Quarry LP Has $3.36 Million Stock Holdings in Diamondback Energy, Inc. (NASDAQ:FANG)

Quarry LP raised its stake in Diamondback Energy, Inc. (NASDAQ:FANG - Free Report) by 48.9% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 20,485 shares of the oil and natural gas company's stock after buying an additional 6,724 shares during the period. Diamondback Energy makes up about 0.5% of Quarry LP's investment portfolio, making the stock its 22nd largest holding. Quarry LP's holdings in Diamondback Energy were worth $3,356,000 as of its most recent filing with the SEC.

Several other large investors have also modified their holdings of FANG. Lakewood Asset Management LLC lifted its position in shares of Diamondback Energy by 0.5% in the 4th quarter. Lakewood Asset Management LLC now owns 11,340 shares of the oil and natural gas company's stock valued at $1,858,000 after acquiring an additional 60 shares in the last quarter. Magnolia Capital Advisors LLC boosted its position in shares of Diamondback Energy by 2.0% in the fourth quarter. Magnolia Capital Advisors LLC now owns 3,247 shares of the oil and natural gas company's stock worth $532,000 after buying an additional 64 shares during the period. Barden Capital Management Inc. grew its holdings in shares of Diamondback Energy by 1.5% during the fourth quarter. Barden Capital Management Inc. now owns 4,380 shares of the oil and natural gas company's stock valued at $718,000 after buying an additional 64 shares in the last quarter. Greenleaf Trust raised its position in Diamondback Energy by 1.0% during the fourth quarter. Greenleaf Trust now owns 6,892 shares of the oil and natural gas company's stock valued at $1,129,000 after buying an additional 66 shares during the period. Finally, Buckhead Capital Management LLC lifted its stake in Diamondback Energy by 0.3% in the 4th quarter. Buckhead Capital Management LLC now owns 19,830 shares of the oil and natural gas company's stock worth $3,249,000 after acquiring an additional 67 shares in the last quarter. 90.01% of the stock is owned by institutional investors.

Insider Activity at Diamondback Energy

In other news, Director Frank D. Tsuru acquired 2,000 shares of the firm's stock in a transaction dated Friday, February 28th. The shares were bought at an average price of $156.51 per share, with a total value of $313,020.00. Following the acquisition, the director now owns 5,730 shares of the company's stock, valued at $896,802.30. This trade represents a 53.62 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 0.70% of the company's stock.

Diamondback Energy Stock Performance

FANG traded up $2.82 during midday trading on Thursday, reaching $134.83. The company's stock had a trading volume of 2,158,063 shares, compared to its average volume of 2,099,370. Diamondback Energy, Inc. has a twelve month low of $114.00 and a twelve month high of $214.50. The stock has a market cap of $39.65 billion, a P/E ratio of 7.72, a PEG ratio of 1.24 and a beta of 1.44. The company has a fifty day simple moving average of $143.60 and a 200 day simple moving average of $161.78. The company has a current ratio of 0.45, a quick ratio of 0.42 and a debt-to-equity ratio of 0.31.

Diamondback Energy (NASDAQ:FANG - Get Free Report) last released its earnings results on Tuesday, February 25th. The oil and natural gas company reported $3.64 EPS for the quarter, beating the consensus estimate of $3.57 by $0.07. The firm had revenue of $3.71 billion during the quarter, compared to analysts' expectations of $3.55 billion. Diamondback Energy had a net margin of 33.64% and a return on equity of 13.68%. Research analysts expect that Diamondback Energy, Inc. will post 15.49 earnings per share for the current year.

Diamondback Energy Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, March 13th. Investors of record on Thursday, March 6th were given a dividend of $1.00 per share. The ex-dividend date of this dividend was Thursday, March 6th. This is an increase from Diamondback Energy's previous quarterly dividend of $0.90. This represents a $4.00 dividend on an annualized basis and a yield of 2.97%. Diamondback Energy's dividend payout ratio (DPR) is 25.32%.

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on FANG. Wells Fargo & Company reduced their price target on shares of Diamondback Energy from $215.00 to $207.00 and set an "overweight" rating for the company in a research report on Monday, April 21st. Susquehanna dropped their price target on shares of Diamondback Energy from $219.00 to $194.00 and set a "positive" rating on the stock in a research note on Tuesday, April 22nd. KeyCorp cut their price objective on Diamondback Energy from $216.00 to $180.00 and set an "overweight" rating for the company in a report on Monday, April 21st. Barclays lowered their target price on Diamondback Energy from $200.00 to $185.00 and set an "overweight" rating on the stock in a research note on Wednesday, April 23rd. Finally, Citigroup raised Diamondback Energy from a "reduce" rating to a "buy" rating and raised their price target for the stock from $157.00 to $180.00 in a research note on Monday, April 7th. Two investment analysts have rated the stock with a hold rating, nineteen have assigned a buy rating and two have assigned a strong buy rating to the company's stock. Based on data from MarketBeat, Diamondback Energy presently has an average rating of "Buy" and a consensus target price of $199.00.

About Diamondback Energy

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.