Swedbank AB Buys 43,361 Shares of Diamondback Energy, Inc. (NASDAQ:FANG)

Swedbank AB lifted its position in shares of Diamondback Energy, Inc. (NASDAQ:FANG) by 28.0% in the fourth quarter, Holdings Channel reports. The institutional investor owned 198,283 shares of the oil and natural gas company’s stock after acquiring an additional 43,361 shares during the period. Swedbank AB’s holdings in Diamondback Energy were worth $32,485,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Assenagon Asset Management S.A. raised its holdings in Diamondback Energy by 1,153.0% in the 4th quarter. Assenagon Asset Management S.A. now owns 1,132,918 shares of the oil and natural gas company’s stock valued at $185,606,000 after acquiring an additional 1,042,505 shares in the last quarter. Zimmer Partners LP acquired a new stake in shares of Diamondback Energy in the 3rd quarter valued at approximately $87,924,000. Holocene Advisors LP grew its stake in shares of Diamondback Energy by 95.3% during the third quarter. Holocene Advisors LP now owns 938,474 shares of the oil and natural gas company’s stock worth $161,793,000 after buying an additional 457,896 shares during the last quarter. Diamond Hill Capital Management Inc. grew its position in Diamondback Energy by 25.6% during the 3rd quarter. Diamond Hill Capital Management Inc. now owns 2,158,910 shares of the oil and natural gas company’s stock worth $372,196,000 after acquiring an additional 439,579 shares during the last quarter. Finally, International Assets Investment Management LLC increased its stake in shares of Diamondback Energy by 17,151.2% in the third quarter. International Assets Investment Management LLC now owns 340,021 shares of the oil and natural gas company’s stock valued at $58,620,000 after buying an additional 338,050 shares during the period. Institutional investors and hedge funds own 90.01% of the company’s stock.

Analyst Ratings Changes

A number of analysts recently weighed in on the company. Citigroup initiated coverage on Diamondback Energy in a report on Monday, October 14th. They issued a “neutral” rating and a $195.00 price objective for the company. Wolfe Research upgraded shares of Diamondback Energy from a “peer perform” rating to an “outperform” rating and set a $190.00 target price on the stock in a research report on Friday, January 3rd. Piper Sandler dropped their price target on Diamondback Energy from $252.00 to $232.00 and set an “overweight” rating on the stock in a research note on Tuesday, December 17th. Raymond James raised their price objective on shares of Diamondback Energy from $237.00 to $256.00 and gave the company a “strong-buy” rating in a research note on Thursday, January 23rd. Finally, Royal Bank of Canada restated an “outperform” rating and issued a $210.00 target price on shares of Diamondback Energy in a report on Thursday, January 23rd. Four research analysts have rated the stock with a hold rating, eighteen have issued a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $215.00.

Diamondback Energy Stock Down 0.3 %

Shares of NASDAQ FANG opened at $170.41 on Friday. The business has a 50-day simple moving average of $169.65 and a two-hundred day simple moving average of $181.40. The company has a quick ratio of 0.42, a current ratio of 0.45 and a debt-to-equity ratio of 0.31. Diamondback Energy, Inc. has a 52 week low of $147.93 and a 52 week high of $214.50. The company has a market cap of $49.76 billion, a P/E ratio of 9.75, a P/E/G ratio of 1.44 and a beta of 1.88.

Diamondback Energy (NASDAQ:FANG) last posted its quarterly earnings data on Monday, November 4th. The oil and natural gas company reported $3.38 earnings per share (EPS) for the quarter, missing the consensus estimate of $4.62 by ($1.24). The business had revenue of $2.65 billion for the quarter, compared to the consensus estimate of $2.43 billion. Diamondback Energy had a net margin of 33.64% and a return on equity of 13.68%. Diamondback Energy’s quarterly revenue was up 13.0% on a year-over-year basis. During the same period in the prior year, the business posted $5.49 EPS. Research analysts anticipate that Diamondback Energy, Inc. will post 15.58 earnings per share for the current fiscal year.

Diamondback Energy Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, November 21st. Shareholders of record on Thursday, November 14th were given a dividend of $0.90 per share. The ex-dividend date was Thursday, November 14th. This represents a $3.60 dividend on an annualized basis and a yield of 2.11%. Diamondback Energy’s payout ratio is 20.61%.

Insider Buying and Selling

In other news, Director Mark Lawrence Plaumann sold 1,150 shares of the stock in a transaction that occurred on Wednesday, November 13th. The stock was sold at an average price of $181.00, for a total transaction of $208,150.00. Following the completion of the sale, the director now owns 4,712 shares of the company’s stock, valued at approximately $852,872. This represents a 19.62 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.48% of the stock is currently owned by corporate 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.