Diamondback Energy, Inc. (NASDAQ:FANG) Shares Acquired by Fisher Asset Management LLC

Fisher Asset Management LLC boosted its holdings in Diamondback Energy, Inc. (NASDAQ:FANG) by 0.3% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund owned 134,380 shares of the oil and natural gas company’s stock after buying an additional 442 shares during the quarter. Fisher Asset Management LLC owned 0.08% of Diamondback Energy worth $20,840,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. BKM Wealth Management LLC acquired a new position in shares of Diamondback Energy in the 4th quarter worth $27,000. BluePath Capital Management LLC purchased a new position in Diamondback Energy in the 3rd quarter worth about $28,000. Turtle Creek Wealth Advisors LLC acquired a new stake in Diamondback Energy during the 4th quarter worth about $34,000. CVA Family Office LLC purchased a new stake in Diamondback Energy during the fourth quarter valued at about $35,000. Finally, Cary Street Partners Investment Advisory LLC boosted its holdings in shares of Diamondback Energy by 559.0% in the third quarter. Cary Street Partners Investment Advisory LLC now owns 257 shares of the oil and natural gas company’s stock worth $40,000 after buying an additional 218 shares during the period. Institutional investors own 90.01% of the company’s stock.

Diamondback Energy Stock Performance

FANG opened at $201.50 on Monday. The company has a market cap of $35.94 billion, a PE ratio of 11.36 and a beta of 1.91. The company has a debt-to-equity ratio of 0.37, a quick ratio of 0.74 and a current ratio of 0.92. The stock has a 50-day moving average of $195.49 and a 200-day moving average of $170.84. Diamondback Energy, Inc. has a 52-week low of $123.41 and a 52-week high of $211.96.

Diamondback Energy (NASDAQ:FANG) last released its earnings results on Tuesday, April 30th. The oil and natural gas company reported $4.50 earnings per share for the quarter, topping analysts’ consensus estimates of $4.29 by $0.21. The firm had revenue of $2.23 billion during the quarter, compared to analyst estimates of $2.10 billion. Diamondback Energy had a net margin of 36.71% and a return on equity of 19.36%. The business’s revenue was up 15.7% on a year-over-year basis. During the same quarter in the previous year, the business earned $4.10 EPS. As a group, equities research analysts forecast that Diamondback Energy, Inc. will post 18.91 earnings per share for the current fiscal year.

Diamondback Energy Cuts Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, May 22nd. Shareholders of record on Wednesday, May 15th will be issued a $0.90 dividend. This represents a $3.60 dividend on an annualized basis and a yield of 1.79%. The ex-dividend date of this dividend is Tuesday, May 14th. Diamondback Energy’s dividend payout ratio (DPR) is currently 20.29%.

Wall Street Analyst Weigh In

FANG has been the subject of several research analyst reports. StockNews.com upgraded shares of Diamondback Energy from a “hold” rating to a “buy” rating in a research report on Thursday. Evercore ISI increased their target price on Diamondback Energy from $185.00 to $215.00 and gave the company an “outperform” rating in a report on Monday, March 25th. BMO Capital Markets raised their target price on Diamondback Energy from $167.00 to $175.00 and gave the stock a “market perform” rating in a research report on Tuesday, February 13th. KeyCorp upped their price target on Diamondback Energy from $210.00 to $225.00 and gave the company an “overweight” rating in a research report on Monday, April 22nd. Finally, Truist Financial raised their price objective on Diamondback Energy from $248.00 to $250.00 and gave the stock a “buy” rating in a research report on Monday, April 22nd. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating, fourteen have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, Diamondback Energy currently has a consensus rating of “Moderate Buy” and an average target price of $204.37.

Insiders Place Their Bets

In other news, COO Daniel N. Wesson sold 6,000 shares of the stock in a transaction that occurred on Tuesday, March 19th. The stock was sold at an average price of $192.17, for a total value of $1,153,020.00. Following the completion of the sale, the chief operating officer now directly owns 78,218 shares of the company’s stock, valued at $15,031,153.06. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, CFO Hof Matthew Kaes Van’t sold 12,000 shares of the business’s stock in a transaction dated Wednesday, March 20th. The shares were sold at an average price of $190.82, for a total transaction of $2,289,840.00. Following the transaction, the chief financial officer now owns 185,882 shares in the company, valued at approximately $35,470,003.24. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, COO Daniel N. Wesson sold 6,000 shares of the stock in a transaction dated Tuesday, March 19th. The shares were sold at an average price of $192.17, for a total transaction of $1,153,020.00. Following the completion of the sale, the chief operating officer now owns 78,218 shares of the company’s stock, valued at approximately $15,031,153.06. The disclosure for this sale can be found here. Insiders have sold a total of 57,675 shares of company stock valued at $11,311,096 in the last three months. Company insiders own 0.43% 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.