Doheny Asset Management CA Has $3.63 Million Stock Holdings in Diamondback Energy, Inc. (NASDAQ:FANG)

Doheny Asset Management CA lessened its stake in Diamondback Energy, Inc. (NASDAQ:FANG) by 0.7% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 22,160 shares of the oil and natural gas company’s stock after selling 150 shares during the period. Diamondback Energy makes up approximately 2.7% of Doheny Asset Management CA’s holdings, making the stock its 9th largest position. Doheny Asset Management CA’s holdings in Diamondback Energy were worth $3,630,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in FANG. State Street Corp lifted its stake in shares of Diamondback Energy by 1.3% during the 3rd quarter. State Street Corp now owns 11,858,555 shares of the oil and natural gas company’s stock valued at $2,044,415,000 after buying an additional 149,871 shares in the last quarter. Geode Capital Management LLC lifted its stake in shares of Diamondback Energy by 6.1% during the 3rd quarter. Geode Capital Management LLC now owns 4,618,560 shares of the oil and natural gas company’s stock valued at $793,611,000 after buying an additional 266,299 shares in the last quarter. Bank of New York Mellon Corp lifted its stake in shares of Diamondback Energy by 13.7% during 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. Diamond Hill Capital Management Inc. lifted its stake in shares of Diamondback Energy by 30.5% during the 4th quarter. Diamond Hill Capital Management Inc. now owns 2,817,554 shares of the oil and natural gas company’s stock valued at $461,600,000 after buying an additional 658,644 shares in the last quarter. Finally, Pacer Advisors Inc. lifted its stake in shares of Diamondback Energy by 9.3% during the 3rd quarter. Pacer Advisors Inc. now owns 2,704,520 shares of the oil and natural gas company’s stock valued at $466,259,000 after buying an additional 230,689 shares in the last quarter. Institutional investors own 90.01% of the company’s stock.

Insider Activity at Diamondback Energy

In other news, Director Frank D. Tsuru purchased 2,000 shares of the company’s stock in a transaction that occurred on Friday, February 28th. The shares were bought at an average price 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 in the company, valued at $896,802.30. This represents a 53.62 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is accessible through this link. 0.48% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

Several brokerages have commented on FANG. Citigroup cut shares of Diamondback Energy from a “buy” rating to a “reduce” rating in a research note on Wednesday, March 5th. UBS Group boosted their target price on shares of Diamondback Energy from $212.00 to $216.00 and gave the stock a “buy” rating in a report on Thursday, February 13th. Raymond James reduced their target price on shares of Diamondback Energy from $245.00 to $214.00 and set a “strong-buy” rating on the stock in a report on Wednesday. Truist Financial boosted their target price on shares of Diamondback Energy from $236.00 to $238.00 and gave the stock a “buy” rating in a report on Wednesday, February 19th. Finally, Mizuho boosted their target price on shares of Diamondback Energy from $201.00 to $204.00 and gave the stock an “outperform” rating in a report on Tuesday, February 25th. One research analyst has rated the stock with a sell rating, three have issued a hold rating, eighteen have assigned a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $211.92.

Diamondback Energy Stock Up 3.0 %

NASDAQ:FANG opened at $150.20 on Friday. The firm has a market capitalization of $43.47 billion, a P/E ratio of 8.60, a PEG ratio of 1.24 and a beta of 1.84. Diamondback Energy, Inc. has a 1-year low of $137.09 and a 1-year high of $214.50. The company’s fifty day moving average price is $162.00 and its 200-day moving average price is $171.85. The company has a debt-to-equity ratio of 0.31, a current ratio of 0.45 and a quick ratio of 0.42.

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 the consensus estimate of $3.57 by $0.07. The company had revenue of $3.71 billion for the quarter, compared to analyst estimates of $3.55 billion. Diamondback Energy had a net margin of 33.64% and a return on equity of 13.68%. As a group, equities research analysts anticipate that Diamondback Energy, Inc. will post 15.49 EPS for the current year.

Diamondback Energy Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, March 13th. Investors of record on Thursday, March 6th were given a dividend of $1.00 per share. This represents a $4.00 annualized dividend and a yield of 2.66%. The ex-dividend date of this dividend was Thursday, March 6th. This is a positive change from Diamondback Energy’s previous quarterly dividend of $0.90. 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.