Evergreen Capital Management LLC Buys 2,392 Shares of Diamondback Energy, Inc. (NASDAQ:FANG)

Evergreen Capital Management LLC increased its stake in shares of Diamondback Energy, Inc. (NASDAQ:FANG - Free Report) by 4.1% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 60,452 shares of the oil and natural gas company's stock after buying an additional 2,392 shares during the period. Evergreen Capital Management LLC's holdings in Diamondback Energy were worth $9,904,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in FANG. United Capital Financial Advisors LLC increased its holdings in shares of Diamondback Energy by 1.7% in the fourth quarter. United Capital Financial Advisors LLC now owns 7,126 shares of the oil and natural gas company's stock valued at $1,167,000 after purchasing an additional 118 shares in the last quarter. Jump Financial LLC raised its position in shares of Diamondback Energy by 3,022.5% during the fourth quarter. Jump Financial LLC now owns 58,953 shares of the oil and natural gas company's stock worth $9,658,000 after acquiring an additional 57,065 shares during the last quarter. Rossby Financial LCC bought a new position in Diamondback Energy in the fourth quarter valued at about $296,000. Canada Post Corp Registered Pension Plan acquired a new stake in Diamondback Energy in the fourth quarter worth about $553,000. Finally, XTX Topco Ltd lifted its position in Diamondback Energy by 38.6% during the 4th quarter. XTX Topco Ltd now owns 8,438 shares of the oil and natural gas company's stock valued at $1,382,000 after purchasing an additional 2,350 shares during the period. Institutional investors own 90.01% of the company's stock.

Insiders Place Their Bets

In other news, Director Frank D. Tsuru bought 2,000 shares of the business's stock in a transaction that occurred on Friday, February 28th. The stock was acquired at an average cost of $156.51 per share, for a total transaction of $313,020.00. Following the purchase, the director now owns 5,730 shares of the company's stock, valued at approximately $896,802.30. This trade represents a 53.62 % increase in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Insiders own 0.48% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on FANG. Williams Trading set a $190.00 price target on shares of Diamondback Energy in a research note on Wednesday, March 5th. Citigroup upgraded Diamondback Energy from a "reduce" rating to a "buy" rating and raised their price target for the stock from $157.00 to $180.00 in a research report on Monday, April 7th. Raymond James cut their target price on Diamondback Energy from $245.00 to $214.00 and set a "strong-buy" rating on the stock in a research note on Wednesday, March 12th. Scotiabank decreased their target price on Diamondback Energy from $215.00 to $175.00 and set a "sector outperform" rating for the company in a research report on Friday, April 11th. Finally, UBS Group cut their price target on shares of Diamondback Energy from $175.00 to $163.00 and set a "buy" rating on the stock in a research report on Thursday. Three equities research analysts have rated the stock with a hold rating, nineteen have given a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat.com, Diamondback Energy presently has an average rating of "Moderate Buy" and an average target price of $204.29.

Diamondback Energy Stock Down 3.4 %

Diamondback Energy stock traded down $4.65 during mid-day trading on Monday, reaching $132.99. The company's stock had a trading volume of 470,338 shares, compared to its average volume of 2,079,789. The company has a debt-to-equity ratio of 0.31, a quick ratio of 0.42 and a current ratio of 0.45. Diamondback Energy, Inc. has a 12 month low of $114.00 and a 12 month high of $214.50. The business's 50 day simple moving average is $147.14 and its 200 day simple moving average is $164.65. The company has a market capitalization of $39.11 billion, a price-to-earnings ratio of 7.61, a price-to-earnings-growth ratio of 1.24 and a beta of 1.44.

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

Diamondback Energy Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, March 13th. Investors of record on Thursday, March 6th were issued a dividend of $1.00 per share. This represents a $4.00 dividend on an annualized basis and a yield of 3.01%. This is an increase from Diamondback Energy's previous quarterly dividend of $0.90. The ex-dividend date of this dividend was Thursday, March 6th. Diamondback Energy's payout ratio 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.