29,901 Shares in Diamondback Energy, Inc. (NASDAQ:FANG) Purchased by Wedge Capital Management L L P NC

Wedge Capital Management L L P NC acquired a new position in shares of Diamondback Energy, Inc. (NASDAQ:FANG) in the fourth quarter, according to the company in its most recent filing with the SEC. The firm acquired 29,901 shares of the oil and natural gas company’s stock, valued at approximately $4,637,000.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in FANG. International Assets Investment Management LLC purchased a new stake in Diamondback Energy during the 3rd quarter worth about $257,000. CreativeOne Wealth LLC acquired a new stake in Diamondback Energy in the 3rd quarter worth about $247,000. Riverwater Partners LLC acquired a new stake in Diamondback Energy in the 3rd quarter worth about $217,000. Caprock Group LLC boosted its stake in Diamondback Energy by 30.2% in the 3rd quarter. Caprock Group LLC now owns 8,690 shares of the oil and natural gas company’s stock worth $1,346,000 after buying an additional 2,016 shares during the last quarter. Finally, Miller Howard Investments Inc. NY boosted its stake in Diamondback Energy by 0.8% in the 3rd quarter. Miller Howard Investments Inc. NY now owns 21,292 shares of the oil and natural gas company’s stock worth $3,298,000 after buying an additional 171 shares during the last quarter. Hedge funds and other institutional investors own 90.01% of the company’s stock.

Diamondback Energy Stock Up 0.4 %

NASDAQ FANG opened at $205.24 on Thursday. The stock has a market cap of $36.60 billion, a PE ratio of 11.84 and a beta of 1.93. Diamondback Energy, Inc. has a fifty-two week low of $123.41 and a fifty-two week high of $211.96. The business has a 50 day moving average price of $192.11 and a two-hundred day moving average price of $168.87. The company has a quick ratio of 0.74, a current ratio of 0.77 and a debt-to-equity ratio of 0.38.

Diamondback Energy (NASDAQ:FANG) last released its quarterly earnings results on Tuesday, February 20th. The oil and natural gas company reported $4.74 earnings per share for the quarter, topping analysts’ consensus estimates of $4.61 by $0.13. The firm had revenue of $2.23 billion during the quarter, compared to analysts’ expectations of $2.16 billion. Diamondback Energy had a return on equity of 19.56% and a net margin of 37.36%. Diamondback Energy’s quarterly revenue was up 9.8% compared to the same quarter last year. During the same quarter in the prior year, the business earned $5.29 EPS. As a group, sell-side analysts predict that Diamondback Energy, Inc. will post 18.84 EPS for the current fiscal year.

Diamondback Energy Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, March 12th. Shareholders of record on Tuesday, March 5th were given a $3.08 dividend. This represents a $12.32 dividend on an annualized basis and a dividend yield of 6.00%. This is a positive change from Diamondback Energy’s previous quarterly dividend of $0.84. The ex-dividend date was Monday, March 4th. Diamondback Energy’s dividend payout ratio is presently 20.76%.

Wall Street Analyst Weigh In

A number of analysts have issued reports on FANG shares. Royal Bank of Canada reissued an “outperform” rating and issued a $195.00 price target on shares of Diamondback Energy in a research note on Monday, March 4th. Bank Of America (Bofa) decreased their price target on Diamondback Energy from $147.00 to $129.00 and set an “underperform” rating on the stock in a research note on Thursday, January 18th. UBS Group lifted their price objective on Diamondback Energy from $183.00 to $200.00 and gave the company a “buy” rating in a research note on Wednesday, February 14th. KeyCorp boosted their target price on Diamondback Energy from $210.00 to $225.00 and gave the stock an “overweight” rating in a report on Monday. Finally, Scotiabank boosted their target price on Diamondback Energy from $210.00 to $255.00 and gave the stock a “sector outperform” rating in a report on Thursday, April 11th. One analyst has rated the stock with a sell rating, five have given a hold rating, thirteen have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $202.53.

Insider Buying and Selling at Diamondback Energy

In other Diamondback Energy news, CFO Hof Matthew Kaes Van’t sold 12,000 shares of the company’s stock in a transaction that occurred on Wednesday, March 20th. The stock was sold at an average price of $190.82, for a total value of $2,289,840.00. Following the transaction, the chief financial officer now directly owns 185,882 shares of the company’s stock, valued at approximately $35,470,003.24. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. In other Diamondback Energy news, CFO Hof Matthew Kaes Van’t sold 12,000 shares of the company’s stock in a transaction that occurred on Wednesday, March 20th. The stock was sold at an average price of $190.82, for a total value of $2,289,840.00. Following the transaction, the chief financial officer now directly owns 185,882 shares of the company’s stock, valued at approximately $35,470,003.24. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO Travis D. Stice sold 30,000 shares of the company’s stock in a transaction that occurred on Tuesday, April 2nd. The shares were sold at an average price of $200.00, for a total value of $6,000,000.00. Following the completion of the transaction, the chief executive officer now directly owns 446,610 shares in the company, valued at $89,322,000. The disclosure for this sale can be found here. Insiders have sold a total of 57,675 shares of company stock valued at $11,311,096 in the last three months. Corporate insiders own 0.43% of the company’s stock.

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.