Yacktman Asset Management LP Has $227.47 Million Stock Holdings in Diamondback Energy, Inc. (NASDAQ:FANG)

Yacktman Asset Management LP grew its stake in shares of Diamondback Energy, Inc. (NASDAQ:FANG) by 9.3% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 1,388,434 shares of the oil and natural gas company’s stock after purchasing an additional 118,603 shares during the quarter. Diamondback Energy comprises about 2.7% of Yacktman Asset Management LP’s portfolio, making the stock its 14th biggest holding. Yacktman Asset Management LP’s holdings in Diamondback Energy were worth $227,467,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds also recently made changes to their positions in the stock. State Street Corp increased its holdings in Diamondback Energy by 1.3% during the third quarter. State Street Corp now owns 11,858,555 shares of the oil and natural gas company’s stock worth $2,044,415,000 after buying an additional 149,871 shares during the last quarter. Geode Capital Management LLC grew its position in shares of Diamondback Energy by 6.1% in the 3rd quarter. Geode Capital Management LLC now owns 4,618,560 shares of the oil and natural gas company’s stock valued at $793,611,000 after acquiring an additional 266,299 shares during the period. Pacer Advisors Inc. increased its stake in shares of Diamondback Energy by 9.3% during the 3rd quarter. Pacer Advisors Inc. now owns 2,704,520 shares of the oil and natural gas company’s stock worth $466,259,000 after purchasing an additional 230,689 shares during the last quarter. Diamond Hill Capital Management Inc. raised its holdings in shares of Diamondback Energy by 25.6% in the 3rd quarter. Diamond Hill Capital Management Inc. now owns 2,158,910 shares of the oil and natural gas company’s stock valued at $372,196,000 after purchasing an additional 439,579 shares during the period. Finally, Raymond James & Associates raised its holdings in shares of Diamondback Energy by 4.2% in the 3rd quarter. Raymond James & Associates now owns 1,135,230 shares of the oil and natural gas company’s stock valued at $195,714,000 after purchasing an additional 46,109 shares during the period. Institutional investors own 90.01% of the company’s stock.

Insider Buying and Selling at Diamondback Energy

In related news, Director Mark Lawrence Plaumann sold 1,150 shares of the firm’s stock in a transaction dated Wednesday, November 13th. The stock was sold at an average price of $181.00, for a total value of $208,150.00. Following the sale, the director now directly owns 4,712 shares of the company’s stock, valued at $852,872. This trade represents a 19.62 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Company insiders own 0.48% of the company’s stock.

Diamondback Energy Stock Up 2.2 %

FANG stock opened at $161.66 on Tuesday. Diamondback Energy, Inc. has a 52 week low of $152.00 and a 52 week high of $214.50. The business has a 50-day simple moving average of $167.54 and a 200 day simple moving average of $179.16. The company has a quick ratio of 0.42, a current ratio of 0.45 and a debt-to-equity ratio of 0.31. The company has a market cap of $47.20 billion, a PE ratio of 9.25, a price-to-earnings-growth ratio of 1.24 and a beta of 1.86.

Diamondback Energy Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, November 21st. Shareholders of record on Thursday, November 14th were paid a dividend of $0.90 per share. This represents a $3.60 annualized dividend and a yield of 2.23%. The ex-dividend date was Thursday, November 14th. Diamondback Energy’s payout ratio is presently 20.61%.

Analyst Ratings Changes

A number of equities analysts have weighed in on FANG shares. Truist Financial boosted their price target on Diamondback Energy from $230.00 to $236.00 and gave the stock a “buy” rating in a research report on Monday, January 13th. Raymond James boosted their target price on Diamondback Energy from $237.00 to $256.00 and gave the stock a “strong-buy” rating in a report on Thursday, January 23rd. Benchmark restated a “buy” rating and issued a $195.00 price target on shares of Diamondback Energy in a research note on Tuesday, October 29th. JPMorgan Chase & Co. lifted their price objective on shares of Diamondback Energy from $191.00 to $195.00 and gave the stock an “overweight” rating in a research report on Friday, January 17th. Finally, Citigroup assumed coverage on shares of Diamondback Energy in a research report on Monday, October 14th. They issued a “neutral” rating and a $195.00 price objective on the stock. 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. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $215.00.

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.