9,459 Shares in Diamondback Energy, Inc. (NASDAQ:FANG) Purchased by AMF Tjanstepension AB

AMF Tjanstepension AB purchased a new position in shares of Diamondback Energy, Inc. (NASDAQ:FANG - Free Report) during the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor purchased 9,459 shares of the oil and natural gas company's stock, valued at approximately $1,551,000.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. State Street Corp grew its holdings in shares of Diamondback Energy by 1.3% during the third quarter. State Street Corp now owns 11,858,555 shares of the oil and natural gas company's stock valued at $2,044,415,000 after buying an additional 149,871 shares during the last quarter. Geode Capital Management LLC lifted its position in Diamondback Energy by 6.1% in the 3rd quarter. Geode Capital Management LLC now owns 4,618,560 shares of the oil and natural gas company's stock valued at $793,611,000 after acquiring an additional 266,299 shares in the last quarter. Bank of New York Mellon Corp boosted its stake in Diamondback Energy by 13.7% during the 4th quarter. Bank of New York Mellon Corp now owns 4,163,070 shares of the oil and natural gas company's stock valued at $682,036,000 after purchasing an additional 502,916 shares during the last quarter. Pacer Advisors Inc. increased its holdings in Diamondback Energy by 9.3% during the 3rd quarter. Pacer Advisors Inc. now owns 2,704,520 shares of the oil and natural gas company's stock worth $466,259,000 after purchasing an additional 230,689 shares in the last quarter. Finally, Diamond Hill Capital Management Inc. raised its stake in shares of Diamondback Energy by 25.6% in the third quarter. Diamond Hill Capital Management Inc. now owns 2,158,910 shares of the oil and natural gas company's stock worth $372,196,000 after purchasing an additional 439,579 shares during the last quarter. Institutional investors own 90.01% of the company's stock.

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Insider Activity

In other news, Director Frank D. Tsuru acquired 2,000 shares of Diamondback Energy stock in a transaction that occurred on Friday, February 28th. The stock was bought at an average price of $156.51 per share, with a total value of $313,020.00. Following the completion of the purchase, the director now owns 5,730 shares in the company, valued at approximately $896,802.30. The trade was a 53.62 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through this link. Company insiders own 0.48% of the company's stock.

Diamondback Energy Stock Performance

FANG traded up $1.90 on Wednesday, hitting $146.55. The company's stock had a trading volume of 2,276,407 shares, compared to its average volume of 2,465,161. Diamondback Energy, Inc. has a 12 month low of $137.09 and a 12 month high of $214.50. The firm has a market cap of $42.42 billion, a P/E ratio of 8.39, a price-to-earnings-growth ratio of 1.24 and a beta of 1.84. 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 $163.18 and its 200-day simple moving average is $172.54.

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

Diamondback Energy Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, March 13th. Shareholders of record on Thursday, March 6th will be issued a dividend of $1.00 per share. This represents a $4.00 dividend on an annualized basis and a yield of 2.73%. The ex-dividend date is Thursday, March 6th. This is a positive change from Diamondback Energy's previous quarterly dividend of $0.90. Diamondback Energy's payout ratio is presently 25.32%.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on FANG. Wolfe Research upgraded Diamondback Energy from a "peer perform" rating to an "outperform" rating and set a $190.00 price target for the company in a report on Friday, January 3rd. UBS Group lifted their price objective on shares of Diamondback Energy from $212.00 to $216.00 and gave the stock a "buy" rating in a report on Thursday, February 13th. JPMorgan Chase & Co. increased their target price on shares of Diamondback Energy from $191.00 to $195.00 and gave the company an "overweight" rating in a report on Friday, January 17th. StockNews.com upgraded shares of Diamondback Energy from a "sell" rating to a "hold" rating in a report on Wednesday, November 13th. Finally, Citigroup lowered shares of Diamondback Energy from a "buy" rating to a "reduce" rating in a research note on Wednesday, March 5th. One research analyst has rated the stock with a sell rating, three have given a hold rating, eighteen have given a buy rating and two have issued a strong buy rating to the company. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $213.08.

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.