Sava Infond d.o.o. Makes New Investment in Diamondback Energy, Inc. (NASDAQ:FANG)

Sava Infond d.o.o. acquired a new position in shares of Diamondback Energy, Inc. (NASDAQ:FANG) in the fourth quarter, Holdings Channel reports. The fund acquired 1,800 shares of the oil and natural gas company’s stock, valued at approximately $295,000.

Other hedge funds have also recently modified their holdings of the company. Wintrust Investments LLC acquired a new stake in shares of Diamondback Energy in the 4th quarter valued at approximately $28,000. R Squared Ltd purchased a new stake in shares of Diamondback Energy in the fourth quarter valued at $29,000. UMB Bank n.a. increased its position in Diamondback Energy by 247.3% during the fourth quarter. UMB Bank n.a. now owns 191 shares of the oil and natural gas company’s stock worth $31,000 after purchasing an additional 136 shares during the last quarter. Key Financial Inc increased its holdings in shares of Diamondback Energy by 940.0% during the 4th quarter. Key Financial Inc now owns 208 shares of the oil and natural gas company’s stock worth $34,000 after buying an additional 188 shares during the last quarter. Finally, Rakuten Securities Inc. lifted its stake in shares of Diamondback Energy by 62.4% in the 4th quarter. Rakuten Securities Inc. now owns 276 shares of the oil and natural gas company’s stock valued at $45,000 after purchasing an additional 106 shares in the last quarter. 90.01% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other Diamondback Energy news, Director Frank D. Tsuru acquired 2,000 shares of the business’s stock in a transaction that occurred on Friday, February 28th. The shares were purchased at an average price of $156.51 per share, with a total value of $313,020.00. Following the completion of the transaction, the director now owns 5,730 shares in the company, valued at $896,802.30. The trade was a 53.62 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 0.48% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

FANG has been the subject of several recent research reports. Royal Bank of Canada reiterated an “outperform” rating and issued a $210.00 price target on shares of Diamondback Energy in a report on Thursday, January 23rd. Piper Sandler cut their target price on shares of Diamondback Energy from $252.00 to $232.00 and set an “overweight” rating on the stock in a research note on Tuesday, December 17th. Williams Trading set a $190.00 price objective on Diamondback Energy in a research note on Wednesday, March 5th. Barclays lowered their target price on Diamondback Energy from $210.00 to $200.00 and set an “overweight” rating for the company in a report on Tuesday, March 18th. Finally, Wells Fargo & Company cut their price target on Diamondback Energy from $219.00 to $215.00 and set an “overweight” rating on the stock in a report on Wednesday, March 12th. Four analysts have rated the stock with a hold rating, eighteen have given a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $209.33.

Diamondback Energy Price Performance

NASDAQ FANG opened at $160.23 on Friday. The firm has a market capitalization of $46.38 billion, a price-to-earnings ratio of 9.17, a price-to-earnings-growth ratio of 1.24 and a beta of 1.85. 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 company has a 50 day simple moving average of $159.11 and a 200-day simple moving average of $169.88. Diamondback Energy, Inc. has a 52-week low of $137.09 and a 52-week high of $214.50.

Diamondback Energy (NASDAQ:FANG) last posted its quarterly 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. Diamondback Energy had a net margin of 33.64% and a return on equity of 13.68%. The business had revenue of $3.71 billion for the quarter, compared to the consensus estimate of $3.55 billion. Equities research analysts predict that Diamondback Energy, Inc. will post 15.49 earnings per share for the current fiscal year.

Diamondback Energy Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, March 13th. Stockholders of record on Thursday, March 6th were paid a dividend of $1.00 per share. The ex-dividend date of this dividend was Thursday, March 6th. This is an increase from Diamondback Energy’s previous quarterly dividend of $0.90. This represents a $4.00 dividend on an annualized basis and a dividend yield of 2.50%. Diamondback Energy’s dividend payout ratio (DPR) is 25.32%.

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.