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

TrueMark Investments LLC raised its position in Diamondback Energy, Inc. (NASDAQ:FANG) by 21.4% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 2,347 shares of the oil and natural gas company’s stock after purchasing an additional 413 shares during the quarter. TrueMark Investments LLC’s holdings in Diamondback Energy were worth $385,000 as of its most recent SEC filing.

Other hedge funds have also recently made changes to their positions in the company. State Street Corp grew its stake in shares of Diamondback Energy by 1.3% in the third quarter. State Street Corp now owns 11,858,555 shares of the oil and natural gas company’s stock worth $2,044,415,000 after purchasing an additional 149,871 shares during the last quarter. Boston Partners lifted its holdings in Diamondback Energy by 12.4% during the 4th quarter. Boston Partners now owns 5,169,742 shares of the oil and natural gas company’s stock worth $849,202,000 after buying an additional 571,820 shares during the period. Geode Capital Management LLC grew its position in shares of Diamondback Energy by 6.1% in the 3rd quarter. Geode Capital Management LLC now owns 4,618,560 shares of the oil and natural gas company’s stock valued at $793,611,000 after buying an additional 266,299 shares during the last quarter. Bank of New York Mellon Corp increased its stake in shares of Diamondback Energy by 13.7% in the fourth quarter. Bank of New York Mellon Corp now owns 4,163,070 shares of the oil and natural gas company’s stock valued at $682,036,000 after buying an additional 502,916 shares during the period. Finally, Diamond Hill Capital Management Inc. raised its position in shares of Diamondback Energy by 30.5% during the fourth quarter. Diamond Hill Capital Management Inc. now owns 2,817,554 shares of the oil and natural gas company’s stock worth $461,600,000 after acquiring an additional 658,644 shares during the last quarter. 90.01% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other news, Director Frank D. Tsuru acquired 2,000 shares of Diamondback Energy stock in a transaction on Friday, February 28th. The stock was acquired at an average cost of $156.51 per share, with a total value of $313,020.00. Following the transaction, the director now owns 5,730 shares of the company’s stock, valued at approximately $896,802.30. This trade represents a 53.62 % increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.48% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

FANG has been the topic of several analyst reports. Barclays reduced their target price on Diamondback Energy from $210.00 to $200.00 and set an “overweight” rating on the stock in a report on Tuesday, March 18th. Wells Fargo & Company reduced 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 note on Wednesday, March 12th. Williams Trading set a $190.00 target price on shares of Diamondback Energy in a research note on Wednesday, March 5th. Truist Financial upped their price target on shares of Diamondback Energy from $236.00 to $238.00 and gave the company a “buy” rating in a research report on Wednesday, February 19th. Finally, UBS Group lifted their price objective on Diamondback Energy from $212.00 to $216.00 and gave the stock a “buy” rating in a research report on Thursday, February 13th. Four research analysts have rated the stock with a hold rating, eighteen have assigned a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat, Diamondback Energy currently has a consensus rating of “Moderate Buy” and a consensus price target of $209.92.

Diamondback Energy Price Performance

Shares of NASDAQ FANG opened at $163.09 on Thursday. The stock has a market cap of $47.20 billion, a price-to-earnings ratio of 9.34, a PEG ratio of 1.24 and a beta of 1.85. The company has a debt-to-equity ratio of 0.31, a quick ratio of 0.42 and a current ratio of 0.45. Diamondback Energy, Inc. has a fifty-two week low of $137.09 and a fifty-two week high of $214.50. The firm’s 50-day simple moving average is $159.49 and its 200 day simple moving average is $169.95.

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

Diamondback Energy Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, March 13th. Stockholders of record on Thursday, March 6th were paid a $1.00 dividend. This is a positive change from Diamondback Energy’s previous quarterly dividend of $0.90. The ex-dividend date was Thursday, March 6th. This represents a $4.00 annualized dividend and a dividend yield of 2.45%. Diamondback Energy’s dividend payout ratio is presently 25.32%.

Diamondback Energy Company 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.