Tributary Capital Management LLC Increases Holdings in Diamondback Energy, Inc. (NASDAQ:FANG)

Tributary Capital Management LLC grew its position in shares of Diamondback Energy, Inc. (NASDAQ:FANG) by 26.7% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,255 shares of the oil and natural gas company’s stock after buying an additional 475 shares during the quarter. Tributary Capital Management LLC’s holdings in Diamondback Energy were worth $369,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also recently modified their holdings of FANG. Franklin Resources Inc. boosted its position 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 during the last quarter. Benjamin Edwards Inc. lifted its stake in shares of Diamondback Energy by 368.1% in the 3rd quarter. Benjamin Edwards Inc. now owns 9,784 shares of the oil and natural gas company’s stock worth $1,687,000 after purchasing an additional 7,694 shares during the period. Everence Capital Management Inc. purchased a new position in shares of Diamondback Energy in the fourth quarter worth approximately $1,053,000. Geode Capital Management LLC grew its position in Diamondback Energy by 6.1% during the third quarter. Geode Capital Management LLC now owns 4,618,560 shares of the oil and natural gas company’s stock valued at $793,611,000 after buying an additional 266,299 shares during the period. Finally, Atria Investments Inc increased its holdings in Diamondback Energy by 18.5% during the third quarter. Atria Investments Inc now owns 42,678 shares of the oil and natural gas company’s stock valued at $7,358,000 after buying an additional 6,672 shares during the last quarter. 90.01% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on the stock. JPMorgan Chase & Co. boosted their price objective on shares of Diamondback Energy from $191.00 to $195.00 and gave the company an “overweight” rating in a research report on Friday, January 17th. Evercore ISI cut their price target on Diamondback Energy from $235.00 to $209.00 and set an “outperform” rating for the company in a report on Monday, September 30th. Citigroup started coverage on Diamondback Energy in a research note on Monday, October 14th. They issued a “neutral” rating and a $195.00 price objective on the stock. Benchmark reaffirmed a “buy” rating and set a $195.00 price objective on shares of Diamondback Energy in a research report on Tuesday, October 29th. Finally, Susquehanna reduced their target price on shares of Diamondback Energy from $237.00 to $233.00 and set a “positive” rating for the company in a report on Friday, October 18th. Four investment analysts have rated the stock with a hold rating, eighteen have assigned a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $215.00.

Insider Activity at Diamondback Energy

In related news, Director Mark Lawrence Plaumann sold 1,150 shares of the company’s stock in a transaction dated Wednesday, November 13th. The shares were sold at an average price of $181.00, for a total transaction of $208,150.00. Following the transaction, the director now directly owns 4,712 shares in the company, valued at approximately $852,872. This represents a 19.62 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 0.48% of the stock is currently owned by insiders.

Diamondback Energy Price Performance

FANG stock opened at $173.26 on Friday. Diamondback Energy, Inc. has a 52 week low of $147.93 and a 52 week high of $214.50. The firm has a market capitalization of $50.59 billion, a P/E ratio of 9.92, a price-to-earnings-growth ratio of 1.44 and a beta of 1.88. The company has a fifty day simple moving average of $170.28 and a two-hundred day simple moving average of $182.26. The company has a quick ratio of 0.42, a current ratio of 0.45 and a debt-to-equity ratio of 0.31.

Diamondback Energy (NASDAQ:FANG) last announced its quarterly earnings results on Monday, November 4th. The oil and natural gas company reported $3.38 EPS for the quarter, missing analysts’ consensus estimates of $4.62 by ($1.24). Diamondback Energy had a net margin of 33.64% and a return on equity of 13.68%. The business had revenue of $2.65 billion during the quarter, compared to the consensus estimate of $2.43 billion. During the same period in the previous year, the business posted $5.49 EPS. The firm’s revenue was up 13.0% on a year-over-year basis. Analysts anticipate that Diamondback Energy, Inc. will post 15.58 earnings per share for the current fiscal year.

Diamondback Energy Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, November 21st. Stockholders of record on Thursday, November 14th were given a dividend of $0.90 per share. This represents a $3.60 annualized dividend and a dividend yield of 2.08%. The ex-dividend date was Thursday, November 14th. Diamondback Energy’s dividend payout ratio is currently 20.61%.

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.