12th Street Asset Management Company LLC Buys 8,997 Shares of Diamondback Energy, Inc. (NASDAQ:FANG)

12th Street Asset Management Company LLC lifted its holdings in shares of Diamondback Energy, Inc. (NASDAQ:FANG) by 17.6% in the fourth quarter, Holdings Channel.com reports. The fund owned 60,195 shares of the oil and natural gas company’s stock after purchasing an additional 8,997 shares during the quarter. Diamondback Energy accounts for approximately 1.6% of 12th Street Asset Management Company LLC’s portfolio, making the stock its 24th largest position. 12th Street Asset Management Company LLC’s holdings in Diamondback Energy were worth $9,862,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in FANG. QRG Capital Management Inc. lifted its stake in Diamondback Energy by 38.4% in the fourth quarter. QRG Capital Management Inc. now owns 11,675 shares of the oil and natural gas company’s stock valued at $1,913,000 after buying an additional 3,238 shares in the last quarter. Swedbank AB raised its holdings in shares of 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 purchasing an additional 43,361 shares during the period. 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 valued at $7,069,000 after purchasing an additional 37,246 shares during the period. Franklin Resources Inc. raised its holdings in shares of Diamondback Energy by 48.5% in the 3rd 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 period. Finally, Tectonic Advisors LLC boosted its holdings in shares of 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 buying an additional 8,704 shares during the period. 90.01% of the stock is owned by institutional investors.

Insider Buying and Selling at Diamondback Energy

In other Diamondback Energy news, Director Frank D. Tsuru bought 2,000 shares of the company’s stock in a transaction that occurred on Friday, February 28th. The shares were purchased at an average price of $156.51 per share, with a total value of $313,020.00. Following the completion of the acquisition, the director now directly owns 5,730 shares of the company’s stock, valued at $896,802.30. This represents a 53.62 % increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 0.48% of the company’s stock.

Diamondback Energy Price Performance

Shares of NASDAQ FANG opened at $145.80 on Friday. The firm’s 50 day simple moving average is $162.41 and its 200-day simple moving average is $172.18. Diamondback Energy, Inc. has a 12 month low of $137.09 and a 12 month high of $214.50. The stock has a market capitalization of $42.20 billion, a price-to-earnings ratio of 8.35, a PEG ratio of 1.24 and a beta of 1.84. 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 (NASDAQ:FANG) last issued its quarterly earnings results on Tuesday, February 25th. The oil and natural gas company reported $3.64 EPS for the quarter, topping the consensus estimate of $3.57 by $0.07. The company had revenue of $3.71 billion during the quarter, compared to analyst estimates of $3.55 billion. Diamondback Energy had a net margin of 33.64% and a return on equity of 13.68%. Analysts expect that Diamondback Energy, Inc. will post 15.49 EPS for the current 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 given 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 2.74%. This is an increase from Diamondback Energy’s previous quarterly dividend of $0.90. Diamondback Energy’s payout ratio is currently 25.32%.

Analyst Upgrades and Downgrades

FANG has been the topic of a number of recent research reports. Piper Sandler lowered 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. Mizuho boosted their price target on Diamondback Energy from $201.00 to $204.00 and gave the stock an “outperform” rating in a report on Tuesday, February 25th. Raymond James lowered their price objective on Diamondback Energy from $245.00 to $214.00 and set a “strong-buy” rating for the company in a research report on Wednesday. JPMorgan Chase & Co. decreased their target price on Diamondback Energy from $212.00 to $167.00 and set an “overweight” rating for the company in a research report on Thursday. Finally, The Goldman Sachs Group started coverage on shares of Diamondback Energy in a research report on Monday, December 2nd. They issued a “buy” rating and a $227.00 price target on the stock. One analyst has rated the stock with a sell rating, three have assigned a hold rating, eighteen have given a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $211.92.

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.