Massachusetts Financial Services Co. MA Has $262.43 Million Stock Position in Diamondback Energy, Inc. (NASDAQ:FANG)

Massachusetts Financial Services Co. MA cut its position in shares of Diamondback Energy, Inc. (NASDAQ:FANG - Free Report) by 18.0% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 1,601,856 shares of the oil and natural gas company's stock after selling 351,566 shares during the quarter. Massachusetts Financial Services Co. MA owned about 0.55% of Diamondback Energy worth $262,432,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of FANG. QRG Capital Management Inc. increased its position in Diamondback Energy by 38.4% during the 4th quarter. QRG Capital Management Inc. now owns 11,675 shares of the oil and natural gas company's stock worth $1,913,000 after purchasing an additional 3,238 shares in the last quarter. Swedbank AB increased its position in shares of Diamondback Energy by 28.0% in the fourth quarter. Swedbank AB now owns 198,283 shares of the oil and natural gas company's stock worth $32,485,000 after acquiring an additional 43,361 shares in the last quarter. Tokio Marine Asset Management Co. Ltd. raised its stake in shares of Diamondback Energy by 631.1% in the 4th quarter. Tokio Marine Asset Management Co. Ltd. now owns 43,148 shares of the oil and natural gas company's stock valued at $7,069,000 after acquiring an additional 37,246 shares during the period. Franklin Resources Inc. lifted its holdings in shares of Diamondback Energy by 48.5% during the 3rd quarter. Franklin Resources Inc. now owns 146,870 shares of the oil and natural gas company's stock valued at $28,008,000 after acquiring an additional 47,951 shares in the last quarter. Finally, Tectonic Advisors LLC raised its position in Diamondback Energy by 38.2% in the fourth quarter. Tectonic Advisors LLC now owns 31,467 shares of the oil and natural gas company's stock valued at $5,155,000 after purchasing an additional 8,704 shares during the period. 90.01% of the stock is currently owned by hedge funds and other institutional investors.

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Insider Activity at Diamondback Energy

In other Diamondback Energy news, Director Frank D. Tsuru bought 2,000 shares of the business's stock in a transaction that occurred on Friday, February 28th. The stock was acquired at an average cost of $156.51 per share, with a total value of $313,020.00. Following the completion of the purchase, the director now directly owns 5,730 shares in the company, 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 filing with the SEC, which is available through this link. Company insiders own 0.48% of the company's stock.

Wall Street Analyst Weigh In

A number of research firms have recently issued reports on FANG. JPMorgan Chase & Co. lowered their target price on Diamondback Energy from $212.00 to $167.00 and set an "overweight" rating for the company in a research note on Thursday, March 13th. Wells Fargo & Company lowered their price objective on shares of Diamondback Energy from $219.00 to $215.00 and set an "overweight" rating for the company in a research report on Wednesday, March 12th. Mizuho boosted their target price on shares of Diamondback Energy from $201.00 to $204.00 and gave the stock an "outperform" rating in a research report on Tuesday, February 25th. Williams Trading set a $190.00 price objective on shares of Diamondback Energy in a report on Wednesday, March 5th. Finally, Royal Bank of Canada reiterated an "outperform" rating and issued a $210.00 price target on shares of Diamondback Energy in a research note on Thursday, January 23rd. Three investment analysts have rated the stock with a hold rating, nineteen have assigned a buy rating and two have given a strong buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $210.29.

Diamondback Energy Stock Performance

Shares of FANG stock traded up $1.16 during trading hours on Monday, reaching $124.53. The stock had a trading volume of 5,479,067 shares, compared to its average volume of 2,020,221. The company has a debt-to-equity ratio of 0.31, a current ratio of 0.45 and a quick ratio of 0.42. The firm has a 50-day simple moving average of $155.91 and a 200-day simple moving average of $168.82. The firm has a market capitalization of $36.04 billion, a PE ratio of 7.13, a price-to-earnings-growth ratio of 1.24 and a beta of 1.44. Diamondback Energy, Inc. has a twelve month low of $117.17 and a twelve month high of $214.50.

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 analysts' consensus estimates of $3.57 by $0.07. The company had revenue of $3.71 billion for the quarter, compared to analyst estimates of $3.55 billion. Diamondback Energy had a return on equity of 13.68% and a net margin of 33.64%. As a group, equities analysts forecast that Diamondback Energy, Inc. will post 15.49 earnings per share for the current 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 $1.00 dividend. The ex-dividend date of this dividend was Thursday, March 6th. This is a boost from Diamondback Energy's previous quarterly dividend of $0.90. This represents a $4.00 annualized dividend and a dividend yield of 3.21%. Diamondback Energy's dividend payout ratio (DPR) is 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.