GeoSphere Capital Management LLC Takes Position in Diamondback Energy, Inc. (NASDAQ:FANG)

GeoSphere Capital Management LLC acquired a new stake in Diamondback Energy, Inc. (NASDAQ:FANG - Free Report) during the 4th quarter, according to its most recent filing with the SEC. The institutional investor acquired 35,000 shares of the oil and natural gas company's stock, valued at approximately $5,734,000. Diamondback Energy accounts for approximately 2.7% of GeoSphere Capital Management LLC's investment portfolio, making the stock its 5th largest holding.

Other large investors also recently modified their holdings of the company. QRG Capital Management Inc. grew its position 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 worth $1,913,000 after acquiring an additional 3,238 shares during the last quarter. Swedbank AB grew its position 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 worth $32,485,000 after acquiring an additional 43,361 shares during the last quarter. Tokio Marine Asset Management Co. Ltd. grew its position 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 worth $7,069,000 after acquiring an additional 37,246 shares during the last quarter. Franklin Resources Inc. grew its position in Diamondback Energy by 48.5% during the 3rd quarter. Franklin Resources Inc. now owns 146,870 shares of the oil and natural gas company's stock worth $28,008,000 after acquiring an additional 47,951 shares during the last quarter. Finally, Tectonic Advisors LLC grew its position 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 worth $5,155,000 after acquiring an additional 8,704 shares during the last quarter. 90.01% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on FANG shares. KeyCorp decreased their price target on Diamondback Energy from $216.00 to $180.00 and set an "overweight" rating on the stock in a research report on Monday, April 21st. Royal Bank of Canada assumed coverage on Diamondback Energy in a report on Friday, May 2nd. They set an "outperform" rating and a $180.00 price objective on the stock. Evercore ISI assumed coverage on Diamondback Energy in a report on Tuesday, May 6th. They set an "outperform" rating and a $165.00 price objective on the stock. JPMorgan Chase & Co. reduced their price objective on Diamondback Energy from $167.00 to $161.00 and set an "overweight" rating on the stock in a report on Wednesday, May 7th. Finally, 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 report on Monday, April 21st. Two 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. According to data from MarketBeat.com, the company currently has a consensus rating of "Buy" and a consensus price target of $194.09.

Diamondback Energy Trading Down 0.9%

Diamondback Energy stock traded down $1.31 during mid-day trading on Wednesday, hitting $144.87. 237,039 shares of the company's stock were exchanged, compared to its average volume of 2,120,684. The firm has a market capitalization of $42.32 billion, a P/E ratio of 8.28, a PEG ratio of 1.24 and a beta of 1.06. Diamondback Energy, Inc. has a fifty-two week low of $114.00 and a fifty-two week 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. The company's 50 day simple moving average is $141.19 and its 200-day simple moving average is $158.71.

Diamondback Energy (NASDAQ:FANG - Get Free Report) last released its earnings results on Monday, May 5th. The oil and natural gas company reported $4.54 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $3.67 by $0.87. The firm had revenue of $4.05 billion during 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 company's revenue was up 81.8% on a year-over-year basis. During the same quarter in the prior year, the company earned $4.50 EPS. On average, equities analysts anticipate that Diamondback Energy, Inc. will post 15.49 earnings per share for the current year.

Diamondback Energy Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, May 22nd. Shareholders of record on Thursday, May 15th will be issued a dividend of $1.00 per share. This represents a $4.00 dividend on an annualized basis and a yield of 2.76%. The ex-dividend date is Thursday, May 15th. Diamondback Energy's dividend payout ratio (DPR) is presently 24.46%.

Insiders Place Their Bets

In other news, Director Frank D. Tsuru bought 2,000 shares of the stock in a transaction on Friday, February 28th. The stock was purchased at an average price of $156.51 per share, for a total transaction of $313,020.00. Following the acquisition, the director now owns 5,730 shares in the company, valued at approximately $896,802.30. This trade represents a 53.62% increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Corporate insiders own 0.70% of the company's stock.

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.