Intact Investment Management Inc. Grows Stock Holdings in Diamondback Energy, Inc. (NASDAQ:FANG)

Intact Investment Management Inc. lifted its position in shares of Diamondback Energy, Inc. (NASDAQ:FANG) by 27.9% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 28,900 shares of the oil and natural gas company’s stock after acquiring an additional 6,300 shares during the period. Intact Investment Management Inc.’s holdings in Diamondback Energy were worth $4,482,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Russell Investments Group Ltd. increased its position in shares of Diamondback Energy by 3.2% during the fourth quarter. Russell Investments Group Ltd. now owns 198,257 shares of the oil and natural gas company’s stock valued at $30,746,000 after acquiring an additional 6,213 shares in the last quarter. Dohj LLC bought a new stake in Diamondback Energy in the 4th quarter worth approximately $509,000. Gilliland Jeter Wealth Management LLC bought a new stake in Diamondback Energy in the 4th quarter worth approximately $347,000. Headlands Technologies LLC grew its position in Diamondback Energy by 125.8% in the 4th quarter. Headlands Technologies LLC now owns 824 shares of the oil and natural gas company’s stock worth $128,000 after purchasing an additional 459 shares during the period. Finally, Truist Financial Corp grew its position in Diamondback Energy by 5.7% in the 4th quarter. Truist Financial Corp now owns 78,868 shares of the oil and natural gas company’s stock worth $12,231,000 after purchasing an additional 4,269 shares during the period. Institutional investors own 90.01% of the company’s stock.

Insiders Place Their Bets

In other Diamondback Energy news, CFO Hof Matthew Kaes Van’t sold 12,000 shares of the company’s stock in a transaction dated Wednesday, March 20th. The shares were sold at an average price of $190.82, for a total value of $2,289,840.00. Following the transaction, the chief financial officer now directly owns 185,882 shares in the company, valued at approximately $35,470,003.24. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In other Diamondback Energy news, CFO Hof Matthew Kaes Van’t sold 12,000 shares of the company’s stock in a transaction dated Wednesday, March 20th. The shares were sold at an average price of $190.82, for a total value of $2,289,840.00. Following the transaction, the chief financial officer now directly owns 185,882 shares in the company, valued at approximately $35,470,003.24. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Travis D. Stice sold 30,000 shares of the company’s stock in a transaction dated Tuesday, April 2nd. The stock was 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 in the company, valued at $89,322,000. The disclosure for this sale can be found here. Insiders have sold 57,675 shares of company stock worth $11,311,096 in the last three months. Corporate insiders own 0.43% of the company’s stock.

Analysts Set New Price Targets

FANG has been the topic of several analyst reports. Scotiabank lifted their price target on shares of Diamondback Energy from $210.00 to $255.00 and gave the stock a “sector outperform” rating in a research note on Thursday, April 11th. Barclays started coverage on shares of Diamondback Energy in a research note on Wednesday, April 10th. They set an “equal weight” rating and a $214.00 target price on the stock. BMO Capital Markets lifted their target price on shares of Diamondback Energy from $167.00 to $175.00 and gave the company a “market perform” rating in a research note on Tuesday, February 13th. Mizuho lifted their target price on shares of Diamondback Energy from $200.00 to $217.00 and gave the company a “buy” rating in a research note on Thursday, April 11th. Finally, Bank Of America (Bofa) lowered their target price on shares of Diamondback Energy from $147.00 to $129.00 and set an “underperform” rating on the stock in a research note on Thursday, January 18th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating, thirteen have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, Diamondback Energy presently has an average rating of “Moderate Buy” and a consensus price target of $202.53.

Diamondback Energy Trading Up 0.3 %

NASDAQ:FANG traded up $0.66 during mid-day trading on Friday, hitting $207.76. 1,184,009 shares of the stock traded hands, compared to its average volume of 1,327,313. The stock has a market capitalization of $37.05 billion, a price-to-earnings ratio of 11.98 and a beta of 1.93. Diamondback Energy, Inc. has a 52 week low of $123.41 and a 52 week high of $211.96. The firm’s 50 day moving average is $193.25 and its two-hundred day moving average is $169.58. The company has a quick ratio of 0.74, a current ratio of 0.77 and a debt-to-equity ratio of 0.38.

Diamondback Energy (NASDAQ:FANG) last issued its quarterly earnings results on Tuesday, February 20th. The oil and natural gas company reported $4.74 EPS for the quarter, beating the consensus estimate of $4.61 by $0.13. The company had revenue of $2.23 billion for the quarter, compared to the consensus estimate of $2.16 billion. Diamondback Energy had a net margin of 37.36% and a return on equity of 19.56%. The firm’s revenue was up 9.8% compared to the same quarter last year. During the same period in the prior year, the firm posted $5.29 EPS. On average, equities research analysts predict that Diamondback Energy, Inc. will post 18.83 earnings per share for the current year.

Diamondback Energy Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, March 12th. Shareholders of record on Tuesday, March 5th were paid a $3.08 dividend. This is an increase from Diamondback Energy’s previous quarterly dividend of $0.84. This represents a $12.32 dividend on an annualized basis and a yield of 5.93%. The ex-dividend date of this dividend was Monday, March 4th. Diamondback Energy’s dividend payout ratio is currently 20.76%.

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.