Royal London Asset Management Ltd. Buys 9,113 Shares of Diamondback Energy, Inc. (NASDAQ:FANG)

Royal London Asset Management Ltd. lifted its stake in Diamondback Energy, Inc. (NASDAQ:FANG) by 8.5% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 116,064 shares of the oil and natural gas company’s stock after purchasing an additional 9,113 shares during the period. Royal London Asset Management Ltd.’s holdings in Diamondback Energy were worth $19,015,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in the stock. State Street Corp grew its holdings in shares of Diamondback Energy by 1.3% in the third quarter. State Street Corp now owns 11,858,555 shares of the oil and natural gas company’s stock worth $2,044,415,000 after purchasing an additional 149,871 shares during the last quarter. Boston Partners grew its holdings in shares of Diamondback Energy by 12.4% in the fourth 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 during the last quarter. Geode Capital Management LLC lifted its stake in Diamondback Energy by 6.1% in the third quarter. Geode Capital Management LLC now owns 4,618,560 shares of the oil and natural gas company’s stock worth $793,611,000 after acquiring an additional 266,299 shares during the period. Bank of New York Mellon Corp lifted its stake in Diamondback Energy by 13.7% in the fourth 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 acquiring an additional 502,916 shares during the period. Finally, Diamond Hill Capital Management Inc. lifted its stake in Diamondback Energy by 30.5% in the fourth quarter. Diamond Hill Capital Management Inc. now owns 2,817,554 shares of the oil and natural gas company’s stock worth $461,600,000 after acquiring an additional 658,644 shares during the period. 90.01% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other Diamondback Energy news, Director Frank D. Tsuru purchased 2,000 shares of the business’s stock in a transaction that occurred on Friday, February 28th. The shares were bought at an average price of $156.51 per share, for a total transaction of $313,020.00. Following the acquisition, the director now owns 5,730 shares in the company, valued at $896,802.30. This represents a 53.62 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is accessible through the SEC website. 0.48% of the stock is owned by corporate insiders.

Diamondback Energy Stock Performance

Shares of Diamondback Energy stock opened at $158.50 on Friday. The firm has a market capitalization of $45.88 billion, a P/E ratio of 9.07, a PEG ratio of 1.24 and a beta of 1.85. The company has a quick ratio of 0.42, a current ratio of 0.45 and a debt-to-equity ratio of 0.31. The company has a 50 day moving average price of $160.47 and a 200 day moving average price of $170.51. Diamondback Energy, Inc. has a 52 week low of $137.09 and a 52 week high of $214.50.

Diamondback Energy (NASDAQ:FANG) last issued its quarterly earnings results on Tuesday, February 25th. The oil and natural gas company reported $3.64 earnings per share for the quarter, topping the consensus estimate of $3.57 by $0.07. Diamondback Energy had a net margin of 33.64% and a return on equity of 13.68%. The company had revenue of $3.71 billion for the quarter, compared to the consensus estimate of $3.55 billion. Sell-side analysts expect that Diamondback Energy, Inc. will post 15.49 EPS for the current year.

Diamondback Energy Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, March 13th. Investors of record on Thursday, March 6th were issued a $1.00 dividend. This represents a $4.00 annualized dividend and a yield of 2.52%. The ex-dividend date was Thursday, March 6th. This is an increase from Diamondback Energy’s previous quarterly dividend of $0.90. Diamondback Energy’s dividend payout ratio is 25.32%.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on FANG. Wolfe Research raised shares of Diamondback Energy from a “peer perform” rating to an “outperform” rating and set a $190.00 price objective for the company in a research note on Friday, January 3rd. The Goldman Sachs Group began coverage on shares of Diamondback Energy in a research note on Monday, December 2nd. They issued a “buy” rating and a $227.00 price objective for the company. Williams Trading set a $190.00 price objective on shares of Diamondback Energy in a research note on Wednesday, March 5th. Truist Financial upped their price objective on shares of Diamondback Energy from $236.00 to $238.00 and gave the stock a “buy” rating in a research note on Wednesday, February 19th. Finally, JPMorgan Chase & Co. lowered their price objective on shares of Diamondback Energy from $212.00 to $167.00 and set an “overweight” rating for the company in a research note on Thursday, March 13th. Four research analysts have rated the stock with a hold rating, eighteen have given a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $209.92.

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.