Diamondback Energy, Inc. (NASDAQ:FANG) Shares Purchased by Harvest Fund Management Co. Ltd

Harvest Fund Management Co. Ltd boosted its position in Diamondback Energy, Inc. (NASDAQ:FANG - Free Report) by 103.8% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 17,386 shares of the oil and natural gas company's stock after acquiring an additional 8,856 shares during the period. Harvest Fund Management Co. Ltd's holdings in Diamondback Energy were worth $2,707,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Lakewood Asset Management LLC grew its position in Diamondback Energy by 0.5% in the fourth quarter. Lakewood Asset Management LLC now owns 11,340 shares of the oil and natural gas company's stock valued at $1,858,000 after purchasing an additional 60 shares in the last quarter. West Family Investments Inc. boosted its stake in shares of Diamondback Energy by 3.4% during the 3rd quarter. West Family Investments Inc. now owns 1,852 shares of the oil and natural gas company's stock worth $319,000 after buying an additional 61 shares during the last quarter. Magnolia Capital Advisors LLC grew its holdings in shares of 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 acquiring an additional 64 shares in the last quarter. Barden Capital Management Inc. increased its position in shares of Diamondback Energy by 1.5% in the fourth quarter. Barden Capital Management Inc. now owns 4,380 shares of the oil and natural gas company's stock valued at $718,000 after acquiring an additional 64 shares during the last quarter. Finally, Citizens Financial Group Inc. RI raised its holdings in Diamondback Energy by 2.4% during the third quarter. Citizens Financial Group Inc. RI now owns 2,795 shares of the oil and natural gas company's stock worth $482,000 after acquiring an additional 65 shares in the last quarter. 90.01% of the stock is currently owned by institutional investors and hedge funds.

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Insider Transactions at Diamondback Energy

In other Diamondback Energy news, Director Frank D. Tsuru purchased 2,000 shares of the firm's stock in a transaction dated Friday, February 28th. The shares were acquired at an average price of $156.51 per share, with a total value of $313,020.00. Following the purchase, the director now directly owns 5,730 shares in the company, valued at approximately $896,802.30. This trade represents a 53.62 % increase in their position. The purchase was disclosed in a document filed with the SEC, which is available at the SEC website. Insiders own 0.48% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on the company. Wolfe Research upgraded Diamondback Energy from a "peer perform" rating to an "outperform" rating and set a $190.00 price target for the company in a research note on Friday, January 3rd. Williams Trading set a $190.00 target price on shares of Diamondback Energy in a research note on Wednesday, March 5th. Barclays dropped their price target 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. Citigroup cut their price target on shares of Diamondback Energy from $195.00 to $157.00 and set a "neutral" rating for the company in a research note on Monday, March 17th. Finally, JPMorgan Chase & Co. lowered their price objective on shares of Diamondback Energy from $212.00 to $167.00 and set an "overweight" rating on the stock in a research note on Thursday, March 13th. Four analysts have rated the stock with a hold rating, eighteen have given a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $209.92.

Diamondback Energy Stock Up 1.6 %

NASDAQ:FANG traded up $2.51 during mid-day trading on Monday, reaching $161.01. The company's stock had a trading volume of 2,042,245 shares, compared to its average volume of 1,875,216. 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 1 year low of $137.09 and a 1 year high of $214.50. The stock has a fifty day moving average of $160.47 and a 200-day moving average of $170.29. The firm has a market capitalization of $46.60 billion, a PE ratio of 9.22, a price-to-earnings-growth ratio of 1.24 and a beta of 1.85.

Diamondback Energy (NASDAQ:FANG - Get Free Report) last posted its quarterly earnings results on Tuesday, February 25th. The oil and natural gas company reported $3.64 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $3.57 by $0.07. The business had revenue of $3.71 billion during the quarter, compared to analysts' expectations of $3.55 billion. Diamondback Energy had a net margin of 33.64% and a return on equity of 13.68%. Equities research analysts forecast 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. Stockholders of record on Thursday, March 6th were given a $1.00 dividend. This represents a $4.00 dividend on an annualized basis and a dividend yield of 2.48%. This is a boost from Diamondback Energy's previous quarterly dividend of $0.90. The ex-dividend date of this dividend was Thursday, March 6th. Diamondback Energy's dividend payout ratio is 25.32%.

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.