Zimmer Partners LP Increases Stake in Diamondback Energy, Inc. (NASDAQ:FANG)

Zimmer Partners LP lifted its stake in shares of Diamondback Energy, Inc. (NASDAQ:FANG - Free Report) by 2.9% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 525,000 shares of the oil and natural gas company's stock after buying an additional 15,000 shares during the quarter. Diamondback Energy comprises 1.5% of Zimmer Partners LP's portfolio, making the stock its 20th largest position. Zimmer Partners LP owned approximately 0.18% of Diamondback Energy worth $86,011,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors also recently modified their holdings of the company. Wintrust Investments LLC purchased a new position in shares of Diamondback Energy during the fourth quarter valued at about $28,000. R Squared Ltd purchased a new position in shares of Diamondback Energy during the fourth quarter valued at about $29,000. UMB Bank n.a. increased its position in shares of Diamondback Energy by 247.3% during the fourth quarter. UMB Bank n.a. now owns 191 shares of the oil and natural gas company's stock valued at $31,000 after buying an additional 136 shares during the period. Key Financial Inc increased its position in shares of Diamondback Energy by 940.0% during the fourth quarter. Key Financial Inc now owns 208 shares of the oil and natural gas company's stock valued at $34,000 after buying an additional 188 shares during the period. Finally, Ancora Advisors LLC grew its holdings in Diamondback Energy by 182.9% in the fourth quarter. Ancora Advisors LLC now owns 232 shares of the oil and natural gas company's stock worth $38,000 after purchasing an additional 150 shares during the period. Hedge funds and other institutional investors own 90.01% of the company's stock.

Diamondback Energy Stock Down 1.3%

Shares of Diamondback Energy stock opened at $139.35 on Tuesday. The company has a market cap of $40.71 billion, a price-to-earnings ratio of 7.98, a price-to-earnings-growth ratio of 1.24 and a beta of 1.06. The company's 50 day moving average is $141.10 and its 200 day moving average is $157.61. Diamondback Energy, Inc. has a twelve month low of $114.00 and a twelve month 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.

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. The company had revenue of $4.05 billion for the quarter, compared to the consensus estimate of $3.58 billion. Diamondback Energy had a net margin of 33.64% and a return on equity of 13.68%. The firm's revenue for the quarter was up 81.8% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $4.50 earnings per share. Research analysts anticipate that Diamondback Energy, Inc. will post 15.49 EPS for the current year.

Diamondback Energy Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, May 22nd. Shareholders of record on Thursday, May 15th will be given a $1.00 dividend. The ex-dividend date of this dividend is Thursday, May 15th. This represents a $4.00 annualized dividend and a yield of 2.87%. Diamondback Energy's payout ratio is presently 24.46%.

Wall Street Analyst Weigh In

FANG has been the topic of a number of recent research reports. Evercore ISI initiated coverage on shares of Diamondback Energy in a report on Tuesday, May 6th. They issued an "outperform" rating and a $165.00 price objective on the stock. Williams Trading set a $190.00 price objective on shares of Diamondback Energy in a report on Wednesday, March 5th. Piper Sandler cut their price objective on shares of Diamondback Energy from $234.00 to $225.00 and set an "overweight" rating on the stock in a report on Tuesday, May 13th. Barclays cut their price objective on shares of Diamondback Energy from $200.00 to $185.00 and set an "overweight" rating on the stock in a report on Wednesday, April 23rd. Finally, Mizuho cut their price objective on shares of Diamondback Energy from $186.00 to $179.00 and set an "outperform" rating on the stock in a report on Tuesday, May 13th. Two research 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 stock. According to MarketBeat, the company currently has a consensus rating of "Buy" and an average price target of $194.09.

Insiders Place Their Bets

In other Diamondback Energy news, Director Frank D. Tsuru purchased 2,000 shares of the firm's stock in a transaction on Friday, February 28th. The shares were acquired at an average cost of $156.51 per share, for a total transaction of $313,020.00. Following the completion of the transaction, the director now owns 5,730 shares of the company's stock, valued at approximately $896,802.30. The trade was a 53.62% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, President Hof Matthew Kaes Van't sold 10,000 shares of the stock in a transaction that occurred on Monday, May 12th. The stock was sold at an average price of $142.69, for a total transaction of $1,426,900.00. Following the completion of the transaction, the president now owns 120,645 shares in the company, 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.

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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