Gotham Asset Management LLC Sells 63,575 Shares of Diamondback Energy, Inc. (NASDAQ:FANG)

Gotham Asset Management LLC decreased its stake in shares of Diamondback Energy, Inc. (NASDAQ:FANG - Free Report) by 98.0% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,272 shares of the oil and natural gas company's stock after selling 63,575 shares during the period. Gotham Asset Management LLC's holdings in Diamondback Energy were worth $208,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Price T Rowe Associates Inc. MD raised its stake in shares of Diamondback Energy by 11.3% during the 4th 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 in the last quarter. Boston Partners increased its stake in shares of Diamondback Energy by 12.4% during the 4th quarter. Boston Partners now owns 5,169,742 shares of the oil and natural gas company's stock worth $849,202,000 after purchasing an additional 571,820 shares during the last quarter. Geode Capital Management LLC increased its stake in shares of Diamondback Energy by 2.0% during the 4th quarter. Geode Capital Management LLC now owns 4,710,165 shares of the oil and natural gas company's stock worth $769,706,000 after purchasing an additional 91,605 shares during the last quarter. Bank of New York Mellon Corp raised its holdings in shares of Diamondback Energy by 13.7% in the 4th quarter. Bank of New York Mellon Corp now owns 4,163,070 shares of the oil and natural gas company's stock valued at $682,036,000 after purchasing an additional 502,916 shares during the period. Finally, Demars Financial Group LLC acquired a new stake in Diamondback Energy in the 4th quarter valued at about $638,050,000. 90.01% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

FANG has been the topic of several research analyst reports. Scotiabank dropped their price objective on 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. Williams Trading set a $190.00 price target on Diamondback Energy in a research note on Wednesday, March 5th. Piper Sandler cut their price target on Diamondback Energy from $234.00 to $225.00 and set an "overweight" rating for the company in a report on Tuesday, May 13th. Royal Bank of Canada started coverage on shares of Diamondback Energy in a report on Friday, May 2nd. They issued an "outperform" rating and a $180.00 price objective on the stock. Finally, Citigroup upgraded Diamondback Energy from a "reduce" rating to a "buy" rating and increased their target price for the stock from $157.00 to $180.00 in a research note on Monday, April 7th. Two equities research analysts have rated the stock with a hold rating, nineteen have assigned a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat, Diamondback Energy presently has an average rating of "Buy" and an average price target of $193.09.

Diamondback Energy Price Performance

NASDAQ:FANG traded up $0.72 on Tuesday, hitting $136.58. The company had a trading volume of 275,116 shares, compared to its average volume of 2,146,009. The firm has a 50 day moving average of $139.52 and a two-hundred day moving average of $156.07. The stock has a market capitalization of $39.90 billion, a price-to-earnings ratio of 7.83, a PEG ratio of 1.24 and a beta of 1.06. 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 52 week low of $114.00 and a 52 week high of $214.50.

Diamondback Energy (NASDAQ:FANG - Get Free Report) last posted its earnings results on Monday, May 5th. The oil and natural gas company reported $4.54 EPS for the quarter, topping the consensus estimate 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 the consensus estimate of $3.58 billion. During the same period last year, the company earned $4.50 EPS. The firm's revenue was up 81.8% compared to the same quarter last year. On average, research analysts anticipate that Diamondback Energy, Inc. will post 15.49 earnings per share for the current year.

Diamondback Energy Announces Dividend

The business 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 was Thursday, May 15th. This represents a $4.00 dividend on an annualized basis and a yield of 2.93%. Diamondback Energy's payout ratio is 24.46%.

Insider Buying and Selling

In other Diamondback Energy news, Director Frank D. Tsuru purchased 2,000 shares of the firm's stock in a transaction on 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 acquisition, the director now owns 5,730 shares in the company, valued at approximately $896,802.30. The trade was a 53.62% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, President Hof Matthew Kaes Van't sold 10,000 shares of Diamondback Energy stock in a transaction dated 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 transaction, the president now directly owns 120,645 shares of the company's stock, valued at approximately $17,214,835.05. This trade represents a 7.65% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.70% of the stock is owned by corporate insiders.

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.