Parallel Advisors LLC Acquires 906 Shares of Diamondback Energy, Inc. (NASDAQ:FANG)

Parallel Advisors LLC increased its stake in Diamondback Energy, Inc. (NASDAQ:FANG) by 5.6% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 17,151 shares of the oil and natural gas company’s stock after purchasing an additional 906 shares during the period. Parallel Advisors LLC’s holdings in Diamondback Energy were worth $2,810,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. KBC Group NV raised its position in shares of Diamondback Energy by 11.8% during the 3rd quarter. KBC Group NV now owns 14,512 shares of the oil and natural gas company’s stock valued at $2,501,000 after buying an additional 1,531 shares in the last quarter. Natixis Advisors LLC raised its position in Diamondback Energy by 9.1% during the third quarter. Natixis Advisors LLC now owns 170,674 shares of the oil and natural gas company’s stock valued at $29,424,000 after purchasing an additional 14,182 shares in the last quarter. Mutual of America Capital Management LLC lifted its stake in Diamondback Energy by 2.6% during the third quarter. Mutual of America Capital Management LLC now owns 23,098 shares of the oil and natural gas company’s stock worth $3,982,000 after purchasing an additional 588 shares during the last quarter. Atlanta Consulting Group Advisors LLC purchased a new position in shares of Diamondback Energy in the 3rd quarter worth about $253,000. Finally, Swiss National Bank increased its position in shares of Diamondback Energy by 11.7% during the 3rd quarter. Swiss National Bank now owns 560,099 shares of the oil and natural gas company’s stock valued at $96,561,000 after purchasing an additional 58,500 shares during the last quarter. 90.01% of the stock is owned by hedge funds and other institutional investors.

Diamondback Energy Price Performance

FANG opened at $153.03 on Tuesday. 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 company has a market cap of $44.29 billion, a price-to-earnings ratio of 8.76, a price-to-earnings-growth ratio of 1.24 and a beta of 1.85. The stock has a fifty day simple moving average of $161.67 and a two-hundred day simple moving average of $171.22. Diamondback Energy, Inc. has a 12-month low of $137.09 and a 12-month high of $214.50.

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, 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 company had revenue of $3.71 billion during the quarter, compared to analyst estimates of $3.55 billion. Research analysts predict that Diamondback Energy, Inc. will post 15.49 earnings per share for the current fiscal year.

Diamondback Energy Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, March 13th. Shareholders of record on Thursday, March 6th were paid a dividend of $1.00 per share. This is a boost from Diamondback Energy’s previous quarterly dividend of $0.90. The ex-dividend date of this dividend was Thursday, March 6th. This represents a $4.00 dividend on an annualized basis and a yield of 2.61%. Diamondback Energy’s payout ratio is presently 25.32%.

Insiders Place Their Bets

In related news, Director Frank D. Tsuru purchased 2,000 shares of the 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 transaction, the director now directly owns 5,730 shares in the company, valued at $896,802.30. This trade represents a 53.62 % increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 0.48% of the company’s stock.

Wall Street Analyst Weigh In

FANG has been the subject of several research reports. UBS Group upped their target price on Diamondback Energy from $212.00 to $216.00 and gave the stock a “buy” rating in a research note on Thursday, February 13th. Citigroup decreased their target price on shares of Diamondback Energy from $195.00 to $157.00 and set a “neutral” rating on the stock in a research report on Monday. Raymond James cut their price target 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. Truist Financial lifted their price objective on Diamondback Energy from $236.00 to $238.00 and gave the stock a “buy” rating in a report on Wednesday, February 19th. Finally, Mizuho increased their target price on Diamondback Energy from $201.00 to $204.00 and gave the company an “outperform” rating in a report 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.com, Diamondback Energy presently has a consensus rating of “Moderate Buy” and an average price target of $210.33.

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.