Schroder Investment Management Group Has $31.70 Million Stake in Diamondback Energy, Inc. (NASDAQ:FANG)

Schroder Investment Management Group boosted its holdings in Diamondback Energy, Inc. (NASDAQ:FANG) by 12.2% in the fourth quarter, Holdings Channel reports. The firm owned 196,943 shares of the oil and natural gas company’s stock after purchasing an additional 21,396 shares during the quarter. Schroder Investment Management Group’s holdings in Diamondback Energy were worth $31,704,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in FANG. Raymond James Financial Inc. bought a new stake in Diamondback Energy during the fourth quarter worth about $298,327,000. Assenagon Asset Management S.A. raised its stake in shares of Diamondback Energy by 1,153.0% during the 4th quarter. Assenagon Asset Management S.A. now owns 1,132,918 shares of the oil and natural gas company’s stock worth $185,606,000 after purchasing an additional 1,042,505 shares in the last quarter. Diamond Hill Capital Management Inc. boosted its holdings in shares of Diamondback Energy by 30.5% in the 4th 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 buying an additional 658,644 shares during the last quarter. Boston Partners grew its stake in shares of Diamondback Energy by 12.4% in the fourth quarter. Boston Partners now owns 5,169,742 shares of the oil and natural gas company’s stock valued at $849,202,000 after buying an additional 571,820 shares in the last quarter. Finally, Zimmer Partners LP acquired a new position in Diamondback Energy during the third quarter worth $87,924,000. 90.01% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of brokerages have commented on FANG. Wells Fargo & Company cut their price target on shares of Diamondback Energy from $219.00 to $215.00 and set an “overweight” rating for the company in a research note on Wednesday, March 12th. Piper Sandler reduced their price target on Diamondback Energy from $252.00 to $232.00 and set an “overweight” rating for the company in a report on Tuesday, December 17th. Raymond James dropped their price objective on Diamondback Energy from $245.00 to $214.00 and set a “strong-buy” rating on the stock in a research note on Wednesday, March 12th. Wolfe Research upgraded 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. Finally, Citigroup dropped their price target on Diamondback Energy from $195.00 to $157.00 and set a “neutral” rating on the stock in a research note on Monday, March 17th. Four equities research 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. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $209.33.

Insider Activity at Diamondback Energy

In related news, Director Frank D. Tsuru bought 2,000 shares of the company’s 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 completion of the acquisition, the director now owns 5,730 shares of the company’s stock, valued at $896,802.30. The trade was a 53.62 % increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 0.48% of the stock is currently owned by insiders.

Diamondback Energy Price Performance

FANG stock opened at $160.87 on Wednesday. The company’s 50-day moving average price is $157.93 and its two-hundred day moving average price is $169.57. The firm has a market cap of $46.56 billion, a P/E ratio of 9.21, a P/E/G ratio of 1.24 and a beta of 1.85. The company has a quick ratio of 0.42, a current ratio of 0.45 and a debt-to-equity ratio of 0.31. 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 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.57 by $0.07. Diamondback Energy had a net margin of 33.64% and a return on equity of 13.68%. The business had revenue of $3.71 billion for the quarter, compared to analysts’ expectations of $3.55 billion. On average, analysts anticipate that Diamondback Energy, Inc. will post 15.49 earnings per share for the current fiscal year.

Diamondback Energy Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, March 13th. Investors of record on Thursday, March 6th were given a dividend of $1.00 per share. This is an increase from Diamondback Energy’s previous quarterly dividend of $0.90. This represents a $4.00 annualized dividend and a dividend yield of 2.49%. The ex-dividend date of this dividend was Thursday, March 6th. Diamondback Energy’s dividend payout ratio is currently 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.