EULAV Asset Management Boosts Holdings in Diamondback Energy, Inc. (NASDAQ:FANG)

EULAV Asset Management increased its position in Diamondback Energy, Inc. (NASDAQ:FANG) by 11.8% in the 4th quarter, Holdings Channel.com reports. The firm owned 57,000 shares of the oil and natural gas company’s stock after buying an additional 6,000 shares during the quarter. EULAV Asset Management’s holdings in Diamondback Energy were worth $9,338,000 as of its most recent SEC filing.

Other large investors have also added to or reduced their stakes in the company. Assenagon Asset Management S.A. grew its stake in shares of Diamondback Energy by 1,153.0% during the fourth quarter. Assenagon Asset Management S.A. now owns 1,132,918 shares of the oil and natural gas company’s stock valued at $185,606,000 after acquiring an additional 1,042,505 shares in the last quarter. Zimmer Partners LP purchased a new position in Diamondback Energy in the third quarter valued at about $87,924,000. Holocene Advisors LP grew its stake in Diamondback Energy by 95.3% during the 3rd quarter. Holocene Advisors LP now owns 938,474 shares of the oil and natural gas company’s stock valued at $161,793,000 after purchasing an additional 457,896 shares in the last quarter. Diamond Hill Capital Management Inc. increased its holdings in Diamondback Energy by 25.6% during the 3rd quarter. Diamond Hill Capital Management Inc. now owns 2,158,910 shares of the oil and natural gas company’s stock worth $372,196,000 after purchasing an additional 439,579 shares during the last quarter. Finally, International Assets Investment Management LLC raised its position in shares of Diamondback Energy by 17,151.2% in the 3rd quarter. International Assets Investment Management LLC now owns 340,021 shares of the oil and natural gas company’s stock valued at $58,620,000 after purchasing an additional 338,050 shares in the last quarter. 90.01% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on the stock. Piper Sandler dropped their price target on shares of Diamondback Energy from $252.00 to $232.00 and set an “overweight” rating for the company in a research note on Tuesday, December 17th. Wolfe Research raised shares of Diamondback Energy from a “peer perform” rating to an “outperform” rating and set a $190.00 target price for the company in a research report on Friday, January 3rd. Susquehanna reduced their price target on shares of Diamondback Energy from $237.00 to $233.00 and set a “positive” rating on the stock in a research report on Friday, October 18th. Benchmark reissued a “buy” rating and issued a $195.00 price objective on shares of Diamondback Energy in a report on Tuesday, October 29th. Finally, The Goldman Sachs Group started coverage on Diamondback Energy in a report on Monday, December 2nd. They set a “buy” rating and a $227.00 target price on the stock. Four research analysts have rated the stock with a hold rating, eighteen have assigned a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $215.00.

Diamondback Energy Stock Performance

FANG opened at $158.13 on Friday. The company has a current ratio of 0.45, a quick ratio of 0.42 and a debt-to-equity ratio of 0.31. The business’s 50 day moving average is $167.93 and its 200-day moving average is $179.75. The stock has a market cap of $46.17 billion, a PE ratio of 9.05, a price-to-earnings-growth ratio of 1.28 and a beta of 1.86. Diamondback Energy, Inc. has a twelve month low of $151.25 and a twelve month high of $214.50.

Diamondback Energy Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, November 21st. Shareholders of record on Thursday, November 14th were given a dividend of $0.90 per share. The ex-dividend date was Thursday, November 14th. This represents a $3.60 dividend on an annualized basis and a yield of 2.28%. Diamondback Energy’s dividend payout ratio (DPR) is presently 20.61%.

Insider Transactions at Diamondback Energy

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

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.