Artisan Partners Limited Partnership Buys 456,553 Shares of Diamondback Energy, Inc. (NASDAQ:FANG)

Artisan Partners Limited Partnership grew its holdings in Diamondback Energy, Inc. (NASDAQ:FANG - Free Report) by 33,693.9% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 457,908 shares of the oil and natural gas company's stock after purchasing an additional 456,553 shares during the quarter. Artisan Partners Limited Partnership owned about 0.16% of Diamondback Energy worth $75,019,000 as of its most recent filing with the SEC.

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

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Insider Transactions at Diamondback Energy

In other Diamondback Energy news, Director Frank D. Tsuru acquired 2,000 shares of the business's stock in a transaction dated Friday, February 28th. The stock was bought at an average cost of $156.51 per share, with a total value of $313,020.00. Following the completion of the transaction, the director now directly owns 5,730 shares in the company, valued at approximately $896,802.30. This represents a 53.62 % increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 0.48% of the stock is owned by company insiders.

Diamondback Energy Stock Up 0.6 %

FANG traded up $0.99 on Tuesday, hitting $160.87. 1,455,942 shares of the company were exchanged, compared to its average volume of 1,973,611. The stock's fifty day moving average is $157.93 and its 200-day moving average is $169.57. Diamondback Energy, Inc. has a 12 month low of $137.09 and a 12 month high of $214.50. 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 company has a market cap of $46.56 billion, a PE ratio of 9.21, a PEG ratio of 1.24 and a beta of 1.85.

Diamondback Energy (NASDAQ:FANG - Get Free Report) last announced its quarterly earnings data on Tuesday, February 25th. The oil and natural gas company reported $3.64 earnings per share (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 company had revenue of $3.71 billion for the quarter, compared to analysts' expectations of $3.55 billion. Equities research analysts predict that Diamondback Energy, Inc. will post 15.49 EPS for the current fiscal year.

Diamondback Energy Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, March 13th. Stockholders of record on Thursday, March 6th were given a $1.00 dividend. This represents a $4.00 dividend on an annualized basis and a dividend yield of 2.49%. 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. Diamondback Energy's dividend payout ratio (DPR) is 25.32%.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on the company. Truist Financial upped their price objective on Diamondback Energy from $236.00 to $238.00 and gave the company a "buy" rating in a report on Wednesday, February 19th. 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 research report on Wednesday, March 12th. JPMorgan Chase & Co. cut their target price on shares of Diamondback Energy from $212.00 to $167.00 and set an "overweight" rating on the stock in a report on Thursday, March 13th. Royal Bank of Canada reissued an "outperform" rating and issued a $210.00 price target on shares of Diamondback Energy in a report on Thursday, January 23rd. Finally, Wolfe Research raised Diamondback Energy from a "peer perform" rating to an "outperform" rating and set a $190.00 price objective on the stock in a research note on Friday, January 3rd. Four research analysts have rated the stock with a hold rating, eighteen have issued a buy rating and two have assigned a strong buy rating to the company's stock. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $209.33.

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.