5,971 Shares in Diamondback Energy, Inc. (NASDAQ:FANG) Acquired by Sharpepoint LLC

Sharpepoint LLC purchased a new position in Diamondback Energy, Inc. (NASDAQ:FANG) during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 5,971 shares of the oil and natural gas company’s stock, valued at approximately $978,000.

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. QRG Capital Management Inc. boosted its position in shares of Diamondback Energy by 38.4% in the 4th quarter. QRG Capital Management Inc. now owns 11,675 shares of the oil and natural gas company’s stock valued at $1,913,000 after purchasing an additional 3,238 shares during the period. Swedbank AB increased its position in shares of Diamondback Energy by 28.0% in the fourth quarter. Swedbank AB now owns 198,283 shares of the oil and natural gas company’s stock worth $32,485,000 after acquiring 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% in the 4th quarter. Tokio Marine Asset Management Co. Ltd. now owns 43,148 shares of the oil and natural gas company’s stock valued at $7,069,000 after acquiring an additional 37,246 shares in the last quarter. Franklin Resources Inc. boosted its stake in Diamondback Energy by 48.5% in the 3rd 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 during the period. Finally, Tectonic Advisors LLC grew its position in Diamondback Energy by 38.2% during the 4th 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. Institutional investors and hedge funds own 90.01% of the company’s stock.

Insider Buying and Selling at Diamondback Energy

In other news, Director Frank D. Tsuru bought 2,000 shares of Diamondback Energy stock in a transaction dated Friday, February 28th. The shares were bought at an average price of $156.51 per share, for a total transaction of $313,020.00. Following the purchase, the director now owns 5,730 shares of the company’s stock, valued at approximately $896,802.30. This trade represents a 53.62 % increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Company insiders own 0.48% of the company’s stock.

Wall Street Analyst Weigh In

FANG has been the subject of several recent analyst reports. Mizuho raised their target price on Diamondback Energy from $201.00 to $204.00 and gave the stock an “outperform” rating in a research report on Tuesday, February 25th. UBS Group decreased their price objective on Diamondback Energy from $175.00 to $163.00 and set a “buy” rating for the company in a research report on Thursday. Royal Bank of Canada reiterated an “outperform” rating and issued a $210.00 target price on shares of Diamondback Energy in a report on Thursday, January 23rd. Wolfe Research upgraded 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 report on Friday, January 3rd. Finally, Scotiabank dropped their price objective on shares of Diamondback Energy from $215.00 to $175.00 and set a “sector outperform” rating on the stock in a research note on Friday, April 11th. Three investment analysts have rated the stock with a hold rating, nineteen have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat, Diamondback Energy has a consensus rating of “Moderate Buy” and an average price target of $206.13.

Diamondback Energy Trading Up 5.7 %

Shares of FANG stock opened at $137.64 on Friday. The firm has a fifty day moving average of $147.14 and a 200-day moving average of $164.81. The stock has a market cap of $40.48 billion, a price-to-earnings ratio of 7.88, a P/E/G ratio of 1.24 and a beta of 1.44. Diamondback Energy, Inc. has a 52-week low of $114.00 and a 52-week 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.

Diamondback Energy (NASDAQ:FANG) 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 the consensus estimate of $3.57 by $0.07. The firm had revenue of $3.71 billion during the quarter, compared to analyst estimates of $3.55 billion. Diamondback Energy had a net margin of 33.64% and a return on equity of 13.68%. On average, equities research analysts forecast that Diamondback Energy, Inc. will post 15.49 earnings per share for the current fiscal year.

Diamondback Energy Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, March 13th. Investors of record on Thursday, March 6th were paid a $1.00 dividend. This is a positive change from Diamondback Energy’s previous quarterly dividend of $0.90. The ex-dividend date was Thursday, March 6th. This represents a $4.00 annualized dividend and a yield of 2.91%. Diamondback Energy’s payout ratio is currently 25.32%.

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.