SLT Holdings LLC Purchases Shares of 3,131 Diamondback Energy, Inc. (NASDAQ:FANG)

SLT Holdings LLC bought a new position in shares of Diamondback Energy, Inc. (NASDAQ:FANG - Free Report) in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 3,131 shares of the oil and natural gas company's stock, valued at approximately $513,000.

Several other hedge funds also recently bought and sold shares of the stock. QRG Capital Management Inc. lifted its position in shares of Diamondback Energy by 38.4% during the fourth 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 lifted its position in shares of Diamondback Energy by 28.0% during the fourth quarter. Swedbank AB now owns 198,283 shares of the oil and natural gas company's stock worth $32,485,000 after purchasing an additional 43,361 shares in the last quarter. Tokio Marine Asset Management Co. Ltd. lifted its position in shares of Diamondback Energy by 631.1% during the fourth quarter. Tokio Marine Asset Management Co. Ltd. now owns 43,148 shares of the oil and natural gas company's stock worth $7,069,000 after purchasing an additional 37,246 shares in the last quarter. Franklin Resources Inc. lifted its position in shares of Diamondback Energy by 48.5% during the third quarter. Franklin Resources Inc. now owns 146,870 shares of the oil and natural gas company's stock worth $28,008,000 after purchasing an additional 47,951 shares in the last quarter. Finally, Tectonic Advisors LLC lifted its position in shares of Diamondback Energy by 38.2% during the fourth quarter. Tectonic Advisors LLC now owns 31,467 shares of the oil and natural gas company's stock worth $5,155,000 after purchasing an additional 8,704 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 Price Performance

FANG stock traded up $0.47 during trading on Monday, hitting $140.58. The stock had a trading volume of 3,436,232 shares, compared to its average volume of 2,472,544. The company's 50 day moving average price is $163.56 and its two-hundred day moving average price is $172.90. Diamondback Energy, Inc. has a 1-year low of $137.09 and a 1-year high of $214.50. The stock has a market cap of $40.69 billion, a price-to-earnings ratio of 8.05, a price-to-earnings-growth 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 earnings per share for the quarter, beating the consensus estimate of $3.57 by $0.07. Diamondback Energy had a net margin of 33.64% and a return on equity of 13.68%. The firm had revenue of $3.71 billion during the quarter, compared to the consensus estimate of $3.55 billion. On average, sell-side analysts forecast that Diamondback Energy, Inc. will post 15.49 EPS for the current fiscal year.

Diamondback Energy Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, March 13th. Investors of record on Thursday, March 6th will be paid a $1.00 dividend. This is an increase from Diamondback Energy's previous quarterly dividend of $0.90. The ex-dividend date is Thursday, March 6th. This represents a $4.00 annualized dividend and a yield of 2.85%. Diamondback Energy's payout ratio is presently 25.32%.

Analysts Set New Price Targets

Several analysts have recently issued reports on the stock. Wells Fargo & Company increased their price target on shares of Diamondback Energy from $218.00 to $219.00 and gave the stock an "overweight" rating 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 on the stock in a research report on Friday, January 3rd. Williams Trading set a $190.00 target price on shares of Diamondback Energy in a report on Wednesday, March 5th. The Goldman Sachs Group initiated coverage on shares of Diamondback Energy in a report on Monday, December 2nd. They issued a "buy" rating and a $227.00 target price on the stock. Finally, 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 report on Tuesday, February 25th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating, eighteen have assigned a buy rating and two have given a strong buy rating to the company. According to MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of $215.00.

Insider Activity at Diamondback Energy

In other Diamondback Energy news, Director Frank D. Tsuru purchased 2,000 shares of the stock in a transaction on Friday, February 28th. The stock was bought at an average price of $156.51 per share, for a total transaction of $313,020.00. Following the acquisition, the director now directly owns 5,730 shares of the company's stock, valued at $896,802.30. This represents a 53.62 % increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available at this link. 0.48% of the stock is currently owned by corporate insiders.

Diamondback Energy 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.