Jennison Associates LLC lessened its holdings in Diamondback Energy, Inc. (NASDAQ:FANG - Free Report) by 12.7% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 162,263 shares of the oil and natural gas company's stock after selling 23,690 shares during the quarter. Jennison Associates LLC owned about 0.06% of Diamondback Energy worth $25,943,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors also recently bought and sold shares of the business. Price T Rowe Associates Inc. MD increased its holdings in Diamondback Energy by 11.3% in 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 buying an additional 928,429 shares during the period. Geode Capital Management LLC grew its stake in Diamondback Energy by 2.0% in the 4th quarter. Geode Capital Management LLC now owns 4,710,165 shares of the oil and natural gas company's stock valued at $769,706,000 after acquiring an additional 91,605 shares during the period. Bank of New York Mellon Corp grew its stake in Diamondback Energy by 2.3% in the 1st quarter. Bank of New York Mellon Corp now owns 4,257,247 shares of the oil and natural gas company's stock valued at $680,649,000 after acquiring an additional 94,177 shares during the period. Demars Financial Group LLC grew its stake in Diamondback Energy by 5.3% in the 1st quarter. Demars Financial Group LLC now owns 4,102,785 shares of the oil and natural gas company's stock valued at $655,953,000 after acquiring an additional 208,200 shares during the period. Finally, Invesco Ltd. lifted its holdings in Diamondback Energy by 12.6% in the 4th quarter. Invesco Ltd. now owns 3,086,468 shares of the oil and natural gas company's stock valued at $505,656,000 after purchasing an additional 345,353 shares in the last quarter. Institutional investors and hedge funds own 90.01% of the company's stock.
Diamondback Energy Trading Up 0.3%
NASDAQ FANG traded up $0.44 during trading hours on Friday, reaching $141.37. The company had a trading volume of 2,388,427 shares, compared to its average volume of 2,315,146. The stock has a market capitalization of $41.30 billion, a P/E ratio of 8.65 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. The company has a current ratio of 0.86, a quick ratio of 0.83 and a debt-to-equity ratio of 0.31. The stock has a 50-day moving average of $141.68 and a 200 day moving average of $148.78.
Diamondback Energy (NASDAQ:FANG - Get Free Report) last posted its quarterly earnings data 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. Diamondback Energy had a net margin of 30.84% and a return on equity of 11.22%. The business had revenue of $4.05 billion during the quarter, compared to analyst estimates of $3.58 billion. During the same quarter last year, the firm posted $4.50 earnings per share. The business's revenue for the quarter was up 81.8% compared to the same quarter last year. As a group, research analysts anticipate that Diamondback Energy, Inc. will post 15.49 earnings per share for the current fiscal year.
Diamondback Energy Dividend Announcement
The company also recently announced a quarterly dividend, which was paid on Thursday, May 22nd. Investors 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 dividend on an annualized basis and a dividend yield of 2.83%. Diamondback Energy's payout ratio is 24.46%.
Wall Street Analysts Forecast Growth
A number of research analysts have weighed in on FANG shares. Susquehanna decreased their price objective on Diamondback Energy from $219.00 to $194.00 and set a "positive" rating on the stock in a report on Tuesday, April 22nd. Royal Bank Of Canada started coverage on Diamondback Energy in a report on Friday, May 2nd. They issued an "outperform" rating and a $180.00 price objective on the stock. KeyCorp decreased their price objective on Diamondback Energy from $216.00 to $180.00 and set an "overweight" rating on the stock in a report on Monday, April 21st. Barclays decreased their price objective on Diamondback Energy from $200.00 to $185.00 and set an "overweight" rating on the stock in a report on Wednesday, April 23rd. Finally, UBS Group lowered their price target on shares of Diamondback Energy from $175.00 to $163.00 and set a "buy" rating on the stock in a research report on Thursday, April 17th. Two investment analysts have rated the stock with a hold rating, eighteen have issued a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of "Buy" and a consensus price target of $191.55.
Get Our Latest Analysis on Diamondback Energy
Insider Buying and Selling
In other Diamondback Energy news, President Hof Matthew Kaes Van't sold 10,000 shares of the stock in a transaction that occurred on Monday, May 12th. The shares were sold at an average price of $142.69, for a total value of $1,426,900.00. Following the transaction, the president directly owned 120,645 shares in the company, valued at $17,214,835.05. This represents a 7.65% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.70% of the stock is owned by corporate insiders.
Diamondback Energy Company Profile
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Free Report)
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.
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