QSM Asset Management Ltd Acquires 30,500 Shares of Diamondback Energy, Inc. $FANG

QSM Asset Management Ltd raised its holdings in Diamondback Energy, Inc. (NASDAQ:FANG) by 100.0% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 61,000 shares of the oil and natural gas company’s stock after acquiring an additional 30,500 shares during the period. Diamondback Energy makes up approximately 5.2% of QSM Asset Management Ltd’s investment portfolio, making the stock its 8th largest position. QSM Asset Management Ltd’s holdings in Diamondback Energy were worth $9,170,000 as of its most recent SEC filing.

Other institutional investors have also bought and sold shares of the company. JPL Wealth Management LLC purchased a new position in Diamondback Energy during the third quarter worth approximately $26,000. E Fund Management Hong Kong Co. Ltd. increased its stake in shares of 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 worth $28,000 after acquiring an additional 102 shares during the last quarter. Twin Peaks Wealth Advisors LLC acquired a new stake in shares of Diamondback Energy in the 2nd quarter worth $29,000. Salomon & Ludwin LLC purchased a new position in shares of Diamondback Energy during the 3rd quarter worth $31,000. Finally, KERR FINANCIAL PLANNING Corp purchased a new position in shares of Diamondback Energy during the 3rd quarter worth $38,000. 90.01% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Diamondback Energy

In other Diamondback Energy news, Chairman Travis D. Stice sold 63,957 shares of the company’s stock in a transaction on Friday, March 6th. The stock was sold at an average price of $181.16, for a total transaction of $11,586,450.12. Following the transaction, the chairman directly owned 305,314 shares in the company, valued at $55,310,684.24. This represents a 17.32% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Charles Alvin Meloy sold 60,605 shares of the firm’s stock in a transaction on Tuesday, February 3rd. The stock was sold at an average price of $161.12, for a total value of $9,764,677.60. Following the transaction, the director owned 982,006 shares of the company’s stock, valued at approximately $158,220,806.72. This represents a 5.81% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders sold 1,209,212 shares of company stock worth $199,689,401. 0.48% of the stock is owned by company insiders.

Diamondback Energy Stock Performance

NASDAQ FANG opened at $198.65 on Tuesday. The stock has a fifty day simple moving average of $174.07 and a 200-day simple moving average of $156.44. The company has a current ratio of 0.42, a quick ratio of 0.40 and a debt-to-equity ratio of 0.32. The stock has a market cap of $55.88 billion, a PE ratio of 35.41 and a beta of 0.59. Diamondback Energy, Inc. has a twelve month low of $114.00 and a twelve month high of $204.91.

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

Diamondback Energy Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, March 12th. Stockholders of record on Thursday, March 5th were paid a $1.05 dividend. This is a positive change from Diamondback Energy’s previous quarterly dividend of $1.00. The ex-dividend date of this dividend was Thursday, March 5th. This represents a $4.20 dividend on an annualized basis and a dividend yield of 2.1%. Diamondback Energy’s payout ratio is presently 74.87%.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on FANG shares. Jefferies Financial Group reissued a “hold” rating and issued a $173.00 price objective on shares of Diamondback Energy in a report on Monday, January 19th. Sanford C. Bernstein reduced their target price on shares of Diamondback Energy from $199.00 to $190.00 and set an “outperform” rating on the stock in a research note on Monday, January 5th. Scotiabank set a $175.00 target price on shares of Diamondback Energy in a report on Friday, January 16th. Freedom Capital raised shares of Diamondback Energy to a “strong-buy” rating in a research note on Tuesday, March 10th. Finally, Truist Financial assumed coverage on shares of Diamondback Energy in a report on Tuesday, March 24th. They set a “buy” rating and a $222.00 price target for the company. Four analysts have rated the stock with a Strong Buy rating, nineteen have given a Buy rating and three have given a Hold rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Buy” and an average target price of $199.29.

Diamondback Energy 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.