Diamondback Energy, Inc. (NASDAQ:FANG) Shares Bought by Corebridge Financial Inc.

Corebridge Financial Inc. grew its holdings in Diamondback Energy, Inc. (NASDAQ:FANG) by 20.4% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 71,507 shares of the oil and natural gas company’s stock after purchasing an additional 12,100 shares during the period. Corebridge Financial Inc.’s holdings in Diamondback Energy were worth $11,715,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also modified their holdings of the business. Lakewood Asset Management LLC lifted its position in Diamondback Energy by 0.5% in the fourth quarter. Lakewood Asset Management LLC now owns 11,340 shares of the oil and natural gas company’s stock valued at $1,858,000 after buying an additional 60 shares during the last quarter. Magnolia Capital Advisors LLC raised its stake in shares of Diamondback Energy by 2.0% in the 4th quarter. Magnolia Capital Advisors LLC now owns 3,247 shares of the oil and natural gas company’s stock valued at $532,000 after acquiring an additional 64 shares during the period. Barden Capital Management Inc. lifted its holdings in shares of Diamondback Energy by 1.5% in the 4th quarter. Barden Capital Management Inc. now owns 4,380 shares of the oil and natural gas company’s stock worth $718,000 after acquiring an additional 64 shares during the last quarter. Greenleaf Trust increased its holdings in Diamondback Energy by 1.0% in the 4th quarter. Greenleaf Trust now owns 6,892 shares of the oil and natural gas company’s stock valued at $1,129,000 after purchasing an additional 66 shares during the last quarter. Finally, Buckhead Capital Management LLC raised its position in Diamondback Energy by 0.3% in the fourth quarter. Buckhead Capital Management LLC now owns 19,830 shares of the oil and natural gas company’s stock valued at $3,249,000 after purchasing an additional 67 shares during the period. 90.01% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Diamondback Energy

In other Diamondback Energy news, Director Frank D. Tsuru bought 2,000 shares of the business’s stock in a transaction dated Friday, February 28th. The shares were acquired at an average cost of $156.51 per share, with a total value of $313,020.00. Following the acquisition, the director now directly owns 5,730 shares of the company’s stock, valued at $896,802.30. The trade was a 53.62 % increase in their position. The purchase was disclosed in a legal filing with the SEC, which is accessible through this link. 0.48% of the stock is owned by company insiders.

Diamondback Energy Trading Up 0.4 %

Shares of Diamondback Energy stock opened at $161.60 on Wednesday. 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 company has a fifty day simple moving average of $159.82 and a 200-day simple moving average of $170.00. The stock has a market cap of $46.77 billion, a price-to-earnings ratio of 9.25, a PEG ratio of 1.24 and a beta of 1.85. Diamondback Energy, Inc. has a 12-month low of $137.09 and a 12-month high of $214.50.

Diamondback Energy (NASDAQ:FANG) last released its quarterly earnings data on Tuesday, February 25th. The oil and natural gas company reported $3.64 earnings per share (EPS) for the quarter, beating 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 during the quarter, compared to the consensus estimate of $3.55 billion. On average, equities analysts forecast that Diamondback Energy, Inc. will post 15.49 EPS for the current fiscal year.

Diamondback Energy Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, March 13th. Shareholders of record on Thursday, March 6th were given a dividend of $1.00 per share. This is a positive change from Diamondback Energy’s previous quarterly dividend of $0.90. The ex-dividend date was Thursday, March 6th. This represents a $4.00 annualized dividend and a yield of 2.48%. Diamondback Energy’s payout ratio is 25.32%.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on FANG. The Goldman Sachs Group started coverage on Diamondback Energy in a research note on Monday, December 2nd. They issued a “buy” rating and a $227.00 price objective for the company. Wolfe Research upgraded shares of Diamondback Energy from a “peer perform” rating to an “outperform” rating and set a $190.00 price target on the stock in a research note on Friday, January 3rd. Barclays reduced their price target on shares of Diamondback Energy from $210.00 to $200.00 and set an “overweight” rating on the stock in a research report on Tuesday, March 18th. UBS Group increased their target price on shares of Diamondback Energy from $212.00 to $216.00 and gave the stock a “buy” rating in a report on Thursday, February 13th. Finally, Royal Bank of Canada restated an “outperform” rating and issued a $210.00 price target on shares of Diamondback Energy in a research note on Thursday, January 23rd. Four analysts have rated the stock with a hold rating, eighteen have given a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $209.92.

Diamondback Energy Company 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.