UniSuper Management Pty Ltd Purchases 4,540 Shares of Diamondback Energy, Inc. (NASDAQ:FANG)

UniSuper Management Pty Ltd grew its position in Diamondback Energy, Inc. (NASDAQ:FANG) by 32.9% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 18,333 shares of the oil and natural gas company’s stock after acquiring an additional 4,540 shares during the quarter. UniSuper Management Pty Ltd’s holdings in Diamondback Energy were worth $3,003,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in FANG. Wintrust Investments LLC bought a new stake in Diamondback Energy in the fourth quarter worth about $28,000. R Squared Ltd bought a new stake in shares of Diamondback Energy during the 4th quarter worth approximately $29,000. UMB Bank n.a. boosted its holdings in 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 acquiring an additional 136 shares during the period. Key Financial Inc grew its position in Diamondback Energy by 940.0% in the 4th quarter. Key Financial Inc now owns 208 shares of the oil and natural gas company’s stock valued at $34,000 after acquiring an additional 188 shares during the last quarter. Finally, Rakuten Securities Inc. increased its stake in Diamondback Energy by 62.4% in the fourth quarter. Rakuten Securities Inc. now owns 276 shares of the oil and natural gas company’s stock worth $45,000 after purchasing an additional 106 shares during the period. Institutional investors own 90.01% of the company’s stock.

Diamondback Energy Stock Down 1.7 %

Diamondback Energy stock opened at $157.54 on Friday. Diamondback Energy, Inc. has a 1-year low of $137.09 and a 1-year high of $214.50. The business has a fifty day moving average price of $158.66 and a 200-day moving average price of $169.72. The company has a debt-to-equity ratio of 0.31, a current ratio of 0.45 and a quick ratio of 0.42. The stock has a market capitalization of $45.60 billion, a price-to-earnings ratio of 9.02, 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 for the quarter, topping 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 business had revenue of $3.71 billion during the quarter, compared to the consensus estimate of $3.55 billion. Equities research analysts forecast that Diamondback Energy, Inc. will post 15.49 EPS for the current fiscal year.

Diamondback Energy Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, March 13th. Shareholders 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 2.54%. The ex-dividend date was Thursday, March 6th. This is an increase from Diamondback Energy’s previous quarterly dividend of $0.90. Diamondback Energy’s payout ratio is currently 25.32%.

Analysts Set New Price Targets

A number of analysts have recently issued reports on FANG shares. UBS Group boosted their target price on shares of Diamondback Energy from $212.00 to $216.00 and gave the company a “buy” rating in a research note on Thursday, February 13th. Morgan Stanley dropped their target price on shares of Diamondback Energy from $227.00 to $206.00 and set an “overweight” rating on the stock in a research note on Thursday. Wells Fargo & Company decreased their price target on shares of Diamondback Energy from $219.00 to $215.00 and set an “overweight” rating for the company in a research note on Wednesday, March 12th. Barclays dropped their price objective 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, Piper Sandler decreased their target price on Diamondback Energy from $252.00 to $232.00 and set an “overweight” rating for the company in a research report on Tuesday, December 17th. Four investment 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’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $209.33.

Insider Buying and Selling at Diamondback Energy

In other news, Director Frank D. Tsuru bought 2,000 shares of the business’s stock in a transaction that occurred on Friday, February 28th. The shares were purchased at an average cost of $156.51 per share, with a total value of $313,020.00. Following the transaction, the director now directly owns 5,730 shares in the company, valued at approximately $896,802.30. The trade was a 53.62 % increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. 0.48% of the stock is currently owned by company insiders.

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.