Tobam Raises Holdings in Diamondback Energy, Inc. (NASDAQ:FANG)

Tobam boosted its position in shares of Diamondback Energy, Inc. (NASDAQ:FANG - Free Report) by 196.2% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 11,322 shares of the oil and natural gas company's stock after buying an additional 7,499 shares during the period. Tobam's holdings in Diamondback Energy were worth $1,810,000 at the end of the most recent quarter.

Several other large investors also recently bought and sold shares of the company. Parkside Investments LLC increased its stake in Diamondback Energy by 25.0% during the 1st quarter. Parkside Investments LLC now owns 5,000 shares of the oil and natural gas company's stock worth $799,000 after buying an additional 1,000 shares in the last quarter. Greenwood Capital Associates LLC grew its position in shares of Diamondback Energy by 5.5% in the first quarter. Greenwood Capital Associates LLC now owns 29,018 shares of the oil and natural gas company's stock valued at $4,639,000 after purchasing an additional 1,504 shares in the last quarter. Fifth Third Bancorp grew its position in shares of Diamondback Energy by 5.7% in the first quarter. Fifth Third Bancorp now owns 8,798 shares of the oil and natural gas company's stock valued at $1,407,000 after purchasing an additional 477 shares in the last quarter. Simon Quick Advisors LLC grew its position in shares of Diamondback Energy by 8.7% in the first quarter. Simon Quick Advisors LLC now owns 1,339 shares of the oil and natural gas company's stock valued at $214,000 after purchasing an additional 107 shares in the last quarter. Finally, CX Institutional purchased a new stake in shares of Diamondback Energy in the first quarter valued at approximately $502,000. 90.01% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

FANG has been the subject of a number of analyst reports. Susquehanna dropped their price target on Diamondback Energy from $219.00 to $194.00 and set a "positive" rating for the company in a research report on Tuesday, April 22nd. Barclays dropped their price target on 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 dropped their price target on Diamondback Energy from $186.00 to $183.00 and set an "overweight" rating for the company in a research report on Friday, May 23rd. KeyCorp dropped their price target on Diamondback Energy from $216.00 to $180.00 and set an "overweight" rating for the company in a research report on Monday, April 21st. Finally, Wells Fargo & Company decreased their price objective on Diamondback Energy from $215.00 to $207.00 and set an "overweight" rating on the stock in a report on Monday, April 21st. Two 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's stock. According to MarketBeat.com, the stock presently has an average rating of "Buy" and an average target price of $193.09.

Insider Transactions at Diamondback Energy

In other Diamondback Energy news, President Hof Matthew Kaes Van't sold 10,000 shares of the firm's 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 sale, the president now directly owns 120,645 shares in the company, valued at $17,214,835.05. This trade represents a 7.65% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 0.48% of the company's stock.

Diamondback Energy Trading Up 3.7%

NASDAQ:FANG traded up $5.58 during trading hours on Friday, reaching $154.91. 5,206,181 shares of the stock were exchanged, compared to its average volume of 2,217,371. 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 business has a 50-day moving average of $136.99 and a two-hundred day moving average of $152.50. Diamondback Energy, Inc. has a twelve month low of $114.00 and a twelve month high of $214.50. The company has a market capitalization of $45.26 billion, a price-to-earnings ratio of 8.87, a PEG ratio of 1.24 and a beta of 1.06.

Diamondback Energy (NASDAQ:FANG - Get Free Report) last released its earnings results on Monday, May 5th. The oil and natural gas company reported $4.54 earnings per share (EPS) for the quarter, beating analysts' consensus estimates 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 13.68% and a net margin of 33.64%. Diamondback Energy's revenue was up 81.8% compared to the same quarter last year. During the same period last year, the business posted $4.50 earnings per share. On average, equities analysts predict that Diamondback Energy, Inc. will post 15.49 EPS for the current year.

Diamondback Energy Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, May 22nd. Stockholders of record on Thursday, May 15th were given a dividend of $1.00 per share. This represents a $4.00 dividend on an annualized basis and a dividend yield of 2.58%. The ex-dividend date was Thursday, May 15th. Diamondback Energy's dividend payout ratio 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.