Vestmark Advisory Solutions Inc. boosted its holdings in Diamondback Energy, Inc. (NASDAQ:FANG – Get Rating) by 5.1% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 15,912 shares of the oil and natural gas company’s stock after buying an additional 767 shares during the quarter. Vestmark Advisory Solutions Inc.’s holdings in Diamondback Energy were worth $2,176,000 at the end of the most recent quarter.
Other large investors have also recently bought and sold shares of the company. Yacktman Asset Management LP acquired a new position in Diamondback Energy in the third quarter valued at $152,022,000. Pacer Advisors Inc. increased its holdings in shares of Diamondback Energy by 33,853.6% in the third quarter. Pacer Advisors Inc. now owns 787,383 shares of the oil and natural gas company’s stock valued at $94,848,000 after purchasing an additional 785,064 shares during the period. State Street Corp boosted its stake in shares of Diamondback Energy by 7.0% in the third quarter. State Street Corp now owns 11,524,297 shares of the oil and natural gas company’s stock valued at $1,388,217,000 after buying an additional 755,625 shares in the last quarter. Ninepoint Partners LP boosted its stake in shares of Diamondback Energy by 636.7% in the third quarter. Ninepoint Partners LP now owns 725,000 shares of the oil and natural gas company’s stock valued at $87,334,000 after buying an additional 626,594 shares in the last quarter. Finally, Vanguard Group Inc. boosted its position in Diamondback Energy by 2.8% during the third quarter. Vanguard Group Inc. now owns 21,771,852 shares of the oil and natural gas company’s stock worth $2,622,637,000 after purchasing an additional 584,025 shares in the last quarter. Hedge funds and other institutional investors own 89.76% of the company’s stock.
Diamondback Energy Trading Up 1.4 %
FANG stock opened at $135.17 on Friday. Diamondback Energy, Inc. has a 1-year low of $103.71 and a 1-year high of $168.95. The firm has a market cap of $24.82 billion, a P/E ratio of 5.49, a P/E/G ratio of 0.29 and a beta of 2.03. The business’s 50 day moving average is $138.78 and its 200-day moving average is $141.03. The company has a current ratio of 0.81, a quick ratio of 0.77 and a debt-to-equity ratio of 0.40.
Diamondback Energy Cuts Dividend
The firm also recently declared a quarterly dividend, which was paid on Friday, March 10th. Investors of record on Friday, March 3rd were given a dividend of $2.95 per share. The ex-dividend date of this dividend was Thursday, March 2nd. This represents a $11.80 dividend on an annualized basis and a yield of 8.73%. Diamondback Energy’s dividend payout ratio (DPR) is presently 12.99%.
Analyst Ratings Changes
FANG has been the subject of several analyst reports. Barclays upped their target price on Diamondback Energy from $166.00 to $182.00 in a research note on Thursday, March 16th. Raymond James reduced their target price on Diamondback Energy from $205.00 to $165.00 in a report on Monday, March 27th. Royal Bank of Canada reiterated an “outperform” rating and set a $182.00 price target on shares of Diamondback Energy in a research report on Wednesday, March 8th. Wells Fargo & Company dropped their price objective on Diamondback Energy from $181.00 to $174.00 and set an “overweight” rating on the stock in a research note on Wednesday, March 1st. Finally, Mizuho decreased their target price on Diamondback Energy from $195.00 to $177.00 in a report on Friday, March 10th. One research analyst has rated the stock with a sell rating, two have given a hold rating, eighteen have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, Diamondback Energy presently has an average rating of “Moderate Buy” and an average target price of $178.00.
About Diamondback Energy
Diamondback Energy, Inc is an independent oil and natural gas company, which engages in the acquisition, development, exploration, and exploitation of unconventional, onshore oil, and natural gas reserves. It operates through the Upstream and Midstream Services segments. The Upstream segment focuses on the Permian Basin operations in West Texas.
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