Strategy Asset Managers LLC Has $475,000 Holdings in Diamondback Energy, Inc. (NASDAQ:FANG)

Strategy Asset Managers LLC decreased its stake in Diamondback Energy, Inc. (NASDAQ:FANG) by 29.5% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 2,900 shares of the oil and natural gas company’s stock after selling 1,212 shares during the period. Strategy Asset Managers LLC’s holdings in Diamondback Energy were worth $475,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also modified their holdings of the stock. Raymond James Financial Inc. bought a new stake in shares of Diamondback Energy in the fourth quarter valued at about $298,327,000. Assenagon Asset Management S.A. lifted its position in Diamondback Energy by 1,153.0% in the fourth quarter. Assenagon Asset Management S.A. now owns 1,132,918 shares of the oil and natural gas company’s stock worth $185,606,000 after purchasing an additional 1,042,505 shares during the period. Diamond Hill Capital Management Inc. boosted its stake in 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 buying an additional 658,644 shares in the last quarter. Boston Partners raised its stake in shares of Diamondback Energy by 12.4% in the 4th quarter. Boston Partners now owns 5,169,742 shares of the oil and natural gas company’s stock valued at $849,202,000 after buying an additional 571,820 shares in the last quarter. Finally, Zimmer Partners LP bought a new position in shares of Diamondback Energy during the 3rd quarter worth about $87,924,000. Institutional investors and hedge funds own 90.01% of the company’s stock.

Analysts Set New Price Targets

Several research analysts recently issued reports on FANG shares. UBS Group increased their price target on shares of Diamondback Energy from $212.00 to $216.00 and gave the stock a “buy” rating in a research report on Thursday, February 13th. Mizuho upped their price objective on Diamondback Energy from $201.00 to $204.00 and gave the company an “outperform” rating in a research note on Tuesday, February 25th. Citigroup cut their target price on Diamondback Energy from $195.00 to $157.00 and set a “neutral” rating for the company in a research report on Monday, March 17th. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $210.00 price target on shares of Diamondback Energy in a research note on Thursday, January 23rd. Finally, Piper Sandler cut their price objective on Diamondback Energy from $252.00 to $232.00 and set an “overweight” rating for the company in a report on Tuesday, December 17th. Four analysts have rated the stock with a hold rating, eighteen have given a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $209.33.

Insider Buying and Selling

In related news, Director Frank D. Tsuru purchased 2,000 shares of the stock in a transaction on Friday, February 28th. The shares were 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 of the company’s stock, valued at $896,802.30. This trade represents a 53.62 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 0.48% of the stock is currently owned by corporate insiders.

Diamondback Energy Stock Down 1.7 %

Shares of Diamondback Energy stock opened at $157.54 on Friday. The firm has a market cap of $45.60 billion, a PE ratio of 9.02, a P/E/G ratio of 1.24 and a beta of 1.85. The business’s 50 day simple moving average is $158.66 and its 200 day simple moving average is $169.73. 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 52-week low of $137.09 and a 52-week high of $214.50.

Diamondback Energy (NASDAQ:FANG) last announced its quarterly earnings data on Tuesday, February 25th. The oil and natural gas company reported $3.64 EPS for the quarter, topping analysts’ consensus estimates of $3.57 by $0.07. The business had revenue of $3.71 billion for the quarter, compared to analyst estimates of $3.55 billion. Diamondback Energy had a net margin of 33.64% and a return on equity of 13.68%. On average, 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. Stockholders of record on Thursday, March 6th were issued a $1.00 dividend. This is a boost 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 2.54%. Diamondback Energy’s dividend payout ratio (DPR) 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.