Schwartz Investment Counsel Inc. Acquires 600 Shares of Diamondback Energy, Inc. (NASDAQ:FANG)

Schwartz Investment Counsel Inc. grew its holdings in shares of Diamondback Energy, Inc. (NASDAQ:FANG) by 0.2% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 290,300 shares of the oil and natural gas company’s stock after buying an additional 600 shares during the quarter. Diamondback Energy makes up 1.7% of Schwartz Investment Counsel Inc.’s portfolio, making the stock its 21st largest position. Schwartz Investment Counsel Inc.’s holdings in Diamondback Energy were worth $47,560,000 as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of the stock. R Squared Ltd acquired a new stake in Diamondback Energy in the 4th quarter valued at about $29,000. UMB Bank n.a. raised its stake 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 valued at $31,000 after buying an additional 136 shares during the period. Values First Advisors Inc. acquired a new stake in shares of Diamondback Energy in the third quarter valued at approximately $42,000. Ashton Thomas Securities LLC bought a new position in shares of Diamondback Energy during the 3rd quarter worth approximately $52,000. Finally, Synergy Asset Management LLC acquired a new position in shares of Diamondback Energy during the 4th quarter worth approximately $67,000. Institutional investors own 90.01% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have issued reports on the company. Royal Bank of Canada reaffirmed an “outperform” rating and set a $210.00 price target on shares of Diamondback Energy in a report on Thursday, January 23rd. KeyCorp decreased their price target on shares of Diamondback Energy from $225.00 to $216.00 and set an “overweight” rating on the stock in a research note on Wednesday, October 16th. Susquehanna reduced their price objective on Diamondback Energy from $237.00 to $233.00 and set a “positive” rating for the company in a report on Friday, October 18th. Benchmark reiterated a “buy” rating and set a $195.00 target price on shares of Diamondback Energy in a research note on Tuesday, October 29th. Finally, JPMorgan Chase & Co. boosted their price target on Diamondback Energy from $191.00 to $195.00 and gave the company an “overweight” rating in a research note on Friday, January 17th. Four equities 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. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $215.00.

Diamondback Energy Stock Up 0.2 %

Shares of FANG opened at $162.01 on Wednesday. The stock 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 stock has a fifty day moving average of $167.26 and a 200-day moving average of $178.89.

Diamondback Energy Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, November 21st. Stockholders of record on Thursday, November 14th were paid a dividend of $0.90 per share. This represents a $3.60 annualized dividend and a dividend yield of 2.22%. The ex-dividend date of this dividend was Thursday, November 14th. Diamondback Energy’s payout ratio is currently 20.61%.

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.