Fmr LLC Sells 2,147,621 Shares of Diamondback Energy, Inc. (NASDAQ:FANG)

FMR LLC reduced its stake in shares of Diamondback Energy, Inc. (NASDAQ:FANG - Free Report) by 44.3% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 2,701,942 shares of the oil and natural gas company's stock after selling 2,147,621 shares during the quarter. FMR LLC owned approximately 0.93% of Diamondback Energy worth $442,659,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Boston Partners boosted its holdings in Diamondback Energy by 12.4% in the fourth quarter. Boston Partners now owns 5,169,742 shares of the oil and natural gas company's stock worth $849,202,000 after purchasing an additional 571,820 shares in the last quarter. Geode Capital Management LLC raised its stake in shares of Diamondback Energy by 2.0% in the 4th quarter. Geode Capital Management LLC now owns 4,710,165 shares of the oil and natural gas company's stock valued at $769,706,000 after acquiring an additional 91,605 shares in the last quarter. Bank of New York Mellon Corp lifted its holdings in Diamondback Energy by 13.7% in the 4th quarter. Bank of New York Mellon Corp now owns 4,163,070 shares of the oil and natural gas company's stock worth $682,036,000 after purchasing an additional 502,916 shares during the last quarter. Diamond Hill Capital Management Inc. boosted its position in Diamondback Energy by 30.5% during the fourth quarter. Diamond Hill Capital Management Inc. now owns 2,817,554 shares of the oil and natural gas company's stock worth $461,600,000 after purchasing an additional 658,644 shares during the period. Finally, Raymond James Financial Inc. acquired a new position in Diamondback Energy during the fourth quarter valued at approximately $298,327,000. Hedge funds and other institutional investors own 90.01% of the company's stock.

Remove Ads

Insider Activity at Diamondback Energy

In related news, Director Frank D. Tsuru bought 2,000 shares of the company's stock in a transaction on Friday, February 28th. The shares were purchased at an average price of $156.51 per share, for a total transaction of $313,020.00. Following the completion of the transaction, the director now directly owns 5,730 shares in the company, valued at approximately $896,802.30. The trade was a 53.62 % increase in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. 0.48% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on FANG. UBS Group raised their target price on shares of Diamondback Energy from $212.00 to $216.00 and gave the company a "buy" rating in a research note on Thursday, February 13th. Barclays cut their price target on Diamondback Energy from $210.00 to $200.00 and set an "overweight" rating for the company 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 on the stock in a report on Friday, January 3rd. Williams Trading set a $190.00 target price on Diamondback Energy in a research report on Wednesday, March 5th. Finally, Royal Bank of Canada reiterated an "outperform" rating and issued a $210.00 price objective on shares of Diamondback Energy in a research report on Thursday, January 23rd. Three investment analysts have rated the stock with a hold rating, nineteen have given a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price of $208.17.

Diamondback Energy Stock Up 0.2 %

NASDAQ FANG traded up $0.25 on Tuesday, reaching $127.89. The company had a trading volume of 504,566 shares, compared to its average volume of 2,061,736. Diamondback Energy, Inc. has a 52-week low of $114.00 and a 52-week high of $214.50. The company has a quick ratio of 0.42, a current ratio of 0.45 and a debt-to-equity ratio of 0.31. The stock has a market capitalization of $37.61 billion, a P/E ratio of 7.32, a P/E/G ratio of 1.24 and a beta of 1.44. The company's fifty day moving average is $149.32 and its 200 day moving average is $165.96.

Diamondback Energy (NASDAQ:FANG - Get Free Report) last posted its earnings results on Tuesday, February 25th. The oil and natural gas company reported $3.64 EPS for the quarter, topping the consensus estimate of $3.57 by $0.07. The firm had revenue of $3.71 billion for 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%. Sell-side 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 disclosed a quarterly dividend, which was paid on Thursday, March 13th. Shareholders of record on Thursday, March 6th were given a $1.00 dividend. This is a positive change from Diamondback Energy's previous quarterly dividend of $0.90. The ex-dividend date was Thursday, March 6th. This represents a $4.00 annualized dividend and a yield of 3.13%. Diamondback Energy's payout ratio is currently 25.32%.

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.