Diamondback Energy, Inc. (NASDAQ:FANG) Holdings Increased by Forum Financial Management LP

Forum Financial Management LP lifted its position in shares of Diamondback Energy, Inc. (NASDAQ:FANG - Free Report) by 64.8% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 4,960 shares of the oil and natural gas company's stock after buying an additional 1,951 shares during the period. Forum Financial Management LP's holdings in Diamondback Energy were worth $813,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also recently made changes to their positions in the company. Demars Financial Group LLC acquired a new position in shares of Diamondback Energy during the fourth quarter worth about $638,050,000. Raymond James Financial Inc. purchased a new position in shares of Diamondback Energy during the fourth quarter valued at approximately $298,327,000. Alyeska Investment Group L.P. purchased a new position in shares of Diamondback Energy during the fourth quarter valued at approximately $185,193,000. Price T Rowe Associates Inc. MD increased its position in 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 worth $1,496,859,000 after purchasing an additional 928,429 shares during the last quarter. Finally, Diamond Hill Capital Management Inc. increased its position in 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 worth $461,600,000 after purchasing an additional 658,644 shares during the last quarter. Hedge funds and other institutional investors own 90.01% of the company's stock.

Insider Buying and Selling

In related news, President Hof Matthew Kaes Van't sold 10,000 shares of the stock in a transaction dated 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 sale, the president now owns 120,645 shares of the company's stock, valued at $17,214,835.05. This trade represents a 7.65% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 0.70% of the company's stock.

Analysts Set New Price Targets

FANG has been the subject of several recent research reports. Royal Bank of Canada started coverage on shares of Diamondback Energy in a research report on Friday, May 2nd. They issued an "outperform" rating and a $180.00 price objective for the company. Evercore ISI started coverage on shares of Diamondback Energy in a report on Tuesday, May 6th. They set an "outperform" rating and a $165.00 price target for the company. Morgan Stanley lowered their price target on shares of Diamondback Energy from $186.00 to $183.00 and set an "overweight" rating for the company in a report on Friday, May 23rd. KeyCorp lowered their price target on shares of Diamondback Energy from $216.00 to $180.00 and set an "overweight" rating for the company in a report on Monday, April 21st. Finally, Barclays lowered their price target on shares of Diamondback Energy from $200.00 to $185.00 and set an "overweight" rating for the company in a report on Wednesday, April 23rd. Two equities research 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. According to MarketBeat, the company has a consensus rating of "Buy" and an average price target of $193.09.

Diamondback Energy Stock Performance

Shares of FANG stock traded down $2.88 during trading hours on Friday, reaching $134.93. The stock had a trading volume of 725,979 shares, compared to its average volume of 2,151,038. The company has a debt-to-equity ratio of 0.31, a current ratio of 0.45 and a quick ratio of 0.42. Diamondback Energy, Inc. has a twelve month low of $114.00 and a twelve month high of $214.50. The firm has a 50-day simple moving average of $138.19 and a 200-day simple moving average of $155.52. The firm has a market capitalization of $39.42 billion, a PE ratio of 7.73, a price-to-earnings-growth ratio of 1.24 and a beta of 1.06.

Diamondback Energy (NASDAQ:FANG - Get Free Report) last released 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 net margin of 33.64% and a return on equity of 13.68%. The business had revenue of $4.05 billion for the quarter, compared to analysts' expectations of $3.58 billion. During the same quarter last year, the company earned $4.50 EPS. The company's revenue for the quarter was up 81.8% compared to the same quarter last year. As a group, equities analysts forecast that Diamondback Energy, Inc. will post 15.49 earnings per share for the current year.

Diamondback Energy Announces Dividend

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 dividend yield of 2.96%. Diamondback Energy's dividend payout ratio (DPR) 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.