Diamondback Energy, Inc. (NASDAQ:FANG) Shares Bought by Oppenheimer Asset Management Inc.

Oppenheimer Asset Management Inc. raised its holdings in Diamondback Energy, Inc. (NASDAQ:FANG - Free Report) by 6.3% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 58,853 shares of the oil and natural gas company's stock after purchasing an additional 3,467 shares during the period. Oppenheimer Asset Management Inc.'s holdings in Diamondback Energy were worth $9,409,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of FANG. Demars Financial Group LLC purchased a new position in shares of Diamondback Energy in the fourth quarter valued at approximately $638,050,000. Raymond James Financial Inc. purchased a new position in shares of Diamondback Energy in the fourth quarter valued at approximately $298,327,000. Alyeska Investment Group L.P. purchased a new position in shares of Diamondback Energy in the fourth quarter valued at approximately $185,193,000. Price T Rowe Associates Inc. MD lifted its position in shares of 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 acquiring an additional 928,429 shares in the last quarter. Finally, Diamond Hill Capital Management Inc. lifted its position in shares of 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 acquiring an additional 658,644 shares in the last quarter. 90.01% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on FANG. Royal Bank Of Canada began coverage on Diamondback Energy in a research report on Friday, May 2nd. They issued an "outperform" rating and a $180.00 target price on the stock. Mizuho decreased their target price on Diamondback Energy from $186.00 to $179.00 and set an "outperform" rating on the stock in a research report on Tuesday, May 13th. Evercore ISI began coverage on Diamondback Energy in a report on Tuesday, May 6th. They issued an "outperform" rating and a $165.00 price target for the company. Scotiabank cut their price target on Diamondback Energy from $215.00 to $175.00 and set a "sector outperform" rating for the company in a report on Friday, April 11th. Finally, Bank of America increased their price target on Diamondback Energy from $165.00 to $170.00 and gave the company a "buy" rating in a report on Friday, May 23rd. Two research analysts have rated the stock with a hold rating, nineteen have assigned a buy rating and two have assigned a strong buy rating to the company's stock. According to data from MarketBeat, Diamondback Energy has a consensus rating of "Buy" and a consensus price target of $193.13.

Insider Activity

In related news, President Hof Matthew Kaes Van't sold 10,000 shares of Diamondback Energy 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 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 document filed with the SEC, which is accessible through this hyperlink. Insiders own 0.48% of the company's stock.

Diamondback Energy Trading Down 5.2%

Shares of NASDAQ FANG opened at $141.15 on Tuesday. Diamondback Energy, Inc. has a twelve month low of $114.00 and a twelve month high of $214.50. 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 fifty day simple moving average of $139.45 and a 200-day simple moving average of $151.29. The stock has a market capitalization of $41.24 billion, a PE ratio of 8.63 and a beta of 1.06.

Diamondback Energy (NASDAQ:FANG - Get Free Report) last issued its quarterly earnings data on Monday, May 5th. The oil and natural gas company reported $4.54 earnings per share for the quarter, beating analysts' consensus estimates of $3.67 by $0.87. Diamondback Energy had a return on equity of 11.22% and a net margin of 30.84%. The business had revenue of $4.05 billion during the quarter, compared to analysts' expectations of $3.58 billion. During the same period in the previous year, the firm posted $4.50 earnings per share. The company's revenue was up 81.8% on a year-over-year basis. On average, equities analysts forecast that Diamondback Energy, Inc. will post 15.49 earnings per share for the current year.

Diamondback Energy Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, May 22nd. Stockholders of record on Thursday, May 15th were paid a $1.00 dividend. 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 presently 24.46%.

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.

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