Carlson Capital L.P. Invests $475,000 in Diamondback Energy, Inc. (NASDAQ:FANG)

Carlson Capital L.P. purchased a new position in Diamondback Energy, Inc. (NASDAQ:FANG) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 2,900 shares of the oil and natural gas company’s stock, valued at approximately $475,000. Diamondback Energy makes up 0.3% of Carlson Capital L.P.’s investment portfolio, making the stock its 25th biggest holding.

Other institutional investors and hedge funds also recently modified their holdings of the company. R Squared Ltd bought a new position in shares of Diamondback Energy in the fourth quarter worth $29,000. UMB Bank n.a. lifted its holdings in shares of Diamondback Energy by 247.3% in the fourth quarter. UMB Bank n.a. now owns 191 shares of the oil and natural gas company’s stock valued at $31,000 after buying an additional 136 shares during the period. Key Financial Inc lifted its holdings in shares of Diamondback Energy by 940.0% in the fourth quarter. Key Financial Inc now owns 208 shares of the oil and natural gas company’s stock valued at $34,000 after buying an additional 188 shares during the period. Ashton Thomas Securities LLC acquired a new stake in shares of Diamondback Energy in the third quarter valued at $52,000. Finally, Synergy Asset Management LLC acquired a new stake in shares of Diamondback Energy in the fourth quarter valued at $67,000. Institutional investors own 90.01% of the company’s stock.

Diamondback Energy Stock Performance

Shares of FANG stock opened at $152.43 on Thursday. The company has a debt-to-equity ratio of 0.31, a current ratio of 0.45 and a quick ratio of 0.42. Diamondback Energy, Inc. has a fifty-two week low of $151.00 and a fifty-two week high of $214.50. The stock’s 50-day moving average is $165.28 and its two-hundred day moving average is $175.77. The firm has a market cap of $44.51 billion, a P/E ratio of 8.73, a PEG ratio of 1.24 and a beta of 1.86.

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

Diamondback Energy Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, March 13th. Stockholders of record on Thursday, March 6th will be issued a dividend of $1.00 per share. This is a positive change from Diamondback Energy’s previous quarterly dividend of $0.90. The ex-dividend date of this dividend is Thursday, March 6th. This represents a $4.00 dividend on an annualized basis and a dividend yield of 2.62%. Diamondback Energy’s dividend payout ratio is currently 25.32%.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on FANG. Piper Sandler cut their price objective on Diamondback Energy from $252.00 to $232.00 and set an “overweight” rating for the company in a report on Tuesday, December 17th. Morgan Stanley upped their price objective on Diamondback Energy from $220.00 to $227.00 and gave the company an “overweight” rating in a report on Wednesday, February 19th. Royal Bank of Canada restated an “outperform” rating and issued a $210.00 price objective on shares of Diamondback Energy in a report on Thursday, January 23rd. Mizuho upped their price objective on Diamondback Energy from $201.00 to $204.00 and gave the company an “outperform” rating in a report on Tuesday. Finally, The Goldman Sachs Group began coverage on Diamondback Energy in a report on Monday, December 2nd. They set a “buy” rating and a $227.00 target price for the company. Four equities research analysts have rated the stock with a hold rating, eighteen have issued a buy rating and two have given a strong buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $216.09.

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.