PKO Investment Management Joint Stock Co Boosts Stock Holdings in Diamondback Energy, Inc. (NASDAQ:FANG)

PKO Investment Management Joint Stock Co raised its holdings in Diamondback Energy, Inc. (NASDAQ:FANG) by 5.5% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 5,800 shares of the oil and natural gas company’s stock after purchasing an additional 300 shares during the quarter. PKO Investment Management Joint Stock Co’s holdings in Diamondback Energy were worth $927,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently added to or reduced their stakes in the business. Price T Rowe Associates Inc. MD boosted its stake in shares of Diamondback Energy by 11.3% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 9,136,645 shares of the oil and natural gas company’s stock valued at $1,496,859,000 after buying an additional 928,429 shares in the last quarter. Boston Partners boosted its position in shares of Diamondback Energy by 12.4% during the 4th quarter. Boston Partners now owns 5,169,742 shares of the oil and natural gas company’s stock worth $849,202,000 after purchasing an additional 571,820 shares in the last quarter. Geode Capital Management LLC grew its stake in shares of Diamondback Energy by 2.0% during the 4th quarter. Geode Capital Management LLC now owns 4,710,165 shares of the oil and natural gas company’s stock worth $769,706,000 after purchasing an additional 91,605 shares during the period. Bank of New York Mellon Corp grew its stake in shares of Diamondback Energy by 13.7% during the 4th quarter. Bank of New York Mellon Corp now owns 4,163,070 shares of the oil and natural gas company’s stock worth $682,036,000 after purchasing an additional 502,916 shares during the period. Finally, Demars Financial Group LLC increased its holdings in Diamondback Energy by 5.3% in the first quarter. Demars Financial Group LLC now owns 4,102,785 shares of the oil and natural gas company’s stock valued at $655,953,000 after buying an additional 208,200 shares in the last quarter. Hedge funds and other institutional investors own 90.01% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have recently issued reports on FANG shares. Scotiabank cut their price target on Diamondback Energy from $215.00 to $175.00 and set a “sector outperform” rating for the company in a research note on Friday, April 11th. KeyCorp reduced their target price on Diamondback Energy from $216.00 to $180.00 and set an “overweight” rating on the stock in a research report on Monday, April 21st. Raymond James reissued a “strong-buy” rating on shares of Diamondback Energy in a research note on Thursday, May 22nd. Bank of America raised their price objective on Diamondback Energy from $165.00 to $170.00 and gave the stock a “buy” rating in a report on Friday, May 23rd. Finally, Royal Bank of Canada began coverage on shares of Diamondback Energy in a research report on Friday, May 2nd. They set an “outperform” rating and a $180.00 target price for the company. Two research analysts have rated the stock with a hold rating, nineteen have given a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Buy” and an average target price of $193.13.

Diamondback Energy Stock Performance

Diamondback Energy stock opened at $151.03 on Tuesday. The stock has a market cap of $44.13 billion, a P/E ratio of 8.65, a price-to-earnings-growth ratio of 1.24 and a beta of 1.06. The stock has a 50 day moving average of $137.63 and a 200-day moving average of $152.15. 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, Inc. has a 52 week low of $114.00 and a 52 week high of $214.50.

Diamondback Energy (NASDAQ:FANG) last released its earnings results on Monday, May 5th. The oil and natural gas company reported $4.54 EPS for the quarter, topping analysts’ consensus estimates of $3.67 by $0.87. Diamondback Energy had a return on equity of 13.68% and a net margin of 33.64%. The company had revenue of $4.05 billion for the quarter, compared to the consensus estimate of $3.58 billion. During the same quarter last year, the business posted $4.50 EPS. Diamondback Energy’s quarterly revenue was up 81.8% compared to the same quarter last year. On average, analysts expect that Diamondback Energy, Inc. will post 15.49 EPS for the current fiscal year.

Diamondback Energy Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, May 22nd. Stockholders of record on Thursday, May 15th were given a dividend of $1.00 per share. This represents a $4.00 dividend on an annualized basis and a dividend yield of 2.65%. The ex-dividend date was Thursday, May 15th. Diamondback Energy’s payout ratio is 24.46%.

Insider Buying and Selling at Diamondback Energy

In other news, President Hof Matthew Kaes Van’t sold 10,000 shares of the stock in a transaction on Monday, May 12th. The stock was sold at an average price of $142.69, for a total value of $1,426,900.00. Following the completion of the transaction, the president now owns 120,645 shares of the company’s stock, valued at approximately $17,214,835.05. This represents a 7.65% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. 0.70% of the stock is currently owned by company insiders.

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.