Buckhead Capital Management LLC Boosts Stake in Diamondback Energy, Inc. (NASDAQ:FANG)

Buckhead Capital Management LLC boosted its stake in Diamondback Energy, Inc. (NASDAQ:FANG - Free Report) by 14.9% in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 22,785 shares of the oil and natural gas company's stock after buying an additional 2,955 shares during the period. Buckhead Capital Management LLC's holdings in Diamondback Energy were worth $3,643,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. Demars Financial Group LLC acquired a new position in shares of Diamondback Energy during the 4th quarter worth about $638,050,000. Alyeska Investment Group L.P. acquired a new stake in shares of Diamondback Energy in the 4th quarter valued at $185,193,000. Price T Rowe Associates Inc. MD grew its position in Diamondback Energy by 11.3% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 9,136,645 shares of the oil and natural gas company's stock worth $1,496,859,000 after acquiring an additional 928,429 shares during the last quarter. GAMMA Investing LLC grew its holdings in Diamondback Energy by 16,197.8% during the 1st quarter. GAMMA Investing LLC now owns 605,625 shares of the oil and natural gas company's stock worth $96,827,000 after acquiring an additional 601,909 shares during the last quarter. Finally, Artisan Partners Limited Partnership boosted its position in Diamondback Energy by 33,693.9% in the 4th quarter. Artisan Partners Limited Partnership now owns 457,908 shares of the oil and natural gas company's stock valued at $75,019,000 after buying an additional 456,553 shares during the last quarter. 90.01% of the stock is owned by hedge funds and other institutional investors.

Diamondback Energy Price Performance

Diamondback Energy stock traded down $0.83 during trading on Monday, reaching $140.54. The company had a trading volume of 605,558 shares, compared to its average volume of 2,308,412. The company has a debt-to-equity ratio of 0.31, a quick ratio of 0.83 and a current ratio of 0.86. The firm's 50-day simple moving average is $141.68 and its 200 day simple moving average is $148.66. The firm has a market capitalization of $41.06 billion, a PE ratio of 8.59 and a beta of 1.05. Diamondback Energy, Inc. has a 1-year low of $114.00 and a 1-year high of $205.74.

Diamondback Energy (NASDAQ:FANG - Get Free Report) last released its quarterly earnings results on Monday, May 5th. The oil and natural gas company reported $4.54 earnings per share for the quarter, topping the consensus estimate of $3.67 by $0.87. Diamondback Energy had a return on equity of 11.22% and a net margin of 30.84%. The company had revenue of $4.05 billion during the quarter, compared to the consensus estimate of $3.58 billion. During the same quarter last year, the business posted $4.50 earnings per share. Diamondback Energy's revenue was up 81.8% compared to the same quarter last year. 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 Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, May 22nd. Shareholders of record on Thursday, May 15th were paid a dividend of $1.00 per share. The ex-dividend date was Thursday, May 15th. This represents a $4.00 annualized dividend and a yield of 2.85%. Diamondback Energy's dividend payout ratio is 24.46%.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on FANG. JPMorgan Chase & Co. reduced their price objective on shares of Diamondback Energy from $167.00 to $161.00 and set an "overweight" rating for the company in a research report on Wednesday, May 7th. Bank of America raised their target price on shares of Diamondback Energy from $165.00 to $170.00 and gave the stock a "buy" rating in a report on Friday, May 23rd. Scotiabank reiterated an "outperform" rating on shares of Diamondback Energy in a research note on Friday, July 11th. Royal Bank Of Canada began coverage on shares of Diamondback Energy in a report on Friday, May 2nd. They issued an "outperform" rating and a $180.00 price objective on the stock. Finally, Susquehanna cut their target price on shares of Diamondback Energy from $219.00 to $194.00 and set a "positive" rating for the company in a research note on Tuesday, April 22nd. Two research analysts have rated the stock with a hold rating, eighteen have assigned a buy rating and two have assigned a strong buy rating to the company's stock. According to MarketBeat, Diamondback Energy currently has an average rating of "Buy" and a consensus target price of $191.55.

Insider Transactions at Diamondback Energy

In related news, President Hof Matthew Kaes Van't sold 10,000 shares of the stock in a transaction on 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 sale, the president owned 120,645 shares in the company, valued at approximately $17,214,835.05. This represents a 7.65% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.48% of the company's stock.

Diamondback Energy Company 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.