Diversified Enterprises LLC Purchases New Stake in Diamondback Energy, Inc. (NASDAQ:FANG)

Diversified Enterprises LLC purchased a new stake in shares of Diamondback Energy, Inc. (NASDAQ:FANG) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 1,636 shares of the oil and natural gas company’s stock, valued at approximately $268,000.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Copperwynd Financial LLC raised its holdings in Diamondback Energy by 28.1% during the 4th quarter. Copperwynd Financial LLC now owns 5,015 shares of the oil and natural gas company’s stock valued at $822,000 after buying an additional 1,099 shares during the last quarter. First National Trust Co bought a new position in Diamondback Energy in the 4th quarter worth $2,165,000. 12th Street Asset Management Company LLC raised its holdings in Diamondback Energy by 17.6% in the 4th quarter. 12th Street Asset Management Company LLC now owns 60,195 shares of the oil and natural gas company’s stock worth $9,862,000 after purchasing an additional 8,997 shares in the last quarter. Diamond Hill Capital Management Inc. raised its holdings in Diamondback Energy by 30.5% in the 4th quarter. Diamond Hill Capital Management Inc. now owns 2,817,554 shares of the oil and natural gas company’s stock worth $461,600,000 after purchasing an additional 658,644 shares in the last quarter. Finally, Renasant Bank bought a new position in Diamondback Energy in the 4th quarter worth $277,000. 90.01% of the stock is currently owned by institutional investors.

Insider Transactions at Diamondback Energy

In other news, Director Frank D. Tsuru bought 2,000 shares of the firm’s stock in a transaction on Friday, February 28th. The shares were bought at an average price of $156.51 per share, for a total transaction of $313,020.00. Following the purchase, the director now owns 5,730 shares in the company, valued at approximately $896,802.30. The trade was a 53.62 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 0.48% of the company’s stock.

Analyst Ratings Changes

Several research analysts have commented on the stock. Royal Bank of Canada restated an “outperform” rating and issued a $210.00 price objective on shares of Diamondback Energy in a report on Thursday, January 23rd. JPMorgan Chase & Co. decreased their price objective on shares of Diamondback Energy from $212.00 to $167.00 and set an “overweight” rating for the company in a report on Thursday. Wolfe Research upgraded shares of Diamondback Energy from a “peer perform” rating to an “outperform” rating and set a $190.00 price objective for the company in a report on Friday, January 3rd. Mizuho upped their price objective 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. Finally, The Goldman Sachs Group began coverage on shares of Diamondback Energy in a research note on Monday, December 2nd. They issued a “buy” rating and a $227.00 price target for the company. One analyst has rated the stock with a sell rating, three have given a hold rating, eighteen have issued a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $211.92.

Diamondback Energy Price Performance

Shares of NASDAQ:FANG opened at $150.20 on Friday. The firm’s 50 day moving average price is $162.00 and its 200-day moving average price is $171.69. Diamondback Energy, Inc. has a twelve month low of $137.09 and a twelve month high of $214.50. The company has a quick ratio of 0.42, a current ratio of 0.45 and a debt-to-equity ratio of 0.31. The stock has a market capitalization of $43.47 billion, a PE ratio of 8.60, a price-to-earnings-growth ratio of 1.24 and a beta of 1.84.

Diamondback Energy (NASDAQ:FANG) last issued 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. 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 for the quarter, compared to analysts’ expectations of $3.55 billion. Equities research analysts expect that Diamondback Energy, Inc. will post 15.49 EPS for the current year.

Diamondback Energy Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, March 13th. Stockholders of record on Thursday, March 6th were paid a $1.00 dividend. This represents a $4.00 annualized dividend and a dividend yield of 2.66%. The ex-dividend date of this dividend was Thursday, March 6th. This is a boost 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.