Wahed Invest LLC Grows Stock Holdings in Diamondback Energy, Inc. (NASDAQ:FANG)

Wahed Invest LLC lifted its position in shares of Diamondback Energy, Inc. (NASDAQ:FANG) by 3.3% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 4,722 shares of the oil and natural gas company’s stock after purchasing an additional 150 shares during the period. Wahed Invest LLC’s holdings in Diamondback Energy were worth $774,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. QRG Capital Management Inc. grew its position in shares of Diamondback Energy by 38.4% in the 4th quarter. QRG Capital Management Inc. now owns 11,675 shares of the oil and natural gas company’s stock worth $1,913,000 after buying an additional 3,238 shares during the last quarter. Swedbank AB boosted its holdings in Diamondback Energy by 28.0% in the fourth quarter. Swedbank AB now owns 198,283 shares of the oil and natural gas company’s stock valued at $32,485,000 after acquiring an additional 43,361 shares in the last quarter. Tokio Marine Asset Management Co. Ltd. boosted its holdings in Diamondback Energy by 631.1% in the fourth quarter. Tokio Marine Asset Management Co. Ltd. now owns 43,148 shares of the oil and natural gas company’s stock valued at $7,069,000 after acquiring an additional 37,246 shares in the last quarter. Franklin Resources Inc. increased its position in Diamondback Energy by 48.5% during the 3rd quarter. Franklin Resources Inc. now owns 146,870 shares of the oil and natural gas company’s stock valued at $28,008,000 after purchasing an additional 47,951 shares during the period. Finally, Tectonic Advisors LLC raised its holdings in Diamondback Energy by 38.2% in the 4th quarter. Tectonic Advisors LLC now owns 31,467 shares of the oil and natural gas company’s stock worth $5,155,000 after purchasing an additional 8,704 shares in the last quarter. 90.01% of the stock is owned by institutional investors.

Diamondback Energy Price Performance

NASDAQ FANG opened at $136.81 on Friday. Diamondback Energy, Inc. has a one year low of $114.00 and a one year high of $214.50. The stock has a 50-day moving average of $142.89 and a 200 day moving average of $161.10. 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 company has a market capitalization of $40.23 billion, a price-to-earnings ratio of 7.83, a PEG ratio of 1.24 and a beta of 1.44.

Diamondback Energy (NASDAQ:FANG) last announced its quarterly earnings results on Tuesday, February 25th. The oil and natural gas company reported $3.64 EPS for the quarter, topping analysts’ consensus estimates of $3.57 by $0.07. Diamondback Energy had a net margin of 33.64% and a return on equity of 13.68%. The firm had revenue of $3.71 billion during the quarter, compared to analyst estimates of $3.55 billion. On average, sell-side analysts forecast that Diamondback Energy, Inc. will post 15.49 EPS for the current year.

Diamondback Energy Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, March 13th. Investors of record on Thursday, March 6th were issued a $1.00 dividend. The ex-dividend date of this dividend was Thursday, March 6th. This represents a $4.00 annualized dividend and a dividend yield of 2.92%. This is a positive change from Diamondback Energy’s previous quarterly dividend of $0.90. Diamondback Energy’s payout ratio is presently 25.32%.

Insider Activity at Diamondback Energy

In other Diamondback Energy news, Director Frank D. Tsuru acquired 2,000 shares of the stock in a transaction dated Friday, February 28th. The shares were purchased at an average price of $156.51 per share, for a total transaction of $313,020.00. Following the purchase, the director now directly owns 5,730 shares of the company’s stock, valued at approximately $896,802.30. This trade represents a 53.62 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is accessible through this link. 0.70% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on the stock. Williams Trading set a $190.00 price target on shares of Diamondback Energy in a research report on Wednesday, March 5th. JPMorgan Chase & Co. reduced their target price on Diamondback Energy from $167.00 to $166.00 and set an “overweight” rating on the stock in a report on Thursday, April 10th. Bank of America upgraded Diamondback Energy from a “neutral” rating to a “buy” rating and lowered their target price for the company from $202.00 to $170.00 in a research note on Tuesday. Piper Sandler reduced their price target on Diamondback Energy from $240.00 to $234.00 and set an “overweight” rating on the stock in a research note on Tuesday, April 22nd. Finally, Mizuho raised their price objective on Diamondback Energy from $201.00 to $204.00 and gave the company an “outperform” rating in a research report on Tuesday, February 25th. Two analysts have rated the stock with a hold rating, nineteen have issued a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Buy” and an average target price of $197.70.

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.