DnB Asset Management AS Has $36.43 Million Position in Diamondback Energy, Inc. (NASDAQ:FANG)

DnB Asset Management AS decreased its holdings in Diamondback Energy, Inc. (NASDAQ:FANG - Free Report) by 20.2% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 222,380 shares of the oil and natural gas company's stock after selling 56,332 shares during the quarter. DnB Asset Management AS owned 0.08% of Diamondback Energy worth $36,433,000 at the end of the most recent reporting period.

Other institutional investors have also recently bought and sold shares of the company. Wintrust Investments LLC bought a new stake in shares of Diamondback Energy in the fourth quarter valued at approximately $28,000. R Squared Ltd bought a new stake in shares of Diamondback Energy during the 4th quarter valued at $29,000. UMB Bank n.a. lifted its position in shares of Diamondback Energy by 247.3% during the 4th quarter. UMB Bank n.a. now owns 191 shares of the oil and natural gas company's stock valued at $31,000 after acquiring an additional 136 shares during the period. Key Financial Inc grew its holdings in shares of Diamondback Energy by 940.0% during the 4th quarter. Key Financial Inc now owns 208 shares of the oil and natural gas company's stock worth $34,000 after purchasing an additional 188 shares in the last quarter. Finally, Rakuten Securities Inc. increased its position in shares of Diamondback Energy by 62.4% in the fourth quarter. Rakuten Securities Inc. now owns 276 shares of the oil and natural gas company's stock worth $45,000 after purchasing an additional 106 shares during the period. Institutional investors own 90.01% of the company's stock.

Analyst Ratings Changes

A number of equities research analysts have issued reports on the stock. UBS Group increased 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 target on shares of Diamondback Energy in a research report on Wednesday, March 5th. Royal Bank of Canada restated an "outperform" rating and set a $210.00 price objective on shares of Diamondback Energy in a research report on Thursday, January 23rd. Morgan Stanley reduced their target price on Diamondback Energy from $227.00 to $206.00 and set an "overweight" rating on the stock in a report on Thursday, March 27th. Finally, Wolfe Research upgraded Diamondback Energy from a "peer perform" rating to an "outperform" rating and set a $190.00 price target on the stock in a research note on Friday, January 3rd. Four equities research analysts have rated the stock with a hold rating, eighteen have assigned a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average price target of $209.33.

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Diamondback Energy Trading Up 0.0 %

Shares of NASDAQ FANG traded up $0.00 during trading on Tuesday, reaching $159.88. The company had a trading volume of 443,298 shares, compared to its average volume of 1,966,529. The stock has a market cap of $46.28 billion, a P/E ratio of 9.15, a PEG ratio of 1.24 and a beta of 1.85. The company's fifty day moving average price is $158.25 and its 200-day moving average price is $169.65. 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 $137.09 and a 12 month high of $214.50.

Diamondback Energy (NASDAQ:FANG - Get Free Report) last announced its earnings results on Tuesday, February 25th. The oil and natural gas company reported $3.64 EPS for the quarter, beating 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 business had revenue of $3.71 billion for the quarter, compared to analysts' expectations of $3.55 billion. As a group, research analysts expect that Diamondback Energy, Inc. will post 15.49 earnings per share for the current year.

Diamondback Energy Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, March 13th. Stockholders of record on Thursday, March 6th were given a dividend of $1.00 per share. The ex-dividend date of this dividend was Thursday, March 6th. This is a boost from Diamondback Energy's previous quarterly dividend of $0.90. This represents a $4.00 annualized dividend and a dividend yield of 2.50%. Diamondback Energy's dividend payout ratio is 25.32%.

Insider Buying and Selling

In other Diamondback Energy news, Director Frank D. Tsuru purchased 2,000 shares of the firm's stock in a transaction on Friday, February 28th. The stock was purchased at an average cost of $156.51 per share, for a total transaction of $313,020.00. Following the acquisition, the director now owns 5,730 shares in the company, valued at approximately $896,802.30. The trade was a 53.62 % increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 0.48% of the stock is owned by insiders.

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.