NEOS Investment Management LLC Buys 11,125 Shares of Diamondback Energy, Inc. (NASDAQ:FANG)

NEOS Investment Management LLC raised its stake in shares of Diamondback Energy, Inc. (NASDAQ:FANG) by 77.0% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 25,567 shares of the oil and natural gas company’s stock after acquiring an additional 11,125 shares during the quarter. NEOS Investment Management LLC’s holdings in Diamondback Energy were worth $4,189,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Lakewood Asset Management LLC lifted its holdings in Diamondback Energy by 0.5% during the 4th quarter. Lakewood Asset Management LLC now owns 11,340 shares of the oil and natural gas company’s stock valued at $1,858,000 after purchasing an additional 60 shares during the last quarter. Magnolia Capital Advisors LLC raised its stake in shares of Diamondback Energy by 2.0% in the fourth quarter. Magnolia Capital Advisors LLC now owns 3,247 shares of the oil and natural gas company’s stock valued at $532,000 after acquiring an additional 64 shares during the last quarter. Barden Capital Management Inc. boosted its holdings in shares of Diamondback Energy by 1.5% in the 4th quarter. Barden Capital Management Inc. now owns 4,380 shares of the oil and natural gas company’s stock worth $718,000 after acquiring an additional 64 shares in the last quarter. Greenleaf Trust grew its position in Diamondback Energy by 1.0% during the 4th quarter. Greenleaf Trust now owns 6,892 shares of the oil and natural gas company’s stock worth $1,129,000 after acquiring an additional 66 shares during the last quarter. Finally, Buckhead Capital Management LLC increased its holdings in Diamondback Energy by 0.3% during the 4th quarter. Buckhead Capital Management LLC now owns 19,830 shares of the oil and natural gas company’s stock valued at $3,249,000 after purchasing an additional 67 shares in the last quarter. Institutional investors and hedge funds own 90.01% of the company’s stock.

Diamondback Energy Stock Down 1.8 %

FANG stock opened at $160.23 on Friday. The business has a 50-day moving average of $159.11 and a 200-day moving average of $169.88. Diamondback Energy, Inc. has a fifty-two week low of $137.09 and a fifty-two week high of $214.50. The stock has a market capitalization of $46.38 billion, a P/E ratio of 9.17, a P/E/G ratio of 1.24 and a beta of 1.85. The company has a debt-to-equity ratio of 0.31, a current ratio of 0.45 and a quick ratio of 0.42.

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. The company had revenue of $3.71 billion during the quarter, compared to analysts’ expectations of $3.55 billion. Diamondback Energy had a net margin of 33.64% and a return on equity of 13.68%. On average, sell-side analysts anticipate that Diamondback Energy, Inc. will post 15.49 earnings per share for the current fiscal year.

Diamondback Energy Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, March 13th. Shareholders 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. This represents a $4.00 annualized dividend and a yield of 2.50%. The ex-dividend date was Thursday, March 6th. Diamondback Energy’s payout ratio is presently 25.32%.

Analyst Ratings Changes

FANG has been the topic of several research analyst reports. Royal Bank of Canada restated an “outperform” rating and set a $210.00 target price on shares of Diamondback Energy in a report on Thursday, January 23rd. Truist Financial raised their price objective 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. Wells Fargo & Company reduced their target price on shares of Diamondback Energy from $219.00 to $215.00 and set an “overweight” rating on the stock in a research report on Wednesday, March 12th. Williams Trading set a $190.00 price objective on shares of Diamondback Energy in a research report on Wednesday, March 5th. Finally, Mizuho increased their price objective on Diamondback Energy from $201.00 to $204.00 and gave the company an “outperform” rating in a research report on Tuesday, February 25th. Four equities research analysts have rated the stock with a hold rating, eighteen have issued a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, Diamondback Energy presently has an average rating of “Moderate Buy” and an average price target of $209.33.

Insiders Place Their Bets

In related news, Director Frank D. Tsuru bought 2,000 shares of the stock in a transaction that occurred on Friday, February 28th. The shares were acquired at an average price of $156.51 per share, with a total value of $313,020.00. Following the completion of the transaction, the director now owns 5,730 shares in the company, valued at $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 can be accessed through the SEC website. Insiders own 0.48% of the company’s stock.

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.