NEOS Investment Management LLC Raises Position in Diamondback Energy, Inc. (NASDAQ:FANG)

NEOS Investment Management LLC raised its holdings in Diamondback Energy, Inc. (NASDAQ:FANG - Free Report) by 77.0% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 25,567 shares of the oil and natural gas company's stock after purchasing an additional 11,125 shares during the quarter. NEOS Investment Management LLC's holdings in Diamondback Energy were worth $4,189,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. State Street Corp grew its holdings in 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 purchasing an additional 149,871 shares during the period. Boston Partners grew its stake in Diamondback Energy by 12.4% in the fourth 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 during the period. Geode Capital Management LLC increased its holdings in shares of Diamondback Energy by 6.1% in 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 acquiring an additional 266,299 shares in the last quarter. Bank of New York Mellon Corp raised its position in shares of Diamondback Energy by 13.7% during the fourth 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 purchasing an additional 502,916 shares during the period. Finally, Diamond Hill Capital Management Inc. grew its position 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 valued at $461,600,000 after purchasing an additional 658,644 shares during the period. 90.01% of the stock is owned by institutional investors and hedge funds.

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Insider Activity at Diamondback Energy

In other Diamondback Energy news, Director Frank D. Tsuru acquired 2,000 shares of the stock in a transaction 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 in the company, valued at approximately $896,802.30. This represents a 53.62 % increase in their position. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 0.48% of the stock is currently owned by corporate insiders.

Diamondback Energy Trading Down 0.0 %

Shares of FANG traded down $0.03 during mid-day trading on Tuesday, reaching $159.85. 364,715 shares of the company were exchanged, compared to its average volume of 1,966,128. The business has a 50 day simple moving average of $158.25 and a two-hundred day simple moving average of $169.65. Diamondback Energy, Inc. has a 52 week low of $137.09 and a 52 week high of $214.50. The stock has a market capitalization of $46.27 billion, a PE ratio of 9.13, a PEG ratio of 1.24 and a beta of 1.85. 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 announced its earnings results on Tuesday, February 25th. The oil and natural gas company reported $3.64 EPS for the quarter, beating the consensus estimate 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%. On average, analysts predict 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. Stockholders of record on Thursday, March 6th were paid a $1.00 dividend. The ex-dividend date was Thursday, March 6th. This is an increase from Diamondback Energy's previous quarterly dividend of $0.90. This represents a $4.00 annualized dividend and a dividend yield of 2.50%. Diamondback Energy's dividend payout ratio (DPR) is currently 25.32%.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on FANG. Barclays cut their price target on shares of Diamondback Energy from $210.00 to $200.00 and set an "overweight" rating on the stock in a research note on Tuesday, March 18th. 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. UBS Group boosted their price objective on shares of Diamondback Energy from $212.00 to $216.00 and gave the stock a "buy" rating in a research report on Thursday, February 13th. Mizuho raised their target price on shares of Diamondback Energy from $201.00 to $204.00 and gave the company an "outperform" rating in a research report on Tuesday, February 25th. Finally, Morgan Stanley dropped their price objective 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. Four analysts have rated the stock with a hold rating, eighteen have issued a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat, Diamondback Energy has an average rating of "Moderate Buy" and an average target price of $209.33.

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.