Diamondback Energy, Inc. (NASDAQ:FANG) Stock Holdings Cut by Ieq Capital LLC

Ieq Capital LLC lessened its position in Diamondback Energy, Inc. (NASDAQ:FANG) by 83.4% during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 1,581 shares of the oil and natural gas company’s stock after selling 7,928 shares during the period. Ieq Capital LLC’s holdings in Diamondback Energy were worth $259,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of FANG. Swedbank AB lifted its holdings in Diamondback Energy by 28.0% in the 4th quarter. Swedbank AB now owns 198,283 shares of the oil and natural gas company’s stock valued at $32,485,000 after acquiring an additional 43,361 shares during the last quarter. Tokio Marine Asset Management Co. Ltd. raised its holdings in shares of Diamondback Energy by 631.1% in 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 purchasing an additional 37,246 shares in the last quarter. Franklin Resources Inc. lifted its stake in Diamondback Energy by 48.5% during the third quarter. Franklin Resources Inc. now owns 146,870 shares of the oil and natural gas company’s stock valued at $28,008,000 after purchasing an additional 47,951 shares during the last quarter. Tectonic Advisors LLC boosted its holdings in Diamondback Energy by 38.2% during the fourth quarter. Tectonic Advisors LLC now owns 31,467 shares of the oil and natural gas company’s stock worth $5,155,000 after buying an additional 8,704 shares in the last quarter. Finally, Benjamin Edwards Inc. grew its position in Diamondback Energy by 368.1% in the third quarter. Benjamin Edwards Inc. now owns 9,784 shares of the oil and natural gas company’s stock worth $1,687,000 after buying an additional 7,694 shares during the last quarter. Institutional investors and hedge funds own 90.01% of the company’s stock.

Diamondback Energy Trading Up 2.2 %

NASDAQ:FANG opened at $158.96 on Friday. 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 company has a market capitalization of $46.41 billion, a P/E ratio of 9.10, a P/E/G ratio of 1.24 and a beta of 1.86. The stock’s 50 day moving average price is $165.42 and its 200 day moving average price is $175.33. Diamondback Energy, Inc. has a 52 week low of $151.00 and a 52 week high of $214.50.

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 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%. On average, research analysts forecast that Diamondback Energy, Inc. will post 15.49 EPS for the current fiscal year.

Diamondback Energy Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, March 13th. Shareholders of record on Thursday, March 6th will be given a $1.00 dividend. The ex-dividend date is Thursday, March 6th. This represents a $4.00 dividend on an annualized basis and a dividend yield of 2.52%. This is a boost from Diamondback Energy’s previous quarterly dividend of $0.90. Diamondback Energy’s payout ratio is currently 25.32%.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on FANG. 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 research report on Tuesday, December 17th. Morgan Stanley increased their price target on Diamondback Energy from $220.00 to $227.00 and gave the company an “overweight” rating in a research report on Wednesday, February 19th. Truist Financial boosted their price objective on Diamondback Energy from $236.00 to $238.00 and gave the stock a “buy” rating in a report on Wednesday, February 19th. JPMorgan Chase & Co. raised their target price on shares of Diamondback Energy from $191.00 to $195.00 and gave the stock an “overweight” rating in a report on Friday, January 17th. Finally, UBS Group boosted their price target on shares of Diamondback Energy from $212.00 to $216.00 and gave the company a “buy” rating in a report on Thursday, February 13th. Four equities research 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, the company has an average rating of “Moderate Buy” and an average target price of $216.09.

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.