Waterloo Capital L.P. Raises Stock Position in Diamondback Energy, Inc. (NASDAQ:FANG)

Waterloo Capital L.P. grew its position in Diamondback Energy, Inc. (NASDAQ:FANG) by 12.1% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 9,566 shares of the oil and natural gas company’s stock after buying an additional 1,036 shares during the period. Waterloo Capital L.P.’s holdings in Diamondback Energy were worth $1,567,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Ilmarinen Mutual Pension Insurance Co increased its stake in Diamondback Energy by 87.5% during the fourth quarter. Ilmarinen Mutual Pension Insurance Co now owns 37,500 shares of the oil and natural gas company’s stock worth $6,144,000 after acquiring an additional 17,500 shares during the last quarter. Russell Investments Group Ltd. increased its position in shares of Diamondback Energy by 13.2% during the 4th quarter. Russell Investments Group Ltd. now owns 231,874 shares of the oil and natural gas company’s stock worth $37,988,000 after purchasing an additional 26,959 shares during the last quarter. Resona Asset Management Co. Ltd. purchased a new stake in Diamondback Energy in the 4th quarter valued at about $8,971,000. Arete Wealth Advisors LLC raised its holdings in Diamondback Energy by 924.4% in the 4th quarter. Arete Wealth Advisors LLC now owns 17,773 shares of the oil and natural gas company’s stock valued at $2,911,000 after buying an additional 16,038 shares during the period. Finally, World Investment Advisors lifted its position in Diamondback Energy by 0.7% in the fourth quarter. World Investment Advisors now owns 22,987 shares of the oil and natural gas company’s stock valued at $3,766,000 after buying an additional 164 shares during the last quarter. Institutional investors and hedge funds own 90.01% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on FANG shares. Morgan Stanley reduced their price target on shares of Diamondback Energy from $227.00 to $206.00 and set an “overweight” rating on the stock in a research note on Thursday, March 27th. Piper Sandler cut their target price on Diamondback Energy from $252.00 to $232.00 and set an “overweight” rating on the stock in a research report on Tuesday, December 17th. Truist Financial raised their price target on Diamondback Energy from $236.00 to $238.00 and gave the stock a “buy” rating in a research report on Wednesday, February 19th. Barclays cut their price objective on Diamondback Energy from $210.00 to $200.00 and set an “overweight” rating on the stock in a report on Tuesday, March 18th. Finally, Mizuho raised their target price on Diamondback Energy from $201.00 to $204.00 and gave the company an “outperform” rating in a report on Tuesday, February 25th. Four equities 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 stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $209.33.

Insider Transactions at Diamondback Energy

In other news, Director Frank D. Tsuru bought 2,000 shares of the firm’s stock in a transaction that occurred on Friday, February 28th. The stock was purchased at an average cost of $156.51 per share, with a total value of $313,020.00. Following the transaction, the director now directly owns 5,730 shares in the company, valued at $896,802.30. This trade represents a 53.62 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Insiders own 0.48% of the company’s stock.

Diamondback Energy Trading Down 12.7 %

FANG opened at $123.37 on Monday. The company has a debt-to-equity ratio of 0.31, a quick ratio of 0.42 and a current ratio of 0.45. Diamondback Energy, Inc. has a one year low of $118.52 and a one year high of $214.50. The company has a market cap of $35.71 billion, a P/E ratio of 7.06, a PEG ratio of 1.24 and a beta of 1.44. The business’s 50-day simple moving average is $155.91 and its 200-day simple moving average is $168.82.

Diamondback Energy (NASDAQ:FANG) last released its quarterly earnings data 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. Diamondback Energy had a net margin of 33.64% and a return on equity of 13.68%. The company had revenue of $3.71 billion for the quarter, compared to analysts’ expectations of $3.55 billion. As a group, equities research analysts expect that Diamondback Energy, Inc. will post 15.49 EPS for the current fiscal year.

Diamondback Energy Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, March 13th. Shareholders of record on Thursday, March 6th were issued a dividend of $1.00 per share. This is a positive change from Diamondback Energy’s previous quarterly dividend of $0.90. The ex-dividend date was Thursday, March 6th. This represents a $4.00 annualized dividend and a dividend yield of 3.24%. Diamondback Energy’s dividend payout ratio (DPR) is presently 25.32%.

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.