Delphi Management Inc. MA Buys 655 Shares of Diamondback Energy, Inc. (NASDAQ:FANG)

Delphi Management Inc. MA increased its stake in Diamondback Energy, Inc. (NASDAQ:FANG) by 8.8% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 8,107 shares of the oil and natural gas company’s stock after purchasing an additional 655 shares during the period. Delphi Management Inc. MA’s holdings in Diamondback Energy were worth $1,328,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. Wintrust Investments LLC bought a new position in shares of Diamondback Energy in the fourth quarter worth approximately $28,000. R Squared Ltd bought a new position in Diamondback Energy during the fourth quarter valued at approximately $29,000. UMB Bank n.a. grew its position in Diamondback Energy by 247.3% during the fourth quarter. UMB Bank n.a. now owns 191 shares of the oil and natural gas company’s stock valued at $31,000 after acquiring an additional 136 shares during the last quarter. Key Financial Inc grew its position in Diamondback Energy by 940.0% during the fourth quarter. Key Financial Inc now owns 208 shares of the oil and natural gas company’s stock valued at $34,000 after acquiring an additional 188 shares during the last quarter. Finally, Rakuten Securities Inc. grew its position in Diamondback Energy by 62.4% during the fourth quarter. Rakuten Securities Inc. now owns 276 shares of the oil and natural gas company’s stock valued at $45,000 after acquiring an additional 106 shares during the last quarter. 90.01% of the stock is currently owned by institutional investors.

Diamondback Energy Stock Performance

Shares of Diamondback Energy stock opened at $153.03 on Tuesday. The company has a current ratio of 0.45, a quick ratio of 0.42 and a debt-to-equity ratio of 0.31. The firm has a market capitalization of $44.29 billion, a P/E ratio of 8.76, a P/E/G ratio of 1.24 and a beta of 1.85. The business has a fifty day simple moving average of $161.67 and a two-hundred day simple moving average of $171.22. Diamondback Energy, Inc. has a 12 month low of $137.09 and a 12 month high of $214.50.

Diamondback Energy (NASDAQ:FANG) last announced its quarterly earnings data on Tuesday, February 25th. The oil and natural gas company reported $3.64 EPS for the quarter, beating the consensus estimate of $3.57 by $0.07. The business had revenue of $3.71 billion during 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%. On average, equities analysts forecast that Diamondback Energy, Inc. will post 15.49 earnings per share for the current fiscal year.

Diamondback Energy Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, March 13th. Stockholders of record on Thursday, March 6th were given a $1.00 dividend. This represents a $4.00 annualized dividend and a dividend yield of 2.61%. 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%.

Wall Street Analyst Weigh In

A number of research analysts have commented on the stock. Raymond James reduced their price target on shares of Diamondback Energy from $245.00 to $214.00 and set a “strong-buy” rating on the stock in a research report on Wednesday, March 12th. JPMorgan Chase & Co. reduced their price target on shares of Diamondback Energy from $212.00 to $167.00 and set an “overweight” rating on the stock in a research report on Thursday, March 13th. Citigroup reduced their price target on shares of Diamondback Energy from $195.00 to $157.00 and set a “neutral” rating on the stock in a research report on Monday. Truist Financial raised their target price on shares of Diamondback Energy from $236.00 to $238.00 and gave the stock a “buy” rating in a report on Wednesday, February 19th. Finally, Wells Fargo & Company cut their target price on shares of Diamondback Energy from $219.00 to $215.00 and set an “overweight” rating on the stock in a report on Wednesday, March 12th. Four research analysts have rated the stock with a hold rating, eighteen have issued a buy rating and two have given a strong buy rating to the stock. According to MarketBeat, Diamondback Energy presently has an average rating of “Moderate Buy” and an average price target of $210.33.

Insider Transactions at Diamondback Energy

In related news, Director Frank D. Tsuru purchased 2,000 shares of the stock in a transaction dated Friday, February 28th. The stock was purchased at an average price of $156.51 per share, with a total value of $313,020.00. Following the transaction, the director now directly owns 5,730 shares in the company, valued at $896,802.30. This trade represents a 53.62 % increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 0.48% of the stock is 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.