Diamondback Energy, Inc. (NASDAQ:FANG) Shares Sold by Fisher Asset Management LLC

Fisher Asset Management LLC cut its holdings in Diamondback Energy, Inc. (NASDAQ:FANG - Free Report) by 9.0% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 139,002 shares of the oil and natural gas company's stock after selling 13,786 shares during the period. Fisher Asset Management LLC's holdings in Diamondback Energy were worth $22,773,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Assenagon Asset Management S.A. raised its position in shares of Diamondback Energy by 1,153.0% during the 4th quarter. Assenagon Asset Management S.A. now owns 1,132,918 shares of the oil and natural gas company's stock valued at $185,606,000 after purchasing an additional 1,042,505 shares during the period. Zimmer Partners LP bought a new stake in shares of Diamondback Energy during the 3rd quarter valued at $87,924,000. Bank of New York Mellon Corp raised its position in shares of Diamondback Energy by 13.7% during the 4th quarter. Bank of New York Mellon Corp now owns 4,163,070 shares of the oil and natural gas company's stock valued at $682,036,000 after purchasing an additional 502,916 shares during the period. Holocene Advisors LP grew its position in shares of Diamondback Energy by 95.3% during the third quarter. Holocene Advisors LP now owns 938,474 shares of the oil and natural gas company's stock worth $161,793,000 after purchasing an additional 457,896 shares in the last quarter. Finally, Diamond Hill Capital Management Inc. lifted its holdings in Diamondback Energy by 25.6% in the 3rd quarter. Diamond Hill Capital Management Inc. now owns 2,158,910 shares of the oil and natural gas company's stock worth $372,196,000 after purchasing an additional 439,579 shares in the last quarter. 90.01% of the stock is currently owned by institutional investors.

Diamondback Energy Stock Down 1.4 %

Shares of FANG stock traded down $1.98 during mid-day trading on Wednesday, hitting $143.06. The stock had a trading volume of 2,302,566 shares, compared to its average volume of 2,382,209. Diamondback Energy, Inc. has a 12-month low of $139.57 and a 12-month high of $214.50. The firm has a market capitalization of $41.41 billion, a P/E ratio of 8.18, a price-to-earnings-growth ratio of 1.24 and a beta of 1.86. The firm's 50-day moving average is $165.00 and its two-hundred day moving average is $174.34. The company has a debt-to-equity ratio of 0.31, a current ratio of 0.45 and a quick ratio of 0.42.

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 the consensus estimate 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 return on equity of 13.68% and a net margin of 33.64%. On average, analysts predict that Diamondback Energy, Inc. will post 15.49 earnings per share for the current fiscal year.

Diamondback Energy Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, March 13th. Investors of record on Thursday, March 6th will be given a dividend of $1.00 per share. This is a positive change from Diamondback Energy's previous quarterly dividend of $0.90. This represents a $4.00 annualized dividend and a yield of 2.80%. The ex-dividend date is Thursday, March 6th. Diamondback Energy's dividend payout ratio is currently 25.32%.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on the stock. Mizuho upped their target price on shares of Diamondback Energy from $201.00 to $204.00 and gave the stock an "outperform" rating in a research report on Tuesday, February 25th. Royal Bank of Canada reaffirmed an "outperform" rating and issued a $210.00 price objective on shares of Diamondback Energy in a research note on Thursday, January 23rd. Morgan Stanley increased their target price on Diamondback Energy from $220.00 to $227.00 and gave the company an "overweight" rating in a research report on Wednesday, February 19th. Wells Fargo & Company boosted their price target on shares of Diamondback Energy from $218.00 to $219.00 and gave the stock an "overweight" rating in a research report on Tuesday, December 17th. Finally, The Goldman Sachs Group assumed coverage on shares of Diamondback Energy in a research report on Monday, December 2nd. They set a "buy" rating and a $227.00 price objective for the company. Four investment analysts have rated the stock with a hold rating, eighteen have issued a buy rating and two have issued a strong buy rating to the company's stock. According to MarketBeat.com, Diamondback Energy currently has a consensus rating of "Moderate Buy" and an average target price of $216.09.

Insider Activity at Diamondback Energy

In other Diamondback Energy news, Director Frank D. Tsuru bought 2,000 shares of Diamondback Energy stock in a transaction that occurred on Friday, February 28th. The shares were bought at an average cost of $156.51 per share, with a total value of $313,020.00. Following the transaction, the director now directly owns 5,730 shares of the company's stock, valued at approximately $896,802.30. This represents a 53.62 % increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 0.48% of the stock is currently owned by corporate 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.