Victory Capital Management Inc. Has $123.56 Million Stake in Diamondback Energy, Inc. (NASDAQ:FANG)

Victory Capital Management Inc. boosted its stake in Diamondback Energy, Inc. (NASDAQ:FANG) by 0.7% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 754,217 shares of the oil and natural gas company’s stock after buying an additional 5,113 shares during the quarter. Victory Capital Management Inc.’s holdings in Diamondback Energy were worth $123,563,000 at the end of the most recent quarter.

Several other institutional investors have also bought and sold shares of FANG. Assenagon Asset Management S.A. boosted its stake in Diamondback Energy by 1,153.0% in the 4th quarter. Assenagon Asset Management S.A. now owns 1,132,918 shares of the oil and natural gas company’s stock valued at $185,606,000 after buying an additional 1,042,505 shares in the last quarter. Zimmer Partners LP acquired a new stake in Diamondback Energy in the 3rd quarter valued at $87,924,000. Bank of New York Mellon Corp boosted its stake in Diamondback Energy by 13.7% in the 4th quarter. Bank of New York Mellon Corp now owns 4,163,070 shares of the oil and natural gas company’s stock valued at $682,036,000 after buying an additional 502,916 shares in the last quarter. Holocene Advisors LP boosted its stake in Diamondback Energy by 95.3% in the 3rd quarter. Holocene Advisors LP now owns 938,474 shares of the oil and natural gas company’s stock valued at $161,793,000 after buying an additional 457,896 shares in the last quarter. Finally, Diamond Hill Capital Management Inc. boosted its stake in Diamondback Energy by 25.6% in the 3rd quarter. Diamond Hill Capital Management Inc. now owns 2,158,910 shares of the oil and natural gas company’s stock valued at $372,196,000 after buying an additional 439,579 shares in the last quarter. Institutional investors and hedge funds own 90.01% of the company’s stock.

Insider Buying and Selling

In other Diamondback Energy news, Director Frank D. Tsuru bought 2,000 shares of the firm’s stock in a transaction on Friday, February 28th. The stock was purchased at an average cost of $156.51 per share, with a total value of $313,020.00. Following the completion of the purchase, the director now owns 5,730 shares in the company, valued at approximately $896,802.30. The trade was a 53.62 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. 0.48% of the stock is owned by insiders.

Diamondback Energy Stock Down 1.6 %

Shares of Diamondback Energy stock opened at $142.70 on Thursday. The company has a quick ratio of 0.42, a current ratio of 0.45 and a debt-to-equity ratio of 0.31. Diamondback Energy, Inc. has a 12 month low of $139.57 and a 12 month high of $214.50. The business has a fifty day simple moving average of $164.70 and a 200 day simple moving average of $174.12. The stock has a market cap of $41.30 billion, a PE ratio of 8.17, a price-to-earnings-growth ratio of 1.24 and a beta of 1.86.

Diamondback Energy (NASDAQ:FANG) last announced its quarterly earnings data 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 return on equity of 13.68% and a net margin of 33.64%. The business had revenue of $3.71 billion during the quarter, compared to analysts’ expectations of $3.55 billion. Research analysts predict that Diamondback Energy, Inc. will post 15.49 EPS for the current year.

Diamondback Energy Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, March 13th. Investors of record on Thursday, March 6th will be paid a dividend of $1.00 per share. The ex-dividend date is Thursday, March 6th. This is a boost from Diamondback Energy’s previous quarterly dividend of $0.90. This represents a $4.00 dividend on an annualized basis and a dividend yield of 2.80%. Diamondback Energy’s payout ratio is 25.32%.

Analyst Upgrades and Downgrades

Several brokerages recently commented on FANG. Truist Financial boosted their price target on Diamondback Energy from $236.00 to $238.00 and gave the company a “buy” rating in a research note on Wednesday, February 19th. UBS Group lifted their price objective on Diamondback Energy from $212.00 to $216.00 and gave the company a “buy” rating in a research report on Thursday, February 13th. Wolfe Research upgraded Diamondback Energy from a “peer perform” rating to an “outperform” rating and set a $190.00 price objective for the company in a research report on Friday, January 3rd. Mizuho lifted 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. Finally, Wells Fargo & Company lifted their price objective on Diamondback Energy from $218.00 to $219.00 and gave the company an “overweight” rating in a research report on Tuesday, December 17th. Four equities research analysts have rated the stock with a hold rating, eighteen have given a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $216.09.

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.