Fisher Asset Management LLC Has $20.84 Million Holdings in Diamondback Energy, Inc. (NASDAQ:FANG)

Fisher Asset Management LLC increased its position in shares of Diamondback Energy, Inc. (NASDAQ:FANG) by 0.3% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 134,354 shares of the oil and natural gas company’s stock after acquiring an additional 416 shares during the quarter. Fisher Asset Management LLC owned 0.08% of Diamondback Energy worth $20,836,000 as of its most recent SEC filing.

A number of other large investors have also made changes to their positions in the company. BKM Wealth Management LLC acquired a new position in Diamondback Energy in the 4th quarter valued at approximately $27,000. Logan Capital Management Inc. acquired a new position in Diamondback Energy in the 4th quarter valued at approximately $31,000. Turtle Creek Wealth Advisors LLC acquired a new position in Diamondback Energy in the 4th quarter valued at approximately $34,000. CVA Family Office LLC acquired a new position in Diamondback Energy in the 4th quarter valued at approximately $35,000. Finally, Cary Street Partners Investment Advisory LLC increased its stake in Diamondback Energy by 559.0% in the 3rd quarter. Cary Street Partners Investment Advisory LLC now owns 257 shares of the oil and natural gas company’s stock valued at $40,000 after buying an additional 218 shares during the period. Institutional investors and hedge funds own 90.01% of the company’s stock.

Insider Transactions at Diamondback Energy

In related news, VP Jere W. Thompson III sold 900 shares of the stock in a transaction dated Friday, May 3rd. The shares were sold at an average price of $199.90, for a total value of $179,910.00. Following the completion of the transaction, the vice president now owns 7,585 shares of the company’s stock, valued at $1,516,241.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other Diamondback Energy news, VP Jere W. Thompson III sold 900 shares of the company’s stock in a transaction on Friday, May 3rd. The stock was sold at an average price of $199.90, for a total value of $179,910.00. Following the sale, the vice president now directly owns 7,585 shares in the company, valued at $1,516,241.50. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, COO Daniel N. Wesson sold 6,000 shares of the stock in a transaction on Tuesday, May 28th. The stock was sold at an average price of $197.14, for a total value of $1,182,840.00. Following the transaction, the chief operating officer now owns 69,677 shares of the company’s stock, valued at $13,736,123.78. The disclosure for this sale can be found here. In the last three months, insiders sold 41,900 shares of company stock valued at $8,332,450. Company insiders own 0.48% of the company’s stock.

Analysts Set New Price Targets

Several analysts have commented on FANG shares. KeyCorp boosted their target price on shares of Diamondback Energy from $210.00 to $225.00 and gave the stock an “overweight” rating in a research report on Monday, April 22nd. Evercore ISI boosted their target price on shares of Diamondback Energy from $185.00 to $215.00 and gave the stock an “outperform” rating in a research report on Monday, March 25th. Piper Sandler boosted their target price on shares of Diamondback Energy from $227.00 to $247.00 and gave the stock an “overweight” rating in a research report on Friday, April 19th. StockNews.com raised shares of Diamondback Energy from a “hold” rating to a “buy” rating in a research report on Tuesday, June 4th. Finally, Wells Fargo & Company decreased their target price on shares of Diamondback Energy from $227.00 to $224.00 and set an “overweight” rating for the company in a research report on Thursday, May 2nd. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating, fifteen have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $209.35.

Diamondback Energy Price Performance

Shares of Diamondback Energy stock opened at $188.87 on Wednesday. The company has a debt-to-equity ratio of 0.37, a current ratio of 0.92 and a quick ratio of 0.89. Diamondback Energy, Inc. has a fifty-two week low of $123.41 and a fifty-two week high of $211.96. The firm has a fifty day moving average price of $198.10 and a two-hundred day moving average price of $179.12. The company has a market cap of $33.68 billion, a PE ratio of 10.65 and a beta of 1.90.

Diamondback Energy (NASDAQ:FANG) last issued its quarterly earnings results on Tuesday, April 30th. The oil and natural gas company reported $4.50 earnings per share for the quarter, beating analysts’ consensus estimates of $4.29 by $0.21. Diamondback Energy had a net margin of 36.71% and a return on equity of 19.36%. The firm had revenue of $2.23 billion during the quarter, compared to the consensus estimate of $2.10 billion. During the same period in the prior year, the firm earned $4.10 EPS. The business’s revenue was up 15.7% on a year-over-year basis. Analysts expect that Diamondback Energy, Inc. will post 19.13 EPS for the current year.

Diamondback Energy Cuts Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, May 22nd. Stockholders of record on Wednesday, May 15th were paid a $0.90 dividend. This represents a $3.60 dividend on an annualized basis and a dividend yield of 1.91%. The ex-dividend date was Tuesday, May 14th. Diamondback Energy’s dividend payout ratio is 20.29%.

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.