Korea Investment CORP grew its stake in shares of Diamondback Energy, Inc. (NASDAQ:FANG – Get Rating) by 239.7% during the 4th quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 116,108 shares of the oil and natural gas company’s stock after purchasing an additional 81,926 shares during the period. Korea Investment CORP owned approximately 0.06% of Diamondback Energy worth $15,881,000 at the end of the most recent reporting period.
Other institutional investors also recently made changes to their positions in the company. Fragasso Group Inc. purchased a new stake in shares of Diamondback Energy in the 4th quarter worth about $223,000. B. Riley Wealth Advisors Inc. boosted its position in shares of Diamondback Energy by 18.3% in the 3rd quarter. B. Riley Wealth Advisors Inc. now owns 7,189 shares of the oil and natural gas company’s stock worth $867,000 after buying an additional 1,112 shares in the last quarter. Patriot Financial Group Insurance Agency LLC purchased a new stake in shares of Diamondback Energy in the 4th quarter worth about $212,000. Disciplined Investments LLC lifted its holdings in Diamondback Energy by 1,296.3% in the 4th quarter. Disciplined Investments LLC now owns 377 shares of the oil and natural gas company’s stock valued at $52,000 after purchasing an additional 350 shares in the last quarter. Finally, Parallel Advisors LLC lifted its holdings in Diamondback Energy by 43.9% in the 4th quarter. Parallel Advisors LLC now owns 7,827 shares of the oil and natural gas company’s stock valued at $1,071,000 after purchasing an additional 2,387 shares in the last quarter. 89.76% of the stock is currently owned by hedge funds and other institutional investors.
Diamondback Energy Stock Performance
Diamondback Energy stock opened at $127.15 on Thursday. The stock has a market cap of $23.03 billion, a P/E ratio of 5.27, a price-to-earnings-growth ratio of 0.31 and a beta of 2.03. The company has a current ratio of 0.62, a quick ratio of 0.58 and a debt-to-equity ratio of 0.43. The stock has a 50 day moving average of $135.41 and a 200-day moving average of $139.27. Diamondback Energy, Inc. has a 52 week low of $103.71 and a 52 week high of $168.95.
Diamondback Energy (NASDAQ:FANG – Get Rating) last announced its quarterly earnings data on Monday, May 1st. The oil and natural gas company reported $4.10 earnings per share (EPS) for the quarter, missing the consensus estimate of $4.33 by ($0.23). Diamondback Energy had a return on equity of 27.02% and a net margin of 47.15%. The firm had revenue of $1.93 billion for the quarter, compared to the consensus estimate of $1.92 billion. During the same quarter last year, the business earned $5.20 earnings per share. The business’s revenue for the quarter was down 20.1% compared to the same quarter last year. On average, analysts expect that Diamondback Energy, Inc. will post 18.85 EPS for the current fiscal year.
Diamondback Energy Cuts Dividend
The company also recently disclosed a quarterly dividend, which was paid on Thursday, May 18th. Investors of record on Thursday, May 11th were paid a dividend of $0.80 per share. This represents a $3.20 annualized dividend and a yield of 2.52%. The ex-dividend date of this dividend was Wednesday, May 10th. Diamondback Energy’s dividend payout ratio (DPR) is presently 13.25%.
Wall Street Analyst Weigh In
FANG has been the topic of a number of recent research reports. StockNews.com initiated coverage on shares of Diamondback Energy in a report on Thursday, May 18th. They issued a “hold” rating on the stock. UBS Group initiated coverage on shares of Diamondback Energy in a report on Wednesday, April 19th. They issued a “buy” rating and a $177.00 target price on the stock. Raymond James upped their target price on shares of Diamondback Energy from $165.00 to $190.00 and gave the company a “strong-buy” rating in a report on Friday, April 21st. Truist Financial reduced their target price on shares of Diamondback Energy from $200.00 to $186.00 and set a “buy” rating on the stock in a report on Tuesday, April 11th. Finally, Stifel Nicolaus dropped their price objective on shares of Diamondback Energy from $180.00 to $176.00 in a research note on Monday, May 22nd. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating, seventeen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $178.00.
Diamondback Energy Company Profile
Diamondback Energy, Inc is an independent oil and natural gas company, which engages in the acquisition, development, exploration, and exploitation of unconventional, onshore oil, and natural gas reserves. It operates through the Upstream and Midstream Services segments. The Upstream segment focuses on the Permian Basin operations in West Texas.
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