Diamondback Energy, Inc. (NASDAQ:FANG) Shares Purchased by Park National Corp OH

Park National Corp OH increased its position in shares of Diamondback Energy, Inc. (NASDAQ:FANG - Free Report) by 13.7% during the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 51,491 shares of the oil and natural gas company's stock after buying an additional 6,210 shares during the period. Park National Corp OH's holdings in Diamondback Energy were worth $8,232,000 as of its most recent filing with the SEC.

A number of other hedge funds have also recently added to or reduced their stakes in FANG. QRG Capital Management Inc. raised its position in Diamondback Energy by 38.4% during the fourth quarter. QRG Capital Management Inc. now owns 11,675 shares of the oil and natural gas company's stock worth $1,913,000 after acquiring an additional 3,238 shares during the period. Swedbank AB raised its position in Diamondback Energy by 28.0% during the fourth quarter. Swedbank AB now owns 198,283 shares of the oil and natural gas company's stock worth $32,485,000 after acquiring an additional 43,361 shares during the period. Tokio Marine Asset Management Co. Ltd. raised its position in Diamondback Energy by 631.1% during the fourth quarter. Tokio Marine Asset Management Co. Ltd. now owns 43,148 shares of the oil and natural gas company's stock worth $7,069,000 after acquiring an additional 37,246 shares during the period. Tectonic Advisors LLC raised its position in shares of Diamondback Energy by 38.2% in the fourth quarter. Tectonic Advisors LLC now owns 31,467 shares of the oil and natural gas company's stock valued at $5,155,000 after buying an additional 8,704 shares during the last quarter. Finally, Candriam S.C.A. raised its position in shares of Diamondback Energy by 27.4% in the fourth quarter. Candriam S.C.A. now owns 21,040 shares of the oil and natural gas company's stock valued at $3,447,000 after buying an additional 4,529 shares during the last quarter. 90.01% of the stock is owned by hedge funds and other institutional investors.

Diamondback Energy Price Performance

Shares of Diamondback Energy stock traded down $2.82 on Friday, hitting $134.99. The company's stock had a trading volume of 4,362,783 shares, compared to its average volume of 2,168,876. Diamondback Energy, Inc. has a 52-week low of $114.00 and a 52-week high of $214.50. The company has a quick ratio of 0.42, a current ratio of 0.45 and a debt-to-equity ratio of 0.31. The firm has a fifty day moving average price of $137.66 and a 200-day moving average price of $155.21. The company has a market capitalization of $39.44 billion, a P/E 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 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 analyst estimates of $3.58 billion. During the same period in the previous year, the firm earned $4.50 EPS. The business's revenue for the quarter was up 81.8% compared to the same quarter last year. On average, equities research analysts expect that Diamondback Energy, Inc. will post 15.49 earnings per share for the current fiscal year.

Diamondback Energy Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, May 22nd. Shareholders 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 2.96%. Diamondback Energy's dividend payout ratio (DPR) is 24.46%.

Analysts Set New Price Targets

A number of brokerages have recently commented on FANG. Barclays reduced their target price on shares of Diamondback Energy from $200.00 to $185.00 and set an "overweight" rating for the company in a research report on Wednesday, April 23rd. Morgan Stanley cut their price objective on shares of Diamondback Energy from $186.00 to $183.00 and set an "overweight" rating for the company in a research report on Friday, May 23rd. Bank of America raised their price objective on shares of Diamondback Energy from $165.00 to $170.00 and gave the stock a "buy" rating in a research report on Friday, May 23rd. Williams Trading set a $190.00 price objective on shares of Diamondback Energy in a research report on Wednesday, March 5th. Finally, Wells Fargo & Company cut their price objective on shares of Diamondback Energy from $215.00 to $207.00 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 assigned a buy rating and two have given a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock presently has an average rating of "Buy" and an average target price of $193.09.

Insider Buying and Selling at Diamondback Energy

In other Diamondback Energy news, President Hof Matthew Kaes Van't sold 10,000 shares of the company's 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 transaction, the president now directly owns 120,645 shares in the company, valued at approximately $17,214,835.05. This 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. 0.70% of the stock is owned by insiders.

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.