Intech Investment Management LLC Reduces Stake in Diamondback Energy, Inc. (NASDAQ:FANG)

Intech Investment Management LLC lessened its holdings in shares of Diamondback Energy, Inc. (NASDAQ:FANG) by 58.1% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 22,029 shares of the oil and natural gas company’s stock after selling 30,559 shares during the period. Intech Investment Management LLC’s holdings in Diamondback Energy were worth $3,609,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. QRG Capital Management Inc. boosted its position in shares of Diamondback Energy by 38.4% during the fourth quarter. QRG Capital Management Inc. now owns 11,675 shares of the oil and natural gas company’s stock valued at $1,913,000 after buying an additional 3,238 shares during the period. Swedbank AB boosted its position in shares of Diamondback Energy by 28.0% during the fourth quarter. Swedbank AB now owns 198,283 shares of the oil and natural gas company’s stock valued at $32,485,000 after buying an additional 43,361 shares during the period. Tokio Marine Asset Management Co. Ltd. boosted its position in shares of Diamondback Energy by 631.1% during the fourth quarter. Tokio Marine Asset Management Co. Ltd. now owns 43,148 shares of the oil and natural gas company’s stock valued at $7,069,000 after buying an additional 37,246 shares during the period. Franklin Resources Inc. boosted its position in shares of Diamondback Energy by 48.5% during the third quarter. Franklin Resources Inc. now owns 146,870 shares of the oil and natural gas company’s stock valued at $28,008,000 after buying an additional 47,951 shares during the period. Finally, Tectonic Advisors LLC boosted its position in shares of Diamondback Energy by 38.2% during the fourth quarter. Tectonic Advisors LLC now owns 31,467 shares of the oil and natural gas company’s stock valued at $5,155,000 after buying an additional 8,704 shares during the period. Hedge funds and other institutional investors own 90.01% of the company’s stock.

Insider Buying and Selling at Diamondback Energy

In other news, Director Frank D. Tsuru acquired 2,000 shares of the firm’s stock in a transaction on Friday, February 28th. The stock was acquired at an average price of $156.51 per share, for a total transaction of $313,020.00. Following the completion of the transaction, the director now owns 5,730 shares in the company, valued at approximately $896,802.30. The trade was a 53.62 % increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 0.48% of the stock is owned by corporate insiders.

Diamondback Energy Price Performance

NASDAQ FANG opened at $157.60 on Thursday. The firm’s fifty day simple moving average is $161.05 and its two-hundred day simple moving average is $170.85. 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, Inc. has a 12-month low of $137.09 and a 12-month high of $214.50. The firm has a market capitalization of $45.62 billion, a P/E ratio of 9.02, a P/E/G ratio of 1.24 and a beta of 1.85.

Diamondback Energy (NASDAQ:FANG) last released its quarterly earnings results on Tuesday, February 25th. The oil and natural gas company reported $3.64 earnings per share (EPS) for the quarter, topping the consensus estimate 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%. Analysts forecast that Diamondback Energy, Inc. will post 15.49 EPS for the current fiscal year.

Diamondback Energy Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, March 13th. Shareholders of record on Thursday, March 6th were issued a $1.00 dividend. This represents a $4.00 annualized dividend and a yield of 2.54%. This is a positive change from Diamondback Energy’s previous quarterly dividend of $0.90. The ex-dividend date was Thursday, March 6th. Diamondback Energy’s dividend payout ratio is presently 25.32%.

Wall Street Analyst Weigh In

Several research analysts have issued reports on FANG shares. Citigroup dropped their target price on Diamondback Energy from $195.00 to $157.00 and set a “neutral” rating for the company in a research report on Monday. Barclays decreased their price target on shares of Diamondback Energy from $210.00 to $200.00 and set an “overweight” rating for the company in a research note on Tuesday. The Goldman Sachs Group assumed coverage on shares of Diamondback Energy in a research note on Monday, December 2nd. They set a “buy” rating and a $227.00 price target for the company. Truist Financial lifted their price target on shares of Diamondback Energy from $236.00 to $238.00 and gave the company a “buy” rating in a research note on Wednesday, February 19th. Finally, UBS Group lifted their price target on shares of Diamondback Energy from $212.00 to $216.00 and gave the company a “buy” rating in a research note on Thursday, February 13th. Four 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. According to MarketBeat.com, Diamondback Energy has a consensus rating of “Moderate Buy” and a consensus price target of $209.92.

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.