Harvest Fund Management Co. Ltd Has $336,000 Holdings in Diamondback Energy, Inc. (NASDAQ:FANG)

Harvest Fund Management Co. Ltd boosted its stake in shares of Diamondback Energy, Inc. (NASDAQ:FANG) by 8.3% during the 4th quarter, Holdings Channel.com reports. The institutional investor owned 2,177 shares of the oil and natural gas company’s stock after purchasing an additional 166 shares during the quarter. Harvest Fund Management Co. Ltd’s holdings in Diamondback Energy were worth $336,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of FANG. Massachusetts Financial Services Co. MA increased its holdings in shares of Diamondback Energy by 39.9% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 3,007,599 shares of the oil and natural gas company’s stock valued at $465,817,000 after purchasing an additional 858,446 shares during the period. Diamond Hill Capital Management Inc. bought a new stake in shares of Diamondback Energy in the third quarter valued at approximately $128,720,000. Wellington Management Group LLP boosted its position in shares of Diamondback Energy by 4.8% in the third quarter. Wellington Management Group LLP now owns 14,266,640 shares of the oil and natural gas company’s stock valued at $2,209,617,000 after acquiring an additional 648,317 shares during the period. Raymond James & Associates boosted its position in shares of Diamondback Energy by 143.0% in the fourth quarter. Raymond James & Associates now owns 981,284 shares of the oil and natural gas company’s stock valued at $152,177,000 after acquiring an additional 577,514 shares during the period. Finally, Raymond James Financial Services Advisors Inc. boosted its position in shares of Diamondback Energy by 286.1% in the fourth quarter. Raymond James Financial Services Advisors Inc. now owns 595,694 shares of the oil and natural gas company’s stock valued at $92,380,000 after acquiring an additional 441,411 shares during the period. Institutional investors and hedge funds own 90.01% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have issued reports on FANG. Morgan Stanley dropped their price objective on Diamondback Energy from $186.00 to $184.00 and set an “overweight” rating for the company in a research note on Monday, April 15th. Scotiabank increased their price objective on Diamondback Energy from $210.00 to $255.00 and gave the stock a “sector outperform” rating in a research note on Thursday, April 11th. Piper Sandler increased their target price on Diamondback Energy from $227.00 to $247.00 and gave the stock an “overweight” rating in a report on Friday, April 19th. BMO Capital Markets increased their target price on Diamondback Energy from $167.00 to $175.00 and gave the stock a “market perform” rating in a report on Tuesday, February 13th. Finally, KeyCorp increased their target price on Diamondback Energy from $210.00 to $225.00 and gave the stock an “overweight” rating in a report on Monday. One research analyst has rated the stock with a sell rating, five have assigned a hold rating, thirteen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Diamondback Energy presently has an average rating of “Moderate Buy” and a consensus price target of $202.53.

Diamondback Energy Stock Up 0.4 %

Shares of NASDAQ FANG traded up $0.87 during mid-day trading on Wednesday, reaching $205.24. 1,286,892 shares of the company’s stock were exchanged, compared to its average volume of 1,739,854. The business has a fifty day simple moving average of $191.41 and a 200 day simple moving average of $168.61. Diamondback Energy, Inc. has a twelve month low of $123.41 and a twelve month high of $211.96. The firm has a market capitalization of $36.60 billion, a price-to-earnings ratio of 11.79 and a beta of 1.93. The company has a current ratio of 0.77, a quick ratio of 0.74 and a debt-to-equity ratio of 0.38.

Diamondback Energy (NASDAQ:FANG) last announced its earnings results on Tuesday, February 20th. The oil and natural gas company reported $4.74 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $4.61 by $0.13. Diamondback Energy had a return on equity of 19.56% and a net margin of 37.36%. The business had revenue of $2.23 billion for the quarter, compared to analyst estimates of $2.16 billion. During the same quarter last year, the firm earned $5.29 EPS. Diamondback Energy’s revenue for the quarter was up 9.8% compared to the same quarter last year. As a group, equities analysts expect that Diamondback Energy, Inc. will post 18.67 EPS for the current fiscal year.

Diamondback Energy Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, March 12th. Investors of record on Tuesday, March 5th were given a $3.08 dividend. This represents a $12.32 dividend on an annualized basis and a yield of 6.00%. The ex-dividend date of this dividend was Monday, March 4th. This is a positive change from Diamondback Energy’s previous quarterly dividend of $0.84. Diamondback Energy’s dividend payout ratio (DPR) is currently 20.76%.

Insider Activity at Diamondback Energy

In other Diamondback Energy news, CAO Teresa L. Dick sold 2,000 shares of the business’s stock in a transaction that occurred on Wednesday, March 20th. The stock was sold at an average price of $192.00, for a total transaction of $384,000.00. Following the transaction, the chief accounting officer now owns 96,523 shares of the company’s stock, valued at approximately $18,532,416. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, CEO Travis D. Stice sold 30,000 shares of Diamondback Energy stock in a transaction that occurred on Tuesday, April 2nd. The stock was sold at an average price of $200.00, for a total value of $6,000,000.00. Following the transaction, the chief executive officer now directly owns 446,610 shares of the company’s stock, valued at $89,322,000. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CAO Teresa L. Dick sold 2,000 shares of the business’s stock in a transaction that occurred on Wednesday, March 20th. The shares were sold at an average price of $192.00, for a total value of $384,000.00. Following the sale, the chief accounting officer now owns 96,523 shares of the company’s stock, valued at approximately $18,532,416. The disclosure for this sale can be found here. In the last quarter, insiders have sold 57,675 shares of company stock valued at $11,311,096. 0.43% of the stock is owned by insiders.

Diamondback Energy 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.