Opinicus Capital Inc. Invests $262,000 in Diamondback Energy, Inc. (NASDAQ:FANG)

Opinicus Capital Inc. purchased a new stake in shares of Diamondback Energy, Inc. (NASDAQ:FANG) during the fourth quarter, HoldingsChannel reports. The institutional investor purchased 1,598 shares of the oil and natural gas company’s stock, valued at approximately $262,000.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Czech National Bank lifted its stake in Diamondback Energy by 12.3% during the 3rd quarter. Czech National Bank now owns 38,166 shares of the oil and natural gas company’s stock valued at $6,580,000 after acquiring an additional 4,180 shares during the period. Hexagon Capital Partners LLC lifted its position in Diamondback Energy by 29.5% during the third quarter. Hexagon Capital Partners LLC now owns 649 shares of the oil and natural gas company’s stock valued at $112,000 after purchasing an additional 148 shares during the period. Wedmont Private Capital boosted its holdings in Diamondback Energy by 2.9% in the third quarter. Wedmont Private Capital now owns 3,300 shares of the oil and natural gas company’s stock worth $569,000 after purchasing an additional 94 shares during the last quarter. Independence Bank of Kentucky grew its position in Diamondback Energy by 43.9% in the 3rd quarter. Independence Bank of Kentucky now owns 3,705 shares of the oil and natural gas company’s stock worth $639,000 after purchasing an additional 1,130 shares during the period. Finally, Livforsakringsbolaget Skandia Omsesidigt raised its stake in Diamondback Energy by 40.9% during the 3rd quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 6,200 shares of the oil and natural gas company’s stock valued at $1,068,000 after buying an additional 1,800 shares during the last quarter. Institutional investors own 90.01% of the company’s stock.

Diamondback Energy Stock Performance

Shares of NASDAQ FANG opened at $158.13 on Friday. The firm’s fifty day moving average is $167.93 and its two-hundred day moving average is $179.75. Diamondback Energy, Inc. has a 52-week low of $151.25 and a 52-week high of $214.50. The company has a market cap of $46.17 billion, a P/E ratio of 9.05, a P/E/G ratio of 1.28 and a beta of 1.86. The company has a debt-to-equity ratio of 0.31, a quick ratio of 0.42 and a current ratio of 0.45.

Diamondback Energy Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, November 21st. Investors of record on Thursday, November 14th were given a $0.90 dividend. The ex-dividend date of this dividend was Thursday, November 14th. This represents a $3.60 dividend on an annualized basis and a dividend yield of 2.28%. Diamondback Energy’s dividend payout ratio is currently 20.61%.

Analysts Set New Price Targets

FANG has been the topic of a number of research reports. Wells Fargo & Company raised their price target on Diamondback Energy from $218.00 to $219.00 and gave the stock an “overweight” rating in a research note on Tuesday, December 17th. Raymond James raised their target price on Diamondback Energy from $237.00 to $256.00 and gave the stock a “strong-buy” rating in a research report on Thursday, January 23rd. UBS Group reduced their price target on shares of Diamondback Energy from $235.00 to $212.00 and set a “buy” rating for the company in a research report on Monday, December 9th. Citigroup initiated coverage on shares of Diamondback Energy in a report on Monday, October 14th. They issued a “neutral” rating and a $195.00 price objective on the stock. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and set a $210.00 target price on shares of Diamondback Energy in a report on Thursday, January 23rd. Four research analysts have rated the stock with a hold rating, eighteen have given a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $215.00.

Insider Activity at Diamondback Energy

In related news, Director Mark Lawrence Plaumann sold 1,150 shares of the company’s stock in a transaction on Wednesday, November 13th. The shares were sold at an average price of $181.00, for a total transaction of $208,150.00. Following the sale, the director now owns 4,712 shares of the company’s stock, valued at $852,872. This represents a 19.62 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.48% of the stock is owned by corporate insiders.

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.