Diamondback Energy, Inc. (NASDAQ:FANG) Stock Holdings Lifted by Harvest Fund Management Co. Ltd

Harvest Fund Management Co. Ltd lifted its holdings in Diamondback Energy, Inc. (NASDAQ:FANG) by 103.8% during the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 17,386 shares of the oil and natural gas company’s stock after buying an additional 8,856 shares during the quarter. Harvest Fund Management Co. Ltd’s holdings in Diamondback Energy were worth $2,707,000 as of its most recent filing with the SEC.

A number of other large investors also recently modified their holdings of the business. Lakewood Asset Management LLC lifted its position in shares of Diamondback Energy by 0.5% in the 4th quarter. Lakewood Asset Management LLC now owns 11,340 shares of the oil and natural gas company’s stock worth $1,858,000 after buying an additional 60 shares during the last quarter. West Family Investments Inc. lifted its position in shares of Diamondback Energy by 3.4% in the 3rd quarter. West Family Investments Inc. now owns 1,852 shares of the oil and natural gas company’s stock worth $319,000 after buying an additional 61 shares during the last quarter. Magnolia Capital Advisors LLC lifted its position in shares of Diamondback Energy by 2.0% in the 4th quarter. Magnolia Capital Advisors LLC now owns 3,247 shares of the oil and natural gas company’s stock worth $532,000 after buying an additional 64 shares during the last quarter. Barden Capital Management Inc. lifted its position 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 buying an additional 64 shares during the last quarter. Finally, Citizens Financial Group Inc. RI lifted its position in shares of Diamondback Energy by 2.4% in the 3rd quarter. Citizens Financial Group Inc. RI now owns 2,795 shares of the oil and natural gas company’s stock worth $482,000 after buying an additional 65 shares during the last quarter. 90.01% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on FANG. The Goldman Sachs Group began coverage on shares of Diamondback Energy in a research report on Monday, December 2nd. They issued a “buy” rating and a $227.00 price objective on the stock. Barclays cut their price objective on shares of Diamondback Energy from $210.00 to $200.00 and set an “overweight” rating on the stock in a research report on Tuesday. Truist Financial lifted 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. Royal Bank of Canada reiterated an “outperform” rating and issued a $210.00 price objective on shares of Diamondback Energy in a research report on Thursday, January 23rd. Finally, Wolfe Research upgraded shares of Diamondback Energy from a “peer perform” rating to an “outperform” rating and set a $190.00 price objective on the stock in a research report on Friday, January 3rd. Four 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 company’s stock. Based on data from MarketBeat, Diamondback Energy currently has a consensus rating of “Moderate Buy” and a consensus target price of $209.92.

Diamondback Energy Stock Performance

Shares of FANG opened at $157.60 on Thursday. The firm’s 50 day moving average is $161.05 and its 200-day moving average is $170.85. The stock has a market capitalization of $45.62 billion, a P/E ratio of 9.02, 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, Inc. has a 12-month low of $137.09 and a 12-month high of $214.50.

Diamondback Energy (NASDAQ:FANG) last released its 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 business had revenue of $3.71 billion for the quarter, compared to the consensus estimate of $3.55 billion. Diamondback Energy had a net margin of 33.64% and a return on equity of 13.68%. Equities research analysts anticipate that Diamondback Energy, Inc. will post 15.49 EPS 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 given a $1.00 dividend. This is an increase from Diamondback Energy’s previous quarterly dividend of $0.90. This represents a $4.00 annualized dividend and a dividend yield of 2.54%. The ex-dividend date of this dividend was Thursday, March 6th. Diamondback Energy’s dividend payout ratio (DPR) is 25.32%.

Insider Transactions at Diamondback Energy

In other news, Director Frank D. Tsuru bought 2,000 shares of the company’s stock in a transaction dated Friday, February 28th. The shares were acquired at an average cost of $156.51 per share, with a total value of $313,020.00. Following the completion of the transaction, the director now directly owns 5,730 shares in the company, valued at approximately $896,802.30. The trade was a 53.62 % increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 0.48% of the stock is currently owned by insiders.

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.