Goehring & Rozencwajg Associates LLC Has $12.82 Million Stock Position in Diamondback Energy, Inc. $FANG

Goehring & Rozencwajg Associates LLC increased its position in shares of Diamondback Energy, Inc. (NASDAQ:FANG) by 22.1% in the fourth quarter, HoldingsChannel reports. The firm owned 85,243 shares of the oil and natural gas company’s stock after purchasing an additional 15,411 shares during the period. Diamondback Energy makes up approximately 1.2% of Goehring & Rozencwajg Associates LLC’s investment portfolio, making the stock its 28th biggest holding. Goehring & Rozencwajg Associates LLC’s holdings in Diamondback Energy were worth $12,815,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in FANG. Cresset Asset Management LLC increased its position in Diamondback Energy by 37.5% in the 2nd quarter. Cresset Asset Management LLC now owns 4,726 shares of the oil and natural gas company’s stock valued at $649,000 after acquiring an additional 1,288 shares in the last quarter. Jump Financial LLC acquired a new stake in Diamondback Energy in the 2nd quarter valued at about $2,301,000. Cerity Partners LLC increased its position in Diamondback Energy by 13.5% in the 2nd quarter. Cerity Partners LLC now owns 51,104 shares of the oil and natural gas company’s stock valued at $7,022,000 after acquiring an additional 6,069 shares in the last quarter. AXA S.A. increased its position in Diamondback Energy by 8.5% in the 2nd quarter. AXA S.A. now owns 52,355 shares of the oil and natural gas company’s stock valued at $7,194,000 after acquiring an additional 4,103 shares in the last quarter. Finally, Sei Investments Co. increased its position in Diamondback Energy by 37.1% in the 2nd quarter. Sei Investments Co. now owns 154,582 shares of the oil and natural gas company’s stock valued at $21,239,000 after acquiring an additional 41,866 shares in the last quarter. Institutional investors and hedge funds own 90.01% of the company’s stock.

Insider Activity at Diamondback Energy

In other news, Director Mark Lawrence Plaumann sold 500 shares of Diamondback Energy stock in a transaction that occurred on Tuesday, June 9th. The shares were sold at an average price of $196.50, for a total transaction of $98,250.00. Following the completion of the sale, the director owned 13,437 shares in the company, valued at $2,640,370.50. The trade was a 3.59% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, EVP Matt Zmigrosky sold 5,000 shares of Diamondback Energy stock in a transaction that occurred on Monday, June 1st. The stock was sold at an average price of $200.54, for a total transaction of $1,002,700.00. Following the sale, the executive vice president owned 46,392 shares of the company’s stock, valued at approximately $9,303,451.68. This represents a 9.73% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 54,065 shares of company stock worth $10,551,236 over the last 90 days. Insiders own 0.64% of the company’s stock.

Diamondback Energy Stock Up 0.3%

Shares of NASDAQ:FANG opened at $192.13 on Friday. Diamondback Energy, Inc. has a one year low of $134.30 and a one year high of $214.51. The company has a 50 day moving average of $195.70 and a 200-day moving average of $175.36. The company has a debt-to-equity ratio of 0.31, a current ratio of 0.56 and a quick ratio of 0.55. The stock has a market cap of $54.05 billion, a price-to-earnings ratio of 223.41 and a beta of 0.42.

Diamondback Energy (NASDAQ:FANG) last issued its quarterly earnings results on Monday, May 4th. The oil and natural gas company reported $4.23 EPS for the quarter, topping the consensus estimate of $3.74 by $0.49. Diamondback Energy had a net margin of 1.87% and a return on equity of 7.76%. The company had revenue of $4.24 billion during the quarter, compared to analysts’ expectations of $3.83 billion. During the same quarter in the previous year, the company earned $4.54 EPS. Diamondback Energy’s revenue was up 4.7% on a year-over-year basis. On average, sell-side analysts forecast that Diamondback Energy, Inc. will post 19.92 earnings per share for the current year.

Diamondback Energy Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, May 21st. Stockholders of record on Thursday, May 14th were given a dividend of $1.10 per share. The ex-dividend date was Thursday, May 14th. This represents a $4.40 annualized dividend and a dividend yield of 2.3%. This is a positive change from Diamondback Energy’s previous quarterly dividend of $1.05. Diamondback Energy’s dividend payout ratio is presently 511.63%.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on FANG shares. Benchmark cut shares of Diamondback Energy from a “buy” rating to a “hold” rating in a research report on Thursday, March 5th. KeyCorp raised their price objective on shares of Diamondback Energy from $196.00 to $225.00 and gave the company an “overweight” rating in a research report on Thursday, April 2nd. Weiss Ratings restated a “hold (c)” rating on shares of Diamondback Energy in a research report on Wednesday, May 27th. Scotiabank raised their price objective on shares of Diamondback Energy from $175.00 to $195.00 and gave the company a “sector outperform” rating in a research report on Wednesday, April 22nd. Finally, Roth Mkm restated a “neutral” rating and issued a $205.00 price objective on shares of Diamondback Energy in a research report on Tuesday, May 5th. Four analysts have rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating and five have given a Hold rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $223.63.

Diamondback Energy Profile

Diamondback Energy, Inc (NASDAQ: FANG) is an independent oil and natural gas company focused on the development, exploration and production of unconventional resources in the Permian Basin. Headquartered in Midland, Texas, the company concentrates its operations in the core Midland and Delaware sub?basins of West Texas and southeastern New Mexico, where it pursues contiguous acreage positions to support repeatable drilling programs.

Diamondback’s activities span the upstream value chain, including leasehold acquisition, well planning, drilling, completion and production optimization.