Phoenix Holdings Ltd. increased its stake in Diamondback Energy Inc (NASDAQ:FANG) by 36.4% in the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 300,000 shares of the oil and natural gas company’s stock after acquiring an additional 80,000 shares during the period. Diamondback Energy comprises approximately 1.2% of Phoenix Holdings Ltd.’s portfolio, making the stock its 28th largest position. Phoenix Holdings Ltd. owned about 0.19% of Diamondback Energy worth $27,666,000 as of its most recent filing with the SEC.
A number of other large investors also recently made changes to their positions in FANG. CNB Bank purchased a new stake in Diamondback Energy during the fourth quarter valued at about $30,000. Ancora Advisors LLC purchased a new stake in Diamondback Energy during the fourth quarter valued at about $37,000. Capital Wealth Alliance LLC purchased a new stake in Diamondback Energy during the fourth quarter valued at about $38,000. Evoke Wealth LLC purchased a new stake in Diamondback Energy during the third quarter valued at about $45,000. Finally, Rockefeller Capital Management L.P. purchased a new stake in Diamondback Energy during the fourth quarter valued at about $51,000. Institutional investors own 96.90% of the company’s stock.
In related news, CEO Travis D. Stice purchased 17,146 shares of the firm’s stock in a transaction that occurred on Tuesday, March 10th. The stock was bought at an average cost of $28.40 per share, with a total value of $486,946.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CFO Hof Matthew Kaes Van’t purchased 4,750 shares of the firm’s stock in a transaction that occurred on Thursday, March 19th. The stock was bought at an average cost of $17.23 per share, with a total value of $81,842.50. Following the completion of the purchase, the chief financial officer now owns 52,130 shares of the company’s stock, valued at $898,199.90. The disclosure for this purchase can be found here. 0.47% of the stock is owned by corporate insiders.
Several research firms have issued reports on FANG. Zacks Investment Research upgraded shares of Diamondback Energy from a “hold” rating to a “buy” rating and set a $88.00 price target for the company in a research report on Monday, January 27th. Morgan Stanley lowered shares of Diamondback Energy from an “overweight” rating to an “equal weight” rating in a research report on Monday, March 16th. BidaskClub upgraded shares of Diamondback Energy from a “strong sell” rating to a “sell” rating in a research report on Tuesday. KeyCorp cut their price target on shares of Diamondback Energy from $90.00 to $75.00 and set an “overweight” rating for the company in a research report on Thursday. Finally, Barclays restated a “buy” rating and set a $34.00 price target on shares of Diamondback Energy in a research report on Wednesday. Two analysts have rated the stock with a sell rating, six have issued a hold rating and nineteen have given a buy rating to the stock. The stock presently has an average rating of “Buy” and a consensus target price of $104.08.
Shares of NASDAQ:FANG traded up $1.78 during midday trading on Thursday, hitting $25.95. 5,156,181 shares of the stock traded hands, compared to its average volume of 3,844,039. The stock has a market capitalization of $3.83 billion, a PE ratio of 18.67, a P/E/G ratio of 0.18 and a beta of 1.09. The business’s 50 day moving average is $54.17 and its two-hundred day moving average is $78.17. The company has a quick ratio of 0.66, a current ratio of 0.69 and a debt-to-equity ratio of 0.36. Diamondback Energy Inc has a one year low of $14.55 and a one year high of $114.14.
Diamondback Energy (NASDAQ:FANG) last issued its quarterly earnings data on Tuesday, February 18th. The oil and natural gas company reported $1.93 EPS for the quarter, beating the consensus estimate of $1.80 by $0.13. Diamondback Energy had a net margin of 6.05% and a return on equity of 7.00%. The firm had revenue of $1.10 billion during the quarter, compared to the consensus estimate of $1.09 billion. During the same period in the prior year, the firm posted $1.21 earnings per share. The company’s quarterly revenue was up 74.4% compared to the same quarter last year. As a group, sell-side analysts forecast that Diamondback Energy Inc will post 6.19 earnings per share for the current year.
The business also recently declared a quarterly dividend, which was paid on Tuesday, March 10th. Investors of record on Tuesday, March 3rd were paid a $0.375 dividend. This is an increase from Diamondback Energy’s previous quarterly dividend of $0.19. This represents a $1.50 dividend on an annualized basis and a yield of 5.78%. The ex-dividend date of this dividend was Monday, March 2nd. Diamondback Energy’s dividend payout ratio is presently 21.65%.
About Diamondback Energy
Diamondback Energy, Inc, an independent oil and natural gas company, focuses on the acquisition, development, exploration, and exploitation of unconventional and onshore oil and natural gas reserves in the Permian Basin in West Texas. It primarily 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.
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