OV Management LLC Purchases 850 Shares of Diamondback Energy, Inc. (NASDAQ:FANG)

OV Management LLC increased its position in Diamondback Energy, Inc. (NASDAQ:FANG) by 8.2% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 11,182 shares of the oil and natural gas company’s stock after buying an additional 850 shares during the quarter. OV Management LLC’s holdings in Diamondback Energy were worth $1,832,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also added to or reduced their stakes in the company. Wintrust Investments LLC purchased a new stake in shares of Diamondback Energy during the fourth quarter worth about $28,000. R Squared Ltd purchased a new position in shares of Diamondback Energy during the fourth quarter valued at approximately $29,000. UMB Bank n.a. raised its holdings in shares of 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 in the last quarter. Key Financial Inc raised its holdings in shares of 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 in the last quarter. Finally, Rakuten Securities Inc. boosted its holdings in Diamondback Energy by 62.4% in 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 in the last quarter. Hedge funds and other institutional investors own 90.01% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on the stock. Morgan Stanley cut their target price on shares of Diamondback Energy from $227.00 to $206.00 and set an “overweight” rating on the stock in a research note on Thursday, March 27th. JPMorgan Chase & Co. reduced their target price on Diamondback Energy from $212.00 to $167.00 and set an “overweight” rating on the stock in a report on Thursday, March 13th. Mizuho raised their target price on Diamondback Energy from $201.00 to $204.00 and gave the company an “outperform” rating in a research note on Tuesday, February 25th. Wells Fargo & Company decreased their price objective on Diamondback Energy from $219.00 to $215.00 and set an “overweight” rating for the company in a report on Wednesday, March 12th. Finally, Raymond James dropped their target price on shares of Diamondback Energy from $245.00 to $214.00 and set a “strong-buy” rating on the stock in a report on Wednesday, March 12th. Four analysts have rated the stock with a hold rating, eighteen have given a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $209.33.

Insider Buying and Selling at Diamondback Energy

In other Diamondback Energy news, Director Frank D. Tsuru acquired 2,000 shares of the company’s stock in a transaction that occurred on Friday, February 28th. The shares were bought 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 owns 5,730 shares in the company, valued at $896,802.30. This represents a 53.62 % increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 0.48% of the company’s stock.

Diamondback Energy Stock Performance

Shares of FANG stock opened at $159.88 on Tuesday. The company has a quick ratio of 0.42, a current ratio of 0.45 and a debt-to-equity ratio of 0.31. The company has a 50 day moving average price of $158.25 and a 200-day moving average price of $169.65. Diamondback Energy, Inc. has a 52 week low of $137.09 and a 52 week high of $214.50. The firm has a market capitalization of $46.28 billion, a PE ratio of 9.15, a P/E/G ratio of 1.24 and a beta of 1.85.

Diamondback Energy (NASDAQ:FANG) last announced its 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 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%. As a group, equities research analysts expect that Diamondback Energy, Inc. will post 15.49 earnings per share for the current year.

Diamondback Energy Increases Dividend

The company 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. This represents a $4.00 annualized dividend and a yield of 2.50%. This is a boost from Diamondback Energy’s previous quarterly dividend of $0.90. The ex-dividend date was Thursday, March 6th. Diamondback Energy’s dividend payout ratio (DPR) is presently 25.32%.

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.