Amundi Pioneer Asset Management Inc. lifted its position in shares of Diamondback Energy Inc (NASDAQ:FANG) by 76.5% during the first quarter, HoldingsChannel reports. The firm owned 250,087 shares of the oil and natural gas company’s stock after purchasing an additional 108,412 shares during the quarter. Amundi Pioneer Asset Management Inc.’s holdings in Diamondback Energy were worth $25,391,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Northern Trust Corp increased its stake in Diamondback Energy by 2.0% during the first quarter. Northern Trust Corp now owns 1,669,674 shares of the oil and natural gas company’s stock valued at $169,522,000 after purchasing an additional 33,169 shares during the last quarter. Simmons Bank increased its stake in Diamondback Energy by 7.3% during the first quarter. Simmons Bank now owns 5,833 shares of the oil and natural gas company’s stock valued at $592,000 after purchasing an additional 395 shares during the last quarter. Teza Capital Management LLC bought a new stake in Diamondback Energy during the first quarter valued at $1,613,000. FIL Ltd increased its stake in Diamondback Energy by 27.7% during the first quarter. FIL Ltd now owns 1,212,863 shares of the oil and natural gas company’s stock valued at $123,142,000 after purchasing an additional 263,178 shares during the last quarter. Finally, Delek Group Ltd. increased its stake in Diamondback Energy by 13.9% during the first quarter. Delek Group Ltd. now owns 221,860 shares of the oil and natural gas company’s stock valued at $22,414,000 after purchasing an additional 27,060 shares during the last quarter. 98.97% of the stock is currently owned by institutional investors and hedge funds.
In other Diamondback Energy news, insider Randall J. Holder sold 4,000 shares of the company’s stock in a transaction dated Monday, March 18th. The shares were sold at an average price of $104.13, for a total value of $416,520.00. Following the completion of the sale, the insider now directly owns 14,448 shares of the company’s stock, valued at approximately $1,504,470.24. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP Russell Pantermuehl sold 5,000 shares of the company’s stock in a transaction dated Tuesday, May 21st. The shares were sold at an average price of $112.18, for a total transaction of $560,900.00. Following the completion of the sale, the vice president now directly owns 117,107 shares of the company’s stock, valued at $13,137,063.26. The disclosure for this sale can be found here. 0.47% of the stock is currently owned by corporate insiders.
FANG stock opened at $98.21 on Thursday. The stock has a market capitalization of $15.98 billion, a P/E ratio of 16.73, a P/E/G ratio of 0.58 and a beta of 0.83. Diamondback Energy Inc has a fifty-two week low of $85.19 and a fifty-two week high of $140.78. The company has a debt-to-equity ratio of 0.32, a current ratio of 0.62 and a quick ratio of 0.59.
Diamondback Energy (NASDAQ:FANG) last issued its quarterly earnings results on Tuesday, May 7th. The oil and natural gas company reported $1.39 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.36 by $0.03. Diamondback Energy had a net margin of 27.05% and a return on equity of 6.81%. The company had revenue of $864.00 million during the quarter, compared to the consensus estimate of $893.16 million. During the same period in the prior year, the company earned $1.64 EPS. Diamondback Energy’s revenue was up 80.4% on a year-over-year basis. On average, analysts anticipate that Diamondback Energy Inc will post 8.07 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which was paid on Tuesday, June 4th. Shareholders of record on Tuesday, May 28th were issued a $0.188 dividend. This represents a $0.75 dividend on an annualized basis and a yield of 0.77%. This is an increase from Diamondback Energy’s previous quarterly dividend of $0.13. The ex-dividend date was Friday, May 24th. Diamondback Energy’s dividend payout ratio is presently 12.78%.
Several equities analysts have recently commented on the stock. Morgan Stanley lowered their price target on shares of Diamondback Energy from $154.00 to $144.00 and set an “overweight” rating for the company in a research report on Thursday, March 21st. Williams Capital restated a “buy” rating and set a $153.00 price target on shares of Diamondback Energy in a research report on Wednesday, February 20th. ValuEngine upgraded shares of Diamondback Energy from a “sell” rating to a “hold” rating in a research report on Wednesday, March 20th. Wells Fargo & Co upped their price target on shares of Diamondback Energy from $161.00 to $177.00 and gave the stock an “outperform” rating in a research report on Wednesday, March 13th. Finally, Raymond James upgraded shares of Diamondback Energy from an “outperform” rating to a “strong-buy” rating in a research report on Thursday, May 9th. Three equities research analysts have rated the stock with a hold rating, twenty-five have assigned a buy rating and two have assigned a strong buy rating to the company. Diamondback Energy has a consensus rating of “Buy” and a consensus target price of $160.74.
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Diamondback Energy Profile
Diamondback Energy, Inc, an independent oil and natural gas company, focuses on the acquisition, development, exploration, and exploitation of unconventional and onshore oil and natural gas reserves in the Permian Basin in West Texas. It primarily 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.
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