Capital World Investors Purchases 43,911 Shares of Diamondback Energy, Inc. (NASDAQ:FANG)

Capital World Investors boosted its stake in Diamondback Energy, Inc. (NASDAQ:FANG - Free Report) by 1,470.6% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 46,897 shares of the oil and natural gas company's stock after purchasing an additional 43,911 shares during the quarter. Capital World Investors' holdings in Diamondback Energy were worth $7,683,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Wintrust Investments LLC purchased a new stake in shares of Diamondback Energy in the fourth quarter worth about $28,000. R Squared Ltd bought a new stake in Diamondback Energy in the 4th quarter worth approximately $29,000. UMB Bank n.a. raised its holdings in shares of Diamondback Energy by 247.3% during the 4th quarter. UMB Bank n.a. now owns 191 shares of the oil and natural gas company's stock worth $31,000 after acquiring an additional 136 shares in the last quarter. Key Financial Inc boosted its position in shares of Diamondback Energy by 940.0% during the 4th quarter. Key Financial Inc now owns 208 shares of the oil and natural gas company's stock valued at $34,000 after acquiring an additional 188 shares during the last quarter. Finally, Rakuten Securities Inc. grew its holdings in shares of Diamondback Energy by 62.4% in the fourth quarter. Rakuten Securities Inc. now owns 276 shares of the oil and natural gas company's stock valued at $45,000 after purchasing an additional 106 shares in the last quarter. Institutional investors own 90.01% of the company's stock.

Analyst Upgrades and Downgrades

FANG has been the topic of a number of recent research reports. Morgan Stanley reaffirmed an "overweight" rating on shares of Diamondback Energy in a research note on Tuesday, April 15th. Susquehanna lowered their price target on shares of Diamondback Energy from $219.00 to $194.00 and set a "positive" rating for the company in a report on Tuesday. UBS Group reduced their price objective on Diamondback Energy from $175.00 to $163.00 and set a "buy" rating on the stock in a research note on Thursday, April 17th. Mizuho raised their price objective on Diamondback Energy from $201.00 to $204.00 and gave the company an "outperform" rating in a research note on Tuesday, February 25th. Finally, Raymond James dropped their target price on Diamondback Energy from $245.00 to $214.00 and set a "strong-buy" rating for the company in a report on Wednesday, March 12th. Three analysts have rated the stock with a hold rating, eighteen have issued a buy rating and two have issued a strong buy rating to the company's stock. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $200.96.

Diamondback Energy Trading Up 0.4 %

FANG traded up $0.60 during trading on Friday, hitting $136.76. 1,608,355 shares of the stock were exchanged, compared to its average volume of 2,093,456. Diamondback Energy, Inc. has a 1 year low of $114.00 and a 1 year high of $214.50. The firm has a market cap of $40.22 billion, a price-to-earnings ratio of 7.83, a P/E/G ratio of 1.24 and a beta of 1.44. The firm has a 50 day simple moving average of $145.44 and a 200 day simple moving average of $163.39. The company has a debt-to-equity ratio of 0.31, a quick ratio of 0.42 and a current ratio of 0.45.

Diamondback Energy (NASDAQ:FANG - Get Free Report) last released its quarterly earnings data on Tuesday, February 25th. The oil and natural gas company reported $3.64 earnings per share for the quarter, beating the consensus estimate 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 the consensus estimate of $3.55 billion. As a group, equities analysts expect that Diamondback Energy, Inc. will post 15.49 EPS for the current year.

Diamondback Energy Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, March 13th. Stockholders of record on Thursday, March 6th were paid a dividend of $1.00 per share. The ex-dividend date was Thursday, March 6th. This is an increase 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 2.92%. Diamondback Energy's dividend payout ratio (DPR) is currently 25.32%.

Insider Activity at Diamondback Energy

In related news, Director Frank D. Tsuru bought 2,000 shares of the stock in a transaction on Friday, February 28th. The stock was bought at an average price of $156.51 per share, for a total transaction of $313,020.00. Following the completion of the acquisition, 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 ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through 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.