Diamondback Energy, Inc. (NASDAQ:FANG) Shares Sold by Marshall Wace LLP

Marshall Wace LLP cut its holdings in Diamondback Energy, Inc. (NASDAQ:FANG - Free Report) by 82.8% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 119,332 shares of the oil and natural gas company's stock after selling 575,455 shares during the quarter. Marshall Wace LLP's holdings in Diamondback Energy were worth $19,550,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also made changes to their positions in FANG. Lakewood Asset Management LLC increased its position in Diamondback Energy by 0.5% during the 4th quarter. Lakewood Asset Management LLC now owns 11,340 shares of the oil and natural gas company's stock worth $1,858,000 after purchasing an additional 60 shares during the period. Magnolia Capital Advisors LLC increased its stake in Diamondback Energy by 2.0% in the 4th quarter. Magnolia Capital Advisors LLC now owns 3,247 shares of the oil and natural gas company's stock valued at $532,000 after purchasing an additional 64 shares in the last quarter. Barden Capital Management Inc. increased its stake in Diamondback Energy by 1.5% in the 4th quarter. Barden Capital Management Inc. now owns 4,380 shares of the oil and natural gas company's stock valued at $718,000 after purchasing an additional 64 shares in the last quarter. Greenleaf Trust boosted its position in Diamondback Energy by 1.0% during the fourth quarter. Greenleaf Trust now owns 6,892 shares of the oil and natural gas company's stock worth $1,129,000 after purchasing an additional 66 shares in the last quarter. Finally, Buckhead Capital Management LLC boosted its position in Diamondback Energy by 0.3% during the fourth quarter. Buckhead Capital Management LLC now owns 19,830 shares of the oil and natural gas company's stock worth $3,249,000 after purchasing an additional 67 shares in the last quarter. 90.01% of the stock is owned by hedge funds and other institutional investors.

Diamondback Energy Stock Performance

Shares of NASDAQ FANG traded up $0.62 during trading on Thursday, reaching $136.16. The stock had a trading volume of 2,053,846 shares, compared to its average volume of 2,092,183. The company has a debt-to-equity ratio of 0.31, a quick ratio of 0.42 and a current ratio of 0.45. The stock has a market cap of $40.04 billion, a PE ratio of 7.79, a P/E/G ratio of 1.24 and a beta of 1.44. Diamondback Energy, Inc. has a one year low of $114.00 and a one year high of $214.50. The firm's 50 day moving average price is $145.86 and its two-hundred day moving average price is $163.83.

Diamondback Energy (NASDAQ:FANG - Get Free Report) last issued its 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. Diamondback Energy had a net margin of 33.64% and a return on equity of 13.68%. The company had revenue of $3.71 billion for the quarter, compared to analysts' expectations of $3.55 billion. On average, research analysts forecast that Diamondback Energy, Inc. will post 15.49 earnings per share for the current fiscal year.

Diamondback Energy Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, March 13th. Stockholders of record on Thursday, March 6th were issued a dividend of $1.00 per share. The ex-dividend date 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 dividend yield of 2.94%. Diamondback Energy's dividend payout ratio is 25.32%.

Analyst Upgrades and Downgrades

Several analysts have issued reports on FANG shares. Mizuho upped their price target on shares of Diamondback Energy from $201.00 to $204.00 and gave the company an "outperform" rating in a report on Tuesday, February 25th. JPMorgan Chase & Co. reduced their target price on Diamondback Energy from $167.00 to $166.00 and set an "overweight" rating on the stock in a research note on Thursday, April 10th. Truist Financial raised their price target on Diamondback Energy from $238.00 to $242.00 and gave the stock a "buy" rating in a research report on Thursday, April 17th. Raymond James reduced their price objective on Diamondback Energy from $245.00 to $214.00 and set a "strong-buy" rating on the stock in a research report on Wednesday, March 12th. Finally, Citigroup upgraded Diamondback Energy from a "reduce" rating to a "buy" rating and lifted their price objective for the stock from $157.00 to $180.00 in a research report on Monday, April 7th. Three analysts have rated the stock with a hold rating, eighteen have given a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat, Diamondback Energy has an average rating of "Moderate Buy" and a consensus price target of $200.96.

Insider Transactions at Diamondback Energy

In other news, Director Frank D. Tsuru purchased 2,000 shares of Diamondback Energy stock in a transaction dated Friday, February 28th. The stock was bought at an average price of $156.51 per share, with a total value of $313,020.00. Following the completion of the acquisition, the director now 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 legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.48% of the company's stock.

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.