Oppenheimer Asset Management Inc. Has $9.07 Million Stock Position in Diamondback Energy, Inc. (NASDAQ:FANG)

Oppenheimer Asset Management Inc. cut its stake in shares of Diamondback Energy, Inc. (NASDAQ:FANG) by 1.4% in the 4th quarter, HoldingsChannel.com reports. The firm owned 55,386 shares of the oil and natural gas company’s stock after selling 778 shares during the quarter. Oppenheimer Asset Management Inc.’s holdings in Diamondback Energy were worth $9,074,000 as of its most recent SEC filing.

Other hedge funds have also recently bought and sold shares of the company. Assenagon Asset Management S.A. boosted its holdings in shares of Diamondback Energy by 1,153.0% in the 4th quarter. Assenagon Asset Management S.A. now owns 1,132,918 shares of the oil and natural gas company’s stock valued at $185,606,000 after buying an additional 1,042,505 shares during the last quarter. Zimmer Partners LP bought a new stake in Diamondback Energy during the third quarter worth $87,924,000. Bank of New York Mellon Corp raised its position in Diamondback Energy by 13.7% during the fourth 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 acquiring an additional 502,916 shares in the last quarter. Holocene Advisors LP lifted its stake in Diamondback Energy by 95.3% in the third quarter. Holocene Advisors LP now owns 938,474 shares of the oil and natural gas company’s stock valued at $161,793,000 after acquiring an additional 457,896 shares during the last quarter. Finally, Diamond Hill Capital Management Inc. grew its position in shares of Diamondback Energy by 25.6% in the 3rd 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 acquiring an additional 439,579 shares during the period. 90.01% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on the stock. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $210.00 target price on shares of Diamondback Energy in a report on Thursday, January 23rd. UBS Group raised their price objective on Diamondback Energy from $212.00 to $216.00 and gave the company a “buy” rating in a research report on Thursday, February 13th. The Goldman Sachs Group initiated coverage on Diamondback Energy in a research note on Monday, December 2nd. They set a “buy” rating and a $227.00 target price for the company. Raymond James increased their price target on Diamondback Energy from $237.00 to $256.00 and gave the company a “strong-buy” rating in a research note on Thursday, January 23rd. Finally, Mizuho lifted their price objective on shares of Diamondback Energy from $201.00 to $204.00 and gave the stock an “outperform” rating in a research report on Tuesday. Four research 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 company’s stock. According to MarketBeat, Diamondback Energy currently has an average 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 stock 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. Diamondback Energy, Inc. has a fifty-two week low of $151.00 and a fifty-two week high of $214.50. 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 business has a fifty day moving average price of $165.34 and a two-hundred day moving average price of $175.63.

Diamondback Energy (NASDAQ:FANG) last posted its quarterly earnings data on Tuesday, February 25th. The oil and natural gas company reported $3.64 earnings per share for the quarter, topping the consensus estimate of $3.57 by $0.07. The business had revenue of $3.71 billion during the quarter, compared to analysts’ expectations of $3.55 billion. Diamondback Energy had a net margin of 33.64% and a return on equity of 13.68%. As a group, equities analysts predict that Diamondback Energy, Inc. will post 15.49 earnings per share for the current fiscal year.

Diamondback Energy Increases Dividend

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

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.