LPL Financial LLC Increases Stake in Diamondback Energy, Inc. (NASDAQ:FANG)

LPL Financial LLC boosted its holdings in shares of Diamondback Energy, Inc. (NASDAQ:FANG - Free Report) by 5.4% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 181,642 shares of the oil and natural gas company's stock after buying an additional 9,334 shares during the period. LPL Financial LLC owned approximately 0.06% of Diamondback Energy worth $29,758,000 as of its most recent SEC filing.

Several other large investors have also added to or reduced their stakes in FANG. State Street Corp raised its stake in shares of Diamondback Energy by 1.3% in the third 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. Boston Partners lifted its stake in Diamondback Energy by 12.4% during the 4th quarter. Boston Partners now owns 5,169,742 shares of the oil and natural gas company's stock valued at $849,202,000 after acquiring an additional 571,820 shares in the last quarter. Geode Capital Management LLC boosted its holdings in Diamondback Energy by 6.1% during the 3rd 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 acquiring an additional 266,299 shares during the last quarter. Bank of New York Mellon Corp boosted its holdings in 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 worth $682,036,000 after acquiring an additional 502,916 shares during the last quarter. Finally, Diamond Hill Capital Management Inc. grew its stake in shares of 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. Institutional investors own 90.01% of the company's stock.

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Analyst Ratings Changes

FANG has been the topic of several analyst reports. Royal Bank of Canada restated an "outperform" rating and set a $210.00 price target on shares of Diamondback Energy in a report on Thursday, January 23rd. Morgan Stanley reduced their target price on Diamondback Energy from $227.00 to $206.00 and set an "overweight" rating for the company in a report on Thursday, March 27th. Raymond James dropped their price target on Diamondback Energy from $245.00 to $214.00 and set a "strong-buy" rating on the stock in a report on Wednesday, March 12th. Wolfe Research upgraded Diamondback Energy from a "peer perform" rating to an "outperform" rating and set a $190.00 price objective for the company in a research note on Friday, January 3rd. Finally, Mizuho lifted their target price on Diamondback Energy from $201.00 to $204.00 and gave the stock an "outperform" rating in a research note on Tuesday, February 25th. Four 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 company. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $209.33.

Insider Buying and Selling

In other news, Director Frank D. Tsuru acquired 2,000 shares of the business's stock in a transaction dated Friday, February 28th. The stock was purchased at an average cost of $156.51 per share, for a total transaction of $313,020.00. Following the acquisition, the director now owns 5,730 shares of the company's stock, valued at $896,802.30. This trade represents a 53.62 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. 0.48% of the stock is owned by company insiders.

Diamondback Energy Price Performance

NASDAQ:FANG traded up $0.54 during trading hours on Wednesday, hitting $161.41. 725,296 shares of the company's stock traded hands, compared to its average volume of 2,461,083. Diamondback Energy, Inc. has a 52 week low of $137.09 and a 52 week high of $214.50. The business's fifty day simple moving average is $157.93 and its two-hundred day simple moving average is $169.57. 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 firm has a market cap of $46.72 billion, a P/E ratio of 9.24, a P/E/G ratio of 1.24 and a beta of 1.85.

Diamondback Energy (NASDAQ:FANG - Get Free Report) last posted its quarterly earnings data 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. 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 for the quarter, compared to analysts' expectations of $3.55 billion. On average, research 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. Stockholders of record on Thursday, March 6th were issued a dividend of $1.00 per share. This is an increase from Diamondback Energy's previous quarterly dividend of $0.90. This represents a $4.00 dividend on an annualized basis and a dividend yield of 2.48%. The ex-dividend date was Thursday, March 6th. Diamondback Energy's payout ratio is currently 25.32%.

Diamondback Energy Company 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.