Ossiam Grows Position in Diamondback Energy, Inc. (NASDAQ:FANG)

Ossiam grew its holdings in Diamondback Energy, Inc. (NASDAQ:FANG) by 96.6% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 4,669 shares of the oil and natural gas company’s stock after purchasing an additional 2,294 shares during the period. Ossiam’s holdings in Diamondback Energy were worth $765,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in the stock. Wintrust Investments LLC bought a new stake in shares of Diamondback Energy during the 4th quarter valued at $28,000. R Squared Ltd bought a new stake in shares of Diamondback Energy during the fourth quarter valued at about $29,000. UMB Bank n.a. lifted its holdings in shares of Diamondback Energy by 247.3% in the fourth quarter. UMB Bank n.a. now owns 191 shares of the oil and natural gas company’s stock worth $31,000 after buying an additional 136 shares in the last quarter. Key Financial Inc boosted its position in shares of Diamondback Energy by 940.0% in the fourth quarter. Key Financial Inc now owns 208 shares of the oil and natural gas company’s stock valued at $34,000 after acquiring an additional 188 shares during the period. Finally, Rakuten Securities Inc. increased its holdings in Diamondback Energy by 62.4% during the 4th quarter. Rakuten Securities Inc. now owns 276 shares of the oil and natural gas company’s stock worth $45,000 after acquiring an additional 106 shares during the period. Hedge funds and other institutional investors own 90.01% of the company’s stock.

Diamondback Energy Price Performance

Shares of NASDAQ FANG opened at $132.35 on Tuesday. Diamondback Energy, Inc. has a 1 year low of $114.00 and a 1 year high of $214.50. The stock has a market capitalization of $38.92 billion, a P/E ratio of 7.58, a P/E/G ratio of 1.24 and a beta of 1.44. The company’s 50-day moving average is $146.67 and its 200 day moving average is $164.21. The company has a debt-to-equity ratio of 0.31, a current ratio of 0.45 and a quick ratio of 0.42.

Diamondback Energy (NASDAQ:FANG) last announced its 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 firm had revenue of $3.71 billion during the quarter, compared to analyst estimates of $3.55 billion. Diamondback Energy had a return on equity of 13.68% and a net margin of 33.64%. On average, sell-side analysts expect 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. Shareholders of record on Thursday, March 6th were given a dividend of $1.00 per share. The ex-dividend date was Thursday, March 6th. This represents a $4.00 annualized dividend and a yield of 3.02%. This is a positive change from Diamondback Energy’s previous quarterly dividend of $0.90. Diamondback Energy’s dividend payout ratio (DPR) is currently 25.32%.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on FANG shares. Mizuho lifted their price objective on Diamondback Energy from $201.00 to $204.00 and gave the company an “outperform” rating in a research note on Tuesday, February 25th. Barclays cut their price objective on Diamondback Energy from $210.00 to $200.00 and set an “overweight” rating for the company in a report on Tuesday, March 18th. Citigroup upgraded shares of Diamondback Energy from a “reduce” rating to a “buy” rating and lifted their target price for the company from $157.00 to $180.00 in a research report on Monday, April 7th. UBS Group decreased their price target on shares of Diamondback Energy from $175.00 to $163.00 and set a “buy” rating on the stock in a report on Thursday, April 17th. Finally, Wells Fargo & Company cut their target price on shares of Diamondback Energy from $215.00 to $207.00 and set an “overweight” rating for the company in a research report on Monday. Three research analysts have rated the stock with a hold rating, nineteen have assigned a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $204.29.

Insider Activity

In other Diamondback Energy news, Director Frank D. Tsuru acquired 2,000 shares of the business’s stock in a transaction on Friday, February 28th. The shares were acquired 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 $896,802.30. This trade represents a 53.62 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company 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.