Alliancebernstein L.P. Has $38.01 Million Stock Holdings in Diamondback Energy, Inc. (NASDAQ:FANG)

Alliancebernstein L.P. grew its holdings in Diamondback Energy, Inc. (NASDAQ:FANG - Free Report) by 4.9% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 231,979 shares of the oil and natural gas company's stock after purchasing an additional 10,895 shares during the quarter. Alliancebernstein L.P. owned approximately 0.08% of Diamondback Energy worth $38,005,000 at the end of the most recent quarter.

Several other large investors have also modified their holdings of the business. State Street Corp grew its position in shares of Diamondback Energy by 1.3% in the third 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 last quarter. Boston Partners grew its position in shares of Diamondback Energy by 12.4% in the fourth quarter. Boston Partners now owns 5,169,742 shares of the oil and natural gas company's stock valued at $849,202,000 after purchasing an additional 571,820 shares during the last quarter. Geode Capital Management LLC grew its position in shares of Diamondback Energy by 6.1% in 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 grew its position in shares of Diamondback Energy by 13.7% in 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. Finally, Diamond Hill Capital Management Inc. boosted its position 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 worth $461,600,000 after acquiring an additional 658,644 shares during the last quarter. 90.01% of the stock is currently owned by institutional investors and hedge funds.

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Insider Activity at Diamondback Energy

In other news, Director Frank D. Tsuru purchased 2,000 shares of the business's stock in a transaction dated Friday, February 28th. The shares were acquired 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 of the company's stock, valued at $896,802.30. The trade was a 53.62 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Company insiders own 0.48% of the company's stock.

Diamondback Energy Stock Performance

NASDAQ FANG traded down $12.33 on Thursday, hitting $122.60. The stock had a trading volume of 848,491 shares, compared to its average volume of 2,036,281. Diamondback Energy, Inc. has a one year low of $114.00 and a one year high of $214.50. The company has a quick ratio of 0.42, a current ratio of 0.45 and a debt-to-equity ratio of 0.31. The stock has a market cap of $35.49 billion, a price-to-earnings ratio of 7.03, a P/E/G ratio of 1.24 and a beta of 1.44. The company's 50-day moving average is $151.63 and its two-hundred day moving average is $167.07.

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

Diamondback Energy Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, March 13th. Investors of record on Thursday, March 6th were paid a dividend of $1.00 per share. The ex-dividend date of this dividend was Thursday, March 6th. This is a positive change from Diamondback Energy's previous quarterly dividend of $0.90. This represents a $4.00 annualized dividend and a yield of 3.26%. Diamondback Energy's dividend payout ratio is currently 25.32%.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on FANG shares. Mizuho raised their target price on shares of Diamondback Energy from $201.00 to $204.00 and gave the stock an "outperform" rating in a research report on Tuesday, February 25th. Wells Fargo & Company decreased their target price on shares of Diamondback Energy from $219.00 to $215.00 and set an "overweight" rating on the stock in a research report on Wednesday, March 12th. Royal Bank of Canada restated an "outperform" rating and set a $210.00 target price on shares of Diamondback Energy in a research report on Thursday, January 23rd. Barclays decreased their target price on shares of Diamondback Energy from $210.00 to $200.00 and set an "overweight" rating on the stock in a research report on Tuesday, March 18th. Finally, UBS Group raised 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. Three analysts have rated the stock with a hold rating, nineteen have issued a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat.com, Diamondback Energy has an average rating of "Moderate Buy" and an average price target of $210.25.

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.