Diamondback Energy, Inc. (NASDAQ:FANG) Shares Bought by King Luther Capital Management Corp

King Luther Capital Management Corp raised its position in Diamondback Energy, Inc. (NASDAQ:FANG) by 5.1% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 141,950 shares of the oil and natural gas company’s stock after purchasing an additional 6,905 shares during the quarter. King Luther Capital Management Corp owned about 0.08% of Diamondback Energy worth $22,014,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently bought and sold shares of FANG. Massachusetts Financial Services Co. MA boosted its holdings in Diamondback Energy by 39.9% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 3,007,599 shares of the oil and natural gas company’s stock valued at $465,817,000 after purchasing an additional 858,446 shares during the last quarter. Wellington Management Group LLP raised its stake in shares of Diamondback Energy by 4.8% in the 3rd quarter. Wellington Management Group LLP now owns 14,266,640 shares of the oil and natural gas company’s stock valued at $2,209,617,000 after acquiring an additional 648,317 shares during the period. Raymond James & Associates raised its stake in shares of Diamondback Energy by 143.0% in the 4th quarter. Raymond James & Associates now owns 981,284 shares of the oil and natural gas company’s stock valued at $152,177,000 after acquiring an additional 577,514 shares during the period. Raymond James Financial Services Advisors Inc. raised its stake in shares of Diamondback Energy by 286.1% in the 4th quarter. Raymond James Financial Services Advisors Inc. now owns 595,694 shares of the oil and natural gas company’s stock valued at $92,380,000 after acquiring an additional 441,411 shares during the period. Finally, iA Global Asset Management Inc. raised its stake in shares of Diamondback Energy by 1,748.1% in the 3rd quarter. iA Global Asset Management Inc. now owns 281,256 shares of the oil and natural gas company’s stock valued at $43,561,000 after acquiring an additional 266,037 shares during the period. 90.01% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Diamondback Energy

In other Diamondback Energy news, CEO Travis D. Stice sold 30,000 shares of the firm’s stock in a transaction dated Tuesday, April 2nd. The shares were sold at an average price of $200.00, for a total transaction of $6,000,000.00. Following the completion of the transaction, the chief executive officer now directly owns 446,610 shares in the company, valued at approximately $89,322,000. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Diamondback Energy news, CEO Travis D. Stice sold 30,000 shares of the firm’s stock in a transaction dated Tuesday, April 2nd. The shares were sold at an average price of $200.00, for a total transaction of $6,000,000.00. Following the completion of the transaction, the chief executive officer now directly owns 446,610 shares in the company, valued at approximately $89,322,000. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CAO Teresa L. Dick sold 2,000 shares of the firm’s stock in a transaction dated Wednesday, March 20th. The stock was sold at an average price of $192.00, for a total transaction of $384,000.00. Following the sale, the chief accounting officer now directly owns 96,523 shares in the company, valued at $18,532,416. The disclosure for this sale can be found here. In the last three months, insiders sold 58,575 shares of company stock worth $11,491,006. 0.43% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

Several brokerages recently weighed in on FANG. BMO Capital Markets upped their target price on shares of Diamondback Energy from $167.00 to $175.00 and gave the stock a “market perform” rating in a research note on Tuesday, February 13th. KeyCorp boosted their price target on shares of Diamondback Energy from $210.00 to $225.00 and gave the stock an “overweight” rating in a report on Monday, April 22nd. Barclays began coverage on shares of Diamondback Energy in a report on Wednesday, April 10th. They set an “equal weight” rating and a $214.00 price target for the company. Stifel Nicolaus boosted their price target on shares of Diamondback Energy from $224.00 to $229.00 and gave the stock a “buy” rating in a report on Tuesday, April 23rd. Finally, Evercore ISI boosted their price target on shares of Diamondback Energy from $185.00 to $215.00 and gave the stock an “outperform” rating in a report on Monday, March 25th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating, fourteen have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $205.95.

Diamondback Energy Price Performance

Shares of FANG traded down $3.94 during trading hours on Wednesday, reaching $192.62. The company had a trading volume of 488,962 shares, compared to its average volume of 1,678,397. The firm has a 50 day simple moving average of $199.92 and a 200-day simple moving average of $173.97. The company has a current ratio of 0.92, a quick ratio of 0.89 and a debt-to-equity ratio of 0.37. The company has a market capitalization of $34.35 billion, a price-to-earnings ratio of 11.08 and a beta of 1.91. Diamondback Energy, Inc. has a 12-month low of $123.41 and a 12-month high of $211.96.

Diamondback Energy (NASDAQ:FANG) last announced its quarterly earnings results on Tuesday, April 30th. The oil and natural gas company reported $4.50 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $4.29 by $0.21. The business had revenue of $2.23 billion during the quarter, compared to the consensus estimate of $2.10 billion. Diamondback Energy had a net margin of 36.71% and a return on equity of 19.36%. The business’s revenue was up 15.7% compared to the same quarter last year. During the same quarter last year, the firm posted $4.10 EPS. Research analysts expect that Diamondback Energy, Inc. will post 19.01 earnings per share for the current year.

Diamondback Energy Cuts Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, May 22nd. Shareholders of record on Wednesday, May 15th will be issued a dividend of $0.90 per share. The ex-dividend date of this dividend is Tuesday, May 14th. This represents a $3.60 annualized dividend and a yield of 1.87%. Diamondback Energy’s dividend payout ratio (DPR) is currently 20.29%.

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.