Geode Capital Management LLC Raises Position in Diamondback Energy, Inc. (NASDAQ:FANG)

Geode Capital Management LLC lifted its stake in shares of Diamondback Energy, Inc. (NASDAQ:FANG - Free Report) by 2.0% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 4,710,165 shares of the oil and natural gas company's stock after purchasing an additional 91,605 shares during the quarter. Geode Capital Management LLC owned 1.61% of Diamondback Energy worth $769,706,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also added to or reduced their stakes in the company. Nemes Rush Group LLC increased its stake in shares of Diamondback Energy by 8.7% in the fourth quarter. Nemes Rush Group LLC now owns 6,170 shares of the oil and natural gas company's stock valued at $1,011,000 after buying an additional 496 shares during the period. HighPoint Advisor Group LLC raised its position in Diamondback Energy by 6.9% during the 4th quarter. HighPoint Advisor Group LLC now owns 4,051 shares of the oil and natural gas company's stock worth $656,000 after purchasing an additional 262 shares during the last quarter. Summit Financial LLC increased its position in Diamondback Energy by 1.9% during the 4th quarter. Summit Financial LLC now owns 67,783 shares of the oil and natural gas company's stock valued at $11,105,000 after purchasing an additional 1,258 shares during the period. Alliancebernstein L.P. lifted its position in shares of Diamondback Energy by 4.9% in the 4th quarter. Alliancebernstein L.P. now owns 231,979 shares of the oil and natural gas company's stock worth $38,005,000 after purchasing an additional 10,895 shares during the period. Finally, Everstar Asset Management LLC boosted its stake in shares of Diamondback Energy by 9.8% in the 4th quarter. Everstar Asset Management LLC now owns 2,227 shares of the oil and natural gas company's stock valued at $365,000 after purchasing an additional 199 shares during the last quarter. 90.01% of the stock is currently owned by institutional investors and hedge funds.

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Insider Buying and Selling at Diamondback Energy

In other news, Director Frank D. Tsuru acquired 2,000 shares of the business's stock in a transaction dated Friday, February 28th. The stock was bought 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 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 purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Insiders own 0.48% of the company's stock.

Diamondback Energy Stock Performance

NASDAQ FANG traded down $1.39 during trading on Monday, hitting $121.98. 2,253,941 shares of the company's stock traded hands, compared to its average volume of 2,007,852. The stock has a market capitalization of $35.31 billion, a price-to-earnings ratio of 6.94, a PEG ratio of 1.24 and a beta of 1.44. 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 business has a 50 day moving average of $155.91 and a 200-day moving average of $168.82. Diamondback Energy, Inc. has a 12-month low of $117.17 and a 12-month high of $214.50.

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 (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 business had revenue of $3.71 billion for the quarter, compared to analysts' expectations of $3.55 billion. As a group, equities research analysts anticipate 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. Shareholders of record on Thursday, March 6th were paid a $1.00 dividend. The ex-dividend date of this dividend was Thursday, March 6th. This represents a $4.00 annualized dividend and a yield of 3.28%. This is an increase from Diamondback Energy's previous quarterly dividend of $0.90. Diamondback Energy's dividend payout ratio (DPR) is currently 25.32%.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on FANG shares. Barclays dropped their target price on shares of Diamondback Energy from $210.00 to $200.00 and set an "overweight" rating on the stock in a report on Tuesday, March 18th. Wolfe Research upgraded shares of Diamondback Energy from a "peer perform" rating to an "outperform" rating and set a $190.00 price objective for the company in a research note on Friday, January 3rd. Wells Fargo & Company reduced their price target on shares of Diamondback Energy from $219.00 to $215.00 and set an "overweight" rating for the company in a report on Wednesday, March 12th. JPMorgan Chase & Co. cut 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 report on Thursday, March 13th. Finally, Williams Trading set a $190.00 target price on Diamondback Energy in a research note on Wednesday, March 5th. Three research analysts have rated the stock with a hold rating, nineteen have assigned a buy rating and two have given a strong buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $210.29.

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.