New Age Alpha Advisors LLC Buys New Position in Diamondback Energy, Inc. (NASDAQ:FANG)

New Age Alpha Advisors LLC acquired a new stake in Diamondback Energy, Inc. (NASDAQ:FANG - Free Report) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund acquired 13,434 shares of the oil and natural gas company's stock, valued at approximately $2,201,000.

Other institutional investors have also modified their holdings of the company. State Street Corp lifted its position 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 buying an additional 149,871 shares in the last quarter. Boston Partners raised its stake in shares of Diamondback Energy by 12.4% in 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 during the period. Geode Capital Management LLC lifted its holdings 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 valued at $793,611,000 after acquiring an additional 266,299 shares in the last quarter. Bank of New York Mellon Corp boosted its position 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 purchasing an additional 502,916 shares during the period. Finally, Diamond Hill Capital Management Inc. increased its holdings 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 purchasing an additional 658,644 shares in the last quarter. Hedge funds and other institutional investors own 90.01% of the company's stock.

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Diamondback Energy Stock Performance

Shares of Diamondback Energy stock traded down $16.71 on Thursday, reaching $144.78. 1,506,316 shares of the company were exchanged, compared to its average volume of 1,971,541. The firm has a market cap of $41.91 billion, a price-to-earnings ratio of 8.29, a P/E/G ratio of 1.24 and a beta of 1.85. Diamondback Energy, Inc. has a 1-year low of $137.09 and a 1-year high of $214.50. The company has a debt-to-equity ratio of 0.31, a quick ratio of 0.42 and a current ratio of 0.45. The company's 50-day moving average is $157.61 and its two-hundred day moving average is $169.51.

Diamondback Energy (NASDAQ:FANG - Get Free Report) last issued its earnings results 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 return on equity of 13.68% and a net margin of 33.64%. The firm had revenue of $3.71 billion for the quarter, compared to analyst estimates of $3.55 billion. As a group, 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. Shareholders of record on Thursday, March 6th were paid a dividend of $1.00 per share. This represents a $4.00 dividend on an annualized basis and a yield of 2.76%. This is a positive change from Diamondback Energy's previous quarterly dividend of $0.90. The ex-dividend date of this dividend was Thursday, March 6th. Diamondback Energy's payout ratio is presently 25.32%.

Analyst Ratings Changes

Several brokerages have recently weighed in on FANG. Royal Bank of Canada reaffirmed an "outperform" rating and issued a $210.00 target price on shares of Diamondback Energy in a research report on Thursday, January 23rd. Morgan Stanley decreased their price target on Diamondback Energy from $227.00 to $206.00 and set an "overweight" rating for the company in a report on Thursday, March 27th. Barclays dropped their price objective 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. Wells Fargo & Company decreased 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. Finally, UBS Group lifted their price target on shares of Diamondback Energy from $212.00 to $216.00 and gave the stock a "buy" rating in a research note on Thursday, February 13th. 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. According to MarketBeat.com, Diamondback Energy currently has a consensus rating of "Moderate Buy" and a consensus price target of $209.33.

Insiders Place Their Bets

In other Diamondback Energy news, Director Frank D. Tsuru acquired 2,000 shares of Diamondback Energy stock in a transaction dated Friday, February 28th. The stock was acquired at an average cost of $156.51 per share, for a total transaction of $313,020.00. Following the completion of the transaction, 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 transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. 0.48% of the stock is owned by insiders.

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.