Erste Asset Management GmbH Sells 6,100 Shares of Diamondback Energy, Inc. (NASDAQ:FANG)

Erste Asset Management GmbH lessened its holdings in Diamondback Energy, Inc. (NASDAQ:FANG) by 97.3% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 170 shares of the oil and natural gas company’s stock after selling 6,100 shares during the quarter. Erste Asset Management GmbH’s holdings in Diamondback Energy were worth $27,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of the business. QRG Capital Management Inc. boosted its stake in Diamondback Energy by 38.4% during the 4th quarter. QRG Capital Management Inc. now owns 11,675 shares of the oil and natural gas company’s stock worth $1,913,000 after acquiring an additional 3,238 shares during the last quarter. Swedbank AB boosted its stake in Diamondback Energy by 28.0% during the 4th quarter. Swedbank AB now owns 198,283 shares of the oil and natural gas company’s stock worth $32,485,000 after acquiring an additional 43,361 shares during the last quarter. Tokio Marine Asset Management Co. Ltd. boosted its stake in Diamondback Energy by 631.1% during the 4th quarter. Tokio Marine Asset Management Co. Ltd. now owns 43,148 shares of the oil and natural gas company’s stock worth $7,069,000 after acquiring an additional 37,246 shares during the last quarter. Franklin Resources Inc. boosted its stake in Diamondback Energy by 48.5% during the 3rd quarter. Franklin Resources Inc. now owns 146,870 shares of the oil and natural gas company’s stock worth $28,008,000 after acquiring an additional 47,951 shares during the last quarter. Finally, Tectonic Advisors LLC boosted its stake in Diamondback Energy by 38.2% during the 4th quarter. Tectonic Advisors LLC now owns 31,467 shares of the oil and natural gas company’s stock worth $5,155,000 after acquiring an additional 8,704 shares during the last quarter. Institutional investors own 90.01% of the company’s stock.

Insiders Place Their Bets

In other Diamondback Energy news, Director Frank D. Tsuru bought 2,000 shares of the stock in a transaction on 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 completion of the purchase, 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 purchase was disclosed in a filing with the SEC, which is available through the SEC website. Insiders own 0.48% of the company’s stock.

Diamondback Energy Trading Up 3.0 %

FANG opened at $150.20 on Friday. Diamondback Energy, Inc. has a twelve month low of $137.09 and a twelve month high of $214.50. The company has a 50-day simple moving average of $162.00 and a 200 day simple moving average of $171.69. The company has a quick ratio of 0.42, a current ratio of 0.45 and a debt-to-equity ratio of 0.31. The stock has a market capitalization of $43.47 billion, a price-to-earnings ratio of 8.60, a P/E/G ratio of 1.24 and a beta of 1.84.

Diamondback Energy (NASDAQ:FANG) last posted its quarterly earnings data 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 business 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%. Analysts predict that Diamondback Energy, Inc. will post 15.49 EPS for the current fiscal year.

Diamondback Energy Increases Dividend

The firm also recently announced 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 an increase 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 yield of 2.66%. Diamondback Energy’s payout ratio is presently 25.32%.

Analyst Ratings Changes

FANG has been the topic of several recent analyst reports. Citigroup lowered shares of Diamondback Energy from a “buy” rating to a “reduce” rating in a research note on Wednesday, March 5th. Mizuho lifted their price target on shares of Diamondback Energy from $201.00 to $204.00 and gave the company an “outperform” rating in a research note on Tuesday, February 25th. Williams Trading set a $190.00 price target on shares of Diamondback Energy in a research note on Wednesday, March 5th. Piper Sandler cut their price target on shares of Diamondback Energy from $252.00 to $232.00 and set an “overweight” rating on the stock in a research note on Tuesday, December 17th. Finally, The Goldman Sachs Group started coverage on shares of Diamondback Energy in a research note on Monday, December 2nd. They issued a “buy” rating and a $227.00 price target on the stock. One research analyst has rated the stock with a sell rating, three have given a hold rating, eighteen have given a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $211.92.

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.