BI Asset Management Fondsmaeglerselskab A S Boosts Stock Holdings in Diamondback Energy, Inc. (NASDAQ:FANG)

BI Asset Management Fondsmaeglerselskab A S boosted its stake in Diamondback Energy, Inc. (NASDAQ:FANG - Free Report) by 44.3% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 51,522 shares of the oil and natural gas company's stock after buying an additional 15,809 shares during the period. BI Asset Management Fondsmaeglerselskab A S's holdings in Diamondback Energy were worth $8,441,000 at the end of the most recent quarter.

Several other large investors have also recently made changes to their positions in the stock. QRG Capital Management Inc. increased its stake in Diamondback Energy by 38.4% during the 4th quarter. QRG Capital Management Inc. now owns 11,675 shares of the oil and natural gas company's stock worth $1,913,000 after buying an additional 3,238 shares during the period. Swedbank AB grew its stake in shares of Diamondback Energy by 28.0% in the fourth quarter. Swedbank AB now owns 198,283 shares of the oil and natural gas company's stock worth $32,485,000 after acquiring an additional 43,361 shares in the last quarter. Tokio Marine Asset Management Co. Ltd. increased its position in shares of Diamondback Energy by 631.1% during the fourth quarter. Tokio Marine Asset Management Co. Ltd. now owns 43,148 shares of the oil and natural gas company's stock worth $7,069,000 after acquiring an additional 37,246 shares during the period. Franklin Resources Inc. raised its stake in shares of Diamondback Energy by 48.5% in the third quarter. Franklin Resources Inc. now owns 146,870 shares of the oil and natural gas company's stock valued at $28,008,000 after acquiring an additional 47,951 shares in the last quarter. Finally, Tectonic Advisors LLC boosted its holdings in Diamondback Energy by 38.2% in the fourth quarter. Tectonic Advisors LLC now owns 31,467 shares of the oil and natural gas company's stock valued at $5,155,000 after purchasing an additional 8,704 shares during the period. 90.01% of the stock is currently owned by institutional investors and hedge funds.

Diamondback Energy Stock Performance

Shares of NASDAQ:FANG traded up $0.62 on Thursday, reaching $136.16. The company's stock had a trading volume of 2,053,924 shares, compared to its average volume of 2,092,185. The company has a debt-to-equity ratio of 0.31, a current ratio of 0.45 and a quick ratio of 0.42. Diamondback Energy, Inc. has a 52-week low of $114.00 and a 52-week high of $214.50. The stock's 50-day moving average is $145.86 and its two-hundred day moving average is $163.83. The stock has a market capitalization of $40.04 billion, a P/E ratio of 7.79, a PEG ratio of 1.24 and a beta of 1.44.

Diamondback Energy (NASDAQ:FANG - Get Free Report) last posted its quarterly earnings data on Tuesday, February 25th. The oil and natural gas company reported $3.64 earnings per share for the quarter, beating analysts' consensus estimates of $3.57 by $0.07. The firm had revenue of $3.71 billion for the quarter, compared to analyst estimates of $3.55 billion. Diamondback Energy had a net margin of 33.64% and a return on equity of 13.68%. As a group, sell-side 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 was paid on Thursday, March 13th. Shareholders of record on Thursday, March 6th were given a dividend of $1.00 per share. This is a positive change from Diamondback Energy's previous quarterly dividend of $0.90. This represents a $4.00 annualized dividend and a dividend yield of 2.94%. The ex-dividend date was Thursday, March 6th. Diamondback Energy's payout ratio is presently 25.32%.

Insider Transactions at Diamondback Energy

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 purchased at an average cost of $156.51 per share, with a total value of $313,020.00. Following the completion of the acquisition, the director now 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 SEC, which is available through the SEC website. Corporate insiders own 0.48% of the company's stock.

Wall Street Analysts Forecast Growth

FANG has been the topic of a number of analyst reports. Morgan Stanley reaffirmed an "overweight" rating on shares of Diamondback Energy in a research report on Tuesday, April 15th. Raymond James lowered their price target on shares of Diamondback Energy from $245.00 to $214.00 and set a "strong-buy" rating for the company in a report on Wednesday, March 12th. UBS Group reduced their price objective on shares of Diamondback Energy from $175.00 to $163.00 and set a "buy" rating on the stock in a report on Thursday, April 17th. Wolfe Research upgraded shares of Diamondback Energy from a "peer perform" rating to an "outperform" rating and set a $190.00 target price for the company in a research note on Friday, January 3rd. Finally, Barclays cut their price target on Diamondback Energy from $200.00 to $185.00 and set an "overweight" rating on the stock in a research note on Wednesday. Three equities research analysts have rated the stock with a hold rating, eighteen have assigned a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target 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.