New Age Alpha Advisors LLC Acquires New Holdings in Diamondback Energy, Inc. (NASDAQ:FANG)

New Age Alpha Advisors LLC bought a new stake in shares of Diamondback Energy, Inc. (NASDAQ:FANG) during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm bought 13,434 shares of the oil and natural gas company’s stock, valued at approximately $2,201,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in FANG. The Manufacturers Life Insurance Company grew its position in Diamondback Energy by 17.5% in the third quarter. The Manufacturers Life Insurance Company now owns 171,737 shares of the oil and natural gas company’s stock worth $29,607,000 after buying an additional 25,603 shares during the last quarter. D.A. Davidson & CO. boosted its stake in shares of Diamondback Energy by 8.3% during the 3rd quarter. D.A. Davidson & CO. now owns 14,185 shares of the oil and natural gas company’s stock worth $2,446,000 after acquiring an additional 1,092 shares in the last quarter. Glenmede Trust Co. NA grew its holdings in shares of Diamondback Energy by 9.0% in the 3rd quarter. Glenmede Trust Co. NA now owns 9,898 shares of the oil and natural gas company’s stock worth $1,706,000 after acquiring an additional 817 shares during the last quarter. CreativeOne Wealth LLC raised its position in shares of Diamondback Energy by 39.2% during the third quarter. CreativeOne Wealth LLC now owns 7,194 shares of the oil and natural gas company’s stock worth $1,240,000 after purchasing an additional 2,027 shares during the period. Finally, Public Sector Pension Investment Board raised its position in shares of Diamondback Energy by 5.3% during the third quarter. Public Sector Pension Investment Board now owns 32,617 shares of the oil and natural gas company’s stock worth $5,623,000 after purchasing an additional 1,650 shares during the period. 90.01% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Diamondback Energy

In related news, Director Frank D. Tsuru bought 2,000 shares of the firm’s stock in a transaction dated Friday, February 28th. The stock was bought at an average cost of $156.51 per share, for a total transaction of $313,020.00. Following the transaction, the director now owns 5,730 shares of the company’s stock, valued at $896,802.30. This represents a 53.62 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 0.48% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have commented on the stock. JPMorgan Chase & Co. decreased their target price on shares of Diamondback Energy from $212.00 to $167.00 and set an “overweight” rating for the company in a report on Thursday, March 13th. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $210.00 price objective on shares of Diamondback Energy in a research note on Thursday, January 23rd. Barclays cut their target price on shares of Diamondback Energy from $210.00 to $200.00 and set an “overweight” rating on the stock in a research note on Tuesday, March 18th. Mizuho increased their target price on Diamondback Energy from $201.00 to $204.00 and gave the company an “outperform” rating in a report on Tuesday, February 25th. Finally, Citigroup lowered their price target on Diamondback Energy from $195.00 to $157.00 and set a “neutral” rating on the stock in a report on Monday, March 17th. Four equities research analysts have rated the stock with a hold rating, eighteen have assigned a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat, Diamondback Energy has a consensus rating of “Moderate Buy” and an average price target of $209.33.

Diamondback Energy Price Performance

Shares of FANG stock opened at $157.54 on Friday. The stock’s fifty day simple moving average is $158.66 and its 200 day simple moving average is $169.72. 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 one year low of $137.09 and a one year high of $214.50. The firm has a market cap of $45.60 billion, a price-to-earnings ratio of 9.02, a P/E/G ratio of 1.24 and a beta of 1.85.

Diamondback Energy (NASDAQ:FANG) last released its quarterly 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. The firm had revenue of $3.71 billion during the quarter, compared to analysts’ expectations of $3.55 billion. Diamondback Energy had a return on equity of 13.68% and a net margin of 33.64%. On average, analysts expect that Diamondback Energy, Inc. will post 15.49 earnings per share 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 issued a dividend of $1.00 per share. This represents a $4.00 dividend on an annualized basis and a yield of 2.54%. The ex-dividend date was Thursday, March 6th. This is a positive change from Diamondback Energy’s previous quarterly dividend of $0.90. Diamondback Energy’s payout ratio is currently 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.