Boston Partners Purchases 571,820 Shares of Diamondback Energy, Inc. (NASDAQ:FANG)

Boston Partners lifted its holdings in shares of Diamondback Energy, Inc. (NASDAQ:FANG - Free Report) by 12.4% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 5,169,742 shares of the oil and natural gas company's stock after acquiring an additional 571,820 shares during the quarter. Diamondback Energy comprises approximately 1.0% of Boston Partners' holdings, making the stock its 14th biggest holding. Boston Partners owned approximately 1.77% of Diamondback Energy worth $849,202,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. State Street Corp boosted its stake in Diamondback Energy by 1.3% during the 3rd 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 purchasing an additional 149,871 shares during the period. Geode Capital Management LLC lifted its stake in Diamondback Energy by 6.1% during the third 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 purchasing an additional 266,299 shares during the last quarter. Bank of New York Mellon Corp lifted its stake in Diamondback Energy by 13.7% during the fourth 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. Diamond Hill Capital Management Inc. lifted its stake in Diamondback Energy by 30.5% during the fourth quarter. Diamond Hill Capital Management Inc. now owns 2,817,554 shares of the oil and natural gas company's stock valued at $461,600,000 after purchasing an additional 658,644 shares during the last quarter. Finally, Pacer Advisors Inc. lifted its stake in Diamondback Energy by 9.3% during the third quarter. Pacer Advisors Inc. now owns 2,704,520 shares of the oil and natural gas company's stock valued at $466,259,000 after purchasing an additional 230,689 shares during the last quarter. Hedge funds and other institutional investors own 90.01% of the company's stock.

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Analyst Ratings Changes

FANG has been the topic of a number of recent analyst reports. Wells Fargo & Company cut their price target on shares of Diamondback Energy from $219.00 to $215.00 and set an "overweight" rating on the stock in a report on Wednesday, March 12th. Royal Bank of Canada reissued an "outperform" rating and issued a $210.00 target price on shares of Diamondback Energy in a research report on Thursday, January 23rd. UBS Group boosted their target price on shares of Diamondback Energy from $212.00 to $216.00 and gave the stock a "buy" rating in a research report on Thursday, February 13th. Raymond James decreased their price objective 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. Finally, Williams Trading set a $190.00 price objective on shares of Diamondback Energy in a report on Wednesday, March 5th. Four research analysts have rated the stock with a hold rating, eighteen have given a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target of $209.92.

Diamondback Energy Price Performance

FANG stock traded up $0.02 during mid-day trading on Friday, reaching $158.50. 7,798,113 shares of the company traded hands, compared to its average volume of 1,871,369. Diamondback Energy, Inc. has a 52-week low of $137.09 and a 52-week high of $214.50. The company has a debt-to-equity ratio of 0.31, a current ratio of 0.45 and a quick ratio of 0.42. The company has a market capitalization of $45.88 billion, a P/E ratio of 9.07, a P/E/G ratio of 1.24 and a beta of 1.85. The company has a fifty day moving average price of $160.47 and a 200-day moving average price of $170.51.

Diamondback Energy (NASDAQ:FANG - Get Free Report) last issued its earnings results on Tuesday, February 25th. The oil and natural gas company reported $3.64 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.57 by $0.07. The business had revenue of $3.71 billion during 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, analysts anticipate that Diamondback Energy, Inc. will post 15.49 earnings per share for the current year.

Diamondback Energy Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, March 13th. Stockholders of record on Thursday, March 6th were paid a $1.00 dividend. This is a boost from Diamondback Energy's previous quarterly dividend of $0.90. This represents a $4.00 dividend on an annualized basis and a dividend yield of 2.52%. The ex-dividend date was Thursday, March 6th. Diamondback Energy's dividend payout ratio is currently 25.32%.

Insider Transactions at Diamondback Energy

In related news, Director Frank D. Tsuru acquired 2,000 shares of the firm's stock in a transaction dated Friday, February 28th. The shares were purchased 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 directly owns 5,730 shares of the company's stock, valued at $896,802.30. This represents a 53.62 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 0.48% of the company's stock.

About Diamondback Energy

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.