Diamondback Energy, Inc. $FANG Shares Bought by QSM Asset Management Ltd

QSM Asset Management Ltd lifted its holdings in shares of Diamondback Energy, Inc. (NASDAQ:FANG) by 100.0% during the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 61,000 shares of the oil and natural gas company’s stock after purchasing an additional 30,500 shares during the quarter. Diamondback Energy comprises about 5.2% of QSM Asset Management Ltd’s holdings, making the stock its 8th biggest holding. QSM Asset Management Ltd’s holdings in Diamondback Energy were worth $9,170,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. JPL Wealth Management LLC acquired a new position in shares of Diamondback Energy in the third quarter valued at approximately $26,000. E Fund Management Hong Kong Co. Ltd. boosted its position in Diamondback Energy by 106.3% in the 3rd quarter. E Fund Management Hong Kong Co. Ltd. now owns 198 shares of the oil and natural gas company’s stock valued at $28,000 after buying an additional 102 shares during the period. Salomon & Ludwin LLC purchased a new position in Diamondback Energy in the 3rd quarter valued at approximately $31,000. Twin Peaks Wealth Advisors LLC acquired a new position in shares of Diamondback Energy in the second quarter worth $29,000. Finally, KERR FINANCIAL PLANNING Corp purchased a new stake in shares of Diamondback Energy during the third quarter worth $38,000. Hedge funds and other institutional investors own 90.01% of the company’s stock.

Diamondback Energy Price Performance

Shares of FANG opened at $198.65 on Tuesday. The firm has a market capitalization of $55.88 billion, a price-to-earnings ratio of 35.41 and a beta of 0.59. The firm’s fifty day simple moving average is $174.07 and its 200-day simple moving average is $156.44. Diamondback Energy, Inc. has a twelve month low of $114.00 and a twelve month high of $204.91. The company has a current ratio of 0.42, a quick ratio of 0.40 and a debt-to-equity ratio of 0.32.

Diamondback Energy (NASDAQ:FANG) last issued its earnings results on Monday, February 23rd. The oil and natural gas company reported $1.74 EPS for the quarter, missing analysts’ consensus estimates of $2.00 by ($0.26). The firm had revenue of $3.38 billion for the quarter, compared to analyst estimates of $3.41 billion. Diamondback Energy had a return on equity of 8.08% and a net margin of 11.07%.The business’s revenue for the quarter was down 9.0% on a year-over-year basis. During the same quarter in the previous year, the firm posted $3.67 EPS. Equities analysts forecast that Diamondback Energy, Inc. will post 15.49 EPS for the current fiscal year.

Diamondback Energy Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, March 12th. Stockholders of record on Thursday, March 5th were given a dividend of $1.05 per share. The ex-dividend date of this dividend was Thursday, March 5th. This represents a $4.20 annualized dividend and a dividend yield of 2.1%. This is an increase from Diamondback Energy’s previous quarterly dividend of $1.00. Diamondback Energy’s payout ratio is currently 74.87%.

Insider Buying and Selling at Diamondback Energy

In related news, Director Charles Alvin Meloy sold 60,605 shares of the business’s stock in a transaction that occurred on Tuesday, February 3rd. The stock was sold at an average price of $161.12, for a total transaction of $9,764,677.60. Following the completion of the sale, the director owned 982,006 shares in the company, valued at $158,220,806.72. The trade was a 5.81% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Matt Zmigrosky sold 20,899 shares of the company’s stock in a transaction that occurred on Friday, March 13th. The shares were sold at an average price of $180.00, for a total value of $3,761,820.00. Following the completion of the transaction, the executive vice president directly owned 60,493 shares of the company’s stock, valued at $10,888,740. This trade represents a 25.68% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders sold 1,209,212 shares of company stock worth $199,689,401. Corporate insiders own 0.48% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on the company. Roth Mkm reiterated a “buy” rating and issued a $180.00 price objective on shares of Diamondback Energy in a research note on Tuesday, February 24th. The Goldman Sachs Group boosted their target price on Diamondback Energy from $187.00 to $212.00 and gave the stock a “buy” rating in a research note on Wednesday, March 11th. Barclays upped their price target on Diamondback Energy from $185.00 to $190.00 and gave the stock an “overweight” rating in a report on Monday, March 16th. UBS Group lifted their price objective on Diamondback Energy from $194.00 to $216.00 and gave the company a “buy” rating in a research note on Thursday, March 5th. Finally, Weiss Ratings reissued a “hold (c)” rating on shares of Diamondback Energy in a research report on Monday, December 29th. Four investment analysts have rated the stock with a Strong Buy rating, nineteen have assigned a Buy rating and three have issued a Hold rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Buy” and an average price target of $199.29.

Diamondback Energy Company 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.