Diamondback Energy, Inc. (NASDAQ:FANG) Shares Bought by Toronto Dominion Bank

Toronto Dominion Bank grew its holdings in Diamondback Energy, Inc. (NASDAQ:FANG - Free Report) by 3.9% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 66,346 shares of the oil and natural gas company's stock after purchasing an additional 2,468 shares during the quarter. Toronto Dominion Bank's holdings in Diamondback Energy were worth $10,869,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of FANG. Wealthcare Advisory Partners LLC bought a new position in Diamondback Energy in the fourth quarter worth approximately $312,000. Merit Financial Group LLC raised its position in shares of Diamondback Energy by 18.0% in the 4th quarter. Merit Financial Group LLC now owns 2,315 shares of the oil and natural gas company's stock worth $379,000 after acquiring an additional 353 shares in the last quarter. HB Wealth Management LLC raised its position in shares of Diamondback Energy by 22.7% in the 4th quarter. HB Wealth Management LLC now owns 4,036 shares of the oil and natural gas company's stock worth $661,000 after acquiring an additional 747 shares in the last quarter. Diversify Advisory Services LLC bought a new stake in Diamondback Energy during the fourth quarter valued at about $384,000. Finally, UMB Bank n.a. grew its stake in Diamondback Energy by 247.3% in the fourth quarter. UMB Bank n.a. now owns 191 shares of the oil and natural gas company's stock valued at $31,000 after purchasing an additional 136 shares during the last quarter. Institutional investors own 90.01% of the company's stock.

Insiders Place Their Bets

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 stock was sold at an average price of $142.69, for a total transaction of $1,426,900.00. Following the completion of the transaction, the president now owns 120,645 shares of the company's stock, valued at $17,214,835.05. This represents a 7.65% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Frank D. Tsuru purchased 2,000 shares of the stock in a transaction dated Friday, February 28th. The stock was purchased at an average cost of $156.51 per share, for a total transaction of $313,020.00. Following the completion of the purchase, the director now directly owns 5,730 shares of the company's stock, valued at approximately $896,802.30. The trade was a 53.62% increase in their ownership of the stock. The disclosure for this purchase can be found here. 0.48% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

FANG has been the subject of several analyst reports. Citigroup raised shares of Diamondback Energy from a "reduce" rating to a "buy" rating and increased their price target for the company from $157.00 to $180.00 in a research report on Monday, April 7th. Evercore ISI started coverage on shares of Diamondback Energy in a research note on Tuesday, May 6th. They issued an "outperform" rating and a $165.00 target price for the company. UBS Group dropped their price target on Diamondback Energy from $175.00 to $163.00 and set a "buy" rating on the stock in a research note on Thursday, April 17th. Susquehanna lowered 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. Finally, Bank of America upped their price target on shares of Diamondback Energy from $165.00 to $170.00 and gave the company a "buy" rating in a research note on Friday. Two investment analysts have rated the stock with a hold rating, nineteen have issued a buy rating and two have given a strong buy rating to the company's stock. Based on data from MarketBeat.com, Diamondback Energy currently has an average rating of "Buy" and a consensus price target of $193.09.

Diamondback Energy Price Performance

Shares of Diamondback Energy stock traded down $0.43 during trading hours on Friday, reaching $135.86. The stock had a trading volume of 1,766,159 shares, compared to its average volume of 2,147,484. The stock's 50 day moving average is $140.34 and its 200 day moving average is $157.03. The company has a current ratio of 0.45, a quick ratio of 0.42 and a debt-to-equity ratio of 0.31. Diamondback Energy, Inc. has a twelve month low of $114.00 and a twelve month high of $214.50. The firm has a market capitalization of $39.69 billion, a PE ratio of 7.78, a PEG ratio of 1.24 and a beta of 1.06.

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 analysts' consensus estimates of $3.67 by $0.87. The company had revenue of $4.05 billion during the quarter, compared to analysts' expectations of $3.58 billion. Diamondback Energy had a return on equity of 13.68% and a net margin of 33.64%. Diamondback Energy's quarterly revenue was up 81.8% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $4.50 EPS. Equities analysts expect that Diamondback Energy, Inc. will post 15.49 earnings per share for the current fiscal year.

Diamondback Energy Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, May 22nd. Investors 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 of this dividend was Thursday, May 15th. 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.