Diamondback Energy, Inc. (NASDAQ:FANG) Stake Increased by Cigna Investments Inc. New

Cigna Investments Inc. New boosted its holdings in shares of Diamondback Energy, Inc. (NASDAQ:FANG) by 5.2% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,938 shares of the oil and natural gas company’s stock after buying an additional 96 shares during the period. Cigna Investments Inc. New’s holdings in Diamondback Energy were worth $318,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also recently bought and sold shares of the company. Peterson Wealth Services increased its holdings in shares of Diamondback Energy by 0.5% in the 4th quarter. Peterson Wealth Services now owns 21,507 shares of the oil and natural gas company’s stock valued at $3,524,000 after purchasing an additional 104 shares during the period. Clarus Group Inc. grew its position in Diamondback Energy by 3.4% during the fourth quarter. Clarus Group Inc. now owns 4,685 shares of the oil and natural gas company’s stock valued at $768,000 after purchasing an additional 156 shares in the last quarter. Summit Trail Advisors LLC increased its stake in Diamondback Energy by 35.0% in the 4th quarter. Summit Trail Advisors LLC now owns 2,210 shares of the oil and natural gas company’s stock valued at $362,000 after buying an additional 573 shares during the period. International Private Wealth Advisors LLC acquired a new position in Diamondback Energy in the 4th quarter valued at approximately $247,000. Finally, Global Wealth Management Investment Advisory Inc. boosted its stake in shares of Diamondback Energy by 6.1% during the 4th quarter. Global Wealth Management Investment Advisory Inc. now owns 16,459 shares of the oil and natural gas company’s stock valued at $2,697,000 after buying an additional 951 shares during the period. 90.01% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently weighed in on the stock. Raymond James upped their price target on shares of Diamondback Energy from $237.00 to $256.00 and gave the stock a “strong-buy” rating in a research note on Thursday, January 23rd. Wolfe Research raised Diamondback Energy from a “peer perform” rating to an “outperform” rating and set a $190.00 target price on the stock in a research report on Friday, January 3rd. StockNews.com upgraded Diamondback Energy from a “sell” rating to a “hold” rating in a report on Wednesday, November 13th. UBS Group dropped their price objective on Diamondback Energy from $235.00 to $212.00 and set a “buy” rating on the stock in a report on Monday, December 9th. Finally, Wells Fargo & Company lifted their target price on shares of Diamondback Energy from $218.00 to $219.00 and gave the company an “overweight” rating in a research note on Tuesday, December 17th. Four analysts have rated the stock with a hold rating, eighteen have assigned a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $215.00.

Diamondback Energy Price Performance

NASDAQ FANG opened at $162.01 on Wednesday. The stock has a 50-day simple moving average of $167.26 and a 200 day simple moving average of $178.89. Diamondback Energy, Inc. has a twelve month low of $152.00 and a twelve month high of $214.50. The stock has a market capitalization of $47.31 billion, a PE ratio of 9.27, a P/E/G ratio of 1.24 and a beta of 1.86. The company has a debt-to-equity ratio of 0.31, a quick ratio of 0.42 and a current ratio of 0.45.

Diamondback Energy Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, November 21st. Stockholders of record on Thursday, November 14th were issued a dividend of $0.90 per share. The ex-dividend date was Thursday, November 14th. This represents a $3.60 dividend on an annualized basis and a dividend yield of 2.22%. Diamondback Energy’s dividend payout ratio (DPR) is presently 20.61%.

About Diamondback Energy

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.