O Shaughnessy Asset Management LLC Has $4.39 Million Stake in Diamondback Energy, Inc. (NASDAQ:FANG)

O Shaughnessy Asset Management LLC reduced its holdings in shares of Diamondback Energy, Inc. (NASDAQ:FANG) by 23.4% in the fourth quarter, HoldingsChannel.com reports. The fund owned 26,816 shares of the oil and natural gas company’s stock after selling 8,192 shares during the quarter. O Shaughnessy Asset Management LLC’s holdings in Diamondback Energy were worth $4,393,000 at the end of the most recent quarter.

Several other hedge funds have also recently made changes to their positions in the business. State Street Corp lifted its position in shares of Diamondback Energy by 1.3% during the 3rd quarter. State Street Corp now owns 11,858,555 shares of the oil and natural gas company’s stock valued at $2,044,415,000 after acquiring an additional 149,871 shares during the period. Boston Partners raised its holdings in shares of Diamondback Energy by 12.4% during 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 purchasing an additional 571,820 shares during the period. Geode Capital Management LLC boosted its position in shares of Diamondback Energy by 6.1% during the 3rd quarter. Geode Capital Management LLC now owns 4,618,560 shares of the oil and natural gas company’s stock worth $793,611,000 after purchasing an additional 266,299 shares in the last quarter. Bank of New York Mellon Corp grew its stake in shares of Diamondback Energy by 13.7% in the 4th quarter. Bank of New York Mellon Corp now owns 4,163,070 shares of the oil and natural gas company’s stock valued at $682,036,000 after buying an additional 502,916 shares during the period. Finally, Diamond Hill Capital Management Inc. increased its position in 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 in the last quarter. 90.01% of the stock is owned by institutional investors.

Diamondback Energy Stock Up 0.4 %

Shares of NASDAQ FANG opened at $161.49 on Thursday. The company has a debt-to-equity ratio of 0.31, a current ratio of 0.45 and a quick ratio of 0.42. The stock has a market capitalization of $46.74 billion, a PE ratio of 9.24, 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. The business’s fifty day moving average price is $157.61 and its 200-day moving average price is $169.51.

Diamondback Energy (NASDAQ:FANG) last issued its earnings results on Tuesday, February 25th. The oil and natural gas company reported $3.64 earnings per share for the quarter, topping analysts’ consensus estimates of $3.57 by $0.07. The firm 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%. On average, equities research analysts anticipate that Diamondback Energy, Inc. will post 15.49 EPS for the current 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 paid a $1.00 dividend. This represents a $4.00 dividend on an annualized basis and a yield of 2.48%. This is a positive change from Diamondback Energy’s previous quarterly dividend of $0.90. The ex-dividend date was Thursday, March 6th. Diamondback Energy’s payout ratio is currently 25.32%.

Insider Buying and Selling at Diamondback Energy

In related news, Director Frank D. Tsuru bought 2,000 shares of Diamondback Energy stock in a transaction on Friday, February 28th. The stock was acquired at an average price of $156.51 per share, with a total value of $313,020.00. Following the acquisition, the director now directly owns 5,730 shares of the company’s stock, valued at $896,802.30. This represents a 53.62 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 0.48% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have issued reports on the company. Mizuho increased their price target on Diamondback Energy from $201.00 to $204.00 and gave the stock an “outperform” rating in a report on Tuesday, February 25th. JPMorgan Chase & Co. decreased their price target on shares of Diamondback Energy from $212.00 to $167.00 and set an “overweight” rating for the company in a research note on Thursday, March 13th. Wells Fargo & Company lowered their price objective on shares of Diamondback Energy from $219.00 to $215.00 and set an “overweight” rating on the stock in a report on Wednesday, March 12th. UBS Group lifted their price objective on shares of Diamondback Energy from $212.00 to $216.00 and gave the company a “buy” rating in a report on Thursday, February 13th. Finally, Truist Financial upped their target price on shares of Diamondback Energy from $236.00 to $238.00 and gave the stock a “buy” rating in a report on Wednesday, February 19th. Four research analysts have rated the stock with a hold rating, eighteen have issued a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $209.33.

Diamondback Energy Company 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.