Cigna Investments Inc. New Buys 96 Shares of Diamondback Energy, Inc. (NASDAQ:FANG)

Cigna Investments Inc. New increased its position in shares of Diamondback Energy, Inc. (NASDAQ:FANG) by 5.2% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,938 shares of the oil and natural gas company’s stock after buying an additional 96 shares during the quarter. Cigna Investments Inc. New’s holdings in Diamondback Energy were worth $318,000 at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in FANG. R Squared Ltd acquired a new stake in shares of Diamondback Energy during the 4th quarter worth approximately $29,000. UMB Bank n.a. lifted its position in Diamondback Energy by 247.3% in the fourth quarter. UMB Bank n.a. now owns 191 shares of the oil and natural gas company’s stock worth $31,000 after purchasing an additional 136 shares during the period. Values First Advisors Inc. acquired a new stake in Diamondback Energy during the third quarter worth $42,000. Ashton Thomas Securities LLC bought a new stake in Diamondback Energy in the 3rd quarter valued at $52,000. Finally, Synergy Asset Management LLC acquired a new position in shares of Diamondback Energy in the 4th quarter valued at $67,000. Institutional investors and hedge funds own 90.01% of the company’s stock.

Diamondback Energy Stock Up 0.2 %

Shares of FANG opened at $162.01 on Wednesday. The firm has a market capitalization of $47.31 billion, a price-to-earnings ratio of 9.27, a PEG ratio of 1.24 and a beta of 1.86. Diamondback Energy, Inc. has a 52 week low of $152.00 and a 52 week high of $214.50. The company has a debt-to-equity ratio of 0.31, a quick ratio of 0.42 and a current ratio of 0.45. The business’s fifty day moving average price is $167.26 and its two-hundred day moving average price is $178.89.

Diamondback Energy Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, November 21st. Investors of record on Thursday, November 14th were given a $0.90 dividend. The ex-dividend date of this dividend was Thursday, November 14th. This represents a $3.60 dividend on an annualized basis and a yield of 2.22%. Diamondback Energy’s payout ratio is 20.61%.

Analysts Set New Price Targets

Several analysts have recently weighed in on the stock. Raymond James lifted their target price on shares of Diamondback Energy from $237.00 to $256.00 and gave the company a “strong-buy” rating in a research report on Thursday, January 23rd. Wolfe Research upgraded Diamondback Energy from a “peer perform” rating to an “outperform” rating and set a $190.00 price objective on the stock in a research note on Friday, January 3rd. KeyCorp cut their target price on Diamondback Energy from $225.00 to $216.00 and set an “overweight” rating for the company in a research report on Wednesday, October 16th. Mizuho lowered their price target on Diamondback Energy from $219.00 to $207.00 and set an “outperform” rating on the stock in a research report on Monday, December 16th. Finally, StockNews.com upgraded Diamondback Energy from a “sell” rating to a “hold” rating in a research note on Wednesday, November 13th. Four research analysts have rated the stock with a hold rating, eighteen have issued a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $215.00.

About Diamondback Energy

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.