Diamondback Energy, Inc. (NASDAQ:FANG) Shares Sold by Intech Investment Management LLC

Intech Investment Management LLC decreased its holdings in Diamondback Energy, Inc. (NASDAQ:FANG) by 58.1% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 22,029 shares of the oil and natural gas company’s stock after selling 30,559 shares during the period. Intech Investment Management LLC’s holdings in Diamondback Energy were worth $3,609,000 at the end of the most recent quarter.

A number of other hedge funds also recently bought and sold shares of FANG. Mutual of America Capital Management LLC raised its holdings in Diamondback Energy by 2.6% in the 3rd quarter. Mutual of America Capital Management LLC now owns 23,098 shares of the oil and natural gas company’s stock valued at $3,982,000 after acquiring an additional 588 shares during the last quarter. Caprock Group LLC increased its holdings in shares of Diamondback Energy by 3.0% during the 3rd quarter. Caprock Group LLC now owns 8,074 shares of the oil and natural gas company’s stock worth $1,392,000 after buying an additional 237 shares during the last quarter. Prospera Financial Services Inc increased its holdings in shares of Diamondback Energy by 56.9% during the 3rd quarter. Prospera Financial Services Inc now owns 4,553 shares of the oil and natural gas company’s stock worth $786,000 after buying an additional 1,651 shares during the last quarter. Banque Cantonale Vaudoise acquired a new stake in shares of Diamondback Energy during the 3rd quarter worth approximately $105,000. Finally, B. Metzler seel. Sohn & Co. Holding AG acquired a new stake in shares of Diamondback Energy during the 3rd quarter worth approximately $585,000. Institutional investors and hedge funds own 90.01% of the company’s stock.

Insider Activity at Diamondback Energy

In other Diamondback Energy news, Director Frank D. Tsuru bought 2,000 shares of Diamondback Energy stock in a transaction dated Friday, February 28th. The stock was acquired at an average cost of $156.51 per share, with a total value of $313,020.00. Following the completion of the acquisition, the director now owns 5,730 shares of the company’s stock, valued at approximately $896,802.30. This represents a 53.62 % increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.48% of the stock is owned by corporate insiders.

Diamondback Energy Price Performance

Shares of FANG opened at $157.60 on Thursday. Diamondback Energy, Inc. has a 1-year low of $137.09 and a 1-year high of $214.50. The stock has a market cap of $45.62 billion, a PE ratio of 9.02, a price-to-earnings-growth ratio of 1.24 and a beta of 1.85. 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 firm has a fifty day moving average price of $161.05 and a 200 day moving average price of $170.85.

Diamondback Energy (NASDAQ:FANG) last announced its quarterly earnings results on Tuesday, February 25th. The oil and natural gas company reported $3.64 earnings per share for the quarter, beating analysts’ consensus estimates of $3.57 by $0.07. Diamondback Energy had a net margin of 33.64% and a return on equity of 13.68%. The firm had revenue of $3.71 billion during the quarter, compared to analysts’ expectations of $3.55 billion. As a group, sell-side analysts anticipate that Diamondback Energy, Inc. will post 15.49 EPS for the current year.

Diamondback Energy Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, March 13th. Investors of record on Thursday, March 6th were given a $1.00 dividend. The ex-dividend date was Thursday, March 6th. This is a boost from Diamondback Energy’s previous quarterly dividend of $0.90. This represents a $4.00 dividend on an annualized basis and a yield of 2.54%. Diamondback Energy’s payout ratio is 25.32%.

Wall Street Analysts Forecast Growth

FANG has been the subject of a number of recent analyst reports. JPMorgan Chase & Co. cut their price target on shares of Diamondback Energy from $212.00 to $167.00 and set an “overweight” rating for the company in a report on Thursday, March 13th. UBS Group raised their price target on shares of Diamondback Energy from $212.00 to $216.00 and gave the stock a “buy” rating in a report on Thursday, February 13th. Mizuho raised their price target on shares of Diamondback Energy from $201.00 to $204.00 and gave the stock an “outperform” rating in a report on Tuesday, February 25th. Wells Fargo & Company cut their price target on shares of Diamondback Energy from $219.00 to $215.00 and set an “overweight” rating for the company in a report on Wednesday, March 12th. Finally, Royal Bank of Canada reiterated an “outperform” rating and issued a $210.00 target price on shares of Diamondback Energy in a report on Thursday, January 23rd. Four equities research analysts have rated the stock with a hold rating, eighteen have issued a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $209.92.

About Diamondback Energy

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.