Hartford Investment Management Co. Purchases Shares of 16,759 Diamondback Energy Inc (FANG)

Hartford Investment Management Co. purchased a new position in shares of Diamondback Energy Inc (NASDAQ:FANG) in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund purchased 16,759 shares of the oil and natural gas company’s stock, valued at approximately $1,554,000.

Several other large investors have also recently added to or reduced their stakes in FANG. M&T Bank Corp increased its stake in shares of Diamondback Energy by 8.5% during the 4th quarter. M&T Bank Corp now owns 10,494 shares of the oil and natural gas company’s stock valued at $972,000 after acquiring an additional 818 shares during the last quarter. LS Investment Advisors LLC increased its stake in shares of Diamondback Energy by 375.6% during the 4th quarter. LS Investment Advisors LLC now owns 5,427 shares of the oil and natural gas company’s stock valued at $503,000 after acquiring an additional 4,286 shares during the last quarter. Financial Counselors Inc. increased its stake in shares of Diamondback Energy by 66.4% during the 4th quarter. Financial Counselors Inc. now owns 11,973 shares of the oil and natural gas company’s stock valued at $1,110,000 after acquiring an additional 4,776 shares during the last quarter. Financial Architects Inc increased its stake in shares of Diamondback Energy by 3,268.2% during the 4th quarter. Financial Architects Inc now owns 741 shares of the oil and natural gas company’s stock valued at $69,000 after acquiring an additional 719 shares during the last quarter. Finally, Wright Investors Service Inc. increased its stake in shares of Diamondback Energy by 6.1% during the 4th quarter. Wright Investors Service Inc. now owns 4,617 shares of the oil and natural gas company’s stock valued at $428,000 after acquiring an additional 265 shares during the last quarter.

Diamondback Energy stock opened at $96.60 on Monday. The company has a market cap of $9.78 billion, a PE ratio of 18.23, a price-to-earnings-growth ratio of 0.47 and a beta of 0.93. The company has a debt-to-equity ratio of 0.36, a current ratio of 1.10 and a quick ratio of 1.08. Diamondback Energy Inc has a 52 week low of $85.19 and a 52 week high of $140.78.

The firm also recently announced a quarterly dividend, which will be paid on Thursday, February 28th. Stockholders of record on Thursday, February 21st will be paid a dividend of $0.125 per share. This represents a $0.50 annualized dividend and a dividend yield of 0.52%. The ex-dividend date of this dividend is Wednesday, February 20th. Diamondback Energy’s dividend payout ratio (DPR) is currently 9.43%.

A number of brokerages have recently issued reports on FANG. Williams Capital set a $171.00 target price on Diamondback Energy and gave the stock a “buy” rating in a report on Wednesday, November 7th. Oppenheimer reiterated a “buy” rating on shares of Diamondback Energy in a report on Tuesday, November 6th. Zacks Investment Research upgraded Diamondback Energy from a “hold” rating to a “buy” rating and set a $126.00 target price for the company in a report on Thursday, October 25th. Jefferies Financial Group assumed coverage on Diamondback Energy in a report on Monday, December 3rd. They set a “buy” rating and a $177.00 target price for the company. Finally, Morgan Stanley decreased their price target on Diamondback Energy from $171.00 to $153.00 and set a “buy” rating for the company in a report on Tuesday, November 20th. Two research analysts have rated the stock with a sell rating, one has assigned a hold rating, twenty-five have given a buy rating and one has given a strong buy rating to the company’s stock. The company currently has an average rating of “Buy” and an average price target of $158.43.

In other news, VP Hof Matthew Kaes Van’t sold 1,000 shares of the stock in a transaction that occurred on Thursday, December 20th. The stock was sold at an average price of $89.91, for a total transaction of $89,910.00. Following the completion of the transaction, the vice president now directly owns 5,757 shares in the company, valued at approximately $517,611.87. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Corporate insiders own 0.57% of the company’s stock.

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About Diamondback Energy

Diamondback Energy, Inc, an independent oil and natural gas company, focuses on the acquisition, development, exploration, and exploitation of onshore oil and natural gas reserves in the Permian Basin in West Texas. Its activities are primarily focused on the Wolfcamp, Spraberry, Clearfork, Bone Spring, and Cline formations.

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Institutional Ownership by Quarter for Diamondback Energy (NASDAQ:FANG)

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