Two Sigma Advisers LP Takes $40.78 Million Position in Diamondback Energy, Inc. (NASDAQ:FANG)

Two Sigma Advisers LP bought a new stake in Diamondback Energy, Inc. (NASDAQ:FANG - Free Report) during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm bought 248,900 shares of the oil and natural gas company's stock, valued at approximately $40,777,000. Two Sigma Advisers LP owned approximately 0.09% of Diamondback Energy at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Price T Rowe Associates Inc. MD lifted its position in shares of Diamondback Energy by 11.3% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 9,136,645 shares of the oil and natural gas company's stock valued at $1,496,859,000 after acquiring an additional 928,429 shares in the last quarter. Boston Partners lifted its position in shares of Diamondback Energy by 12.4% in the fourth quarter. Boston Partners now owns 5,169,742 shares of the oil and natural gas company's stock valued at $849,202,000 after acquiring an additional 571,820 shares in the last quarter. Geode Capital Management LLC lifted its position in shares of Diamondback Energy by 2.0% in the fourth quarter. Geode Capital Management LLC now owns 4,710,165 shares of the oil and natural gas company's stock valued at $769,706,000 after acquiring an additional 91,605 shares in the last quarter. Bank of New York Mellon Corp lifted its position in shares of Diamondback Energy by 13.7% in the fourth 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 acquiring an additional 502,916 shares in the last quarter. Finally, Demars Financial Group LLC purchased a new position in shares of Diamondback Energy in the fourth quarter valued at approximately $638,050,000. Hedge funds and other institutional investors own 90.01% of the company's stock.

Insider Activity

In related news, Director Frank D. Tsuru bought 2,000 shares of the stock in a transaction that occurred on Friday, February 28th. The stock was purchased at an average cost of $156.51 per share, with a total value of $313,020.00. Following the purchase, the director now directly owns 5,730 shares of the company's stock, valued at $896,802.30. This trade represents a 53.62% increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through this link. Also, President Hof Matthew Kaes Van't sold 10,000 shares of the business'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 transaction, the president now directly owns 120,645 shares of the company's stock, valued at $17,214,835.05. The trade was a 7.65% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.70% of the company's stock.

Wall Street Analyst Weigh In

FANG has been the topic of several research reports. Raymond James decreased their target price on Diamondback Energy from $245.00 to $214.00 and set a "strong-buy" rating on the stock in a research report on Wednesday, March 12th. Scotiabank reduced their price objective on Diamondback Energy from $215.00 to $175.00 and set a "sector outperform" rating on the stock in a research report on Friday, April 11th. Wells Fargo & Company reduced their price objective on Diamondback Energy from $215.00 to $207.00 and set an "overweight" rating on the stock in a research report on Monday, April 21st. Truist Financial lifted their price objective on Diamondback Energy from $238.00 to $242.00 and gave the stock a "buy" rating in a research report on Thursday, April 17th. Finally, Evercore ISI began coverage on Diamondback Energy in a research report on Tuesday, May 6th. They set an "outperform" rating and a $165.00 price objective on the stock. Two research analysts have rated the stock with a hold rating, nineteen have given a buy rating and two have assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock currently has an average rating of "Buy" and an average target price of $194.09.

Diamondback Energy Trading Down 1.3%

Shares of NASDAQ FANG opened at $139.35 on Tuesday. Diamondback Energy, Inc. has a twelve month low of $114.00 and a twelve month high of $214.50. The company has a current ratio of 0.45, a quick ratio of 0.42 and a debt-to-equity ratio of 0.31. The stock has a fifty day simple moving average of $141.10 and a 200-day simple moving average of $157.61. The stock has a market capitalization of $40.71 billion, a PE ratio of 7.98, a PEG ratio of 1.24 and a beta of 1.06.

Diamondback Energy (NASDAQ:FANG - Get Free Report) last issued its quarterly earnings data on Monday, May 5th. The oil and natural gas company reported $4.54 earnings per share 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 analysts' expectations of $3.58 billion. During the same period in the previous year, the firm posted $4.50 earnings per share. The company's revenue was up 81.8% on a year-over-year basis. On average, equities analysts forecast that Diamondback Energy, Inc. will post 15.49 earnings per share for the current year.

Diamondback Energy Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, May 22nd. Stockholders of record on Thursday, May 15th will be paid a $1.00 dividend. The ex-dividend date is Thursday, May 15th. This represents a $4.00 dividend on an annualized basis and a dividend yield of 2.87%. Diamondback Energy's payout ratio 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.

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