Motco Purchases 193 Shares of Diamondback Energy, Inc. (NASDAQ:FANG)

Motco grew its position in shares of Diamondback Energy, Inc. (NASDAQ:FANG) by 0.6% in the 4th quarter, HoldingsChannel reports. The fund owned 31,446 shares of the oil and natural gas company’s stock after buying an additional 193 shares during the period. Motco’s holdings in Diamondback Energy were worth $5,152,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. State Street Corp increased its position in shares of Diamondback Energy by 1.3% during the third quarter. State Street Corp now owns 11,858,555 shares of the oil and natural gas company’s stock worth $2,044,415,000 after acquiring an additional 149,871 shares in the last quarter. Geode Capital Management LLC boosted its stake in Diamondback Energy by 6.1% during the 3rd quarter. Geode Capital Management LLC now owns 4,618,560 shares of the oil and natural gas company’s stock valued at $793,611,000 after purchasing an additional 266,299 shares during the last quarter. Bank of New York Mellon Corp increased its holdings in Diamondback Energy by 13.7% during the 4th quarter. Bank of New York Mellon Corp now owns 4,163,070 shares of the oil and natural gas company’s stock worth $682,036,000 after purchasing an additional 502,916 shares in the last quarter. Pacer Advisors Inc. raised its stake in shares of Diamondback Energy by 9.3% in the third quarter. Pacer Advisors Inc. now owns 2,704,520 shares of the oil and natural gas company’s stock worth $466,259,000 after purchasing an additional 230,689 shares during the last quarter. Finally, Diamond Hill Capital Management Inc. lifted its holdings in shares of Diamondback Energy by 25.6% in the third quarter. Diamond Hill Capital Management Inc. now owns 2,158,910 shares of the oil and natural gas company’s stock valued at $372,196,000 after purchasing an additional 439,579 shares in the last quarter. Institutional investors own 90.01% of the company’s stock.

Analysts Set New Price Targets

Several brokerages recently issued reports on FANG. JPMorgan Chase & Co. upped their price target on Diamondback Energy from $191.00 to $195.00 and gave the stock an “overweight” rating in a report on Friday, January 17th. Royal Bank of Canada reaffirmed an “outperform” rating and set a $210.00 price objective 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 target price for the company in a report on Friday, January 3rd. Morgan Stanley boosted their price target on shares of Diamondback Energy from $220.00 to $227.00 and gave the stock an “overweight” rating in a report on Wednesday, February 19th. Finally, StockNews.com raised shares of Diamondback Energy from a “sell” rating to a “hold” rating in a research report on Wednesday, November 13th. Four investment analysts have rated the stock with a hold rating, eighteen have given a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat.com, Diamondback Energy currently has a consensus rating of “Moderate Buy” and a consensus target price of $216.09.

Diamondback Energy Price Performance

Shares of NASDAQ:FANG opened at $155.59 on Friday. The firm has a market capitalization of $45.43 billion, a PE ratio of 8.91, a P/E/G ratio of 1.24 and a beta of 1.86. The company has a quick ratio of 0.42, a current ratio of 0.45 and a debt-to-equity ratio of 0.31. The company has a 50-day moving average price of $165.34 and a two-hundred day moving average price of $175.63. Diamondback Energy, Inc. has a twelve month low of $151.00 and a twelve month high of $214.50.

Diamondback Energy (NASDAQ:FANG) last released its quarterly earnings data on Tuesday, February 25th. The oil and natural gas company reported $3.64 EPS for the quarter, topping 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 company had revenue of $3.71 billion during the quarter, compared to the consensus estimate of $3.55 billion. Equities analysts forecast that Diamondback Energy, Inc. will post 15.49 EPS for the current year.

Diamondback Energy Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, March 13th. Stockholders of record on Thursday, March 6th will be given a $1.00 dividend. The ex-dividend date of this dividend is Thursday, March 6th. This is a boost from Diamondback Energy’s previous quarterly dividend of $0.90. This represents a $4.00 annualized dividend and a dividend yield of 2.57%. Diamondback Energy’s payout ratio is 25.32%.

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.