback Energy from $212.00 to $167.00 and set an “overweight” rating on the stock in a research note on Thursday, March 13th. Raymond James lowered their price target on Diamondback Energy from $245.00 to $214.00 and set a “strong-buy” rating on the stock in a research report on Wednesday, March 12th. Piper Sandler cut their price objective on Diamondback Energy from $252.00 to $232.00 and set an “overweight” rating for the company in a research report on Tuesday, December 17th. UBS Group raised their target price on Diamondback Energy from $212.00 to $216.00 and gave the company a “buy” rating in a report on Thursday, February 13th. Finally, Citigroup cut their price target on Diamondback Energy from $195.00 to $157.00 and set a “neutral” rating for the company in a report on Monday, March 17th. Four investment analysts have rated the stock with a hold rating, eighteen have assigned a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Diamondback Energy has a consensus rating of “Moderate Buy” and a consensus target price of $209.92.

Insider Activity at Diamondback Energy

In other Diamondback Energy news, Director Frank D. Tsuru bought 2,000 shares of the stock in a transaction dated Friday, February 28th. The stock was bought at an average cost of $156.51 per share, for a total transaction of $313,020.00. Following the completion of the purchase, the director now owns 5,730 shares in the company, valued at $896,802.30. This represents a 53.62 % increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 0.48% of the company’s stock.

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.