Capital Research Global Investors lifted its position in shares of Diamondback Energy Inc (NASDAQ:FANG) by 38.0% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 19,577,175 shares of the oil and natural gas company’s stock after acquiring an additional 5,391,907 shares during the quarter. Capital Research Global Investors owned 12.20% of Diamondback Energy worth $1,817,936,000 at the end of the most recent quarter.
Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Municipal Employees Retirement System of Michigan boosted its stake in Diamondback Energy by 3.3% during the fourth quarter. Municipal Employees Retirement System of Michigan now owns 5,370 shares of the oil and natural gas company’s stock worth $499,000 after buying an additional 170 shares in the last quarter. Fruth Investment Management lifted its position in Diamondback Energy by 7.7% during the fourth quarter. Fruth Investment Management now owns 2,479 shares of the oil and natural gas company’s stock valued at $230,000 after purchasing an additional 178 shares during the last quarter. Chicago Partners Investment Group LLC grew its stake in Diamondback Energy by 5.8% in the 4th quarter. Chicago Partners Investment Group LLC now owns 3,439 shares of the oil and natural gas company’s stock worth $312,000 after buying an additional 188 shares in the last quarter. Northwestern Mutual Wealth Management Co. grew its stake in Diamondback Energy by 15.2% in the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 1,512 shares of the oil and natural gas company’s stock worth $140,000 after buying an additional 199 shares in the last quarter. Finally, Parallel Advisors LLC grew its stake in Diamondback Energy by 21.4% in the 4th quarter. Parallel Advisors LLC now owns 1,519 shares of the oil and natural gas company’s stock worth $141,000 after buying an additional 268 shares in the last quarter. Institutional investors and hedge funds own 96.90% of the company’s stock.
In related news, CFO Hof Matthew Kaes Van’t acquired 4,750 shares of the business’s stock in a transaction dated Thursday, March 19th. The shares were acquired at an average cost of $17.23 per share, for a total transaction of $81,842.50. Following the acquisition, the chief financial officer now directly owns 52,130 shares in the company, valued at approximately $898,199.90. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO Travis D. Stice bought 17,146 shares of the firm’s stock in a transaction that occurred on Tuesday, March 10th. The stock was bought at an average cost of $28.40 per share, for a total transaction of $486,946.40. The disclosure for this purchase can be found here. 0.47% of the stock is owned by insiders.
Shares of FANG stock traded up $2.13 during trading on Thursday, hitting $26.30. 1,818,915 shares of the stock traded hands, compared to its average volume of 6,609,867. Diamondback Energy Inc has a 52-week low of $14.55 and a 52-week high of $114.14. The firm has a market capitalization of $3.83 billion, a P/E ratio of 18.92, a price-to-earnings-growth ratio of 0.18 and a beta of 1.09. The firm’s fifty day moving average price is $54.17 and its 200-day moving average price is $78.17. The company has a debt-to-equity ratio of 0.36, a current ratio of 0.69 and a quick ratio of 0.66.
Diamondback Energy (NASDAQ:FANG) last posted its earnings results on Tuesday, February 18th. The oil and natural gas company reported $1.93 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.80 by $0.13. The company had revenue of $1.10 billion during the quarter, compared to analysts’ expectations of $1.09 billion. Diamondback Energy had a return on equity of 7.00% and a net margin of 6.05%. The firm’s quarterly revenue was up 74.4% compared to the same quarter last year. During the same quarter last year, the firm earned $1.21 earnings per share. As a group, equities research analysts expect that Diamondback Energy Inc will post 6.19 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, March 10th. Stockholders of record on Tuesday, March 3rd were given a $0.375 dividend. The ex-dividend date of this dividend was Monday, March 2nd. This represents a $1.50 dividend on an annualized basis and a dividend yield of 5.70%. This is an increase from Diamondback Energy’s previous quarterly dividend of $0.19. Diamondback Energy’s payout ratio is currently 21.65%.
FANG has been the topic of several research reports. SunTrust Banks cut shares of Diamondback Energy from a “buy” rating to a “hold” rating in a research report on Monday, March 9th. Imperial Capital reiterated an “outperform” rating and issued a $110.00 target price (up from $88.00) on shares of Diamondback Energy in a research report on Tuesday, January 14th. Bank of America reissued a “buy” rating and issued a $125.00 target price on shares of Diamondback Energy in a research note on Tuesday, February 18th. Zacks Investment Research upgraded Diamondback Energy from a “hold” rating to a “buy” rating and set a $88.00 price target on the stock in a research report on Monday, January 27th. Finally, Roth Capital downgraded Diamondback Energy from a “buy” rating to a “neutral” rating in a research report on Friday, March 13th. Two analysts have rated the stock with a sell rating, six have issued a hold rating and nineteen have assigned a buy rating to the company’s stock. The company has a consensus rating of “Buy” and an average price target of $104.08.
About Diamondback Energy
Diamondback Energy, Inc, an independent oil and natural gas company, focuses on the acquisition, development, exploration, and exploitation of unconventional and onshore oil and natural gas reserves in the Permian Basin in West Texas. It primarily 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.
Recommended Story: What is a management fee?
Receive News & Ratings for Diamondback Energy Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Diamondback Energy and related companies with MarketBeat.com's FREE daily email newsletter.