Diamondback Energy, Inc. (NASDAQ:FANG) Holdings Raised by Toronto Dominion Bank

Toronto Dominion Bank lifted its stake in shares of Diamondback Energy, Inc. (NASDAQ:FANG - Free Report) by 3.9% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 66,346 shares of the oil and natural gas company's stock after buying an additional 2,468 shares during the quarter. Toronto Dominion Bank's holdings in Diamondback Energy were worth $10,869,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also made changes to their positions in the company. Demars Financial Group LLC acquired a new position in Diamondback Energy in the fourth quarter valued at approximately $638,050,000. Raymond James Financial Inc. acquired a new stake in shares of Diamondback Energy during the fourth quarter worth $298,327,000. Alyeska Investment Group L.P. acquired a new stake in shares of Diamondback Energy during the fourth quarter worth $185,193,000. Price T Rowe Associates Inc. MD lifted its holdings in shares of 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 period. Finally, Diamond Hill Capital Management Inc. raised its position in Diamondback Energy by 30.5% in 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 acquiring an additional 658,644 shares in the last quarter. 90.01% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, President Hof Matthew Kaes Van't sold 10,000 shares of the company'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 completion of the sale, the president now owns 120,645 shares in the company, valued at $17,214,835.05. This represents a 7.65% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. 0.70% of the stock is currently owned by insiders.

Analysts Set New Price Targets

FANG has been the subject of several research analyst reports. Morgan Stanley cut their price objective 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. Royal Bank of Canada began coverage on Diamondback Energy in a research report on Friday, May 2nd. They set an "outperform" rating and a $180.00 price objective for the company. Barclays decreased their price target on Diamondback Energy from $200.00 to $185.00 and set an "overweight" rating on the stock in a research note on Wednesday, April 23rd. Wells Fargo & Company decreased their price target on Diamondback Energy from $215.00 to $207.00 and set an "overweight" rating on the stock in a research note on Monday, April 21st. Finally, Raymond James reaffirmed a "strong-buy" rating on shares of Diamondback Energy in a research note on Thursday, May 22nd. Two investment analysts have rated the stock with a hold rating, nineteen have given a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat.com, Diamondback Energy presently has an average rating of "Buy" and a consensus target price of $193.09.

Diamondback Energy Stock Performance

Shares of NASDAQ FANG traded down $2.82 during trading on Friday, reaching $134.99. The stock had a trading volume of 4,362,783 shares, compared to its average volume of 2,168,876. Diamondback Energy, Inc. has a one year low of $114.00 and a one year high of $214.50. The company has a debt-to-equity ratio of 0.31, a quick ratio of 0.42 and a current ratio of 0.45. The stock has a market cap of $39.44 billion, a PE ratio of 7.73, a P/E/G ratio of 1.24 and a beta of 1.06. The firm's 50 day moving average price is $137.66 and its two-hundred day moving average price is $155.21.

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 (EPS) for the quarter, beating analysts' consensus estimates of $3.67 by $0.87. Diamondback Energy had a return on equity of 13.68% and a net margin of 33.64%. The business had revenue of $4.05 billion during the quarter, compared to analyst estimates of $3.58 billion. During the same quarter in the previous year, the firm posted $4.50 EPS. The business's revenue for the quarter was up 81.8% compared to the same quarter last year. On average, research analysts forecast that Diamondback Energy, Inc. will post 15.49 earnings per share for the current fiscal year.

Diamondback Energy Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, May 22nd. Shareholders of record on Thursday, May 15th were given a dividend of $1.00 per share. 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 presently 24.46%.

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.