5,971 Shares in Diamondback Energy, Inc. (NASDAQ:FANG) Bought by Sharpepoint LLC

Sharpepoint LLC purchased a new position in Diamondback Energy, Inc. (NASDAQ:FANG - Free Report) during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 5,971 shares of the oil and natural gas company's stock, valued at approximately $978,000.

A number of other hedge funds also recently bought and sold shares of FANG. Wintrust Investments LLC bought a new stake in Diamondback Energy in the fourth quarter worth $28,000. R Squared Ltd bought a new stake in shares of Diamondback Energy in the 4th quarter worth about $29,000. UMB Bank n.a. boosted its stake in shares of Diamondback Energy by 247.3% during the 4th quarter. UMB Bank n.a. now owns 191 shares of the oil and natural gas company's stock worth $31,000 after purchasing an additional 136 shares during the period. Key Financial Inc grew its holdings in Diamondback Energy by 940.0% during the 4th quarter. Key Financial Inc now owns 208 shares of the oil and natural gas company's stock valued at $34,000 after purchasing an additional 188 shares during the last quarter. Finally, Rakuten Securities Inc. raised its position in Diamondback Energy by 62.4% in the 4th quarter. Rakuten Securities Inc. now owns 276 shares of the oil and natural gas company's stock worth $45,000 after purchasing an additional 106 shares during the period. Hedge funds and other institutional investors own 90.01% of the company's stock.

Insider Transactions at Diamondback Energy

In other news, Director Frank D. Tsuru acquired 2,000 shares of Diamondback Energy stock in a transaction dated Friday, February 28th. The stock was purchased at an average cost of $156.51 per share, for a total transaction of $313,020.00. Following the completion of the purchase, the director now directly owns 5,730 shares in the company, valued at $896,802.30. This trade represents a 53.62 % increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 0.48% of the company's stock.

Diamondback Energy Stock Up 0.5 %

FANG stock traded up $0.62 on Thursday, hitting $136.16. 2,053,924 shares of the company's stock were exchanged, compared to its average volume of 2,092,185. The firm has a 50 day moving average price of $145.86 and a two-hundred day moving average price of $163.83. Diamondback Energy, Inc. has a 12-month low of $114.00 and a 12-month high of $214.50. The stock has a market cap of $40.04 billion, a P/E ratio of 7.79, a price-to-earnings-growth ratio of 1.24 and a beta of 1.44. The company has a debt-to-equity ratio of 0.31, a quick ratio of 0.42 and a current ratio of 0.45.

Diamondback Energy (NASDAQ:FANG - Get Free Report) last issued its quarterly earnings results on Tuesday, February 25th. The oil and natural gas company reported $3.64 earnings per share for the quarter, topping analysts' consensus estimates of $3.57 by $0.07. The business had revenue of $3.71 billion for the quarter, compared to analyst estimates of $3.55 billion. Diamondback Energy had a return on equity of 13.68% and a net margin of 33.64%. As a group, equities research analysts expect that Diamondback Energy, Inc. will post 15.49 EPS for the current fiscal year.

Diamondback Energy Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, March 13th. Shareholders of record on Thursday, March 6th were issued a $1.00 dividend. The ex-dividend date was Thursday, March 6th. This represents a $4.00 dividend on an annualized basis and a dividend yield of 2.94%. This is a boost from Diamondback Energy's previous quarterly dividend of $0.90. Diamondback Energy's dividend payout ratio (DPR) is currently 25.32%.

Analyst Upgrades and Downgrades

FANG has been the topic of several recent analyst reports. Morgan Stanley reiterated an "overweight" rating on shares of Diamondback Energy in a report on Tuesday, April 15th. Raymond James cut their price target on shares of Diamondback Energy from $245.00 to $214.00 and set a "strong-buy" rating on the stock in a report on Wednesday, March 12th. Royal Bank of Canada reiterated an "outperform" rating and set a $210.00 price objective on shares of Diamondback Energy in a report on Thursday, January 23rd. Citigroup raised shares of Diamondback Energy from a "reduce" rating to a "buy" rating and lifted their price target for the company from $157.00 to $180.00 in a research note on Monday, April 7th. Finally, Susquehanna dropped their price objective on Diamondback Energy from $219.00 to $194.00 and set a "positive" rating on the stock in a research note on Tuesday. Three investment analysts have rated the stock with a hold rating, eighteen have issued a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price of $200.96.

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.