TrueMark Investments LLC Acquires 413 Shares of Diamondback Energy, Inc. (NASDAQ:FANG)

TrueMark Investments LLC raised its holdings in Diamondback Energy, Inc. (NASDAQ:FANG) by 21.4% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 2,347 shares of the oil and natural gas company’s stock after buying an additional 413 shares during the period. TrueMark Investments LLC’s holdings in Diamondback Energy were worth $385,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of the business. QRG Capital Management Inc. raised its holdings in Diamondback Energy by 38.4% during the fourth quarter. QRG Capital Management Inc. now owns 11,675 shares of the oil and natural gas company’s stock worth $1,913,000 after acquiring an additional 3,238 shares in the last quarter. Swedbank AB raised its stake in shares of Diamondback Energy by 28.0% during the 4th quarter. Swedbank AB now owns 198,283 shares of the oil and natural gas company’s stock worth $32,485,000 after purchasing an additional 43,361 shares in the last quarter. Tokio Marine Asset Management Co. Ltd. boosted its holdings in shares of Diamondback Energy by 631.1% in the 4th quarter. Tokio Marine Asset Management Co. Ltd. now owns 43,148 shares of the oil and natural gas company’s stock valued at $7,069,000 after buying an additional 37,246 shares during the last quarter. Franklin Resources Inc. grew its stake in shares of Diamondback Energy by 48.5% in the third quarter. Franklin Resources Inc. now owns 146,870 shares of the oil and natural gas company’s stock valued at $28,008,000 after buying an additional 47,951 shares in the last quarter. Finally, Tectonic Advisors LLC increased its holdings in Diamondback Energy by 38.2% during the fourth quarter. Tectonic Advisors LLC now owns 31,467 shares of the oil and natural gas company’s stock worth $5,155,000 after buying an additional 8,704 shares during the last quarter. 90.01% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on FANG. Raymond James decreased their price objective on shares of Diamondback Energy from $245.00 to $214.00 and set a “strong-buy” rating for the company in a research report on Wednesday, March 12th. The Goldman Sachs Group initiated coverage on Diamondback Energy in a research report on Monday, December 2nd. They set a “buy” rating and a $227.00 price target on the stock. Truist Financial lifted their target price on Diamondback Energy from $236.00 to $238.00 and gave the stock a “buy” rating in a research note on Wednesday, February 19th. Barclays dropped their price target on Diamondback Energy from $210.00 to $200.00 and set an “overweight” rating on the stock in a research note on Tuesday, March 18th. Finally, Wells Fargo & Company reduced their price objective on shares of Diamondback Energy from $219.00 to $215.00 and set an “overweight” rating for the company in a research report on Wednesday, March 12th. Four equities research analysts have rated the stock with a hold rating, eighteen have issued a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $209.92.

Insider Buying and Selling

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

Diamondback Energy Trading Up 0.9 %

FANG opened at $163.09 on Thursday. The company has a quick ratio of 0.42, a current ratio of 0.45 and a debt-to-equity ratio of 0.31. Diamondback Energy, Inc. has a twelve month low of $137.09 and a twelve month high of $214.50. The stock has a market capitalization of $47.20 billion, a price-to-earnings ratio of 9.34, a P/E/G ratio of 1.24 and a beta of 1.85. The company has a 50-day simple moving average of $159.49 and a 200 day simple moving average of $169.95.

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

Diamondback Energy Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, March 13th. Stockholders of record on Thursday, March 6th were issued a dividend of $1.00 per share. The ex-dividend date was Thursday, March 6th. This represents a $4.00 dividend on an annualized basis and a dividend yield of 2.45%. This is a boost from Diamondback Energy’s previous quarterly dividend of $0.90. Diamondback Energy’s payout ratio is 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.