Diamond Hill Capital Management Inc. Buys 658,644 Shares of Diamondback Energy, Inc. (NASDAQ:FANG)

Diamond Hill Capital Management Inc. raised its stake in Diamondback Energy, Inc. (NASDAQ:FANG) by 30.5% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 2,817,554 shares of the oil and natural gas company’s stock after acquiring an additional 658,644 shares during the period. Diamondback Energy comprises about 2.0% of Diamond Hill Capital Management Inc.’s investment portfolio, making the stock its 12th largest position. Diamond Hill Capital Management Inc. owned 0.96% of Diamondback Energy worth $461,600,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also recently bought and sold shares of the company. QRG Capital Management Inc. grew its position in Diamondback Energy by 38.4% in the fourth quarter. QRG Capital Management Inc. now owns 11,675 shares of the oil and natural gas company’s stock valued at $1,913,000 after acquiring an additional 3,238 shares during the period. Swedbank AB boosted its stake in Diamondback Energy by 28.0% in the fourth quarter. Swedbank AB now owns 198,283 shares of the oil and natural gas company’s stock worth $32,485,000 after purchasing an additional 43,361 shares in the last quarter. Tokio Marine Asset Management Co. Ltd. boosted its stake in Diamondback Energy by 631.1% in the fourth quarter. Tokio Marine Asset Management Co. Ltd. now owns 43,148 shares of the oil and natural gas company’s stock worth $7,069,000 after purchasing an additional 37,246 shares in the last quarter. Franklin Resources Inc. boosted its stake in Diamondback Energy by 48.5% in the third quarter. Franklin Resources Inc. now owns 146,870 shares of the oil and natural gas company’s stock worth $28,008,000 after purchasing an additional 47,951 shares in the last quarter. Finally, Tectonic Advisors LLC boosted its stake in Diamondback Energy by 38.2% in the fourth quarter. Tectonic Advisors LLC now owns 31,467 shares of the oil and natural gas company’s stock worth $5,155,000 after purchasing an additional 8,704 shares in the last quarter. 90.01% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

FANG has been the topic of a number of recent analyst reports. Mizuho boosted their price objective on Diamondback Energy from $201.00 to $204.00 and gave the stock an “outperform” rating in a research note on Tuesday, February 25th. Morgan Stanley boosted their price objective on Diamondback Energy from $220.00 to $227.00 and gave the stock an “overweight” rating in a research note on Wednesday, February 19th. Wolfe Research raised Diamondback Energy from a “peer perform” rating to an “outperform” rating and set a $190.00 price objective on the stock in a research note on Friday, January 3rd. Royal Bank of Canada reissued an “outperform” rating and issued a $210.00 price objective on shares of Diamondback Energy in a research note on Thursday, January 23rd. Finally, UBS Group boosted their price objective on Diamondback Energy from $212.00 to $216.00 and gave the stock a “buy” rating in a research note on Thursday, February 13th. One analyst has rated the stock with a sell rating, three have issued a hold rating, eighteen have assigned a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat, Diamondback Energy currently has a consensus rating of “Moderate Buy” and a consensus price target of $211.92.

Diamondback Energy Stock Down 0.5 %

Shares of Diamondback Energy stock opened at $145.80 on Friday. The company has a market capitalization of $42.20 billion, a P/E ratio of 8.35, a price-to-earnings-growth ratio of 1.24 and a beta of 1.84. 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 50-day moving average of $162.41 and a two-hundred day moving average of $172.18. Diamondback Energy, Inc. has a 1 year low of $137.09 and a 1 year high of $214.50.

Diamondback Energy (NASDAQ:FANG) last released its quarterly earnings results 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 for the quarter, compared to analyst estimates of $3.55 billion. Diamondback Energy had a return on equity of 13.68% and a net margin of 33.64%. As a group, equities analysts predict that Diamondback Energy, Inc. will post 15.49 EPS for the current year.

Diamondback Energy Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, March 13th. Stockholders of record on Thursday, March 6th were given a dividend of $1.00 per share. The ex-dividend date was Thursday, March 6th. This represents a $4.00 dividend on an annualized basis and a dividend yield of 2.74%. This is a positive change from Diamondback Energy’s previous quarterly dividend of $0.90. Diamondback Energy’s dividend payout ratio (DPR) is currently 25.32%.

Insider Transactions at Diamondback Energy

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

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.