Assetmark Inc. Purchases 7,176 Shares of Diamondback Energy, Inc. (NASDAQ:FANG)

Assetmark Inc. boosted its position in Diamondback Energy, Inc. (NASDAQ:FANG - Free Report) by 3.7% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 198,828 shares of the oil and natural gas company's stock after purchasing an additional 7,176 shares during the period. Assetmark Inc. owned about 0.07% of Diamondback Energy worth $34,278,000 as of its most recent SEC filing.

Other hedge funds have also recently made changes to their positions in the company. Price T Rowe Associates Inc. MD boosted its stake in shares of Diamondback Energy by 38.2% during the first quarter. Price T Rowe Associates Inc. MD now owns 8,609,143 shares of the oil and natural gas company's stock valued at $1,706,076,000 after purchasing an additional 2,381,488 shares during the period. Boston Partners increased its stake in shares of Diamondback Energy by 235.6% in the 1st quarter. Boston Partners now owns 2,730,482 shares of the oil and natural gas company's stock worth $541,844,000 after acquiring an additional 1,916,900 shares in the last quarter. Homestead Advisers Corp bought a new position in shares of Diamondback Energy during the first quarter valued at approximately $87,940,000. Bank of New York Mellon Corp grew its stake in shares of Diamondback Energy by 16.0% in the 2nd quarter. Bank of New York Mellon Corp now owns 3,012,329 shares of the oil and natural gas company's stock worth $603,038,000 after buying an additional 415,902 shares during the last quarter. Finally, Canada Pension Plan Investment Board increased its holdings in shares of Diamondback Energy by 280.8% during the second quarter. Canada Pension Plan Investment Board now owns 545,202 shares of the oil and natural gas company's stock valued at $109,144,000 after acquiring an additional 402,026 shares in the last quarter. 90.01% of the stock is currently owned by institutional investors.

Diamondback Energy Trading Up 0.2 %

Diamondback Energy stock traded up $0.29 during mid-day trading on Friday, hitting $181.88. The company's stock had a trading volume of 2,579,217 shares, compared to its average volume of 1,845,321. The company has a debt-to-equity ratio of 0.31, a quick ratio of 3.64 and a current ratio of 0.45. The company has a 50 day moving average of $181.77 and a 200-day moving average of $192.25. Diamondback Energy, Inc. has a one year low of $145.70 and a one year high of $214.50. The stock has a market cap of $53.61 billion, a PE ratio of 10.41, a P/E/G ratio of 1.29 and a beta of 1.89.

Diamondback Energy (NASDAQ:FANG - Get Free Report) last posted its quarterly earnings results on Monday, November 4th. The oil and natural gas company reported $3.38 EPS for the quarter, missing analysts' consensus estimates of $4.62 by ($1.24). Diamondback Energy had a return on equity of 13.68% and a net margin of 33.64%. The company had revenue of $2.65 billion during the quarter, compared to the consensus estimate of $2.43 billion. During the same quarter in the previous year, the company posted $5.49 earnings per share. The company's revenue for the quarter was up 13.0% on a year-over-year basis. On average, research analysts anticipate that Diamondback Energy, Inc. will post 17.1 EPS for the current year.

Diamondback Energy Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, November 21st. Shareholders of record on Thursday, November 14th will be issued a dividend of $0.90 per share. The ex-dividend date of this dividend is Thursday, November 14th. This represents a $3.60 annualized dividend and a yield of 1.98%. Diamondback Energy's payout ratio is currently 20.61%.

Wall Street Analysts Forecast Growth

Several brokerages have commented on FANG. Sanford C. Bernstein cut their target price on Diamondback Energy from $243.00 to $236.00 and set an "outperform" rating on the stock in a research note on Wednesday, July 17th. BMO Capital Markets upgraded shares of Diamondback Energy from a "market perform" rating to an "outperform" rating and lifted their price target for the stock from $205.00 to $215.00 in a research note on Friday, October 4th. Royal Bank of Canada restated an "outperform" rating and set a $210.00 price objective on shares of Diamondback Energy in a research report on Wednesday. Wells Fargo & Company reissued a "sector outperform" rating on shares of Diamondback Energy in a report on Friday, October 18th. Finally, Johnson Rice downgraded Diamondback Energy from a "strong-buy" rating to a "moderate buy" rating in a research note on Tuesday, September 24th. Two investment analysts have rated the stock with a sell rating, four have given a hold rating, seventeen have assigned a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $209.64.

Insider Activity at Diamondback Energy

In other Diamondback Energy news, major shareholder Lyndal Greth sold 13,212,830 shares of the stock in a transaction dated Monday, September 23rd. The shares were sold at an average price of $175.11, for a total transaction of $2,313,698,661.30. Following the transaction, the insider now directly owns 1,037,819 shares in the company, valued at $181,732,485.09. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.48% of the stock is currently owned by corporate insiders.

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.