1,371 Shares in Diamondback Energy, Inc. (NASDAQ:FANG) Purchased by Allianz SE

Allianz SE purchased a new stake in Diamondback Energy, Inc. (NASDAQ:FANG) in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 1,371 shares of the oil and natural gas company’s stock, valued at approximately $221,000.

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

Analysts Set New Price Targets

Several analysts have issued reports on the company. JPMorgan Chase & Co. dropped their price objective on Diamondback Energy from $212.00 to $167.00 and set an “overweight” rating on the stock in a research note on Thursday, March 13th. Williams Trading set a $190.00 price target on Diamondback Energy in a report on Wednesday, March 5th. The Goldman Sachs Group began coverage on shares of Diamondback Energy in a report on Monday, December 2nd. They set a “buy” rating and a $227.00 target price for the company. Wolfe Research raised Diamondback Energy from a “peer perform” rating to an “outperform” rating and set a $190.00 price objective on the stock in a report on Friday, January 3rd. Finally, Mizuho increased their target price on shares of Diamondback Energy from $201.00 to $204.00 and gave the stock an “outperform” rating in a research report on Tuesday, February 25th. Four analysts have rated the stock with a hold rating, eighteen have given 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 an average price target of $209.33.

Diamondback Energy Stock Up 1.5 %

Shares of NASDAQ:FANG opened at $159.88 on Tuesday. Diamondback Energy, Inc. has a 52-week low of $137.09 and a 52-week high of $214.50. The company has a market capitalization of $46.28 billion, a PE ratio of 9.15, 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 quick ratio of 0.42 and a current ratio of 0.45. The company has a fifty day moving average of $158.25 and a 200-day moving average of $169.65.

Diamondback Energy (NASDAQ:FANG) last issued its earnings results 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. Diamondback Energy had a return on equity of 13.68% and a net margin of 33.64%. The business had revenue of $3.71 billion during the quarter, compared to analysts’ expectations of $3.55 billion. On average, equities analysts predict that Diamondback Energy, Inc. will post 15.49 EPS for the current fiscal year.

Diamondback Energy Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, March 13th. Investors of record on Thursday, March 6th were given 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 annualized dividend and a yield of 2.50%. Diamondback Energy’s dividend payout ratio (DPR) is currently 25.32%.

Insiders Place Their Bets

In other Diamondback Energy news, Director Frank D. Tsuru purchased 2,000 shares of the business’s stock in a transaction dated Friday, February 28th. The shares were bought at an average price of $156.51 per share, for a total transaction of $313,020.00. Following the completion of the acquisition, the director now owns 5,730 shares in the company, valued at approximately $896,802.30. This trade represents a 53.62 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Insiders own 0.48% of the company’s stock.

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.