Diamond Hill Capital Management Inc. Has $372.20 Million Stock Position in Diamondback Energy, Inc. (NASDAQ:FANG)

Diamond Hill Capital Management Inc. increased its stake in shares of Diamondback Energy, Inc. (NASDAQ:FANG - Free Report) by 25.6% in the third quarter, according to its most recent 13F filing with the SEC. The firm owned 2,158,910 shares of the oil and natural gas company's stock after purchasing an additional 439,579 shares during the period. Diamondback Energy makes up approximately 1.5% of Diamond Hill Capital Management Inc.'s investment portfolio, making the stock its 28th largest position. Diamond Hill Capital Management Inc. owned 0.73% of Diamondback Energy worth $372,196,000 at the end of the most recent reporting period.

Several other institutional investors have also recently added to or reduced their stakes in the stock. Price T Rowe Associates Inc. MD increased its holdings in shares of Diamondback Energy by 38.2% in the 1st 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 acquiring an additional 2,381,488 shares during the last quarter. Boston Partners grew its position 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 valued at $541,844,000 after buying an additional 1,916,900 shares during the last quarter. Homestead Advisers Corp purchased a new stake in Diamondback Energy in the first quarter valued at $87,940,000. Bank of New York Mellon Corp boosted its stake in Diamondback Energy by 16.0% in the second quarter. Bank of New York Mellon Corp now owns 3,012,329 shares of the oil and natural gas company's stock valued at $603,038,000 after acquiring an additional 415,902 shares in the last quarter. Finally, Canada Pension Plan Investment Board increased its position 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 worth $109,144,000 after purchasing an additional 402,026 shares in the last quarter. Institutional investors and hedge funds own 90.01% of the company's stock.

Diamondback Energy Price Performance

Diamondback Energy stock traded down $1.64 during midday trading on Monday, hitting $180.24. The company's stock had a trading volume of 883,760 shares, compared to its average volume of 1,745,447. Diamondback Energy, Inc. has a 12 month low of $145.70 and a 12 month high of $214.50. The stock's 50-day moving average price is $181.77 and its 200-day moving average price is $192.15. The company has a market capitalization of $53.12 billion, a PE ratio of 10.41, a price-to-earnings-growth ratio of 1.28 and a beta of 1.89. The company has a quick ratio of 3.64, a current ratio of 0.45 and a debt-to-equity ratio of 0.31.

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 the consensus estimate 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 for the quarter, compared to analyst estimates of $2.43 billion. During the same quarter in the prior year, the business posted $5.49 earnings per share. The business's revenue for the quarter was up 13.0% compared to the same quarter last year. Analysts anticipate that Diamondback Energy, Inc. will post 17 earnings per share for the current fiscal year.

Diamondback Energy Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, November 21st. Investors of record on Thursday, November 14th will be given 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 dividend yield of 2.00%. Diamondback Energy's dividend payout ratio (DPR) is presently 20.61%.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on FANG shares. Jefferies Financial Group initiated coverage on shares of Diamondback Energy in a report on Monday, September 16th. They issued a "hold" rating and a $185.00 target price on the stock. StockNews.com downgraded Diamondback Energy from a "hold" rating to a "sell" rating in a research note on Tuesday, November 5th. Susquehanna cut their price objective on shares of Diamondback Energy from $237.00 to $233.00 and set a "positive" rating for the company in a research report on Friday, October 18th. Wells Fargo & Company reaffirmed a "sector outperform" rating on shares of Diamondback Energy in a report on Friday, October 18th. Finally, Johnson Rice cut shares of Diamondback Energy from a "strong-buy" rating to a "moderate buy" rating in a report on Tuesday, September 24th. Two investment analysts have rated the stock with a sell rating, four have assigned a hold rating, seventeen have assigned a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat.com, Diamondback Energy 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 on Monday, September 23rd. The shares were sold at an average price of $175.11, for a total value of $2,313,698,661.30. Following the sale, the insider now directly owns 1,037,819 shares in the company, valued at approximately $181,732,485.09. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. 0.48% of the stock is currently owned by insiders.

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.