GF Fund Management CO. LTD. Invests $17.15 Million in Diamondback Energy, Inc. (NASDAQ:FANG)

GF Fund Management CO. LTD. purchased a new stake in Diamondback Energy, Inc. (NASDAQ:FANG) in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 104,693 shares of the oil and natural gas company’s stock, valued at approximately $17,152,000.

Other institutional investors have also recently added to or reduced their stakes in the company. Price T Rowe Associates Inc. MD increased its stake in shares of Diamondback Energy by 11.3% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 9,136,645 shares of the oil and natural gas company’s stock worth $1,496,859,000 after acquiring an additional 928,429 shares during the last quarter. Boston Partners increased its position in Diamondback Energy by 12.4% during 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 raised its stake in Diamondback Energy by 2.0% during the fourth quarter. Geode Capital Management LLC now owns 4,710,165 shares of the oil and natural gas company’s stock worth $769,706,000 after purchasing an additional 91,605 shares during the period. Bank of New York Mellon Corp boosted its holdings in Diamondback Energy by 13.7% in the 4th quarter. Bank of New York Mellon Corp now owns 4,163,070 shares of the oil and natural gas company’s stock valued at $682,036,000 after purchasing an additional 502,916 shares during the last quarter. Finally, Demars Financial Group LLC purchased a new stake in shares of Diamondback Energy in the 4th quarter valued at approximately $638,050,000. Hedge funds and other institutional investors own 90.01% of the company’s stock.

Diamondback Energy Stock Down 0.3%

Diamondback Energy stock opened at $135.86 on Friday. The stock has a market cap of $39.69 billion, a PE ratio of 7.78, a P/E/G ratio of 1.24 and a beta of 1.06. The company has a debt-to-equity ratio of 0.31, a current ratio of 0.45 and a quick ratio of 0.42. The stock’s fifty day moving average is $139.96 and its two-hundred day moving average is $156.76. Diamondback Energy, Inc. has a 1-year low of $114.00 and a 1-year high of $214.50.

Diamondback Energy (NASDAQ:FANG) last issued its earnings results on Monday, May 5th. The oil and natural gas company reported $4.54 earnings per share for the quarter, topping the consensus estimate of $3.67 by $0.87. The business had revenue of $4.05 billion for the quarter, compared to analyst estimates of $3.58 billion. Diamondback Energy had a return on equity of 13.68% and a net margin of 33.64%. The business’s quarterly revenue was up 81.8% on a year-over-year basis. During the same quarter last year, the company earned $4.50 EPS. On average, sell-side analysts expect that Diamondback Energy, Inc. will post 15.49 EPS for the current fiscal year.

Diamondback Energy Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, May 22nd. Shareholders of record on Thursday, May 15th were paid a $1.00 dividend. The ex-dividend date was Thursday, May 15th. This represents a $4.00 annualized dividend and a yield of 2.94%. Diamondback Energy’s dividend payout ratio is presently 24.46%.

Wall Street Analyst Weigh In

Several analysts have recently commented on FANG shares. Truist Financial lifted their price target on shares of Diamondback Energy from $238.00 to $242.00 and gave the company a “buy” rating in a research report on Thursday, April 17th. Barclays decreased their price target on Diamondback Energy from $200.00 to $185.00 and set an “overweight” rating on the stock in a research note on Wednesday, April 23rd. Royal Bank of Canada initiated coverage on Diamondback Energy in a research report on Friday, May 2nd. They set an “outperform” rating and a $180.00 price objective for the company. Williams Trading set a $190.00 target price on shares of Diamondback Energy in a research report on Wednesday, March 5th. Finally, Morgan Stanley reduced their price target on shares of Diamondback Energy from $186.00 to $183.00 and set an “overweight” rating on the stock in a research note on Friday. Two investment analysts have rated the stock with a hold rating, nineteen have issued a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat, Diamondback Energy presently has a consensus rating of “Buy” and a consensus target price of $193.09.

Insider Activity at Diamondback Energy

In related news, President Hof Matthew Kaes Van’t sold 10,000 shares of the stock in a transaction dated Monday, May 12th. The shares were sold at an average price of $142.69, for a total transaction of $1,426,900.00. Following the completion of the transaction, the president now directly owns 120,645 shares of the company’s stock, valued at $17,214,835.05. This represents a 7.65% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, Director Frank D. Tsuru purchased 2,000 shares of Diamondback Energy stock in a transaction dated Friday, February 28th. The stock was acquired at an average cost of $156.51 per share, with a total value of $313,020.00. Following the completion of the acquisition, the director now directly owns 5,730 shares in the company, valued at approximately $896,802.30. This trade represents a 53.62% increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders own 0.48% of the company’s stock.

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.