CANADA LIFE ASSURANCE Co Acquires 3,057 Shares of Diamondback Energy, Inc. (NASDAQ:FANG)

CANADA LIFE ASSURANCE Co lifted its holdings in shares of Diamondback Energy, Inc. (NASDAQ:FANG) by 2.5% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 123,249 shares of the oil and natural gas company’s stock after acquiring an additional 3,057 shares during the period. CANADA LIFE ASSURANCE Co’s holdings in Diamondback Energy were worth $20,181,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in the business. Wintrust Investments LLC purchased a new stake in shares of Diamondback Energy in the fourth quarter valued at about $28,000. R Squared Ltd purchased a new stake in Diamondback Energy in the 4th quarter valued at about $29,000. UMB Bank n.a. lifted its position in shares of Diamondback Energy by 247.3% during the 4th quarter. UMB Bank n.a. now owns 191 shares of the oil and natural gas company’s stock worth $31,000 after buying an additional 136 shares in the last quarter. Key Financial Inc boosted its stake in shares of Diamondback Energy by 940.0% in the 4th quarter. Key Financial Inc now owns 208 shares of the oil and natural gas company’s stock worth $34,000 after buying an additional 188 shares during the last quarter. Finally, Rakuten Securities Inc. grew its position in shares of Diamondback Energy by 62.4% during the 4th quarter. Rakuten Securities Inc. now owns 276 shares of the oil and natural gas company’s stock valued at $45,000 after acquiring an additional 106 shares during the period. Institutional investors and hedge funds own 90.01% of the company’s stock.

Diamondback Energy Price Performance

FANG stock opened at $137.64 on Monday. The company has a debt-to-equity ratio of 0.31, a quick ratio of 0.42 and a current ratio of 0.45. The firm has a market cap of $40.48 billion, a P/E ratio of 7.88, a P/E/G ratio of 1.24 and a beta of 1.44. The firm’s fifty day moving average is $147.14 and its 200 day moving average is $164.65. Diamondback Energy, Inc. has a 52 week low of $114.00 and a 52 week high of $214.50.

Diamondback Energy (NASDAQ:FANG) last released 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. Diamondback Energy had a return on equity of 13.68% and a net margin of 33.64%. The firm had revenue of $3.71 billion during the quarter, compared to analyst estimates of $3.55 billion. Research analysts predict that Diamondback Energy, Inc. will post 15.49 earnings per share for the current year.

Diamondback Energy Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, March 13th. Stockholders of record on Thursday, March 6th were paid a dividend of $1.00 per share. This represents a $4.00 annualized dividend and a dividend yield of 2.91%. This is an increase from Diamondback Energy’s previous quarterly dividend of $0.90. The ex-dividend date of this dividend was Thursday, March 6th. Diamondback Energy’s dividend payout ratio is 25.32%.

Analysts Set New Price Targets

FANG has been the topic of a number of research reports. UBS Group lowered their price target on shares of Diamondback Energy from $175.00 to $163.00 and set a “buy” rating on the stock in a report on Thursday. Wolfe Research upgraded Diamondback Energy from a “peer perform” rating to an “outperform” rating and set a $190.00 target price on the stock in a research note on Friday, January 3rd. Raymond James cut their price target on Diamondback Energy from $245.00 to $214.00 and set a “strong-buy” rating for the company in a research note on Wednesday, March 12th. Citigroup upgraded Diamondback Energy from a “reduce” rating to a “buy” rating and boosted their price objective for the company from $157.00 to $180.00 in a research note on Monday, April 7th. Finally, Morgan Stanley reiterated an “overweight” rating on shares of Diamondback Energy in a research report on Tuesday, April 15th. Three research analysts have rated the stock with a hold rating, nineteen have issued a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $206.13.

Insider Transactions at Diamondback Energy

In other Diamondback Energy news, Director Frank D. Tsuru purchased 2,000 shares of the stock in a transaction on Friday, February 28th. The stock was acquired 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 position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. 0.48% of the stock is currently owned by company insiders.

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.