Erste Asset Management GmbH Has $27,000 Position in Diamondback Energy, Inc. (NASDAQ:FANG)

Erste Asset Management GmbH lessened its position in shares of Diamondback Energy, Inc. (NASDAQ:FANG) by 97.3% in the fourth quarter, according to its most recent filing with the SEC. The firm owned 170 shares of the oil and natural gas company’s stock after selling 6,100 shares during the quarter. Erste Asset Management GmbH’s holdings in Diamondback Energy were worth $27,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the company. State Street Corp increased its position in 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 purchasing an additional 149,871 shares during the period. Geode Capital Management LLC increased its position in 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 valued at $793,611,000 after purchasing an additional 266,299 shares during the period. Bank of New York Mellon Corp increased its position in Diamondback Energy by 13.7% during 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 purchasing an additional 502,916 shares during the period. Pacer Advisors Inc. increased its position in Diamondback Energy by 9.3% during the 3rd quarter. Pacer Advisors Inc. now owns 2,704,520 shares of the oil and natural gas company’s stock valued at $466,259,000 after purchasing an additional 230,689 shares during the period. Finally, Raymond James Financial Inc. acquired a new stake in Diamondback Energy during the 4th quarter valued at approximately $298,327,000. Institutional investors and hedge funds own 90.01% of the company’s stock.

Wall Street Analyst Weigh In

FANG has been the topic of a number of research analyst reports. Raymond James cut their price target on Diamondback Energy from $245.00 to $214.00 and set a “strong-buy” rating on the stock in a report on Wednesday. JPMorgan Chase & Co. cut their price target on Diamondback Energy from $212.00 to $167.00 and set an “overweight” rating on the stock in a report on Thursday. The Goldman Sachs Group initiated coverage on Diamondback Energy in a report on Monday, December 2nd. They set a “buy” rating and a $227.00 price target on the stock. Truist Financial increased their price target on Diamondback Energy from $236.00 to $238.00 and gave the stock a “buy” rating in a report on Wednesday, February 19th. Finally, 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. One equities research analyst has rated the stock with a sell rating, three have given a hold rating, eighteen have assigned a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $211.92.

Diamondback Energy Stock Up 3.0 %

Shares of NASDAQ FANG opened at $150.20 on Friday. Diamondback Energy, Inc. has a 12 month low of $137.09 and a 12 month high of $214.50. The company has a current ratio of 0.45, a quick ratio of 0.42 and a debt-to-equity ratio of 0.31. The firm has a market capitalization of $43.47 billion, a price-to-earnings ratio of 8.60, a PEG ratio of 1.24 and a beta of 1.84. The business has a 50-day moving average of $162.00 and a 200-day moving average of $171.69.

Diamondback Energy (NASDAQ:FANG) last issued its quarterly earnings data on Tuesday, February 25th. The oil and natural gas company reported $3.64 EPS for the quarter, topping the consensus estimate of $3.57 by $0.07. Diamondback Energy had a return on equity of 13.68% and a net margin of 33.64%. The company had revenue of $3.71 billion during the quarter, compared to analyst estimates of $3.55 billion. Sell-side analysts expect that Diamondback Energy, Inc. will post 15.49 earnings per share for the current fiscal year.

Diamondback Energy Increases Dividend

The company 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. The ex-dividend date was Thursday, March 6th. This represents a $4.00 annualized dividend and a yield of 2.66%. This is a positive change from Diamondback Energy’s previous quarterly dividend of $0.90. Diamondback Energy’s dividend payout ratio is currently 25.32%.

Insiders Place Their Bets

In other 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 price of $156.51 per share, with a total value of $313,020.00. Following the completion of the purchase, the director now directly owns 5,730 shares in the company, valued at $896,802.30. This represents a 53.62 % increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. 0.48% of the stock is owned by insiders.

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.