Diamond Hill Capital Management Inc. Grows Stock Holdings in Diamondback Energy, Inc. (NASDAQ:FANG)

Diamond Hill Capital Management Inc. lifted its stake in shares of Diamondback Energy, Inc. (NASDAQ:FANG - Free Report) by 4.1% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,932,484 shares of the oil and natural gas company's stock after acquiring an additional 114,930 shares during the quarter. Diamondback Energy makes up 2.1% of Diamond Hill Capital Management Inc.'s holdings, making the stock its 13th biggest holding. Diamond Hill Capital Management Inc. owned about 1.00% of Diamondback Energy worth $468,846,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently made changes to their positions in the stock. Investor s Fiduciary Advisor Network LLC raised its holdings in shares of Diamondback Energy by 2.1% in the 1st quarter. Investor s Fiduciary Advisor Network LLC now owns 3,559 shares of the oil and natural gas company's stock worth $569,000 after purchasing an additional 74 shares during the period. Grove Bank & Trust raised its holdings in shares of Diamondback Energy by 65.0% in the 1st quarter. Grove Bank & Trust now owns 203 shares of the oil and natural gas company's stock worth $32,000 after purchasing an additional 80 shares during the period. Rehmann Capital Advisory Group raised its holdings in shares of Diamondback Energy by 6.0% in the 4th quarter. Rehmann Capital Advisory Group now owns 1,439 shares of the oil and natural gas company's stock worth $236,000 after purchasing an additional 82 shares during the period. Catalyst Capital Advisors LLC raised its holdings in shares of Diamondback Energy by 60.9% in the 1st quarter. Catalyst Capital Advisors LLC now owns 222 shares of the oil and natural gas company's stock worth $35,000 after purchasing an additional 84 shares during the period. Finally, Center for Financial Planning Inc. raised its holdings in shares of Diamondback Energy by 6.4% in the 1st quarter. Center for Financial Planning Inc. now owns 1,449 shares of the oil and natural gas company's stock worth $232,000 after purchasing an additional 87 shares during the period. 90.01% of the stock is currently owned by institutional investors.

Diamondback Energy Price Performance

NASDAQ FANG traded down $0.69 on Friday, reaching $144.61. 1,035,613 shares of the company's stock traded hands, compared to its average volume of 1,775,078. The stock has a market cap of $42.25 billion, a PE ratio of 8.84 and a beta of 1.05. The company has a debt-to-equity ratio of 0.31, a current ratio of 0.86 and a quick ratio of 0.83. Diamondback Energy, Inc. has a 12 month low of $114.00 and a 12 month high of $203.98. The stock has a 50-day simple moving average of $141.65 and a 200 day simple moving average of $147.84.

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 EPS for the quarter, beating the consensus estimate of $3.67 by $0.87. The company had revenue of $4.05 billion for the quarter, compared to analyst estimates of $3.58 billion. Diamondback Energy had a net margin of 30.84% and a return on equity of 11.22%. The firm's quarterly revenue was up 81.8% compared to the same quarter last year. During the same quarter last year, the firm earned $4.50 EPS. As a group, research analysts predict that Diamondback Energy, Inc. will post 15.49 earnings per share for the current year.

Diamondback Energy Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, May 22nd. Stockholders of record on Thursday, May 15th were issued a $1.00 dividend. The ex-dividend date of this dividend was Thursday, May 15th. This represents a $4.00 annualized dividend and a dividend yield of 2.77%. Diamondback Energy's dividend payout ratio is currently 24.46%.

Insider Buying and Selling at Diamondback Energy

In related news, President Hof Matthew Kaes Van't sold 10,000 shares of the firm's stock in a transaction that occurred on 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 transaction, the president directly owned 120,645 shares in the company, valued at $17,214,835.05. This trade represents a 7.65% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 0.70% of the company's stock.

Analysts Set New Price Targets

FANG has been the topic of a number of research reports. Raymond James Financial lifted their price target on shares of Diamondback Energy from $204.00 to $221.00 and gave the stock a "strong-buy" rating in a report on Tuesday, July 22nd. Morgan Stanley reaffirmed an "overweight" rating on shares of Diamondback Energy in a report on Tuesday, July 15th. Mizuho reduced their price objective on shares of Diamondback Energy from $186.00 to $179.00 and set an "outperform" rating for the company in a research note on Tuesday, May 13th. Bank of America lifted their price objective on shares of Diamondback Energy from $165.00 to $170.00 and gave the company a "buy" rating in a research note on Friday, May 23rd. Finally, Royal Bank Of Canada began coverage on shares of Diamondback Energy in a research note on Friday, May 2nd. They issued an "outperform" rating and a $180.00 price objective for the company. Two research analysts have rated the stock with a hold rating, eighteen have given a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of "Buy" and a consensus price target of $191.59.

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.