Distillate Capital Partners LLC Has $23.88 Million Holdings in Diamondback Energy, Inc. (NASDAQ:FANG)

Distillate Capital Partners LLC grew its position in shares of Diamondback Energy, Inc. (NASDAQ:FANG - Free Report) by 18.3% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 145,750 shares of the oil and natural gas company's stock after purchasing an additional 22,556 shares during the period. Diamondback Energy comprises about 1.2% of Distillate Capital Partners LLC's holdings, making the stock its 22nd largest holding. Distillate Capital Partners LLC's holdings in Diamondback Energy were worth $23,878,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Vestcor Inc raised its stake in Diamondback Energy by 16.6% during the third quarter. Vestcor Inc now owns 3,523 shares of the oil and natural gas company's stock valued at $607,000 after buying an additional 502 shares during the last quarter. Sunbelt Securities Inc. increased its stake in Diamondback Energy by 52.9% in the 3rd quarter. Sunbelt Securities Inc. now owns 3,235 shares of the oil and natural gas company's stock worth $558,000 after buying an additional 1,119 shares in the last quarter. Arete Wealth Advisors LLC purchased a new position in shares of Diamondback Energy in the third quarter worth $299,000. TD Private Client Wealth LLC grew its holdings in shares of Diamondback Energy by 10.4% in the third quarter. TD Private Client Wealth LLC now owns 6,131 shares of the oil and natural gas company's stock valued at $1,057,000 after purchasing an additional 578 shares in the last quarter. Finally, Virtu Financial LLC purchased a new stake in shares of Diamondback Energy during the 3rd quarter valued at about $1,215,000. Institutional investors own 90.01% of the company's stock.

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Diamondback Energy Stock Down 0.4 %

Shares of FANG traded down $0.50 during midday trading on Tuesday, reaching $127.14. 1,688,495 shares of the stock were exchanged, compared to its average volume of 2,069,629. The company has a market cap of $37.39 billion, a price-to-earnings ratio of 7.28, a P/E/G ratio of 1.24 and a beta of 1.44. The company has a quick ratio of 0.42, a current ratio of 0.45 and a debt-to-equity ratio of 0.31. Diamondback Energy, Inc. has a 12-month low of $114.00 and a 12-month high of $214.50. The firm has a 50 day simple moving average of $149.32 and a 200-day simple moving average of $165.96.

Diamondback Energy (NASDAQ:FANG - Get Free Report) last posted its earnings results on Tuesday, February 25th. The oil and natural gas company reported $3.64 earnings per share for the quarter, topping 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 analyst estimates of $3.55 billion. Research analysts forecast that Diamondback Energy, Inc. will post 15.49 EPS for the current year.

Diamondback Energy Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, March 13th. Shareholders of record on Thursday, March 6th were issued a $1.00 dividend. This represents a $4.00 annualized dividend and a yield of 3.15%. 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. Diamondback Energy's payout ratio is 25.32%.

Insider Activity

In other news, Director Frank D. Tsuru purchased 2,000 shares of Diamondback Energy stock in a transaction on Friday, February 28th. The shares were purchased at an average cost of $156.51 per share, for a total transaction of $313,020.00. Following the completion of the transaction, 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 purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 0.48% of the company's stock.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on the company. 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 research report on Wednesday, March 12th. UBS Group upped their price objective on shares of Diamondback Energy from $212.00 to $216.00 and gave the stock a "buy" rating in a research note on Thursday, February 13th. Williams Trading set a $190.00 price objective on shares of Diamondback Energy in a research note on Wednesday, March 5th. Citigroup raised Diamondback Energy from a "reduce" rating to a "buy" rating and boosted their price target for the stock from $157.00 to $180.00 in a research report on Monday, April 7th. Finally, Morgan Stanley reissued an "overweight" rating on shares of Diamondback Energy in a report on Tuesday. Three research analysts have rated the stock with a hold rating, nineteen have issued a buy rating and two have given a strong buy rating to the stock. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus target price of $208.17.

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.