E Fund Management Co. Ltd. Sells 1,131 Shares of Diamondback Energy, Inc. (NASDAQ:FANG)

E Fund Management Co. Ltd. trimmed its stake in Diamondback Energy, Inc. (NASDAQ:FANG) by 22.2% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 3,964 shares of the oil and natural gas company’s stock after selling 1,131 shares during the period. E Fund Management Co. Ltd.’s holdings in Diamondback Energy were worth $649,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of the stock. Candriam S.C.A. grew its position in Diamondback Energy by 27.4% during the fourth quarter. Candriam S.C.A. now owns 21,040 shares of the oil and natural gas company’s stock valued at $3,447,000 after acquiring an additional 4,529 shares during the last quarter. Raymond James Financial Inc. purchased a new stake in Diamondback Energy in the fourth quarter worth $298,327,000. Dana Investment Advisors Inc. lifted its stake in Diamondback Energy by 5.1% in the fourth quarter. Dana Investment Advisors Inc. now owns 146,418 shares of the oil and natural gas company’s stock worth $23,988,000 after acquiring an additional 7,123 shares during the period. Arizona State Retirement System lifted its stake in Diamondback Energy by 14.9% in the fourth quarter. Arizona State Retirement System now owns 53,925 shares of the oil and natural gas company’s stock worth $8,835,000 after acquiring an additional 7,004 shares during the period. Finally, Proficio Capital Partners LLC purchased a new position in Diamondback Energy during the fourth quarter valued at $210,000. 90.01% of the stock is currently owned by institutional investors.

Diamondback Energy Stock Performance

NASDAQ FANG opened at $140.11 on Friday. The company has a market cap of $40.55 billion, a P/E ratio of 8.02, a P/E/G ratio of 1.24 and a beta of 1.85. 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 business’s 50 day moving average price is $163.97 and its 200-day moving average price is $173.50. Diamondback Energy, Inc. has a fifty-two week low of $138.94 and a fifty-two week high of $214.50.

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

Diamondback Energy Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, March 13th. Shareholders of record on Thursday, March 6th will be issued a $1.00 dividend. This represents a $4.00 annualized dividend and a dividend yield of 2.85%. This is a boost from Diamondback Energy’s previous quarterly dividend of $0.90. The ex-dividend date of this dividend is Thursday, March 6th. Diamondback Energy’s dividend payout ratio is currently 25.32%.

Analyst Upgrades and Downgrades

FANG has been the subject of several recent research reports. Mizuho raised their price objective on Diamondback Energy from $201.00 to $204.00 and gave the company an “outperform” rating in a research report on Tuesday, February 25th. Raymond James lifted their price objective on Diamondback Energy from $237.00 to $256.00 and gave the stock a “strong-buy” rating in a report on Thursday, January 23rd. StockNews.com raised Diamondback Energy from a “sell” rating to a “hold” rating in a research report on Wednesday, November 13th. The Goldman Sachs Group assumed coverage on Diamondback Energy in a research report on Monday, December 2nd. They issued a “buy” rating and a $227.00 target price on the stock. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and set a $210.00 price objective on shares of Diamondback Energy in a research report on Thursday, January 23rd. Four investment 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 company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $216.09.

Insiders Place Their Bets

In related news, Director Frank D. Tsuru acquired 2,000 shares of the firm’s stock in a transaction that occurred on Friday, February 28th. The stock was purchased at an average cost of $156.51 per share, for a total transaction of $313,020.00. Following the purchase, the director now directly owns 5,730 shares of the company’s stock, valued at $896,802.30. This trade represents a 53.62 % increase in their position. The acquisition was disclosed in a document filed with the SEC, which can be accessed through this link. Company insiders own 0.48% of the company’s stock.

Diamondback Energy Company 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.