Yacktman Asset Management LP Has $235.79 Million Stock Holdings in Diamondback Energy, Inc. (NASDAQ:FANG)

Yacktman Asset Management LP lifted its holdings in shares of Diamondback Energy, Inc. (NASDAQ:FANG - Free Report) by 4.5% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 1,520,447 shares of the oil and natural gas company's stock after purchasing an additional 65,524 shares during the quarter. Diamondback Energy comprises approximately 2.2% of Yacktman Asset Management LP's investment portfolio, making the stock its 17th biggest position. Yacktman Asset Management LP owned 0.85% of Diamondback Energy worth $235,791,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of the business. Wellington Management Group LLP boosted its holdings in Diamondback Energy by 4.8% during the 3rd quarter. Wellington Management Group LLP now owns 14,266,640 shares of the oil and natural gas company's stock valued at $2,209,617,000 after acquiring an additional 648,317 shares during the period. Morgan Stanley raised its position in Diamondback Energy by 2.6% in the 3rd quarter. Morgan Stanley now owns 3,494,159 shares of the oil and natural gas company's stock valued at $541,175,000 after purchasing an additional 89,663 shares in the last quarter. Invesco Ltd. raised its position in Diamondback Energy by 6.6% in the 3rd quarter. Invesco Ltd. now owns 3,320,567 shares of the oil and natural gas company's stock valued at $514,289,000 after purchasing an additional 206,189 shares in the last quarter. Massachusetts Financial Services Co. MA raised its position in Diamondback Energy by 39.9% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 3,007,599 shares of the oil and natural gas company's stock valued at $465,817,000 after purchasing an additional 858,446 shares in the last quarter. Finally, Northern Trust Corp raised its position in Diamondback Energy by 0.6% in the 3rd quarter. Northern Trust Corp now owns 1,999,579 shares of the oil and natural gas company's stock valued at $309,695,000 after purchasing an additional 12,237 shares in the last quarter. 90.01% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, CAO Teresa L. Dick sold 2,000 shares of Diamondback Energy stock in a transaction on Wednesday, March 20th. The stock was sold at an average price of $192.00, for a total transaction of $384,000.00. Following the completion of the transaction, the chief accounting officer now directly owns 96,523 shares of the company's stock, valued at $18,532,416. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In related news, CAO Teresa L. Dick sold 2,000 shares of Diamondback Energy stock in a transaction on Wednesday, March 20th. The stock was sold at an average price of $192.00, for a total transaction of $384,000.00. Following the completion of the transaction, the chief accounting officer now directly owns 96,523 shares of the company's stock, valued at $18,532,416. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, VP Jere W. Thompson III sold 2,675 shares of Diamondback Energy stock in a transaction on Tuesday, March 19th. The stock was sold at an average price of $192.35, for a total value of $514,536.25. Following the transaction, the vice president now directly owns 8,485 shares of the company's stock, valued at $1,632,089.75. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 57,675 shares of company stock valued at $11,311,096. 0.43% of the stock is owned by insiders.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on the company. Susquehanna raised their target price on Diamondback Energy from $212.00 to $245.00 and gave the stock a "positive" rating in a research report on Monday. Truist Financial raised their target price on Diamondback Energy from $248.00 to $250.00 and gave the stock a "buy" rating in a research report on Monday. Scotiabank raised their target price on Diamondback Energy from $210.00 to $255.00 and gave the stock a "sector outperform" rating in a research report on Thursday, April 11th. KeyCorp raised their target price on Diamondback Energy from $210.00 to $225.00 and gave the stock an "overweight" rating in a research report on Monday. Finally, Barclays assumed coverage on Diamondback Energy in a research report on Wednesday, April 10th. They set an "equal weight" rating and a $214.00 target price on the stock. One research analyst has rated the stock with a sell rating, five have given a hold rating, thirteen have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, Diamondback Energy currently has an average rating of "Moderate Buy" and an average target price of $202.53.

Diamondback Energy Stock Performance

Shares of FANG stock traded up $0.66 during midday trading on Friday, hitting $207.76. The company had a trading volume of 1,183,884 shares, compared to its average volume of 1,724,379. The company's 50 day simple moving average is $193.25 and its 200 day simple moving average is $169.49. Diamondback Energy, Inc. has a 52-week low of $123.41 and a 52-week high of $211.96. The stock has a market cap of $37.05 billion, a price-to-earnings ratio of 11.98 and a beta of 1.93. The company has a debt-to-equity ratio of 0.38, a current ratio of 0.77 and a quick ratio of 0.74.

Diamondback Energy (NASDAQ:FANG - Get Free Report) last posted its quarterly earnings results on Tuesday, February 20th. The oil and natural gas company reported $4.74 earnings per share for the quarter, beating analysts' consensus estimates of $4.61 by $0.13. Diamondback Energy had a return on equity of 19.56% and a net margin of 37.36%. The firm had revenue of $2.23 billion for the quarter, compared to the consensus estimate of $2.16 billion. During the same period in the previous year, the business earned $5.29 earnings per share. The company's revenue for the quarter was up 9.8% compared to the same quarter last year. Research analysts anticipate that Diamondback Energy, Inc. will post 18.83 earnings per share for the current fiscal year.

Diamondback Energy Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, March 12th. Investors of record on Tuesday, March 5th were issued a dividend of $3.08 per share. The ex-dividend date was Monday, March 4th. This is a boost from Diamondback Energy's previous quarterly dividend of $0.84. This represents a $12.32 annualized dividend and a yield of 5.93%. Diamondback Energy's payout ratio is currently 20.76%.

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.