Elo Mutual Pension Insurance Co Buys 3,706 Shares of Diamondback Energy, Inc. (NASDAQ:FANG)

Elo Mutual Pension Insurance Co boosted its stake in Diamondback Energy, Inc. (NASDAQ:FANG) by 23.5% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 19,447 shares of the oil and natural gas company’s stock after purchasing an additional 3,706 shares during the quarter. Elo Mutual Pension Insurance Co’s holdings in Diamondback Energy were worth $3,186,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of FANG. Wintrust Investments LLC acquired a new stake in shares of Diamondback Energy in the 4th quarter valued at about $28,000. R Squared Ltd bought a new stake in shares of Diamondback Energy during the fourth quarter valued at approximately $29,000. UMB Bank n.a. raised its position in shares of 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 period. Key Financial Inc lifted its holdings in shares of Diamondback Energy by 940.0% in the 4th quarter. Key Financial Inc now owns 208 shares of the oil and natural gas company’s stock worth $34,000 after purchasing an additional 188 shares in the last quarter. Finally, Rakuten Securities Inc. grew its position in 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 during the period. 90.01% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other news, Director Frank D. Tsuru purchased 2,000 shares of the firm’s stock in a transaction dated 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 acquisition, the director now owns 5,730 shares in the company, valued at $896,802.30. This trade represents a 53.62 % increase in their position. The acquisition was disclosed in a filing with the SEC, which is available through this hyperlink. Corporate insiders own 0.48% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on FANG shares. The Goldman Sachs Group initiated coverage on shares of Diamondback Energy in a report on Monday, December 2nd. They set a “buy” rating and a $227.00 price objective on the stock. Wells Fargo & Company dropped their price target on shares of Diamondback Energy from $219.00 to $215.00 and set an “overweight” rating on the stock in a research report on Wednesday, March 12th. UBS Group boosted their price objective on Diamondback Energy from $212.00 to $216.00 and gave the stock a “buy” rating in a report on Thursday, February 13th. 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. Finally, Truist Financial upped their price target on Diamondback Energy from $236.00 to $238.00 and gave the stock a “buy” rating in a report on Wednesday, February 19th. 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 data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $209.33.

Diamondback Energy Stock Down 1.7 %

Diamondback Energy stock opened at $157.54 on Friday. The firm has a market capitalization of $45.60 billion, a price-to-earnings ratio of 9.02, a P/E/G ratio of 1.24 and a beta of 1.85. The firm has a 50 day simple moving average of $158.66 and a 200 day simple moving average of $169.73. Diamondback Energy, Inc. has a 1-year low of $137.09 and a 1-year high of $214.50. 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 issued its quarterly earnings data on Tuesday, February 25th. The oil and natural gas company reported $3.64 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.57 by $0.07. The business had revenue of $3.71 billion for the quarter, compared to analysts’ expectations of $3.55 billion. Diamondback Energy had a return on equity of 13.68% and a net margin of 33.64%. On average, 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 disclosed a quarterly dividend, which was paid on Thursday, March 13th. Investors 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 represents a $4.00 annualized dividend and a yield of 2.54%. This is a boost from Diamondback Energy’s previous quarterly dividend of $0.90. Diamondback Energy’s payout ratio is currently 25.32%.

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.