Diamondback Energy, Inc. (NASDAQ:FANG) Shares Purchased by Second Line Capital LLC

Second Line Capital LLC lifted its stake in shares of Diamondback Energy, Inc. (NASDAQ:FANG - Free Report) by 25.6% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 17,161 shares of the oil and natural gas company's stock after buying an additional 3,493 shares during the quarter. Second Line Capital LLC's holdings in Diamondback Energy were worth $2,812,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also made changes to their positions in FANG. Demars Financial Group LLC acquired a new position in shares of Diamondback Energy during the fourth quarter worth about $638,050,000. Raymond James Financial Inc. acquired a new position in Diamondback Energy in the fourth quarter valued at approximately $298,327,000. Alyeska Investment Group L.P. acquired a new position in Diamondback Energy in the fourth quarter valued at approximately $185,193,000. Price T Rowe Associates Inc. MD boosted its holdings in Diamondback Energy by 11.3% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 9,136,645 shares of the oil and natural gas company's stock valued at $1,496,859,000 after purchasing an additional 928,429 shares in the last quarter. Finally, Diamond Hill Capital Management Inc. boosted its holdings in Diamondback Energy by 30.5% in the fourth 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 in the last quarter. 90.01% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on FANG shares. Wells Fargo & Company decreased their price objective on Diamondback Energy from $215.00 to $207.00 and set an "overweight" rating for the company in a report on Monday, April 21st. Mizuho decreased their price objective on Diamondback Energy from $186.00 to $179.00 and set an "outperform" rating for the company in a report on Tuesday, May 13th. JPMorgan Chase & Co. decreased their price objective on Diamondback Energy from $167.00 to $161.00 and set an "overweight" rating for the company in a report on Wednesday, May 7th. Susquehanna cut their price target on Diamondback Energy from $219.00 to $194.00 and set a "positive" rating for the company in a research note on Tuesday, April 22nd. Finally, Evercore ISI started coverage on Diamondback Energy in a research note on Tuesday, May 6th. They set an "outperform" rating and a $165.00 price target for the company. Two equities research analysts have rated the stock with a hold rating, nineteen have assigned a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat.com, Diamondback Energy has a consensus rating of "Buy" and a consensus price target of $194.09.

Insider Buying and Selling at Diamondback Energy

In other news, President Hof Matthew Kaes Van't sold 10,000 shares of Diamondback Energy stock in a transaction dated Monday, May 12th. The stock was sold at an average price of $142.69, for a total value of $1,426,900.00. Following the transaction, the president now directly owns 120,645 shares of the company's stock, valued at $17,214,835.05. The trade was a 7.65% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, Director Frank D. Tsuru acquired 2,000 shares of Diamondback Energy stock in a transaction dated Friday, February 28th. The stock was purchased at an average cost of $156.51 per share, for a total transaction of $313,020.00. Following the completion of the purchase, the director now directly owns 5,730 shares in the company, valued at approximately $896,802.30. This represents a 53.62% increase in their ownership of the stock. The disclosure for this purchase can be found here. 0.48% of the stock is owned by company insiders.

Diamondback Energy Price Performance

Shares of FANG traded down $1.09 during trading hours on Thursday, reaching $135.22. 754,427 shares of the company traded hands, compared to its average volume of 2,137,653. The company has a quick ratio of 0.42, a current ratio of 0.45 and a debt-to-equity ratio of 0.31. The stock has a market capitalization of $39.51 billion, a PE ratio of 7.73, a price-to-earnings-growth ratio of 1.24 and a beta of 1.06. Diamondback Energy, Inc. has a fifty-two week low of $114.00 and a fifty-two week high of $214.50. The stock has a fifty day simple moving average of $140.68 and a 200 day simple moving average of $157.33.

Diamondback Energy (NASDAQ:FANG - Get Free Report) last posted its quarterly earnings results on Monday, May 5th. The oil and natural gas company reported $4.54 EPS for the quarter, beating the consensus estimate of $3.67 by $0.87. The company had revenue of $4.05 billion during the quarter, compared to analysts' expectations of $3.58 billion. Diamondback Energy had a return on equity of 13.68% and a net margin of 33.64%. The firm's revenue was up 81.8% on a year-over-year basis. During the same quarter in the previous year, the business earned $4.50 EPS. As a group, research analysts predict that Diamondback Energy, Inc. will post 15.49 EPS for the current fiscal year.

Diamondback Energy Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, May 22nd. Shareholders of record on Thursday, May 15th will be issued a $1.00 dividend. This represents a $4.00 annualized dividend and a yield of 2.96%. The ex-dividend date is Thursday, May 15th. Diamondback Energy's dividend payout ratio (DPR) is 24.46%.

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.