Intech Investment Management LLC Cuts Stock Position in Diamondback Energy, Inc. (NASDAQ:FANG)

Intech Investment Management LLC cut its position in shares of Diamondback Energy, Inc. (NASDAQ:FANG - Free Report) by 58.1% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 22,029 shares of the oil and natural gas company's stock after selling 30,559 shares during the period. Intech Investment Management LLC's holdings in Diamondback Energy were worth $3,609,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also recently modified their holdings of FANG. Raymond James Financial Inc. purchased a new stake in shares of Diamondback Energy in the fourth quarter valued at approximately $298,327,000. Assenagon Asset Management S.A. grew its stake in Diamondback Energy by 1,153.0% in 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 acquiring an additional 1,042,505 shares during the period. Diamond Hill Capital Management Inc. increased its holdings in Diamondback Energy by 30.5% in the 4th 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 acquiring an additional 658,644 shares in the last quarter. Zimmer Partners LP acquired a new position in Diamondback Energy during the third quarter worth $87,924,000. Finally, Bank of New York Mellon Corp lifted its holdings in Diamondback Energy by 13.7% during the fourth 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 in the last quarter. Hedge funds and other institutional investors own 90.01% of the company's stock.

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Diamondback Energy Stock Up 1.6 %

Shares of FANG traded up $2.51 during mid-day trading on Monday, hitting $161.01. 2,042,245 shares of the company's stock were exchanged, compared to its average volume of 1,875,216. The stock's 50-day moving average is $160.47 and its 200-day moving average is $170.29. 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 fifty-two week low of $137.09 and a fifty-two week high of $214.50. The company has a market cap of $46.60 billion, a price-to-earnings ratio of 9.22, a P/E/G ratio of 1.24 and a beta of 1.85.

Diamondback Energy (NASDAQ:FANG - Get Free Report) last issued its quarterly 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 net margin of 33.64% and a return on equity of 13.68%. The company had revenue of $3.71 billion during the quarter, compared to analysts' expectations of $3.55 billion. On average, 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 company also recently declared a quarterly dividend, which was paid on Thursday, March 13th. Shareholders of record on Thursday, March 6th were issued a dividend of $1.00 per share. This represents a $4.00 annualized dividend and a yield of 2.48%. The ex-dividend date was Thursday, March 6th. This is a boost from Diamondback Energy's previous quarterly dividend of $0.90. Diamondback Energy's payout ratio is 25.32%.

Analysts Set New Price Targets

Several research firms recently weighed in on FANG. Wolfe Research upgraded shares of Diamondback Energy from a "peer perform" rating to an "outperform" rating and set a $190.00 price target for the company in a research report on Friday, January 3rd. Wells Fargo & Company decreased their target price on Diamondback Energy from $219.00 to $215.00 and set an "overweight" rating on the stock in a research report on Wednesday, March 12th. JPMorgan Chase & Co. lowered their price target on Diamondback Energy from $212.00 to $167.00 and set an "overweight" rating on the stock in a research note on Thursday, March 13th. Royal Bank of Canada restated an "outperform" rating and issued a $210.00 price objective on shares of Diamondback Energy in a report on Thursday, January 23rd. Finally, Morgan Stanley upped their target price on shares of Diamondback Energy from $220.00 to $227.00 and gave the stock an "overweight" rating in a report on Wednesday, February 19th. Four research analysts have rated the stock with a hold rating, eighteen have assigned a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $209.92.

Insider Buying and Selling at Diamondback Energy

In other news, Director Frank D. Tsuru bought 2,000 shares of the business's stock in a transaction dated Friday, February 28th. The shares were acquired 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 owns 5,730 shares of the company's stock, valued at approximately $896,802.30. This trade represents 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 accessible through this link. Insiders own 0.48% of the company's stock.

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.