Securian Asset Management Inc Invests $1.49 Million in Diamondback Energy Inc (FANG) Stock

Securian Asset Management Inc purchased a new position in Diamondback Energy Inc (NASDAQ:FANG) during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm purchased 16,021 shares of the oil and natural gas company’s stock, valued at approximately $1,485,000.

A number of other institutional investors and hedge funds also recently modified their holdings of FANG. Millennium Management LLC purchased a new stake in Diamondback Energy in the 2nd quarter worth $3,132,000. Advisors Asset Management Inc. lifted its stake in Diamondback Energy by 1.2% in the 2nd quarter. Advisors Asset Management Inc. now owns 54,376 shares of the oil and natural gas company’s stock worth $7,154,000 after purchasing an additional 652 shares in the last quarter. DNB Asset Management AS lifted its stake in Diamondback Energy by 8.3% in the 3rd quarter. DNB Asset Management AS now owns 11,410 shares of the oil and natural gas company’s stock worth $1,543,000 after purchasing an additional 879 shares in the last quarter. Nikko Asset Management Americas Inc. lifted its stake in Diamondback Energy by 52.8% in the 3rd quarter. Nikko Asset Management Americas Inc. now owns 50,982 shares of the oil and natural gas company’s stock worth $6,993,000 after purchasing an additional 17,621 shares in the last quarter. Finally, First Hawaiian Bank purchased a new stake in Diamondback Energy in the 3rd quarter worth $121,000.

In other news, VP Hof Matthew Kaes Van’t sold 1,000 shares of the company’s stock in a transaction that occurred on Thursday, December 20th. The shares were sold at an average price of $89.91, for a total value of $89,910.00. Following the completion of the sale, the vice president now owns 5,757 shares of the company’s stock, valued at approximately $517,611.87. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 0.57% of the stock is owned by corporate insiders.

Several analysts have commented on FANG shares. Barclays started coverage on shares of Diamondback Energy in a research note on Wednesday, January 16th. They issued an “overweight” rating and a $189.00 price target on the stock. Wells Fargo & Co restated an “outperform” rating and issued a $183.00 target price on shares of Diamondback Energy in a report on Wednesday, October 24th. ValuEngine upgraded shares of Diamondback Energy from a “sell” rating to a “hold” rating in a report on Saturday, January 5th. Ifs Securities started coverage on shares of Diamondback Energy in a report on Monday, October 29th. They issued a “strong-buy” rating on the stock. Finally, Goldman Sachs Group restated a “buy” rating on shares of Diamondback Energy in a report on Friday, December 28th. Two equities 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. The company currently has a consensus rating of “Buy” and an average price target of $158.43.

Shares of FANG stock opened at $96.60 on Monday. The company has a debt-to-equity ratio of 0.36, a quick ratio of 1.08 and a current ratio of 1.10. The stock has a market capitalization of $9.78 billion, a price-to-earnings ratio of 18.23, a P/E/G ratio of 0.47 and a beta of 0.93. Diamondback Energy Inc has a one year low of $85.19 and a one year high of $140.78.

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

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Diamondback Energy Profile

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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