Focus Partners Wealth Acquires 2,140 Shares of Diamondback Energy, Inc. (NASDAQ:FANG)

Focus Partners Wealth lifted its holdings in shares of Diamondback Energy, Inc. (NASDAQ:FANG - Free Report) by 3.3% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 67,484 shares of the oil and natural gas company's stock after purchasing an additional 2,140 shares during the quarter. Focus Partners Wealth's holdings in Diamondback Energy were worth $11,063,000 at the end of the most recent quarter.

A number of other hedge funds also recently bought and sold shares of the company. Price T Rowe Associates Inc. MD lifted its position in Diamondback Energy by 11.3% in the 4th 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 buying an additional 928,429 shares during the last quarter. Boston Partners lifted its position in Diamondback Energy by 12.4% in the 4th quarter. Boston Partners now owns 5,169,742 shares of the oil and natural gas company's stock worth $849,202,000 after buying an additional 571,820 shares during the last quarter. Geode Capital Management LLC lifted its position in Diamondback Energy by 2.0% in the 4th quarter. Geode Capital Management LLC now owns 4,710,165 shares of the oil and natural gas company's stock worth $769,706,000 after buying an additional 91,605 shares during the last quarter. Bank of New York Mellon Corp lifted its position in Diamondback Energy by 13.7% in the 4th quarter. Bank of New York Mellon Corp now owns 4,163,070 shares of the oil and natural gas company's stock worth $682,036,000 after buying an additional 502,916 shares during the last quarter. Finally, Demars Financial Group LLC bought a new stake in Diamondback Energy in the 4th quarter worth approximately $638,050,000. Institutional investors own 90.01% of the company's stock.

Analyst Ratings Changes

A number of analysts recently weighed in on FANG shares. Susquehanna dropped their target price 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. Mizuho lowered their price objective on Diamondback Energy from $186.00 to $179.00 and set an "outperform" rating for the company in a research report on Tuesday. KeyCorp lowered their price objective 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. JPMorgan Chase & Co. lowered their price objective on Diamondback Energy from $167.00 to $161.00 and set an "overweight" rating for the company in a research report on Wednesday, May 7th. Finally, Wells Fargo & Company lowered their price objective on Diamondback Energy from $215.00 to $207.00 and set an "overweight" rating for the company in a research report on Monday, April 21st. Two equities 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. According to MarketBeat, the company presently has an average rating of "Buy" and an average price target of $194.09.

Diamondback Energy Stock Down 0.6%

FANG stock traded down $0.82 during midday trading on Friday, hitting $141.13. The stock had a trading volume of 2,291,301 shares, compared to its average volume of 2,133,220. The firm has a market cap of $41.23 billion, a price-to-earnings ratio of 8.08, a price-to-earnings-growth ratio of 1.24 and a beta of 1.06. The business has a 50-day moving average of $141.32 and a two-hundred day moving average of $158.36. Diamondback Energy, Inc. has a 52-week low of $114.00 and a 52-week high of $214.50. 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 issued its quarterly earnings results on Monday, May 5th. The oil and natural gas company reported $4.54 earnings per share for the quarter, topping the consensus estimate of $3.67 by $0.87. The company had revenue of $4.05 billion for the quarter, compared to analysts' expectations of $3.58 billion. Diamondback Energy had a return on equity of 13.68% and a net margin of 33.64%. The firm's revenue for the quarter was up 81.8% on a year-over-year basis. During the same period in the prior year, the firm earned $4.50 earnings per share. As a group, equities research analysts forecast that Diamondback Energy, Inc. will post 15.49 earnings per share for the current fiscal year.

Diamondback Energy Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, May 22nd. Investors 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 annualized dividend and a yield of 2.83%. Diamondback Energy's payout ratio is 24.46%.

Insider Buying and Selling

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

Diamondback Energy Company 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.