Diamondback Energy, Inc. (NASDAQ:FANG) Shares Acquired by Artisan Partners Limited Partnership

Artisan Partners Limited Partnership grew its holdings in Diamondback Energy, Inc. (NASDAQ:FANG) by 33,693.9% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 457,908 shares of the oil and natural gas company’s stock after acquiring an additional 456,553 shares during the quarter. Artisan Partners Limited Partnership’s holdings in Diamondback Energy were worth $75,019,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of the business. Mitsubishi UFJ Asset Management Co. Ltd. grew its stake in Diamondback Energy by 18.2% during the 4th quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 327,284 shares of the oil and natural gas company’s stock valued at $55,952,000 after purchasing an additional 50,423 shares during the last quarter. TrueMark Investments LLC increased its holdings in Diamondback Energy by 21.4% in the 4th quarter. TrueMark Investments LLC now owns 2,347 shares of the oil and natural gas company’s stock worth $385,000 after buying an additional 413 shares during the period. Mitsubishi UFJ Trust & Banking Corp raised its position in Diamondback Energy by 4.2% during the 4th quarter. Mitsubishi UFJ Trust & Banking Corp now owns 100,797 shares of the oil and natural gas company’s stock worth $16,514,000 after buying an additional 4,085 shares during the last quarter. Meiji Yasuda Asset Management Co Ltd. lifted its stake in Diamondback Energy by 8.3% during the 4th quarter. Meiji Yasuda Asset Management Co Ltd. now owns 3,906 shares of the oil and natural gas company’s stock valued at $640,000 after acquiring an additional 300 shares during the period. Finally, FineMark National Bank & Trust boosted its holdings in shares of Diamondback Energy by 0.8% in the 4th quarter. FineMark National Bank & Trust now owns 37,027 shares of the oil and natural gas company’s stock valued at $6,066,000 after acquiring an additional 288 shares during the last quarter. Hedge funds and other institutional investors own 90.01% of the company’s stock.

Insider Transactions at Diamondback Energy

In related news, Director Frank D. Tsuru bought 2,000 shares of the business’s stock in a transaction on Friday, February 28th. The stock was acquired at an average cost of $156.51 per share, with a total value of $313,020.00. Following the purchase, the director now directly 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 transaction was disclosed in a filing with the SEC, which is available at the SEC website. Insiders own 0.48% of the company’s stock.

Analysts Set New Price Targets

Several research analysts recently issued reports on the stock. The Goldman Sachs Group started coverage on shares of Diamondback Energy in a report on Monday, December 2nd. They set a “buy” rating and a $227.00 target price for the company. Truist Financial lifted their price objective on Diamondback Energy from $236.00 to $238.00 and gave the company a “buy” rating in a research note on Wednesday, February 19th. Morgan Stanley lowered their target price on Diamondback Energy from $227.00 to $206.00 and set an “overweight” rating on the stock in a research note on Thursday. Wells Fargo & Company dropped their target price on Diamondback Energy from $219.00 to $215.00 and set an “overweight” rating on the stock in a report on Wednesday, March 12th. Finally, Williams Trading set a $190.00 price target on Diamondback Energy in a report on Wednesday, March 5th. Four research 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. According to MarketBeat.com, Diamondback Energy presently has a consensus rating of “Moderate Buy” and a consensus price target of $209.33.

Diamondback Energy Stock Down 1.8 %

NASDAQ FANG opened at $160.23 on Friday. The business has a fifty day moving average price of $159.11 and a 200 day moving average price of $169.88. 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 company has a market cap of $46.38 billion, a P/E ratio of 9.17, a P/E/G ratio of 1.24 and a beta of 1.85. Diamondback Energy, Inc. has a one year low of $137.09 and a one year high of $214.50.

Diamondback Energy (NASDAQ:FANG) last issued its earnings results on Tuesday, February 25th. The oil and natural gas company reported $3.64 EPS 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 analysts’ expectations of $3.55 billion. Diamondback Energy had a net margin of 33.64% and a return on equity of 13.68%. Research analysts anticipate that Diamondback Energy, Inc. will post 15.49 EPS for the current fiscal year.

Diamondback Energy Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, March 13th. Shareholders of record on Thursday, March 6th were paid a $1.00 dividend. This represents a $4.00 dividend on an annualized basis and a yield of 2.50%. This is a positive change from Diamondback Energy’s previous quarterly dividend of $0.90. The ex-dividend date of this dividend was Thursday, March 6th. Diamondback Energy’s dividend payout ratio (DPR) is 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.