Sagefield Capital LP Has $31.61 Million Stock Holdings in Diamondback Energy, Inc. (NASDAQ:FANG)

Sagefield Capital LP increased its holdings in Diamondback Energy, Inc. (NASDAQ:FANG - Free Report) by 26.3% in the 4th quarter, according to its most recent filing with the SEC. The institutional investor owned 192,951 shares of the oil and natural gas company's stock after buying an additional 40,129 shares during the quarter. Diamondback Energy comprises approximately 3.5% of Sagefield Capital LP's portfolio, making the stock its 8th biggest position. Sagefield Capital LP owned about 0.07% of Diamondback Energy worth $31,611,000 as of its most recent SEC filing.

Several other hedge funds have also recently made changes to their positions in the stock. Magnolia Capital Advisors LLC grew its position in shares of Diamondback Energy by 2.0% during the fourth quarter. Magnolia Capital Advisors LLC now owns 3,247 shares of the oil and natural gas company's stock valued at $532,000 after purchasing an additional 64 shares in the last quarter. Barden Capital Management Inc. lifted its holdings in shares of Diamondback Energy by 1.5% in the 4th quarter. Barden Capital Management Inc. now owns 4,380 shares of the oil and natural gas company's stock worth $718,000 after acquiring an additional 64 shares during the last quarter. Greenleaf Trust lifted its stake in shares of Diamondback Energy by 1.0% during the 4th quarter. Greenleaf Trust now owns 6,892 shares of the oil and natural gas company's stock worth $1,129,000 after acquiring an additional 66 shares during the last quarter. Buckhead Capital Management LLC boosted its stake in shares of Diamondback Energy by 0.3% during the fourth quarter. Buckhead Capital Management LLC now owns 19,830 shares of the oil and natural gas company's stock valued at $3,249,000 after purchasing an additional 67 shares during the period. Finally, Center For Asset Management LLC lifted its holdings in Diamondback Energy by 3.6% during the 4th quarter. Center For Asset Management LLC now owns 1,976 shares of the oil and natural gas company's stock valued at $324,000 after buying an additional 68 shares in the last quarter. 90.01% of the stock is owned by hedge funds and other institutional investors.

Diamondback Energy Stock Down 0.4%

Shares of FANG traded down $0.61 during mid-day trading on Thursday, hitting $135.70. 806,625 shares of the company's stock were exchanged, compared to its average volume of 2,137,820. The stock has a market cap of $39.65 billion, a price-to-earnings ratio of 7.76, a P/E/G ratio of 1.24 and a beta of 1.06. Diamondback Energy, Inc. has a twelve month low of $114.00 and a twelve month high of $214.50. The firm has a fifty day moving average of $140.68 and a two-hundred day moving average of $157.33. 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 - Get Free Report) last released its earnings results on Monday, May 5th. The oil and natural gas company reported $4.54 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $3.67 by $0.87. The firm had revenue of $4.05 billion for the quarter, compared to analyst estimates of $3.58 billion. Diamondback Energy had a return on equity of 13.68% and a net margin of 33.64%. The company's revenue was up 81.8% on a year-over-year basis. During the same quarter last year, the firm posted $4.50 EPS. On average, sell-side analysts forecast that Diamondback Energy, Inc. will post 15.49 earnings per share for the current year.

Diamondback Energy Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, May 22nd. Shareholders of record on Thursday, May 15th will be issued a dividend of $1.00 per share. The ex-dividend date of this dividend is Thursday, May 15th. This represents a $4.00 dividend on an annualized basis and a dividend yield of 2.95%. Diamondback Energy's payout ratio is presently 24.46%.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on FANG. Morgan Stanley reaffirmed an "overweight" rating on shares of Diamondback Energy in a research report on Tuesday, April 15th. Citigroup upgraded shares of Diamondback Energy from a "reduce" rating to a "buy" rating and lifted their target price for the stock from $157.00 to $180.00 in a research note on Monday, April 7th. Royal Bank of Canada assumed coverage on Diamondback Energy in a research note on Friday, May 2nd. They issued an "outperform" rating and a $180.00 target price for the company. Evercore ISI began coverage on Diamondback Energy in a research report on Tuesday, May 6th. They set an "outperform" rating and a $165.00 price target on the stock. Finally, Bank of America upgraded shares of Diamondback Energy from a "neutral" rating to a "buy" rating and dropped their price target for the company from $202.00 to $170.00 in a research report on Tuesday, April 29th. Two investment 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 stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Buy" and an average target price of $194.09.

Insiders Place Their Bets

In related news, President Hof Matthew Kaes Van't sold 10,000 shares of the stock in a transaction dated Monday, May 12th. The stock was sold at an average price of $142.69, for a total transaction of $1,426,900.00. Following the completion of the transaction, the president now directly owns 120,645 shares in the company, valued at approximately $17,214,835.05. This trade represents a 7.65% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Frank D. Tsuru acquired 2,000 shares of Diamondback Energy stock in a transaction on Friday, February 28th. The shares were bought at an average cost of $156.51 per share, with a total value of $313,020.00. Following the completion of the transaction, the director now owns 5,730 shares of the company's stock, valued at approximately $896,802.30. This trade represents a 53.62% increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders own 0.48% of the company's stock.

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.