Mariner LLC Has $8.72 Million Stock Position in Diamondback Energy, Inc. (NASDAQ:FANG)

Mariner LLC increased its position in shares of Diamondback Energy, Inc. (NASDAQ:FANG) by 8.0% during the 4th quarter, HoldingsChannel reports. The fund owned 53,240 shares of the oil and natural gas company’s stock after purchasing an additional 3,962 shares during the quarter. Mariner LLC’s holdings in Diamondback Energy were worth $8,722,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. Wintrust Investments LLC acquired a new stake in shares of Diamondback Energy during the fourth quarter worth $28,000. R Squared Ltd acquired a new position in shares of Diamondback Energy during the 4th quarter worth about $29,000. UMB Bank n.a. increased its stake in shares of Diamondback Energy by 247.3% in the 4th quarter. UMB Bank n.a. now owns 191 shares of the oil and natural gas company’s stock valued at $31,000 after acquiring an additional 136 shares during the last quarter. Key Financial Inc raised its position in shares of Diamondback Energy by 940.0% in the 4th quarter. Key Financial Inc now owns 208 shares of the oil and natural gas company’s stock valued at $34,000 after acquiring an additional 188 shares during the period. Finally, Rakuten Securities Inc. boosted its stake in Diamondback Energy by 62.4% during the 4th quarter. Rakuten Securities Inc. now owns 276 shares of the oil and natural gas company’s stock worth $45,000 after acquiring an additional 106 shares during the last quarter. Institutional investors own 90.01% of the company’s stock.

Insider Buying and Selling

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

Diamondback Energy Price Performance

NASDAQ:FANG opened at $137.64 on Friday. The stock has a market capitalization of $40.48 billion, a PE ratio of 7.88, a P/E/G ratio of 1.24 and a beta of 1.44. Diamondback Energy, Inc. has a 1-year low of $114.00 and a 1-year high of $214.50. The firm has a fifty day simple moving average of $147.14 and a 200 day simple moving average of $164.93. 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 (NASDAQ:FANG) last announced its quarterly earnings data on Tuesday, February 25th. The oil and natural gas company reported $3.64 EPS for the quarter, beating analysts’ consensus estimates of $3.57 by $0.07. The company had revenue of $3.71 billion during the quarter, compared to the consensus estimate of $3.55 billion. Diamondback Energy had a net margin of 33.64% and a return on equity of 13.68%. On average, research analysts expect that Diamondback Energy, Inc. will post 15.49 EPS for the current fiscal year.

Diamondback Energy Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, March 13th. Stockholders of record on Thursday, March 6th were issued a dividend of $1.00 per share. This represents a $4.00 dividend on an annualized basis and a dividend yield of 2.91%. The ex-dividend date was Thursday, March 6th. This is a boost from Diamondback Energy’s previous quarterly dividend of $0.90. Diamondback Energy’s payout ratio is currently 25.32%.

Analyst Ratings Changes

Several equities research analysts have commented on the stock. Scotiabank lowered their target price on shares of 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. Wolfe Research raised Diamondback Energy from a “peer perform” rating to an “outperform” rating and set a $190.00 price objective on the stock in a research note on Friday, January 3rd. Royal Bank of Canada reiterated an “outperform” rating and set a $210.00 target price on shares of Diamondback Energy in a report on Thursday, January 23rd. UBS Group lowered their price target on Diamondback Energy from $175.00 to $163.00 and set a “buy” rating for the company in a report on Thursday. Finally, Truist Financial lifted their price objective on Diamondback Energy from $238.00 to $242.00 and gave the company a “buy” rating in a report on Thursday. Three analysts have rated the stock with a hold rating, nineteen have issued a buy rating and two have issued a strong buy rating to the company. According to MarketBeat.com, Diamondback Energy has an average rating of “Moderate Buy” and a consensus price target of $206.13.

About Diamondback Energy

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.