Steel Grove Capital Advisors LLC Has $346,000 Stake in Diamondback Energy, Inc. (NASDAQ:FANG)

Steel Grove Capital Advisors LLC trimmed its stake in Diamondback Energy, Inc. (NASDAQ:FANG - Free Report) by 77.3% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 2,110 shares of the oil and natural gas company's stock after selling 7,201 shares during the period. Steel Grove Capital Advisors LLC's holdings in Diamondback Energy were worth $346,000 at the end of the most recent reporting period.

A number of other large investors also recently bought and sold shares of FANG. Demars Financial Group LLC acquired a new stake in Diamondback Energy during the 4th quarter worth about $638,050,000. Raymond James Financial Inc. purchased a new position in shares of Diamondback Energy in the 4th quarter valued at about $298,327,000. Assenagon Asset Management S.A. grew its position in shares of Diamondback Energy by 1,153.0% in the fourth quarter. Assenagon Asset Management S.A. now owns 1,132,918 shares of the oil and natural gas company's stock valued at $185,606,000 after purchasing an additional 1,042,505 shares during the period. Diamond Hill Capital Management Inc. grew its holdings in shares of Diamondback Energy by 30.5% in the fourth 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. Finally, Boston Partners lifted 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 purchasing an additional 571,820 shares during the last quarter. Hedge funds and other institutional investors own 90.01% of the company's stock.

Insider Transactions at Diamondback Energy

In related news, Director Frank D. Tsuru purchased 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, with a total value 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 $896,802.30. This trade represents a 53.62 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 0.48% of the company's stock.

Diamondback Energy Stock Up 0.4 %

NASDAQ:FANG traded up $0.60 on Friday, reaching $136.76. The stock had a trading volume of 1,608,355 shares, compared to its average volume of 2,097,456. The company has a 50-day moving average of $145.04 and a 200 day moving average of $163.00. Diamondback Energy, Inc. has a 12-month low of $114.00 and a 12-month high of $214.50. The stock has a market cap of $40.22 billion, a P/E ratio of 7.83, a price-to-earnings-growth ratio of 1.24 and a beta of 1.44. The company has a current ratio of 0.45, a quick ratio of 0.42 and a debt-to-equity ratio of 0.31.

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

Diamondback Energy Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, March 13th. Investors of record on Thursday, March 6th were issued a $1.00 dividend. This is an increase from Diamondback Energy's previous quarterly dividend of $0.90. This represents a $4.00 dividend on an annualized basis and a dividend yield of 2.92%. The ex-dividend date was Thursday, March 6th. Diamondback Energy's payout ratio is presently 25.32%.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on FANG shares. KeyCorp decreased their price objective on shares of Diamondback Energy from $216.00 to $180.00 and set an "overweight" rating for the company in a research report on Monday, April 21st. Susquehanna dropped their price objective on Diamondback Energy from $219.00 to $194.00 and set a "positive" rating on the stock in a report on Tuesday. Morgan Stanley restated an "overweight" rating on shares of Diamondback Energy in a research note on Tuesday, April 15th. JPMorgan Chase & Co. reduced their price target on shares of Diamondback Energy from $167.00 to $166.00 and set an "overweight" rating for the company in a research report on Thursday, April 10th. Finally, Scotiabank reduced their target price on Diamondback Energy from $215.00 to $175.00 and set a "sector outperform" rating for the company in a report on Friday, April 11th. Three 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. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $200.96.

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.