Aigen Investment Management LP Reduces Stock Position in Diamondback Energy, Inc. (NASDAQ:FANG)

Aigen Investment Management LP lessened its position in Diamondback Energy, Inc. (NASDAQ:FANG) by 20.5% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 1,385 shares of the oil and natural gas company’s stock after selling 358 shares during the period. Aigen Investment Management LP’s holdings in Diamondback Energy were worth $227,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently modified their holdings of the company. R Squared Ltd bought a new stake in shares of Diamondback Energy in the fourth quarter worth about $29,000. UMB Bank n.a. lifted its holdings in Diamondback Energy by 247.3% in 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 during the period. Key Financial Inc grew its position 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. Ashton Thomas Securities LLC purchased a new position in shares of Diamondback Energy during the third quarter valued at approximately $52,000. Finally, Smithfield Trust Co raised its holdings in shares of Diamondback Energy by 37.8% during the fourth quarter. Smithfield Trust Co now owns 310 shares of the oil and natural gas company’s stock valued at $50,000 after acquiring an additional 85 shares in the last quarter. Hedge funds and other institutional investors own 90.01% of the company’s stock.

Diamondback Energy Price Performance

Shares of FANG opened at $140.11 on Monday. Diamondback Energy, Inc. has a twelve month low of $138.94 and a twelve month high of $214.50. The company has a market capitalization of $40.55 billion, a P/E ratio of 8.02, a price-to-earnings-growth ratio of 1.24 and a beta of 1.85. The firm has a 50 day moving average of $163.97 and a 200 day moving average of $173.26. The company has a quick ratio of 0.42, a current ratio of 0.45 and a debt-to-equity ratio of 0.31.

Diamondback Energy (NASDAQ:FANG) last posted its earnings results on Tuesday, February 25th. The oil and natural gas company reported $3.64 EPS for the quarter, topping 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 business had revenue of $3.71 billion during the quarter, compared to analyst estimates of $3.55 billion. As a group, equities research analysts anticipate that Diamondback Energy, Inc. will post 15.49 earnings per share for the current fiscal year.

Diamondback Energy Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, March 13th. Shareholders of record on Thursday, March 6th will be given a $1.00 dividend. This is a positive change from Diamondback Energy’s previous quarterly dividend of $0.90. The ex-dividend date is Thursday, March 6th. This represents a $4.00 dividend on an annualized basis and a yield of 2.85%. Diamondback Energy’s payout ratio is 25.32%.

Insider Buying and Selling at Diamondback Energy

In related news, Director Frank D. Tsuru bought 2,000 shares of the company’s stock in a transaction that occurred on Friday, February 28th. The shares were bought at an average price of $156.51 per share, for a total transaction of $313,020.00. Following the completion of the acquisition, the director now owns 5,730 shares of the company’s stock, valued at $896,802.30. This trade represents a 53.62 % increase in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Company insiders own 0.48% of the company’s stock.

Wall Street Analysts Forecast Growth

FANG has been the topic of several recent analyst reports. Piper Sandler cut their price target on shares of Diamondback Energy from $252.00 to $232.00 and set an “overweight” rating on the stock in a report on Tuesday, December 17th. StockNews.com raised shares of Diamondback Energy from a “sell” rating to a “hold” rating in a research note on Wednesday, November 13th. JPMorgan Chase & Co. increased their price target on shares of Diamondback Energy from $191.00 to $195.00 and gave the stock an “overweight” rating in a research note on Friday, January 17th. UBS Group lifted their price objective on Diamondback Energy from $212.00 to $216.00 and gave the company a “buy” rating in a research report on Thursday, February 13th. Finally, Morgan Stanley upped their target price on Diamondback Energy from $220.00 to $227.00 and gave the stock an “overweight” rating in a report on Wednesday, February 19th. Four investment analysts have rated the stock with a hold rating, eighteen have given a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, Diamondback Energy has a consensus rating of “Moderate Buy” and an average target price of $216.09.

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.