Everstar Asset Management LLC Acquires 199 Shares of Diamondback Energy, Inc. (NASDAQ:FANG)

Everstar Asset Management LLC grew its stake in Diamondback Energy, Inc. (NASDAQ:FANG) by 9.8% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 2,227 shares of the oil and natural gas company’s stock after purchasing an additional 199 shares during the quarter. Everstar Asset Management LLC’s holdings in Diamondback Energy were worth $365,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. State Street Corp lifted its stake in Diamondback Energy by 1.3% in the third quarter. State Street Corp now owns 11,858,555 shares of the oil and natural gas company’s stock valued at $2,044,415,000 after buying an additional 149,871 shares during the period. Boston Partners increased 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 acquiring an additional 571,820 shares during the last quarter. Geode Capital Management LLC raised its position in shares of Diamondback Energy by 6.1% in the 3rd quarter. Geode Capital Management LLC now owns 4,618,560 shares of the oil and natural gas company’s stock valued at $793,611,000 after acquiring an additional 266,299 shares during the period. Bank of New York Mellon Corp grew its holdings in Diamondback Energy by 13.7% during the fourth quarter. Bank of New York Mellon Corp now owns 4,163,070 shares of the oil and natural gas company’s stock valued at $682,036,000 after purchasing an additional 502,916 shares during the period. Finally, Diamond Hill Capital Management Inc. increased its stake in Diamondback Energy by 30.5% in the fourth quarter. Diamond Hill Capital Management Inc. now owns 2,817,554 shares of the oil and natural gas company’s stock valued at $461,600,000 after purchasing an additional 658,644 shares in the last quarter. 90.01% of the stock is currently owned by institutional investors.

Diamondback Energy Price Performance

NASDAQ:FANG opened at $157.54 on Monday. Diamondback Energy, Inc. has a 52-week low of $137.09 and a 52-week high of $214.50. The company has a market cap of $45.60 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 quick ratio of 0.42 and a current ratio of 0.45. The stock’s 50-day simple moving average is $158.66 and its 200 day simple moving average is $169.73.

Diamondback Energy (NASDAQ:FANG) last posted 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 firm had revenue of $3.71 billion for the quarter, compared to analyst estimates of $3.55 billion. Diamondback Energy had a return on equity of 13.68% and a net margin of 33.64%. As a group, sell-side analysts forecast that Diamondback Energy, Inc. will post 15.49 EPS for the current fiscal year.

Diamondback Energy Increases Dividend

The company 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. The ex-dividend date was Thursday, March 6th. This represents a $4.00 dividend on an annualized basis and a yield of 2.54%. This is a boost from Diamondback Energy’s previous quarterly dividend of $0.90. Diamondback Energy’s dividend payout ratio (DPR) is currently 25.32%.

Analyst Upgrades and Downgrades

A number of equities analysts have recently weighed in on FANG shares. Piper Sandler reduced 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 report on Tuesday, December 17th. Wolfe Research raised Diamondback Energy from a “peer perform” rating to an “outperform” rating and set a $190.00 target price for the company in a research note on Friday, January 3rd. Mizuho raised their price target on Diamondback Energy from $201.00 to $204.00 and gave the stock an “outperform” rating in a research report on Tuesday, February 25th. JPMorgan Chase & Co. decreased their price objective on Diamondback Energy from $212.00 to $167.00 and set an “overweight” rating for the company in a research report on Thursday, March 13th. Finally, Williams Trading set a $190.00 target price on Diamondback Energy in a research note on Wednesday, March 5th. Four investment analysts have rated the stock with a hold rating, eighteen have given a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $209.33.

Insider Activity

In other Diamondback Energy news, Director Frank D. Tsuru purchased 2,000 shares of the business’s stock in a transaction on Friday, February 28th. The stock was acquired at an average price of $156.51 per share, with a total value of $313,020.00. Following the acquisition, 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 position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. 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.