Fisher Asset Management LLC Reduces Position in Diamondback Energy, Inc. (NASDAQ:FANG)

Fisher Asset Management LLC lessened its holdings in shares of Diamondback Energy, Inc. (NASDAQ:FANG) by 9.0% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 139,002 shares of the oil and natural gas company’s stock after selling 13,786 shares during the period. Fisher Asset Management LLC’s holdings in Diamondback Energy were worth $22,773,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of FANG. Financial Advocates Investment Management boosted its holdings in shares of Diamondback Energy by 3.0% in the third quarter. Financial Advocates Investment Management now owns 1,907 shares of the oil and natural gas company’s stock valued at $329,000 after purchasing an additional 55 shares during the period. US Bancorp DE boosted its holdings in shares of Diamondback Energy by 1.9% in the third quarter. US Bancorp DE now owns 25,715 shares of the oil and natural gas company’s stock valued at $4,433,000 after purchasing an additional 472 shares during the period. Farther Finance Advisors LLC boosted its holdings in shares of Diamondback Energy by 136.6% in the third quarter. Farther Finance Advisors LLC now owns 1,822 shares of the oil and natural gas company’s stock valued at $314,000 after purchasing an additional 1,052 shares during the period. Chicago Partners Investment Group LLC boosted its holdings in shares of Diamondback Energy by 2.0% in the third quarter. Chicago Partners Investment Group LLC now owns 4,584 shares of the oil and natural gas company’s stock valued at $830,000 after purchasing an additional 91 shares during the period. Finally, Janney Montgomery Scott LLC boosted its holdings in shares of Diamondback Energy by 8.0% in the third quarter. Janney Montgomery Scott LLC now owns 168,087 shares of the oil and natural gas company’s stock valued at $28,978,000 after purchasing an additional 12,521 shares during the period. Hedge funds and other institutional investors own 90.01% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on FANG shares. Raymond James boosted their price target on Diamondback Energy from $237.00 to $256.00 and gave the company a “strong-buy” rating in a report on Thursday, January 23rd. Mizuho boosted their price target on Diamondback Energy from $201.00 to $204.00 and gave the company an “outperform” rating in a report on Tuesday, February 25th. Morgan Stanley boosted their price objective on shares of Diamondback Energy from $220.00 to $227.00 and gave the stock an “overweight” rating in a research note on Wednesday, February 19th. StockNews.com upgraded Diamondback Energy from a “sell” rating to a “hold” rating in a report on Wednesday, November 13th. Finally, Truist Financial upped their target price on Diamondback Energy from $236.00 to $238.00 and gave the stock a “buy” rating in a report on Wednesday, February 19th. Four investment analysts have rated the stock with a hold rating, eighteen have assigned a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $216.09.

Diamondback Energy Stock Performance

Shares of FANG stock opened at $148.00 on Tuesday. The firm has a market capitalization of $42.84 billion, a price-to-earnings ratio of 8.47, a price-to-earnings-growth ratio of 1.24 and a beta of 1.86. The company has a debt-to-equity ratio of 0.31, a current ratio of 0.45 and a quick ratio of 0.42. The business has a fifty day moving average of $165.25 and a 200 day moving average of $174.70. Diamondback Energy, Inc. has a 1 year low of $147.70 and a 1 year high of $214.50.

Diamondback Energy (NASDAQ:FANG) last issued its earnings results on Tuesday, February 25th. The oil and natural gas company reported $3.64 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.57 by $0.07. The company 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%. As a group, research analysts expect that Diamondback Energy, Inc. will post 15.49 earnings per share for the current year.

Diamondback Energy Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, March 13th. Shareholders of record on Thursday, March 6th will be given a dividend of $1.00 per share. This is an increase from Diamondback Energy’s previous quarterly dividend of $0.90. This represents a $4.00 annualized dividend and a yield of 2.70%. The ex-dividend date is Thursday, March 6th. Diamondback Energy’s dividend payout ratio (DPR) is currently 25.32%.

Diamondback Energy 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.