NEOS Investment Management LLC Has $4.19 Million Stock Position in Diamondback Energy, Inc. (NASDAQ:FANG)

NEOS Investment Management LLC increased its position in shares of Diamondback Energy, Inc. (NASDAQ:FANG) by 77.0% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 25,567 shares of the oil and natural gas company’s stock after acquiring an additional 11,125 shares during the quarter. NEOS Investment Management LLC’s holdings in Diamondback Energy were worth $4,189,000 as of its most recent SEC filing.

Several other hedge funds have also made changes to their positions in the company. Wintrust Investments LLC purchased a new stake in shares of Diamondback Energy in the fourth quarter valued at $28,000. R Squared Ltd acquired a new position in Diamondback Energy during the fourth quarter valued at $29,000. UMB Bank n.a. lifted its stake in Diamondback Energy by 247.3% in the 4th quarter. UMB Bank n.a. now owns 191 shares of the oil and natural gas company’s stock worth $31,000 after acquiring an additional 136 shares in the last quarter. Key Financial Inc boosted its position in 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 worth $34,000 after acquiring an additional 188 shares during the period. Finally, Rakuten Securities Inc. grew its stake in Diamondback Energy by 62.4% during the 4th quarter. Rakuten Securities Inc. now owns 276 shares of the oil and natural gas company’s stock valued at $45,000 after acquiring an additional 106 shares in the last quarter. Hedge funds and other institutional investors own 90.01% of the company’s stock.

Insiders Place Their Bets

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

Diamondback Energy Stock Performance

NASDAQ:FANG opened at $160.23 on Friday. The company has a debt-to-equity ratio of 0.31, a quick ratio of 0.42 and a current ratio of 0.45. The firm’s 50-day moving average is $159.11 and its 200-day moving average is $169.88. Diamondback Energy, Inc. has a 52-week low of $137.09 and a 52-week high of $214.50. The company has a market cap of $46.38 billion, a price-to-earnings ratio of 9.17, a PEG ratio of 1.24 and a beta of 1.85.

Diamondback Energy (NASDAQ:FANG) last issued its quarterly earnings results on Tuesday, February 25th. The oil and natural gas company reported $3.64 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.57 by $0.07. Diamondback Energy had a return on equity of 13.68% and a net margin of 33.64%. The firm had revenue of $3.71 billion for the quarter, compared to analyst estimates of $3.55 billion. Equities research analysts anticipate that Diamondback Energy, Inc. will post 15.49 earnings per share for the current year.

Diamondback Energy Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, March 13th. Investors of record on Thursday, March 6th were given a $1.00 dividend. This is a boost from Diamondback Energy’s previous quarterly dividend of $0.90. This represents a $4.00 annualized dividend and a yield of 2.50%. The ex-dividend date was Thursday, March 6th. Diamondback Energy’s dividend payout ratio (DPR) is 25.32%.

Wall Street Analyst Weigh In

A number of brokerages recently commented on FANG. Wells Fargo & Company lowered their price objective on shares of Diamondback Energy from $219.00 to $215.00 and set an “overweight” rating on the stock in a research report on Wednesday, March 12th. Barclays dropped their price target on shares of Diamondback Energy from $210.00 to $200.00 and set an “overweight” rating on the stock in a research note on Tuesday, March 18th. Piper Sandler lowered their target price on Diamondback Energy from $252.00 to $232.00 and set an “overweight” rating on the stock in a research note on Tuesday, December 17th. JPMorgan Chase & Co. cut their price target on Diamondback Energy from $212.00 to $167.00 and set an “overweight” rating for the company in a research note on Thursday, March 13th. Finally, Mizuho boosted their price target on Diamondback Energy from $201.00 to $204.00 and gave the company an “outperform” rating in a research note on Tuesday, February 25th. 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’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $209.33.

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.