Invesco Ltd. Acquires 345,353 Shares of Diamondback Energy, Inc. (NASDAQ:FANG)

Invesco Ltd. increased its position in shares of Diamondback Energy, Inc. (NASDAQ:FANG - Free Report) by 12.6% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 3,086,468 shares of the oil and natural gas company's stock after purchasing an additional 345,353 shares during the period. Invesco Ltd. owned 1.06% of Diamondback Energy worth $505,656,000 at the end of the most recent quarter.

Several other large investors have also recently bought and sold shares of the business. Lakewood Asset Management LLC raised its stake in Diamondback Energy by 0.5% during the 4th quarter. Lakewood Asset Management LLC now owns 11,340 shares of the oil and natural gas company's stock worth $1,858,000 after acquiring an additional 60 shares in the last quarter. Magnolia Capital Advisors LLC lifted its holdings in shares of Diamondback Energy by 2.0% in the 4th quarter. Magnolia Capital Advisors LLC now owns 3,247 shares of the oil and natural gas company's stock valued at $532,000 after purchasing an additional 64 shares during the last quarter. Barden Capital Management Inc. lifted its holdings in shares of Diamondback Energy by 1.5% in the 4th quarter. Barden Capital Management Inc. now owns 4,380 shares of the oil and natural gas company's stock valued at $718,000 after purchasing an additional 64 shares during the last quarter. Greenleaf Trust grew its stake in Diamondback Energy by 1.0% during the 4th quarter. Greenleaf Trust now owns 6,892 shares of the oil and natural gas company's stock worth $1,129,000 after buying an additional 66 shares during the last quarter. Finally, Buckhead Capital Management LLC increased its position in Diamondback Energy by 0.3% during the fourth quarter. Buckhead Capital Management LLC now owns 19,830 shares of the oil and natural gas company's stock worth $3,249,000 after buying an additional 67 shares during the period. Hedge funds and other institutional investors own 90.01% of the company's stock.

Remove Ads

Diamondback Energy Price Performance

Shares of FANG stock traded down $0.72 during mid-day trading on Monday, hitting $128.29. 593,727 shares of the stock traded hands, compared to its average volume of 2,060,756. The company's 50-day simple moving average is $150.06 and its 200-day simple moving average is $166.26. The firm has a market cap of $37.73 billion, a price-to-earnings ratio of 7.34, a price-to-earnings-growth ratio of 1.24 and a beta of 1.44. Diamondback Energy, Inc. has a twelve month low of $114.00 and a twelve month high of $214.50. 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 (NASDAQ:FANG - Get Free Report) last posted its quarterly earnings results on Tuesday, February 25th. The oil and natural gas company reported $3.64 earnings per share (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 analyst estimates of $3.55 billion. Diamondback Energy had a net margin of 33.64% and a return on equity of 13.68%. As a group, equities 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. Shareholders of record on Thursday, March 6th were paid a dividend of $1.00 per share. The ex-dividend date of this dividend was Thursday, March 6th. This is a positive change from Diamondback Energy's previous quarterly dividend of $0.90. This represents a $4.00 dividend on an annualized basis and a yield of 3.12%. Diamondback Energy's dividend payout ratio is currently 25.32%.

Analysts Set New Price Targets

A number of analysts recently weighed in on the stock. Scotiabank decreased their price target on shares of Diamondback Energy from $215.00 to $175.00 and set a "sector outperform" rating for the company in a research note on Friday. Barclays dropped their price target on Diamondback Energy from $210.00 to $200.00 and set an "overweight" rating on the stock in a research report on Tuesday, March 18th. Wells Fargo & Company decreased their price target on Diamondback Energy from $219.00 to $215.00 and set an "overweight" rating for the company in a report on Wednesday, March 12th. Mizuho boosted their price target on shares of Diamondback Energy from $201.00 to $204.00 and gave the stock an "outperform" rating in a research note on Tuesday, February 25th. Finally, Morgan Stanley decreased their price target on Diamondback Energy from $227.00 to $206.00 and set an "overweight" rating on the stock in a research note on Thursday, March 27th. Three investment analysts have rated the stock with a hold rating, nineteen have issued a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $208.17.

Insider Activity

In other news, Director Frank D. Tsuru acquired 2,000 shares of the company's stock in a transaction that occurred 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 acquisition, the director now 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 purchase was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Corporate insiders own 0.48% of the company's stock.

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.