AMF Tjanstepension AB Acquires Shares of 9,459 Diamondback Energy, Inc. (NASDAQ:FANG)

AMF Tjanstepension AB acquired a new stake in Diamondback Energy, Inc. (NASDAQ:FANG) in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor acquired 9,459 shares of the oil and natural gas company’s stock, valued at approximately $1,551,000.

Other institutional investors have also recently bought and sold shares of the company. R Squared Ltd bought a new position in Diamondback Energy in the 4th quarter valued at $29,000. UMB Bank n.a. lifted its position in shares of Diamondback Energy by 247.3% during the 4th quarter. UMB Bank n.a. now owns 191 shares of the oil and natural gas company’s stock valued at $31,000 after buying an additional 136 shares during the last quarter. Key Financial Inc lifted its position in shares of Diamondback Energy by 940.0% during the 4th quarter. Key Financial Inc now owns 208 shares of the oil and natural gas company’s stock valued at $34,000 after buying an additional 188 shares during the last quarter. Ashton Thomas Securities LLC purchased a new position in shares of Diamondback Energy during the 3rd quarter valued at $52,000. Finally, Smithfield Trust Co lifted its position in shares of Diamondback Energy by 37.8% during the 4th quarter. Smithfield Trust Co now owns 310 shares of the oil and natural gas company’s stock valued at $50,000 after buying an additional 85 shares during the last quarter. Institutional investors own 90.01% of the company’s stock.

Analysts Set New Price Targets

FANG has been the topic of a number of recent research reports. UBS Group upped their price target on Diamondback Energy from $212.00 to $216.00 and gave the company a “buy” rating in a research report on Thursday, February 13th. Wells Fargo & Company increased their price objective on Diamondback Energy from $218.00 to $219.00 and gave the stock an “overweight” rating in a report on Tuesday, December 17th. StockNews.com raised Diamondback Energy from a “sell” rating to a “hold” rating in a report on Wednesday, November 13th. Royal Bank of Canada reissued an “outperform” rating and set a $210.00 price objective on shares of Diamondback Energy in a report on Thursday, January 23rd. Finally, Morgan Stanley increased their price objective on Diamondback Energy from $220.00 to $227.00 and gave the stock an “overweight” rating in a report on Wednesday, February 19th. 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 company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $216.09.

Diamondback Energy Stock Up 0.2 %

Shares of NASDAQ:FANG opened at $140.11 on Friday. The stock has a fifty day simple moving average of $163.97 and a two-hundred day simple moving average of $173.39. The stock has a market capitalization of $40.55 billion, a price-to-earnings ratio of 8.02, a PEG ratio of 1.24 and a beta of 1.85. Diamondback Energy, Inc. has a 12-month low of $138.94 and a 12-month high of $214.50. 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 posted its earnings results 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. 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%. On average, research analysts anticipate that Diamondback Energy, Inc. will post 15.49 earnings per share for the current fiscal year.

Diamondback Energy Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, March 13th. Investors of record on Thursday, March 6th will be issued a $1.00 dividend. The ex-dividend date is Thursday, March 6th. This represents a $4.00 annualized dividend and a dividend yield of 2.85%. This is a positive change from Diamondback Energy’s previous quarterly dividend of $0.90. Diamondback Energy’s payout ratio is presently 25.32%.

Insider Buying and Selling

In related news, Director Frank D. Tsuru bought 2,000 shares of the stock in a transaction that occurred on 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 completion of the transaction, the director now owns 5,730 shares of the company’s stock, valued at approximately $896,802.30. This trade represents a 53.62 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.48% of the stock is currently owned by corporate insiders.

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.