Ilmarinen Mutual Pension Insurance Co Purchases 17,500 Shares of Diamondback Energy, Inc. (NASDAQ:FANG)

Ilmarinen Mutual Pension Insurance Co increased its position in Diamondback Energy, Inc. (NASDAQ:FANG) by 87.5% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 37,500 shares of the oil and natural gas company’s stock after purchasing an additional 17,500 shares during the quarter. Ilmarinen Mutual Pension Insurance Co’s holdings in Diamondback Energy were worth $6,144,000 as of its most recent SEC filing.

Other hedge funds have also bought and sold shares of the company. Raymond James Financial Inc. acquired a new stake in shares of Diamondback Energy in the fourth quarter valued at approximately $298,327,000. Assenagon Asset Management S.A. lifted its holdings in Diamondback Energy by 1,153.0% during the 4th quarter. Assenagon Asset Management S.A. now owns 1,132,918 shares of the oil and natural gas company’s stock valued at $185,606,000 after purchasing an additional 1,042,505 shares during the last quarter. Diamond Hill Capital Management Inc. lifted its holdings 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 purchasing an additional 658,644 shares during the last quarter. Boston Partners boosted its position in Diamondback Energy by 12.4% during the fourth quarter. Boston Partners now owns 5,169,742 shares of the oil and natural gas company’s stock worth $849,202,000 after purchasing an additional 571,820 shares during the period. Finally, Zimmer Partners LP acquired a new position in shares of Diamondback Energy in the third quarter valued at $87,924,000. 90.01% of the stock is currently owned by institutional investors and hedge funds.

Diamondback Energy Price Performance

FANG stock opened at $123.37 on Friday. The stock has a market cap of $35.71 billion, a price-to-earnings ratio of 7.06, a P/E/G ratio of 1.24 and a beta of 1.44. 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 company has a 50 day simple moving average of $155.91 and a 200 day simple moving average of $168.89. Diamondback Energy, Inc. has a 1 year low of $123.15 and a 1 year high of $214.50.

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

Diamondback Energy Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, March 13th. Stockholders of record on Thursday, March 6th were issued a dividend of $1.00 per share. 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 3.24%. The ex-dividend date was Thursday, March 6th. Diamondback Energy’s payout ratio is 25.32%.

Insider Activity

In other Diamondback Energy news, Director Frank D. Tsuru bought 2,000 shares of Diamondback Energy stock in a transaction on Friday, February 28th. The shares were purchased at an average cost of $156.51 per share, with a total value of $313,020.00. Following the acquisition, the director now directly owns 5,730 shares of the company’s stock, valued at $896,802.30. The trade was a 53.62 % increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.48% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

Several brokerages recently commented on FANG. Barclays reduced their target price on shares of Diamondback Energy from $210.00 to $200.00 and set an “overweight” rating for the company in a report on Tuesday, March 18th. JPMorgan Chase & Co. lowered their target price on Diamondback Energy from $212.00 to $167.00 and set an “overweight” rating on the stock in a research note on Thursday, March 13th. Wells Fargo & Company reduced their price target on Diamondback Energy from $219.00 to $215.00 and set an “overweight” rating for the company in a research note on Wednesday, March 12th. Truist Financial increased their price objective on Diamondback Energy from $236.00 to $238.00 and gave the stock a “buy” rating in a research report on Wednesday, February 19th. Finally, Mizuho upped their price target on shares of Diamondback Energy from $201.00 to $204.00 and gave the company an “outperform” rating in a research note on Tuesday, February 25th. Four equities research analysts have rated the stock with a hold rating, eighteen have issued a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat, Diamondback Energy currently has a consensus rating of “Moderate Buy” and a consensus target price of $209.33.

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.