Envestnet Asset Management Inc. Buys 78,360 Shares of Diamondback Energy, Inc. (NASDAQ:FANG)

Envestnet Asset Management Inc. increased its position 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 disclosure with the Securities and Exchange Commission. 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 about 0.22% of Diamondback Energy worth $105,210,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of FANG. Robeco Institutional Asset Management B.V. boosted its position in shares of Diamondback Energy by 4.0% during the 1st quarter. Robeco Institutional Asset Management B.V. now owns 36,177 shares of the oil and natural gas company's stock valued at $5,784,000 after acquiring an additional 1,384 shares in the last quarter. Oppenheimer Asset Management Inc. raised its holdings in shares of Diamondback Energy by 6.3% in the 1st quarter. Oppenheimer Asset Management Inc. now owns 58,853 shares of the oil and natural gas company's stock worth $9,409,000 after buying an additional 3,467 shares in the last quarter. SevenBridge Financial Group LLC lifted its position in shares of Diamondback Energy by 10.8% during the 4th quarter. SevenBridge Financial Group LLC now owns 20,388 shares of the oil and natural gas company's stock worth $3,303,000 after buying an additional 1,990 shares during the period. Headlands Technologies LLC boosted its stake in Diamondback Energy by 49.7% in the 4th quarter. Headlands Technologies LLC now owns 9,816 shares of the oil and natural gas company's stock valued at $1,608,000 after buying an additional 3,261 shares in the last quarter. Finally, Summit Global Investments grew its position in Diamondback Energy by 325.7% in the fourth quarter. Summit Global Investments now owns 4,998 shares of the oil and natural gas company's stock valued at $819,000 after acquiring an additional 3,824 shares during the period. 90.01% of the stock is currently owned by institutional investors and hedge funds.

Diamondback Energy Stock Up 0.6%

NASDAQ:FANG traded up $0.91 during mid-day trading on Thursday, hitting $143.03. 1,793,288 shares of the company's stock were exchanged, compared to its average volume of 2,286,583. The company has a market cap of $41.79 billion, a PE ratio of 8.75 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 one year low of $114.00 and a one year high of $214.50. The business has a fifty day moving average price of $140.77 and a 200 day moving average price of $149.76.

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

Diamondback Energy Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, May 22nd. Investors 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 dividend on an annualized basis and a yield of 2.80%. Diamondback Energy's payout ratio is currently 24.46%.

Analyst Upgrades and Downgrades

Several analysts have weighed in on the stock. Scotiabank decreased their price objective on shares of Diamondback Energy from $215.00 to $175.00 and set a "sector outperform" rating on the stock in a research note on Friday, April 11th. Wells Fargo & Company raised their price objective on shares of Diamondback Energy from $207.00 to $208.00 and gave the company an "overweight" rating in a research note on Monday, June 16th. Susquehanna decreased their price objective on shares of Diamondback Energy from $219.00 to $194.00 and set a "positive" rating for the company in a report on Tuesday, April 22nd. JPMorgan Chase & Co. reduced their target price on Diamondback Energy from $167.00 to $161.00 and set an "overweight" rating on the stock in a report on Wednesday, May 7th. Finally, Bank of America lifted their price objective on Diamondback Energy from $165.00 to $170.00 and gave the company a "buy" rating in a report on Friday, May 23rd. Two equities research analysts have rated the stock with a hold rating, nineteen have issued a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of "Buy" and a consensus price target of $193.13.

Insider Transactions at Diamondback Energy

In other Diamondback Energy 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 sale, the president owned 120,645 shares of the company's stock, valued at approximately $17,214,835.05. This trade represents a 7.65% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 0.70% of the company's stock.

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.