Thomist Capital Management LP Buys New Stake in Diamondback Energy, Inc. (NASDAQ:FANG)

Thomist Capital Management LP bought a new stake in Diamondback Energy, Inc. (NASDAQ:FANG) during the fourth quarter, HoldingsChannel reports. The institutional investor bought 12,200 shares of the oil and natural gas company’s stock, valued at approximately $1,993,000.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. Price T Rowe Associates Inc. MD lifted its stake in Diamondback Energy by 11.3% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 9,136,645 shares of the oil and natural gas company’s stock valued at $1,496,859,000 after buying an additional 928,429 shares in the last quarter. Boston Partners lifted its stake in shares of Diamondback Energy by 12.4% during the 4th quarter. Boston Partners now owns 5,169,742 shares of the oil and natural gas company’s stock worth $849,202,000 after purchasing an additional 571,820 shares during the period. Geode Capital Management LLC lifted its stake in shares of Diamondback Energy by 2.0% during the 4th quarter. Geode Capital Management LLC now owns 4,710,165 shares of the oil and natural gas company’s stock worth $769,706,000 after purchasing an additional 91,605 shares during the period. Bank of New York Mellon Corp lifted its stake in shares of 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 during the period. Finally, Demars Financial Group LLC purchased a new position in shares of Diamondback Energy during the 4th quarter worth $638,050,000. Hedge funds and other institutional investors own 90.01% of the company’s stock.

Diamondback Energy Stock Down 0.6%

Shares of Diamondback Energy stock opened at $141.13 on Friday. The business has a 50-day moving average of $141.25 and a 200-day moving average of $158.00. The company has a debt-to-equity ratio of 0.31, a current ratio of 0.45 and a quick ratio of 0.42. The company has a market capitalization of $41.23 billion, a PE ratio of 8.08, a P/E/G ratio of 1.24 and a beta of 1.06. Diamondback Energy, Inc. has a 1-year low of $114.00 and a 1-year high of $214.50.

Diamondback Energy (NASDAQ:FANG) last announced its earnings results on Monday, May 5th. The oil and natural gas company reported $4.54 earnings per share for the quarter, beating the consensus estimate of $3.67 by $0.87. The company had revenue of $4.05 billion during the quarter, compared to the consensus estimate of $3.58 billion. Diamondback Energy had a return on equity of 13.68% and a net margin of 33.64%. The company’s revenue was up 81.8% on a year-over-year basis. During the same period last year, the firm earned $4.50 earnings per share. As a group, equities analysts forecast that Diamondback Energy, Inc. will post 15.49 EPS for the current fiscal year.

Diamondback Energy Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, May 22nd. Stockholders of record on Thursday, May 15th will be given a dividend of $1.00 per share. The ex-dividend date is Thursday, May 15th. This represents a $4.00 annualized dividend and a dividend yield of 2.83%. Diamondback Energy’s payout ratio is 24.46%.

Insider Transactions at Diamondback Energy

In other Diamondback Energy news, President Hof Matthew Kaes Van’t sold 10,000 shares of the firm’s stock in a transaction dated Monday, May 12th. The shares were sold at an average price of $142.69, for a total value of $1,426,900.00. Following the transaction, the president now owns 120,645 shares of the company’s stock, valued at $17,214,835.05. This trade represents a 7.65% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Frank D. Tsuru bought 2,000 shares of the business’s stock in a transaction on Friday, February 28th. The stock was acquired at an average cost 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. The trade was a 53.62% increase in their ownership of the stock. The disclosure for this purchase can be found here. Corporate insiders own 0.70% of the company’s stock.

Analyst Ratings Changes

A number of analysts have recently commented on the company. UBS Group dropped their price objective on Diamondback Energy from $175.00 to $163.00 and set a “buy” rating for the company in a report on Thursday, April 17th. Mizuho dropped their price objective on Diamondback Energy from $186.00 to $179.00 and set an “outperform” rating for the company in a report on Tuesday, May 13th. Truist Financial upped their price objective on Diamondback Energy from $238.00 to $242.00 and gave the stock a “buy” rating in a report on Thursday, April 17th. Scotiabank dropped their price objective 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. Finally, Royal Bank of Canada assumed coverage on Diamondback Energy in a report on Friday, May 2nd. They set an “outperform” rating and a $180.00 price objective for the company. Two research analysts have rated the stock with a hold rating, nineteen have given a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat, Diamondback Energy currently has an average rating of “Buy” and a consensus price target of $194.09.

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.