Diamondback Energy, Inc. (NASDAQ:FANG) Holdings Raised by Metis Global Partners LLC

Metis Global Partners LLC boosted its stake in Diamondback Energy, Inc. (NASDAQ:FANG) by 10.5% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 8,493 shares of the oil and natural gas company’s stock after buying an additional 804 shares during the quarter. Metis Global Partners LLC’s holdings in Diamondback Energy were worth $1,391,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. State Street Corp increased its stake in shares of Diamondback Energy by 1.3% during the 3rd 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 purchasing an additional 149,871 shares during the last quarter. Geode Capital Management LLC increased its stake in shares of 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 worth $793,611,000 after purchasing an additional 266,299 shares during the last quarter. Bank of New York Mellon Corp increased 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 last quarter. Pacer Advisors Inc. increased its stake in shares of Diamondback Energy by 9.3% during the 3rd 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. increased its stake in shares of Diamondback Energy by 25.6% during the 3rd quarter. Diamond Hill Capital Management Inc. now owns 2,158,910 shares of the oil and natural gas company’s stock worth $372,196,000 after purchasing an additional 439,579 shares during the last quarter. Hedge funds and other institutional investors own 90.01% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on FANG. Mizuho increased their price target on shares of Diamondback Energy from $201.00 to $204.00 and gave the stock an “outperform” rating in a research note on Tuesday, February 25th. Raymond James increased their price target on shares of Diamondback Energy from $237.00 to $256.00 and gave the stock a “strong-buy” rating in a research note on Thursday, January 23rd. Royal Bank of Canada restated an “outperform” rating and set a $210.00 price target on shares of Diamondback Energy in a research note on Thursday, January 23rd. StockNews.com upgraded shares of Diamondback Energy from a “sell” rating to a “hold” rating in a research note on Wednesday, November 13th. Finally, The Goldman Sachs Group assumed coverage on shares of Diamondback Energy in a research note on Monday, December 2nd. They issued a “buy” rating and a $227.00 target price on the stock. Four research analysts have rated the stock with a hold rating, eighteen have issued a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat, Diamondback Energy presently has an average rating of “Moderate Buy” and a consensus target price of $216.09.

Diamondback Energy Price Performance

NASDAQ:FANG opened at $148.00 on Tuesday. The company has a 50-day moving average of $165.25 and a 200-day moving average of $174.70. The company has a market capitalization of $42.84 billion, a price-to-earnings ratio of 8.47, a PEG ratio of 1.24 and a beta of 1.86. Diamondback Energy, Inc. has a 52 week low of $147.70 and a 52 week high of $214.50. The company has a debt-to-equity ratio of 0.31, a quick ratio of 0.42 and a current ratio of 0.45.

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 analysts’ consensus estimates of $3.57 by $0.07. The company had revenue of $3.71 billion during the quarter, compared to the consensus estimate 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 research analysts anticipate that Diamondback Energy, Inc. will post 15.49 earnings per share for the current fiscal year.

Diamondback Energy Increases Dividend

The firm also recently disclosed 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 2.70%. This is an increase from Diamondback Energy’s previous quarterly dividend of $0.90. The ex-dividend date of this dividend is Thursday, March 6th. Diamondback Energy’s dividend payout ratio (DPR) is presently 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.