Anchor Capital Advisors LLC Decreases Stock Position in Diamondback Energy, Inc. (NASDAQ:FANG)

Anchor Capital Advisors LLC decreased its holdings in Diamondback Energy, Inc. (NASDAQ:FANG) by 2.9% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 378,417 shares of the oil and natural gas company’s stock after selling 11,328 shares during the quarter. Diamondback Energy makes up 1.8% of Anchor Capital Advisors LLC’s portfolio, making the stock its 11th biggest position. Anchor Capital Advisors LLC’s holdings in Diamondback Energy were worth $61,996,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Nisa Investment Advisors LLC boosted its stake in Diamondback Energy by 6.0% during the 3rd quarter. Nisa Investment Advisors LLC now owns 54,813 shares of the oil and natural gas company’s stock valued at $9,450,000 after acquiring an additional 3,127 shares during the last quarter. China Universal Asset Management Co. Ltd. raised its stake in shares of Diamondback Energy by 111.1% in the 3rd quarter. China Universal Asset Management Co. Ltd. now owns 2,263 shares of the oil and natural gas company’s stock valued at $390,000 after purchasing an additional 1,191 shares in the last quarter. First Trust Direct Indexing L.P. lifted its position in shares of Diamondback Energy by 2.5% during the third quarter. First Trust Direct Indexing L.P. now owns 5,720 shares of the oil and natural gas company’s stock worth $986,000 after purchasing an additional 141 shares during the last quarter. Pinnacle Associates Ltd. grew its stake in Diamondback Energy by 4.5% in the third quarter. Pinnacle Associates Ltd. now owns 69,378 shares of the oil and natural gas company’s stock worth $11,961,000 after purchasing an additional 3,003 shares in the last quarter. Finally, Oak Harvest Investment Services increased its holdings in Diamondback Energy by 16.6% in the third quarter. Oak Harvest Investment Services now owns 51,061 shares of the oil and natural gas company’s stock valued at $8,803,000 after buying an additional 7,257 shares during the last quarter. Hedge funds and other institutional investors own 90.01% of the company’s stock.

Diamondback Energy Stock Up 2.1 %

Diamondback Energy stock opened at $155.59 on Friday. Diamondback Energy, Inc. has a 52 week low of $151.00 and a 52 week high of $214.50. The stock has a market cap of $45.43 billion, a price-to-earnings ratio of 8.91, a PEG ratio of 1.24 and a beta of 1.86. The company’s 50-day moving average price is $165.34 and its two-hundred day moving average price is $175.63. The company has a current ratio of 0.45, a quick ratio of 0.42 and a debt-to-equity ratio of 0.31.

Diamondback Energy (NASDAQ:FANG) last posted its quarterly earnings data 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 for 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, 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 will be paid on Thursday, March 13th. Stockholders of record on Thursday, March 6th will be issued a $1.00 dividend. This is a positive change from Diamondback Energy’s previous quarterly dividend of $0.90. The ex-dividend date of this dividend is Thursday, March 6th. This represents a $4.00 annualized dividend and a dividend yield of 2.57%. Diamondback Energy’s dividend payout ratio is 25.32%.

Analyst Ratings Changes

Several research analysts have recently commented on FANG shares. Royal Bank of Canada reiterated an “outperform” rating and issued a $210.00 target price on shares of Diamondback Energy in a research report on Thursday, January 23rd. Wells Fargo & Company lifted their price objective on shares of Diamondback Energy from $218.00 to $219.00 and gave the stock an “overweight” rating in a report on Tuesday, December 17th. Truist Financial increased 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. Raymond James lifted their price target on shares of Diamondback Energy from $237.00 to $256.00 and gave the company a “strong-buy” rating in a report on Thursday, January 23rd. Finally, Wolfe Research upgraded shares of Diamondback Energy from a “peer perform” rating to an “outperform” rating and set a $190.00 price objective on the stock in a research note on Friday, January 3rd. Four research analysts have rated the stock with a hold rating, eighteen have assigned a buy rating and two have given a strong buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $216.09.

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.