Metis Global Partners LLC Purchases 804 Shares of Diamondback Energy, Inc. (NASDAQ:FANG)

Metis Global Partners LLC boosted its position in shares of Diamondback Energy, Inc. (NASDAQ:FANG) by 10.5% in the 4th quarter, HoldingsChannel reports. The firm owned 8,493 shares of the oil and natural gas company’s stock after buying an additional 804 shares during the period. Metis Global Partners LLC’s holdings in Diamondback Energy were worth $1,391,000 at the end of the most recent reporting period.

Several other institutional investors have also recently added to or reduced their stakes in the company. State Street Corp lifted its holdings in 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 purchasing an additional 149,871 shares during the last quarter. Geode Capital Management LLC lifted its holdings in 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 purchasing an additional 266,299 shares during the last quarter. Bank of New York Mellon Corp lifted its holdings in 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 purchasing an additional 502,916 shares during the last quarter. Pacer Advisors Inc. lifted its holdings in 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 purchasing an additional 230,689 shares during the last quarter. Finally, Diamond Hill Capital Management Inc. lifted its holdings in Diamondback Energy by 25.6% during 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 purchasing an additional 439,579 shares during the last quarter. 90.01% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

FANG has been the subject of several analyst reports. Wells Fargo & Company lifted their price target on shares of Diamondback Energy from $218.00 to $219.00 and gave the company an “overweight” rating in a report on Tuesday, December 17th. Piper Sandler reduced their target price on shares of Diamondback Energy from $252.00 to $232.00 and set an “overweight” rating on the stock in a research report on Tuesday, December 17th. The Goldman Sachs Group started coverage on Diamondback Energy in a report on Monday, December 2nd. They set a “buy” rating and a $227.00 price objective on the stock. UBS Group increased 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. Finally, Royal Bank of Canada reiterated an “outperform” rating and issued a $210.00 price objective on shares of Diamondback Energy in a research report on Thursday, January 23rd. Four 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 data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $216.09.

Diamondback Energy Stock Performance

Shares of Diamondback Energy stock opened at $148.00 on Tuesday. The company has a market capitalization of $42.84 billion, a PE ratio of 8.47, a PEG ratio of 1.24 and a beta of 1.86. Diamondback Energy, Inc. has a 12 month low of $147.70 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. The stock’s fifty day simple moving average is $165.25 and its 200 day simple moving average is $174.70.

Diamondback Energy (NASDAQ:FANG) last issued its quarterly earnings data on Tuesday, February 25th. The oil and natural gas company reported $3.64 EPS for the quarter, topping the consensus estimate of $3.57 by $0.07. The business had revenue of $3.71 billion for the quarter, compared to the consensus estimate 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 predict that Diamondback Energy, Inc. will post 15.49 EPS for the current year.

Diamondback Energy Increases Dividend

The firm 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. This represents a $4.00 annualized dividend and a yield of 2.70%. The ex-dividend date of this dividend is Thursday, March 6th. This is an increase from Diamondback Energy’s previous quarterly dividend of $0.90. Diamondback Energy’s dividend payout ratio (DPR) is presently 25.32%.

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.