J2 Capital Management Inc Takes $575,000 Position in Diamondback Energy, Inc. (NASDAQ:FANG)

J2 Capital Management Inc bought a new stake in Diamondback Energy, Inc. (NASDAQ:FANG - Free Report) during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 3,508 shares of the oil and natural gas company's stock, valued at approximately $575,000.

Other institutional investors and hedge funds have also bought and sold shares of the company. State Street Corp increased its stake in shares of Diamondback Energy by 1.3% during the 3rd quarter. State Street Corp now owns 11,858,555 shares of the oil and natural gas company's stock worth $2,044,415,000 after purchasing an additional 149,871 shares during the last quarter. Geode Capital Management LLC increased its position in Diamondback Energy by 6.1% during the third quarter. Geode Capital Management LLC now owns 4,618,560 shares of the oil and natural gas company's stock worth $793,611,000 after buying an additional 266,299 shares during the last quarter. Pacer Advisors Inc. raised its stake in Diamondback Energy by 9.3% in the third quarter. Pacer Advisors Inc. now owns 2,704,520 shares of the oil and natural gas company's stock valued at $466,259,000 after buying an additional 230,689 shares during the period. Diamond Hill Capital Management Inc. lifted its position in shares of Diamondback Energy by 25.6% in the third quarter. Diamond Hill Capital Management Inc. now owns 2,158,910 shares of the oil and natural gas company's stock valued at $372,196,000 after buying an additional 439,579 shares during the last quarter. Finally, Raymond James & Associates boosted its stake in shares of Diamondback Energy by 4.2% during the 3rd quarter. Raymond James & Associates now owns 1,135,230 shares of the oil and natural gas company's stock worth $195,714,000 after acquiring an additional 46,109 shares during the period. Institutional investors own 90.01% of the company's stock.

Analyst Ratings Changes

Several brokerages have issued reports on FANG. Wolfe Research raised Diamondback Energy from a "peer perform" rating to an "outperform" rating and set a $190.00 price target for the company in a report on Friday, January 3rd. UBS Group cut their target price on shares of Diamondback Energy from $235.00 to $212.00 and set a "buy" rating for the company in a research note on Monday, December 9th. KeyCorp decreased their price target on shares of Diamondback Energy from $225.00 to $216.00 and set an "overweight" rating on the stock in a research note on Wednesday, October 16th. JPMorgan Chase & Co. raised their price objective on shares of Diamondback Energy from $191.00 to $195.00 and gave the stock an "overweight" rating in a research report on Friday. Finally, Scotiabank lowered their target price on Diamondback Energy from $245.00 to $225.00 and set a "sector outperform" rating on the stock in a research note on Thursday, October 10th. Four investment analysts have rated the stock with a hold rating, eighteen have given a buy rating and two have assigned a strong buy rating to the company's stock. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $214.17.

Insiders Place Their Bets

In related news, Director Mark Lawrence Plaumann sold 1,150 shares of Diamondback Energy stock in a transaction that occurred on Wednesday, November 13th. The shares were sold at an average price of $181.00, for a total transaction of $208,150.00. Following the sale, the director now directly owns 4,712 shares in the company, valued at $852,872. This trade represents a 19.62 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 0.48% of the company's stock.

Diamondback Energy Price Performance

Shares of FANG traded up $1.06 during midday trading on Friday, hitting $180.18. The company's stock had a trading volume of 1,810,899 shares, compared to its average volume of 2,013,453. The company has a quick ratio of 0.42, a current ratio of 0.45 and a debt-to-equity ratio of 0.31. Diamondback Energy, Inc. has a one year low of $147.93 and a one year high of $214.50. The stock has a market capitalization of $52.61 billion, a price-to-earnings ratio of 10.31, a price-to-earnings-growth ratio of 1.33 and a beta of 1.88. The company's fifty day simple moving average is $170.60 and its two-hundred day simple moving average is $182.92.

Diamondback Energy (NASDAQ:FANG - Get Free Report) last issued its earnings results on Monday, November 4th. The oil and natural gas company reported $3.38 EPS for the quarter, missing the consensus estimate of $4.62 by ($1.24). Diamondback Energy had a return on equity of 13.68% and a net margin of 33.64%. The business had revenue of $2.65 billion for the quarter, compared to analyst estimates of $2.43 billion. During the same period in the previous year, the firm posted $5.49 EPS. The firm's revenue was up 13.0% compared to the same quarter last year. As a group, equities analysts expect that Diamondback Energy, Inc. will post 16.08 earnings per share for the current fiscal year.

Diamondback Energy Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, November 21st. Shareholders of record on Thursday, November 14th were given a $0.90 dividend. The ex-dividend date of this dividend was Thursday, November 14th. This represents a $3.60 dividend on an annualized basis and a yield of 2.00%. Diamondback Energy's dividend payout ratio is currently 20.61%.

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.