Two Sigma Investments LP Raises Stock Holdings in Diamondback Energy, Inc. (NASDAQ:FANG)

Two Sigma Investments LP grew its stake in Diamondback Energy, Inc. (NASDAQ:FANG - Free Report) by 5,748.3% in the 4th quarter, according to its most recent filing with the SEC. The firm owned 448,624 shares of the oil and natural gas company's stock after buying an additional 440,953 shares during the quarter. Two Sigma Investments LP owned 0.15% of Diamondback Energy worth $73,498,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also made changes to their positions in FANG. Thomist Capital Management LP purchased a new stake in Diamondback Energy during the fourth quarter worth approximately $1,993,000. Toronto Dominion Bank lifted its stake in Diamondback Energy by 3.9% during the fourth quarter. Toronto Dominion Bank now owns 66,346 shares of the oil and natural gas company's stock worth $10,869,000 after purchasing an additional 2,468 shares during the last quarter. Sagefield Capital LP lifted its stake in Diamondback Energy by 26.3% during the fourth quarter. Sagefield Capital LP now owns 192,951 shares of the oil and natural gas company's stock worth $31,611,000 after purchasing an additional 40,129 shares during the last quarter. Second Line Capital LLC lifted its stake in Diamondback Energy by 25.6% during the fourth quarter. Second Line Capital LLC now owns 17,161 shares of the oil and natural gas company's stock worth $2,812,000 after purchasing an additional 3,493 shares during the last quarter. Finally, Silvercrest Asset Management Group LLC lifted its stake in Diamondback Energy by 9.0% during the fourth quarter. Silvercrest Asset Management Group LLC now owns 19,058 shares of the oil and natural gas company's stock worth $3,122,000 after purchasing an additional 1,576 shares during the last quarter. Hedge funds and other institutional investors own 90.01% of the company's stock.

Diamondback Energy Price Performance

FANG stock traded down $0.43 on Friday, reaching $135.86. 1,766,159 shares of the company's stock were exchanged, compared to its average volume of 2,153,344. The stock has a fifty day moving average of $139.96 and a 200-day moving average of $156.57. Diamondback Energy, Inc. has a twelve month low of $114.00 and a twelve month high of $214.50. The firm has a market cap of $39.69 billion, a PE ratio of 7.78, a P/E/G ratio of 1.24 and a beta of 1.06. The company has a quick ratio of 0.42, a current ratio of 0.45 and a debt-to-equity ratio of 0.31.

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

Diamondback Energy Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, May 22nd. Shareholders of record on Thursday, May 15th were issued a $1.00 dividend. This represents a $4.00 annualized dividend and a yield of 2.94%. The ex-dividend date was Thursday, May 15th. Diamondback Energy's dividend payout ratio (DPR) is 24.46%.

Insider Buying and Selling at Diamondback Energy

In related news, Director Frank D. Tsuru acquired 2,000 shares of Diamondback Energy stock in a transaction dated Friday, February 28th. The shares were acquired at an average cost of $156.51 per share, for a total transaction of $313,020.00. Following the completion of the transaction, the director now directly owns 5,730 shares of the company's stock, valued at $896,802.30. The trade was a 53.62% increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, President Hof Matthew Kaes Van't sold 10,000 shares of the company's stock in a transaction 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 completion of the sale, the president now owns 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 disclosure for this sale can be found here. 0.48% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

FANG has been the subject of a number of research reports. Scotiabank reduced their price objective on Diamondback Energy from $215.00 to $175.00 and set a "sector outperform" rating for the company in a research note on Friday, April 11th. Truist Financial boosted their price objective on Diamondback Energy from $238.00 to $242.00 and gave the company a "buy" rating in a research note on Thursday, April 17th. Piper Sandler reduced their price objective on Diamondback Energy from $234.00 to $225.00 and set an "overweight" rating for the company in a research note on Tuesday, May 13th. Williams Trading set a $190.00 price objective on Diamondback Energy in a research note on Wednesday, March 5th. Finally, Wells Fargo & Company reduced their price objective on Diamondback Energy from $215.00 to $207.00 and set an "overweight" rating for the company in a research note on Monday, April 21st. Two equities research analysts have rated the stock with a hold rating, nineteen have given a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of "Buy" and a consensus target price of $193.09.

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.