Envestnet Asset Management Inc. Boosts Holdings in Diamondback Energy, Inc. (NASDAQ:FANG)

Envestnet Asset Management Inc. lifted its holdings in shares of Diamondback Energy, Inc. (NASDAQ:FANG - Free Report) by 13.5% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 658,058 shares of the oil and natural gas company's stock after purchasing an additional 78,360 shares during the period. Envestnet Asset Management Inc. owned 0.22% of Diamondback Energy worth $105,210,000 as of its most recent filing with the SEC.

A number of other hedge funds also recently modified their holdings of FANG. Demars Financial Group LLC acquired a new position in shares of Diamondback Energy during the fourth quarter worth $638,050,000. Alyeska Investment Group L.P. acquired a new position in shares of Diamondback Energy during the fourth quarter valued at about $185,193,000. Price T Rowe Associates Inc. MD raised its holdings in shares of Diamondback Energy by 11.3% during 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 purchasing an additional 928,429 shares during the period. Diamond Hill Capital Management Inc. raised its holdings in shares of Diamondback Energy by 30.5% during 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 purchasing an additional 658,644 shares during the period. Finally, GAMMA Investing LLC raised its holdings in shares of Diamondback Energy by 16,197.8% during the first quarter. GAMMA Investing LLC now owns 605,625 shares of the oil and natural gas company's stock valued at $96,827,000 after purchasing an additional 601,909 shares during the period. Institutional investors and hedge funds own 90.01% of the company's stock.

Insider Activity at Diamondback Energy

In related news, President Hof Matthew Kaes Van't sold 10,000 shares of the company's stock in a transaction that occurred on Monday, May 12th. The shares were sold at an average price of $142.69, for a total transaction of $1,426,900.00. Following the sale, the president directly owned 120,645 shares in the company, valued at approximately $17,214,835.05. This represents a 7.65% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Insiders own 0.70% of the company's stock.

Diamondback Energy Stock Performance

Shares of FANG stock traded up $1.36 during trading on Friday, reaching $144.39. 530,996 shares of the company's stock traded hands, compared to its average volume of 2,284,960. The company has a market capitalization of $42.19 billion, a P/E ratio of 8.82 and a beta of 1.05. 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 firm's 50-day moving average is $140.94 and its 200 day moving average is $149.67. Diamondback Energy, Inc. has a 1 year low of $114.00 and a 1 year high of $214.50.

Diamondback Energy (NASDAQ:FANG - Get Free Report) last announced its quarterly earnings results on Monday, May 5th. The oil and natural gas company reported $4.54 EPS for the quarter, beating analysts' consensus estimates of $3.67 by $0.87. The company had revenue of $4.05 billion for the quarter, compared to analysts' expectations of $3.58 billion. Diamondback Energy had a net margin of 30.84% and a return on equity of 11.22%. Diamondback Energy's revenue was up 81.8% compared to the same quarter last year. During the same period in the prior year, the company posted $4.50 EPS. Equities research analysts expect that Diamondback Energy, Inc. will post 15.49 EPS for the current year.

Diamondback Energy Announces Dividend

The firm also recently declared 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. This represents a $4.00 dividend on an annualized basis and a dividend yield of 2.77%. The ex-dividend date of this dividend was Thursday, May 15th. Diamondback Energy's payout ratio is currently 24.46%.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on FANG. Scotiabank upped their price objective on shares of Diamondback Energy from $175.00 to $180.00 and gave the company a "sector outperform" rating in a report on Friday. Citigroup raised shares of Diamondback Energy from a "reduce" rating to a "buy" rating and boosted their target price for the stock from $157.00 to $180.00 in a research report on Monday, April 7th. JPMorgan Chase & Co. decreased their target price on shares of Diamondback Energy from $167.00 to $161.00 and set an "overweight" rating for the company in a research report on Wednesday, May 7th. Wells Fargo & Company boosted their target price on shares of Diamondback Energy from $207.00 to $208.00 and gave the stock an "overweight" rating in a research report on Monday, June 16th. Finally, KeyCorp decreased their target price on shares of Diamondback Energy from $216.00 to $180.00 and set an "overweight" rating for the company in a research report on Monday, April 21st. Two analysts have rated the stock with a hold rating, nineteen have given a buy rating and two have issued a strong buy rating to the company. According to MarketBeat, Diamondback Energy presently has a consensus rating of "Buy" and an average price target of $193.35.

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.