Natixis Advisors LLC Cuts Stock Holdings in Diamondback Energy, Inc. (NASDAQ:FANG)

Natixis Advisors LLC lessened its position in Diamondback Energy, Inc. (NASDAQ:FANG - Free Report) by 13.1% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 148,333 shares of the oil and natural gas company's stock after selling 22,341 shares during the quarter. Natixis Advisors LLC owned 0.05% of Diamondback Energy worth $24,302,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in the company. State Street Corp boosted its position in shares of Diamondback Energy by 1.3% during the third quarter. State Street Corp now owns 11,858,555 shares of the oil and natural gas company's stock valued at $2,044,415,000 after buying an additional 149,871 shares during the period. Geode Capital Management LLC lifted its stake in shares of 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 valued at $682,036,000 after acquiring an additional 502,916 shares during the period. Diamond Hill Capital Management Inc. grew its position 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 valued at $461,600,000 after acquiring an additional 658,644 shares during the last quarter. Finally, Pacer Advisors Inc. increased 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 worth $466,259,000 after purchasing an additional 230,689 shares during the period. 90.01% of the stock is owned by hedge funds and other institutional investors.

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Analysts Set New Price Targets

A number of brokerages have recently issued reports on FANG. Wells Fargo & Company lowered their target price on shares of Diamondback Energy from $219.00 to $215.00 and set an "overweight" rating for the company in a research note on Wednesday, March 12th. Royal Bank of Canada reissued an "outperform" rating and issued a $210.00 price objective on shares of Diamondback Energy in a research report on Thursday, January 23rd. Piper Sandler reduced their target price on shares of Diamondback Energy from $252.00 to $232.00 and set an "overweight" rating on the stock in a research report on Tuesday, December 17th. Wolfe Research raised 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 note on Friday, January 3rd. Finally, Raymond James dropped their price objective on Diamondback Energy from $245.00 to $214.00 and set a "strong-buy" rating on the stock in a research note on Wednesday, March 12th. Four research analysts have rated the stock with a hold rating, eighteen have given a buy rating and two have given a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of $209.92.

Diamondback Energy Stock Performance

Diamondback Energy stock traded up $0.02 during mid-day trading on Friday, reaching $158.50. 7,798,070 shares of the company traded hands, compared to its average volume of 1,869,893. The firm's fifty day moving average is $160.80 and its two-hundred day moving average is $170.76. The company has a market capitalization of $45.88 billion, a price-to-earnings ratio of 9.07, a price-to-earnings-growth ratio of 1.24 and a beta of 1.85. 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 debt-to-equity ratio of 0.31, a current ratio of 0.45 and a quick ratio of 0.42.

Diamondback Energy (NASDAQ:FANG - Get Free Report) last released its earnings results on Tuesday, February 25th. The oil and natural gas company reported $3.64 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.57 by $0.07. The firm had revenue of $3.71 billion for the quarter, compared to the consensus estimate of $3.55 billion. Diamondback Energy had a return on equity of 13.68% and a net margin of 33.64%. On average, equities research analysts expect that Diamondback Energy, Inc. will post 15.49 earnings per share for the current fiscal year.

Diamondback Energy Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, March 13th. Investors 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. The ex-dividend date of this dividend was Thursday, March 6th. This represents a $4.00 dividend on an annualized basis and a dividend yield of 2.52%. Diamondback Energy's payout ratio is 25.32%.

Insider Buying and Selling

In other Diamondback Energy news, Director Frank D. Tsuru purchased 2,000 shares of the stock in a transaction on Friday, February 28th. The shares were bought at an average cost of $156.51 per share, with a total value of $313,020.00. Following the completion of the acquisition, the director now owns 5,730 shares in the company, valued at $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 accessible through the SEC website. 0.48% of the stock is owned by corporate insiders.

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.