USS Investment Management Ltd Invests $2.35 Million in Diamondback Energy, Inc. (NASDAQ:FANG)

USS Investment Management Ltd acquired a new position in Diamondback Energy, Inc. (NASDAQ:FANG - Free Report) during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor acquired 14,356 shares of the oil and natural gas company's stock, valued at approximately $2,352,000.

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

Insider Activity at Diamondback Energy

In other news, President Hof Matthew Kaes Van't sold 10,000 shares of the company's 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 sale, the president now owns 120,645 shares of the company's stock, 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 Securities & Exchange Commission, which is available at this hyperlink. Also, Director Frank D. Tsuru purchased 2,000 shares of Diamondback Energy stock in a transaction that occurred on Friday, February 28th. The stock was acquired at an average cost of $156.51 per share, with a total value of $313,020.00. Following the acquisition, the director now directly owns 5,730 shares of the company's stock, valued at $896,802.30. The trade was a 53.62% increase in their position. The disclosure for this purchase can be found here. Insiders own 0.70% of the company's stock.

Diamondback Energy Stock Performance

Shares of FANG stock traded up $1.63 during midday trading on Tuesday, hitting $137.49. The company had a trading volume of 1,787,061 shares, compared to its average volume of 2,151,879. The company's 50 day simple moving average is $139.52 and its 200 day simple moving average is $156.07. Diamondback Energy, Inc. has a 52-week low of $114.00 and a 52-week high of $214.50. The stock has a market cap of $40.17 billion, a price-to-earnings ratio of 7.87, a PEG ratio of 1.24 and a beta of 1.06. The company has a debt-to-equity ratio of 0.31, a current ratio of 0.45 and a quick ratio of 0.42.

Diamondback Energy (NASDAQ:FANG - Get Free Report) last posted its quarterly earnings results 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. The firm had revenue of $4.05 billion for the quarter, compared to the consensus estimate of $3.58 billion. Diamondback Energy had a return on equity of 13.68% and a net margin of 33.64%. The company's revenue for the quarter was up 81.8% compared to the same quarter last year. During the same period in the previous year, the business earned $4.50 earnings per share. Research analysts anticipate that Diamondback Energy, Inc. will post 15.49 earnings per share for the current fiscal year.

Diamondback Energy Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, May 22nd. Investors of record on Thursday, May 15th were paid a $1.00 dividend. The ex-dividend date of this dividend was Thursday, May 15th. This represents a $4.00 annualized dividend and a yield of 2.91%. Diamondback Energy's payout ratio is currently 24.46%.

Analyst Upgrades and Downgrades

FANG has been the subject of several recent research reports. JPMorgan Chase & Co. decreased their price objective on Diamondback Energy from $167.00 to $161.00 and set an "overweight" rating for the company in a research note on Wednesday, May 7th. Williams Trading set a $190.00 price objective on Diamondback Energy in a research note on Wednesday, March 5th. Mizuho decreased their price objective on Diamondback Energy from $186.00 to $179.00 and set an "outperform" rating for the company in a research note on Tuesday, May 13th. KeyCorp decreased their target price on Diamondback Energy from $216.00 to $180.00 and set an "overweight" rating for the company in a research note on Monday, April 21st. Finally, Susquehanna decreased their target price on Diamondback Energy from $219.00 to $194.00 and set a "positive" rating for the company in a research note on Tuesday, April 22nd. Two research 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. Based on data from MarketBeat, the stock has an average rating of "Buy" and a consensus target price of $193.09.

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.