30,000 Shares in Diamondback Energy, Inc. $FANG Acquired by Ilmarinen Mutual Pension Insurance Co

Ilmarinen Mutual Pension Insurance Co acquired a new position in Diamondback Energy, Inc. (NASDAQ:FANG) in the fourth quarter, Holdings Channel reports. The firm acquired 30,000 shares of the oil and natural gas company’s stock, valued at approximately $4,510,000.

A number of other institutional investors have also recently bought and sold shares of FANG. Flagship Harbor Advisors LLC acquired a new stake in Diamondback Energy during the 4th quarter worth about $25,000. Richardson Financial Services Inc. boosted its stake in shares of Diamondback Energy by 245.1% during the 4th quarter. Richardson Financial Services Inc. now owns 176 shares of the oil and natural gas company’s stock valued at $26,000 after buying an additional 125 shares during the period. Laurel Wealth Advisors LLC acquired a new stake in shares of Diamondback Energy during the 4th quarter valued at $26,000. JPL Wealth Management LLC acquired a new stake in shares of Diamondback Energy during the 3rd quarter valued at $26,000. Finally, Wellington Shields & Co. LLC boosted its stake in shares of Diamondback Energy by 264.7% during the 4th quarter. Wellington Shields & Co. LLC now owns 186 shares of the oil and natural gas company’s stock valued at $28,000 after buying an additional 135 shares during the period. 90.01% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities research analysts have issued reports on FANG shares. The Goldman Sachs Group lifted their target price on shares of Diamondback Energy from $187.00 to $212.00 and gave the company a “buy” rating in a research note on Wednesday, March 11th. KeyCorp lifted their price target on Diamondback Energy from $196.00 to $225.00 and gave the company an “overweight” rating in a report on Thursday, April 2nd. Weiss Ratings reiterated a “hold (c)” rating on shares of Diamondback Energy in a report on Wednesday. Truist Financial set a $242.00 price target on Diamondback Energy in a report on Wednesday, May 6th. Finally, TD Cowen upgraded Diamondback Energy to a “strong-buy” rating in a report on Monday, February 9th. Five analysts have rated the stock with a Strong Buy rating, sixteen have issued a Buy rating and four have given a Hold rating to the company. According to MarketBeat, the company has an average rating of “Buy” and an average target price of $223.26.

Diamondback Energy Stock Down 1.4%

FANG stock opened at $191.48 on Friday. The company has a fifty day simple moving average of $195.28 and a 200 day simple moving average of $171.79. Diamondback Energy, Inc. has a 1 year low of $133.75 and a 1 year high of $214.51. The company has a current ratio of 0.56, a quick ratio of 0.55 and a debt-to-equity ratio of 0.31. The firm has a market cap of $53.87 billion, a PE ratio of 222.65 and a beta of 0.46.

Diamondback Energy (NASDAQ:FANG) last posted its earnings results on Monday, May 4th. The oil and natural gas company reported $4.23 earnings per share for the quarter, topping the consensus estimate of $3.74 by $0.49. Diamondback Energy had a return on equity of 7.76% and a net margin of 1.87%.The firm had revenue of $4.24 billion during the quarter, compared to analyst estimates of $3.83 billion. During the same period in the previous year, the company earned $4.54 EPS. The company’s revenue for the quarter was up 4.7% on a year-over-year basis. Sell-side analysts anticipate that Diamondback Energy, Inc. will post 19.49 EPS for the current fiscal year.

Diamondback Energy Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, May 21st. Shareholders of record on Thursday, May 14th were given a dividend of $1.10 per share. The ex-dividend date of this dividend was Thursday, May 14th. This represents a $4.40 dividend on an annualized basis and a yield of 2.3%. This is a positive change from Diamondback Energy’s previous quarterly dividend of $1.05. Diamondback Energy’s dividend payout ratio (DPR) is presently 511.63%.

Insider Activity

In other Diamondback Energy news, CAO Teresa L. Dick sold 5,000 shares of the business’s stock in a transaction on Wednesday, March 18th. The shares were sold at an average price of $190.00, for a total transaction of $950,000.00. Following the completion of the transaction, the chief accounting officer owned 107,755 shares of the company’s stock, valued at $20,473,450. The trade was a 4.43% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Matt Zmigrosky sold 20,899 shares of the business’s stock in a transaction on Friday, March 13th. The stock was sold at an average price of $180.00, for a total transaction of $3,761,820.00. Following the transaction, the executive vice president directly owned 60,493 shares of the company’s stock, valued at approximately $10,888,740. This represents a 25.68% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders have sold 174,321 shares of company stock worth $32,090,475. Insiders own 0.64% of the company’s stock.

Diamondback Energy Profile

Diamondback Energy, Inc (NASDAQ: FANG) is an independent oil and natural gas company focused on the development, exploration and production of unconventional resources in the Permian Basin. Headquartered in Midland, Texas, the company concentrates its operations in the core Midland and Delaware sub‑basins of West Texas and southeastern New Mexico, where it pursues contiguous acreage positions to support repeatable drilling programs.

Diamondback’s activities span the upstream value chain, including leasehold acquisition, well planning, drilling, completion and production optimization.