Uniplan Investment Counsel Inc. Buys 571 Shares of Diamondback Energy, Inc. (NASDAQ:FANG)

Uniplan Investment Counsel Inc. increased its stake in shares of Diamondback Energy, Inc. (NASDAQ:FANG) by 1.4% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 40,690 shares of the oil and natural gas company’s stock after purchasing an additional 571 shares during the quarter. Uniplan Investment Counsel Inc.’s holdings in Diamondback Energy were worth $6,666,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the stock. Virtu Financial LLC acquired a new stake in shares of Diamondback Energy during the 3rd quarter valued at $1,215,000. Fulcrum Equity Management acquired a new position in shares of Diamondback Energy in the third quarter valued at approximately $206,000. Pine Valley Investments Ltd Liability Co raised its holdings in Diamondback Energy by 11.3% in the 3rd quarter. Pine Valley Investments Ltd Liability Co now owns 2,027 shares of the oil and natural gas company’s stock valued at $349,000 after buying an additional 205 shares during the last quarter. World Investment Advisors LLC bought a new stake in Diamondback Energy during the 3rd quarter worth approximately $3,935,000. Finally, Wilmington Savings Fund Society FSB bought a new position in shares of Diamondback Energy during the third quarter valued at $138,000. Institutional investors own 90.01% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have commented on FANG. JPMorgan Chase & Co. cut 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. KeyCorp decreased their target price on shares of Diamondback Energy from $216.00 to $180.00 and set an “overweight” rating for the company in a research report on Monday. Morgan Stanley restated an “overweight” rating on shares of Diamondback Energy in a research report on Tuesday, April 15th. Truist Financial lifted their target price on shares of Diamondback Energy from $238.00 to $242.00 and gave the stock a “buy” rating in a research note on Thursday, April 17th. Finally, Mizuho increased their price target on Diamondback Energy from $201.00 to $204.00 and gave the stock an “outperform” rating in a report on Tuesday, February 25th. Three investment analysts have rated the stock with a hold rating, nineteen have given a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $204.29.

Diamondback Energy Price Performance

FANG stock opened at $132.35 on Tuesday. The company has a market capitalization of $38.92 billion, a P/E ratio of 7.58, a price-to-earnings-growth ratio of 1.24 and a beta of 1.44. Diamondback Energy, Inc. has a 52-week low of $114.00 and a 52-week high of $214.50. The business has a 50-day simple moving average of $146.67 and a two-hundred day simple moving average of $164.21. The company has a debt-to-equity ratio of 0.31, a quick ratio of 0.42 and a current ratio of 0.45.

Diamondback Energy (NASDAQ:FANG) last released its quarterly earnings results on Tuesday, February 25th. The oil and natural gas company reported $3.64 EPS for the quarter, beating analysts’ consensus estimates 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 return on equity of 13.68% and a net margin of 33.64%. Research analysts expect that Diamondback Energy, Inc. will post 15.49 EPS for the current fiscal year.

Diamondback Energy Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, March 13th. Shareholders of record on Thursday, March 6th were given a $1.00 dividend. This represents a $4.00 dividend on an annualized basis and a yield of 3.02%. This is an increase from Diamondback Energy’s previous quarterly dividend of $0.90. The ex-dividend date was Thursday, March 6th. Diamondback Energy’s dividend payout ratio is presently 25.32%.

Insider Buying and Selling 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 shares were bought at an average cost 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 position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 0.48% of the company’s stock.

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.