Canada Post Corp Registered Pension Plan Makes New Investment in Diamondback Energy, Inc. (NASDAQ:FANG)

Canada Post Corp Registered Pension Plan bought a new stake in Diamondback Energy, Inc. (NASDAQ:FANG) during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm bought 3,375 shares of the oil and natural gas company’s stock, valued at approximately $553,000.

Other institutional investors have also recently made changes to their positions in the company. Boston Partners lifted its holdings in Diamondback Energy by 12.4% in the 4th quarter. Boston Partners now owns 5,169,742 shares of the oil and natural gas company’s stock valued at $849,202,000 after purchasing an additional 571,820 shares in the last quarter. Geode Capital Management LLC raised its position in shares of Diamondback Energy by 2.0% in the fourth quarter. Geode Capital Management LLC now owns 4,710,165 shares of the oil and natural gas company’s stock valued at $769,706,000 after buying an additional 91,605 shares during the last quarter. Bank of New York Mellon Corp lifted its stake in shares of Diamondback Energy by 13.7% in the fourth quarter. Bank of New York Mellon Corp now owns 4,163,070 shares of the oil and natural gas company’s stock worth $682,036,000 after buying an additional 502,916 shares in the last quarter. Invesco Ltd. boosted its position in Diamondback Energy by 12.6% during the fourth quarter. Invesco Ltd. now owns 3,086,468 shares of the oil and natural gas company’s stock worth $505,656,000 after acquiring an additional 345,353 shares during the last quarter. Finally, Diamond Hill Capital Management Inc. grew its stake in Diamondback Energy by 30.5% during the 4th quarter. Diamond Hill Capital Management Inc. now owns 2,817,554 shares of the oil and natural gas company’s stock valued at $461,600,000 after acquiring an additional 658,644 shares in the last quarter. 90.01% of the stock is owned by institutional investors and hedge funds.

Diamondback Energy Stock Performance

NASDAQ FANG opened at $127.14 on Wednesday. The company has a market cap of $37.39 billion, a P/E ratio of 7.28, a P/E/G ratio of 1.24 and a beta of 1.44. Diamondback Energy, Inc. has a 1-year low of $114.00 and a 1-year high of $214.50. The company has a debt-to-equity ratio of 0.31, a current ratio of 0.45 and a quick ratio of 0.42. The stock has a 50-day moving average of $148.66 and a two-hundred day moving average of $165.69.

Diamondback Energy (NASDAQ:FANG) last announced its quarterly earnings data on Tuesday, February 25th. The oil and natural gas company reported $3.64 earnings per share for the quarter, beating analysts’ consensus estimates of $3.57 by $0.07. The firm had revenue of $3.71 billion during the quarter, compared to analysts’ expectations of $3.55 billion. Diamondback Energy had a net margin of 33.64% and a return on equity of 13.68%. As a group, analysts anticipate that Diamondback Energy, Inc. will post 15.49 EPS for the current year.

Diamondback Energy Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, March 13th. Stockholders of record on Thursday, March 6th were paid a $1.00 dividend. This is a boost from Diamondback Energy’s previous quarterly dividend of $0.90. This represents a $4.00 annualized dividend and a dividend yield of 3.15%. The ex-dividend date was Thursday, March 6th. Diamondback Energy’s dividend payout ratio (DPR) is presently 25.32%.

Insider Activity at Diamondback Energy

In related news, Director Frank D. Tsuru purchased 2,000 shares of Diamondback Energy stock in a transaction on Friday, February 28th. The shares were bought at an average price of $156.51 per share, with a total value of $313,020.00. Following the transaction, the director now directly owns 5,730 shares of the company’s stock, valued at approximately $896,802.30. This trade represents a 53.62 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.48% of the stock is currently owned by company insiders.

Analyst Ratings Changes

Several brokerages have recently weighed in on FANG. Raymond James lowered their target price on Diamondback Energy from $245.00 to $214.00 and set a “strong-buy” rating on the stock in a report on Wednesday, March 12th. Citigroup upgraded Diamondback Energy from a “reduce” rating to a “buy” rating and upped their target price for the company from $157.00 to $180.00 in a report on Monday, April 7th. Truist Financial raised their target price on Diamondback Energy from $236.00 to $238.00 and gave the stock a “buy” rating in a research note on Wednesday, February 19th. JPMorgan Chase & Co. lowered their price target on shares of Diamondback Energy from $167.00 to $166.00 and set an “overweight” rating on the stock in a research report on Thursday, April 10th. Finally, Williams Trading set a $190.00 price objective on shares of Diamondback Energy in a research report on Wednesday, March 5th. Three equities research analysts have rated the stock with a hold rating, nineteen have given a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $208.17.

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.