Envestnet Asset Management Inc. Decreases Stock Position in Diamondback Energy, Inc. (NASDAQ:FANG)

Envestnet Asset Management Inc. reduced its holdings in Diamondback Energy, Inc. (NASDAQ:FANG - Free Report) by 6.2% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 579,698 shares of the oil and natural gas company's stock after selling 38,287 shares during the period. Envestnet Asset Management Inc. owned approximately 0.20% of Diamondback Energy worth $94,972,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Quantinno Capital Management LP raised its holdings in shares of Diamondback Energy by 22.4% during the 3rd quarter. Quantinno Capital Management LP now owns 14,716 shares of the oil and natural gas company's stock worth $2,537,000 after acquiring an additional 2,689 shares during the period. Kovitz Investment Group Partners LLC raised its stake in Diamondback Energy by 74.9% during the third quarter. Kovitz Investment Group Partners LLC now owns 10,755 shares of the oil and natural gas company's stock worth $1,854,000 after purchasing an additional 4,607 shares during the period. EP Wealth Advisors LLC acquired a new position in Diamondback Energy in the 3rd quarter valued at about $941,000. XTX Topco Ltd grew its stake in shares of Diamondback Energy by 111.2% in the 3rd quarter. XTX Topco Ltd now owns 6,088 shares of the oil and natural gas company's stock valued at $1,050,000 after buying an additional 3,206 shares during the period. Finally, Nomura Asset Management Co. Ltd. increased its holdings in shares of Diamondback Energy by 20.6% during the 3rd quarter. Nomura Asset Management Co. Ltd. now owns 63,969 shares of the oil and natural gas company's stock worth $11,028,000 after buying an additional 10,924 shares during the last quarter. 90.01% of the stock is currently owned by institutional investors and hedge funds.

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Analysts Set New Price Targets

Several research analysts recently weighed in on FANG shares. Royal Bank of Canada reiterated an "outperform" rating and issued a $210.00 price objective on shares of Diamondback Energy in a research report on Thursday, January 23rd. Raymond James cut their price objective 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. Wolfe Research raised shares of Diamondback Energy from a "peer perform" rating to an "outperform" rating and set a $190.00 target price on the stock in a research report on Friday, January 3rd. Mizuho lifted their price target on shares of Diamondback Energy from $201.00 to $204.00 and gave the company an "outperform" rating in a research report on Tuesday, February 25th. Finally, JPMorgan Chase & Co. reduced their price target on shares of Diamondback Energy from $167.00 to $166.00 and set an "overweight" rating on the stock in a research note on Thursday. Three equities research analysts have rated the stock with a hold rating, nineteen have assigned a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $208.17.

Insider Buying and Selling

In other news, Director Frank D. Tsuru purchased 2,000 shares of the company's stock in a transaction dated Friday, February 28th. The shares were acquired at an average cost of $156.51 per share, for a total transaction of $313,020.00. Following the completion of the purchase, the director now directly owns 5,730 shares in the company, valued at $896,802.30. The trade was a 53.62 % increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 0.48% of the company's stock.

Diamondback Energy Stock Up 0.1 %

Shares of FANG traded up $0.12 during mid-day trading on Monday, reaching $129.13. The company's stock had a trading volume of 547,641 shares, compared to its average volume of 2,060,144. The company has a debt-to-equity ratio of 0.31, a current ratio of 0.45 and a quick ratio of 0.42. Diamondback Energy, Inc. has a 12-month low of $114.00 and a 12-month high of $214.50. The stock has a market cap of $37.97 billion, a PE ratio of 7.39, a price-to-earnings-growth ratio of 1.24 and a beta of 1.44. The company's 50 day moving average is $150.06 and its 200 day moving average is $166.26.

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 EPS for the quarter, beating analysts' consensus estimates of $3.57 by $0.07. Diamondback Energy had a net margin of 33.64% and a return on equity of 13.68%. The firm had revenue of $3.71 billion for the quarter, compared to the consensus estimate of $3.55 billion. Equities analysts anticipate that Diamondback Energy, Inc. will post 15.49 EPS for the current fiscal year.

Diamondback Energy Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, March 13th. Shareholders of record on Thursday, March 6th were given a dividend of $1.00 per share. This is an increase from Diamondback Energy's previous quarterly dividend of $0.90. This represents a $4.00 annualized dividend and a yield of 3.10%. The ex-dividend date of this dividend was Thursday, March 6th. Diamondback Energy's dividend payout ratio (DPR) is presently 25.32%.

Diamondback Energy Company 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.