PFG Advisors Raises Stock Position in Diamondback Energy, Inc. (NASDAQ:FANG)

PFG Advisors lifted its stake in Diamondback Energy, Inc. (NASDAQ:FANG - Free Report) by 86.1% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 4,257 shares of the oil and natural gas company's stock after acquiring an additional 1,969 shares during the quarter. PFG Advisors' holdings in Diamondback Energy were worth $697,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also modified their holdings of the stock. Lakewood Asset Management LLC lifted its holdings in Diamondback Energy by 0.5% in the 4th quarter. Lakewood Asset Management LLC now owns 11,340 shares of the oil and natural gas company's stock worth $1,858,000 after purchasing an additional 60 shares during the last quarter. West Family Investments Inc. lifted its holdings in Diamondback Energy by 3.4% in the 3rd quarter. West Family Investments Inc. now owns 1,852 shares of the oil and natural gas company's stock worth $319,000 after purchasing an additional 61 shares during the last quarter. Magnolia Capital Advisors LLC lifted its holdings in shares of Diamondback Energy by 2.0% during the fourth quarter. Magnolia Capital Advisors LLC now owns 3,247 shares of the oil and natural gas company's stock worth $532,000 after buying an additional 64 shares during the last quarter. Barden Capital Management Inc. lifted its holdings in shares of Diamondback Energy by 1.5% during the fourth quarter. Barden Capital Management Inc. now owns 4,380 shares of the oil and natural gas company's stock worth $718,000 after buying an additional 64 shares during the last quarter. Finally, Citizens Financial Group Inc. RI lifted its holdings in shares of Diamondback Energy by 2.4% during the third quarter. Citizens Financial Group Inc. RI now owns 2,795 shares of the oil and natural gas company's stock worth $482,000 after buying an additional 65 shares during the last quarter. 90.01% of the stock is owned by institutional investors and hedge funds.

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Diamondback Energy Stock Up 1.7 %

NASDAQ:FANG traded up $2.60 during midday trading on Wednesday, reaching $157.60. 2,973,475 shares of the stock traded hands, compared to its average volume of 1,842,394. Diamondback Energy, Inc. has a 12-month low of $137.09 and a 12-month high of $214.50. The business has a 50-day moving average of $161.32 and a two-hundred day moving average of $170.94. 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 stock has a market capitalization of $45.62 billion, a PE ratio of 9.02, a price-to-earnings-growth ratio of 1.24 and a beta of 1.85.

Diamondback Energy (NASDAQ:FANG - Get Free Report) last posted its 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 during the quarter, compared to analysts' expectations of $3.55 billion. Diamondback Energy had a net margin of 33.64% and a return on equity of 13.68%. On average, equities analysts forecast that Diamondback Energy, Inc. will post 15.49 earnings per share for the current fiscal year.

Diamondback Energy Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, March 13th. Stockholders of record on Thursday, March 6th were given a dividend of $1.00 per share. 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. This represents a $4.00 dividend on an annualized basis and a dividend yield of 2.54%. Diamondback Energy's dividend payout ratio (DPR) is 25.32%.

Insiders Place Their Bets

In other Diamondback Energy news, Director Frank D. Tsuru bought 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 directly owns 5,730 shares of the company's stock, valued at approximately $896,802.30. This represents a 53.62 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. 0.48% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on the company. UBS Group upped their price target on Diamondback Energy from $212.00 to $216.00 and gave the stock a "buy" rating in a report on Thursday, February 13th. JPMorgan Chase & Co. lowered their price objective on Diamondback Energy from $212.00 to $167.00 and set an "overweight" rating on the stock in a research report on Thursday, March 13th. Citigroup lowered their price objective on Diamondback Energy from $195.00 to $157.00 and set a "neutral" rating on the stock in a research report on Monday. Royal Bank of Canada restated an "outperform" rating and set a $210.00 price objective on shares of Diamondback Energy in a research report on Thursday, January 23rd. Finally, Wolfe Research upgraded Diamondback Energy from a "peer perform" rating to an "outperform" rating and set a $190.00 price target on the stock in a research report on Friday, January 3rd. Four investment analysts have rated the stock with a hold rating, eighteen have assigned a buy rating and two have given a strong buy rating to the company's stock. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $209.92.

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.