Diamondback Energy, Inc. (NASDAQ:FANG) Stock Holdings Boosted by PKO Investment Management Joint Stock Co

PKO Investment Management Joint Stock Co lifted its position in Diamondback Energy, Inc. (NASDAQ:FANG) by 5.5% during the first quarter, Holdings Channel reports. The institutional investor owned 5,800 shares of the oil and natural gas company’s stock after buying an additional 300 shares during the quarter. PKO Investment Management Joint Stock Co’s holdings in Diamondback Energy were worth $927,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. Asset Management One Co. Ltd. boosted its position in shares of Diamondback Energy by 9.7% during the 4th quarter. Asset Management One Co. Ltd. now owns 73,309 shares of the oil and natural gas company’s stock valued at $11,608,000 after purchasing an additional 6,508 shares in the last quarter. V Square Quantitative Management LLC boosted its holdings in Diamondback Energy by 24.9% during the fourth quarter. V Square Quantitative Management LLC now owns 2,375 shares of the oil and natural gas company’s stock worth $389,000 after buying an additional 474 shares in the last quarter. New Mexico Educational Retirement Board grew its position in Diamondback Energy by 2.3% in the fourth quarter. New Mexico Educational Retirement Board now owns 8,900 shares of the oil and natural gas company’s stock worth $1,458,000 after buying an additional 200 shares during the last quarter. Rhumbline Advisers grew its position in Diamondback Energy by 1.8% in the fourth quarter. Rhumbline Advisers now owns 341,231 shares of the oil and natural gas company’s stock worth $55,904,000 after buying an additional 5,882 shares during the last quarter. Finally, Principal Securities Inc. increased its holdings in shares of Diamondback Energy by 10.8% in the fourth quarter. Principal Securities Inc. now owns 5,530 shares of the oil and natural gas company’s stock valued at $906,000 after buying an additional 540 shares in the last quarter. Institutional investors and hedge funds own 90.01% of the company’s stock.

Diamondback Energy Stock Down 2.5%

FANG stock opened at $151.03 on Tuesday. The firm has a market cap of $44.13 billion, a PE ratio of 8.65, a PEG ratio of 1.24 and a beta of 1.06. Diamondback Energy, Inc. has a 1 year low of $114.00 and a 1 year high of $214.50. The company has a fifty day simple moving average of $137.63 and a 200 day simple moving average of $152.15. The company has a current ratio of 0.45, a quick ratio of 0.42 and a debt-to-equity ratio of 0.31.

Diamondback Energy (NASDAQ:FANG) last released its quarterly earnings results on Monday, May 5th. The oil and natural gas company reported $4.54 EPS for the quarter, beating analysts’ consensus estimates of $3.67 by $0.87. The company had revenue of $4.05 billion for the quarter, compared to analyst estimates of $3.58 billion. Diamondback Energy had a net margin of 33.64% and a return on equity of 13.68%. The company’s quarterly revenue was up 81.8% compared to the same quarter last year. During the same quarter last year, the firm posted $4.50 earnings per share. Sell-side analysts anticipate that Diamondback Energy, Inc. will post 15.49 EPS for the current fiscal year.

Diamondback Energy Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, May 22nd. Stockholders of record on Thursday, May 15th were given a $1.00 dividend. This represents a $4.00 annualized dividend and a dividend yield of 2.65%. The ex-dividend date of this dividend was Thursday, May 15th. Diamondback Energy’s dividend payout ratio is currently 24.46%.

Insider Transactions at Diamondback Energy

In other news, President Hof Matthew Kaes Van’t sold 10,000 shares of the firm’s stock in a transaction on Monday, May 12th. The shares were sold at an average price of $142.69, for a total value of $1,426,900.00. Following the sale, the president now owns 120,645 shares in the company, valued at approximately $17,214,835.05. This trade represents a 7.65% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 0.70% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on FANG. Piper Sandler decreased their target price on Diamondback Energy from $234.00 to $225.00 and set an “overweight” rating on the stock in a report on Tuesday, May 13th. Mizuho cut their price objective on Diamondback Energy from $186.00 to $179.00 and set an “outperform” rating on the stock in a report on Tuesday, May 13th. Truist Financial raised their target price on shares of Diamondback Energy from $238.00 to $242.00 and gave the stock a “buy” rating in a report on Thursday, April 17th. Wells Fargo & Company boosted their price target on shares of Diamondback Energy from $207.00 to $208.00 and gave the company an “overweight” rating in a report on Monday. Finally, Bank of America raised their price objective on shares of Diamondback Energy from $165.00 to $170.00 and gave the stock a “buy” rating in a research note on Friday, May 23rd. Two research analysts have rated the stock with a hold rating, nineteen have given a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Buy” and an average target price of $193.13.

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.