6,558 Shares in Diamondback Energy, Inc. (NASDAQ:FANG) Acquired by Cullen Investment Group LTD.

Cullen Investment Group LTD. bought a new position in shares of Diamondback Energy, Inc. (NASDAQ:FANG) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 6,558 shares of the oil and natural gas company’s stock, valued at approximately $1,017,000.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Wellington Management Group LLP increased its holdings 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 buying an additional 648,317 shares in the last quarter. State Street Corp increased its holdings in shares of Diamondback Energy by 1.0% in the first quarter. State Street Corp now owns 11,656,848 shares of the oil and natural gas company’s stock valued at $1,575,653,000 after buying an additional 112,297 shares in the last quarter. Geode Capital Management LLC increased its holdings in shares of Diamondback Energy by 4.8% in the first quarter. Geode Capital Management LLC now owns 3,919,925 shares of the oil and natural gas company’s stock valued at $528,736,000 after buying an additional 179,405 shares in the last quarter. Morgan Stanley increased its holdings in shares of Diamondback Energy by 2.5% in the fourth quarter. Morgan Stanley now owns 3,572,083 shares of the oil and natural gas company’s stock valued at $488,590,000 after buying an additional 85,618 shares in the last quarter. Finally, Invesco Ltd. increased its holdings in shares of Diamondback Energy by 6.6% in the third quarter. Invesco Ltd. now owns 3,320,567 shares of the oil and natural gas company’s stock valued at $514,289,000 after buying an additional 206,189 shares in the last quarter. Institutional investors own 90.01% of the company’s stock.

Wall Street Analyst Weigh In

FANG has been the topic of several research reports. Piper Sandler upped their price target on Diamondback Energy from $222.00 to $227.00 and gave the company an “overweight” rating in a report on Thursday, March 7th. Morgan Stanley dropped their price target on Diamondback Energy from $186.00 to $184.00 and set an “overweight” rating on the stock in a report on Monday. Raymond James lowered their price objective on shares of Diamondback Energy from $190.00 to $185.00 and set a “strong-buy” rating on the stock in a research report on Wednesday, January 24th. KeyCorp lifted their price objective on shares of Diamondback Energy from $186.00 to $210.00 and gave the stock an “overweight” rating in a research report on Thursday, March 21st. Finally, UBS Group lifted their price objective on shares of Diamondback Energy from $183.00 to $200.00 and gave the stock a “buy” rating in a research report on Wednesday, February 14th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating, fourteen have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, Diamondback Energy currently has a consensus rating of “Moderate Buy” and an average target price of $195.95.

Diamondback Energy Stock Down 0.5 %

FANG stock opened at $205.35 on Tuesday. 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, Inc. has a 1 year low of $123.41 and a 1 year high of $211.96. The company has a fifty day simple moving average of $185.96 and a 200 day simple moving average of $166.40. The firm has a market cap of $36.62 billion, a PE ratio of 11.84 and a beta of 1.93.

Diamondback Energy (NASDAQ:FANG) last released its quarterly earnings data on Tuesday, February 20th. The oil and natural gas company reported $4.74 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.61 by $0.13. Diamondback Energy had a net margin of 37.36% and a return on equity of 19.56%. The business had revenue of $2.23 billion during the quarter, compared to analyst estimates of $2.16 billion. During the same quarter in the previous year, the business earned $5.29 EPS. Diamondback Energy’s quarterly revenue was up 9.8% compared to the same quarter last year. Sell-side analysts anticipate that Diamondback Energy, Inc. will post 18.47 EPS for the current fiscal year.

Diamondback Energy Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, March 12th. Investors of record on Tuesday, March 5th were paid a $3.08 dividend. This represents a $12.32 annualized dividend and a dividend 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 payout ratio is presently 20.76%.

Insider Activity at Diamondback Energy

In related news, CEO Travis D. Stice sold 30,000 shares of Diamondback Energy stock in a transaction on Tuesday, April 2nd. The shares were sold at an average price of $200.00, for a total value of $6,000,000.00. Following the completion of the sale, the chief executive officer now owns 446,610 shares of the company’s stock, valued at approximately $89,322,000. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other Diamondback Energy news, CEO Travis D. Stice sold 30,000 shares of the business’s stock in a transaction on Tuesday, April 2nd. The shares were sold at an average price of $200.00, for a total transaction of $6,000,000.00. Following the completion of the transaction, the chief executive officer now owns 446,610 shares of the company’s stock, valued at approximately $89,322,000. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, COO Daniel N. Wesson sold 6,000 shares of the business’s stock in a transaction on Tuesday, March 19th. The stock was sold at an average price of $192.17, for a total transaction of $1,153,020.00. Following the transaction, the chief operating officer now directly owns 78,218 shares of the company’s stock, valued at approximately $15,031,153.06. The disclosure for this sale can be found here. In the last 90 days, insiders sold 57,675 shares of company stock valued at $11,311,096. Insiders own 0.43% of the company’s stock.

Diamondback Energy Company 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.