Martin Investment Management LLC Purchases 1,109 Shares of Diamondback Energy, Inc. (NASDAQ:FANG)

Martin Investment Management LLC lifted its position in Diamondback Energy, Inc. (NASDAQ:FANG) by 4.4% in the 4th quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 26,410 shares of the oil and natural gas company’s stock after acquiring an additional 1,109 shares during the period. Diamondback Energy accounts for about 1.2% of Martin Investment Management LLC’s investment portfolio, making the stock its 29th largest holding. Martin Investment Management LLC’s holdings in Diamondback Energy were worth $4,327,000 at the end of the most recent reporting period.

Several other hedge funds also recently made changes to their positions in FANG. Wintrust Investments LLC purchased a new stake in shares of Diamondback Energy in the 4th quarter worth about $28,000. R Squared Ltd bought a new stake in shares of Diamondback Energy in the 4th quarter worth approximately $29,000. UMB Bank n.a. grew its stake in shares of Diamondback Energy by 247.3% in the 4th quarter. UMB Bank n.a. now owns 191 shares of the oil and natural gas company’s stock worth $31,000 after buying an additional 136 shares during the last quarter. Key Financial Inc grew its stake in shares of Diamondback Energy by 940.0% in the 4th quarter. Key Financial Inc now owns 208 shares of the oil and natural gas company’s stock worth $34,000 after buying an additional 188 shares during the last quarter. Finally, Rakuten Securities Inc. increased its position in Diamondback Energy by 62.4% during the 4th quarter. Rakuten Securities Inc. now owns 276 shares of the oil and natural gas company’s stock valued at $45,000 after buying an additional 106 shares in the last quarter. 90.01% of the stock is currently owned by institutional investors.

Diamondback Energy Stock Up 0.6 %

Shares of Diamondback Energy stock opened at $160.87 on Wednesday. The company has a debt-to-equity ratio of 0.31, a current ratio of 0.45 and a quick ratio of 0.42. The stock has a market cap of $46.56 billion, a price-to-earnings ratio of 9.21, a PEG ratio of 1.24 and a beta of 1.85. The firm’s 50-day moving average is $157.93 and its two-hundred day moving average is $169.57. Diamondback Energy, Inc. has a 1 year low of $137.09 and a 1 year high of $214.50.

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 analysts’ consensus estimates of $3.57 by $0.07. The firm had revenue of $3.71 billion for 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, research analysts expect that Diamondback Energy, Inc. will post 15.49 earnings per share for the current fiscal year.

Diamondback Energy Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, March 13th. Stockholders of record on Thursday, March 6th were given a $1.00 dividend. This represents a $4.00 annualized dividend and a dividend yield of 2.49%. This is a positive change from Diamondback Energy’s previous quarterly dividend of $0.90. The ex-dividend date of this dividend was Thursday, March 6th. Diamondback Energy’s payout ratio is presently 25.32%.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on FANG shares. Mizuho raised their price target on shares of Diamondback Energy from $201.00 to $204.00 and gave the company an “outperform” rating in a research report on Tuesday, February 25th. Raymond James dropped their target price on shares of Diamondback Energy from $245.00 to $214.00 and set a “strong-buy” rating on the stock in a report on Wednesday, March 12th. UBS Group increased their price target on Diamondback Energy from $212.00 to $216.00 and gave the company a “buy” rating in a report on Thursday, February 13th. Piper Sandler dropped their target price on Diamondback Energy from $252.00 to $232.00 and set an “overweight” rating on the stock in a research report on Tuesday, December 17th. Finally, Royal Bank of Canada reiterated an “outperform” rating and issued a $210.00 price objective on shares of Diamondback Energy in a research note on Thursday, January 23rd. Four equities research analysts have rated the stock with a hold rating, eighteen have assigned a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat.com, Diamondback Energy has a consensus rating of “Moderate Buy” and an average target price of $209.33.

Insider Buying and Selling

In other news, Director Frank D. Tsuru bought 2,000 shares of Diamondback Energy stock in a transaction on Friday, February 28th. The stock was acquired at an average cost of $156.51 per share, for a total transaction of $313,020.00. Following the completion of the acquisition, the director now owns 5,730 shares of the company’s stock, valued at $896,802.30. This trade represents a 53.62 % increase in their position. The purchase was disclosed in a filing with the SEC, which can be accessed through the SEC website. 0.48% of the stock is currently owned by company insiders.

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.