Diamondback Energy, Inc. (NASDAQ:FANG) Stake Decreased by Palo Duro Investment Partners LP

Palo Duro Investment Partners LP decreased its stake in shares of Diamondback Energy, Inc. (NASDAQ:FANG - Free Report) by 9.2% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 168,177 shares of the oil and natural gas company's stock after selling 17,139 shares during the quarter. Diamondback Energy comprises approximately 8.1% of Palo Duro Investment Partners LP's investment portfolio, making the stock its 5th largest holding. Palo Duro Investment Partners LP owned about 0.06% of Diamondback Energy worth $27,552,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. QRG Capital Management Inc. grew its holdings in shares of Diamondback Energy by 38.4% during the fourth 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 buying an additional 3,238 shares during the last quarter. Swedbank AB grew its holdings in shares of Diamondback Energy by 28.0% during the fourth quarter. Swedbank AB now owns 198,283 shares of the oil and natural gas company's stock valued at $32,485,000 after buying an additional 43,361 shares during the last quarter. Tokio Marine Asset Management Co. Ltd. grew its holdings in shares of Diamondback Energy by 631.1% during the fourth 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 buying an additional 37,246 shares during the last quarter. Tectonic Advisors LLC grew its holdings in shares of Diamondback Energy by 38.2% during the fourth quarter. Tectonic Advisors LLC now owns 31,467 shares of the oil and natural gas company's stock valued at $5,155,000 after buying an additional 8,704 shares during the last quarter. Finally, Candriam S.C.A. grew its holdings in shares of Diamondback Energy by 27.4% during the fourth 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 buying an additional 4,529 shares during the last quarter. Institutional investors and hedge funds own 90.01% of the company's stock.

Insider Transactions at Diamondback Energy

In related news, President Hof Matthew Kaes Van't sold 10,000 shares of the business's stock in a transaction dated 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 directly 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Frank D. Tsuru bought 2,000 shares of Diamondback Energy stock in a transaction that occurred on Friday, February 28th. The shares were acquired at an average price of $156.51 per share, with a total value of $313,020.00. Following the completion of the transaction, the director now owns 5,730 shares of the company's stock, valued at $896,802.30. This represents a 53.62% increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders own 0.70% of the company's stock.

Diamondback Energy Stock Performance

Diamondback Energy stock traded down $0.82 during mid-day trading on Friday, reaching $141.13. The company's stock had a trading volume of 2,291,301 shares, compared to its average volume of 2,137,172. Diamondback Energy, Inc. has a 12-month low of $114.00 and a 12-month high of $214.50. The company has a market capitalization of $41.23 billion, a P/E ratio of 8.08, a PEG ratio of 1.24 and a beta of 1.06. The company has a debt-to-equity ratio of 0.31, a quick ratio of 0.42 and a current ratio of 0.45. The firm's fifty day moving average price is $141.25 and its two-hundred day moving average price is $158.13.

Diamondback Energy (NASDAQ:FANG - Get Free Report) last released 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. Diamondback Energy had a net margin of 33.64% and a return on equity of 13.68%. The business had revenue of $4.05 billion during the quarter, compared to analyst estimates of $3.58 billion. During the same period in the previous year, the business earned $4.50 EPS. Diamondback Energy's revenue was up 81.8% compared to the same quarter last year. Sell-side analysts predict that Diamondback Energy, Inc. will post 15.49 EPS 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. Stockholders of record on Thursday, May 15th will be issued a $1.00 dividend. This represents a $4.00 dividend on an annualized basis and a dividend yield of 2.83%. The ex-dividend date is Thursday, May 15th. Diamondback Energy's payout ratio is 24.46%.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on FANG. Williams Trading set a $190.00 price objective on shares of Diamondback Energy in a report on Wednesday, March 5th. Wells Fargo & Company lowered their price target 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. Scotiabank lowered their price target on Diamondback Energy from $215.00 to $175.00 and set a "sector outperform" rating for the company in a research report on Friday, April 11th. Evercore ISI initiated coverage on Diamondback Energy in a research report on Tuesday, May 6th. They issued an "outperform" rating and a $165.00 price target for the company. Finally, Bank of America raised Diamondback Energy from a "neutral" rating to a "buy" rating and lowered their price target for the company from $202.00 to $170.00 in a research report on Tuesday, April 29th. Two analysts have rated the stock with a hold rating, nineteen have issued a buy rating and two have issued a strong buy rating to the company's stock. Based on data from MarketBeat, the company has an average rating of "Buy" and a consensus price target of $194.09.

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.