Harvest Fund Management Co. Ltd Has $2.71 Million Position in Diamondback Energy, Inc. (NASDAQ:FANG)

Harvest Fund Management Co. Ltd increased its stake in shares of Diamondback Energy, Inc. (NASDAQ:FANG) by 103.8% in the 4th quarter, HoldingsChannel.com reports. The firm owned 17,386 shares of the oil and natural gas company’s stock after buying an additional 8,856 shares during the quarter. Harvest Fund Management Co. Ltd’s holdings in Diamondback Energy were worth $2,707,000 as of its most recent SEC filing.

Several other institutional investors have also made changes to their positions in the stock. State Street Corp boosted its holdings in shares of Diamondback Energy by 1.3% during the third quarter. State Street Corp now owns 11,858,555 shares of the oil and natural gas company’s stock worth $2,044,415,000 after purchasing an additional 149,871 shares during the period. Boston Partners boosted its holdings in shares of Diamondback Energy by 12.4% during the fourth quarter. Boston Partners now owns 5,169,742 shares of the oil and natural gas company’s stock worth $849,202,000 after purchasing an additional 571,820 shares during the period. Geode Capital Management LLC boosted its holdings in shares of 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 worth $793,611,000 after purchasing an additional 266,299 shares during the period. Bank of New York Mellon Corp boosted its holdings in shares of Diamondback Energy by 13.7% during the fourth quarter. Bank of New York Mellon Corp now owns 4,163,070 shares of the oil and natural gas company’s stock worth $682,036,000 after purchasing an additional 502,916 shares during the period. Finally, Diamond Hill Capital Management Inc. lifted its stake in Diamondback Energy by 30.5% in the fourth quarter. Diamond Hill Capital Management Inc. now owns 2,817,554 shares of the oil and natural gas company’s stock valued at $461,600,000 after acquiring an additional 658,644 shares during the last quarter. 90.01% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Diamondback Energy

In other news, Director Frank D. Tsuru bought 2,000 shares of Diamondback Energy stock in a transaction dated 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 of the company’s stock, valued at approximately $896,802.30. This trade 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 available through this link. Insiders own 0.48% of the company’s stock.

Diamondback Energy Trading Up 1.7 %

Shares of Diamondback Energy stock opened at $157.60 on Thursday. The firm has a market capitalization 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 company’s fifty day moving average price is $161.05 and its two-hundred day moving average price is $170.85. Diamondback Energy, Inc. has a 52-week low of $137.09 and a 52-week high of $214.50.

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 (EPS) for the quarter, beating the consensus estimate of $3.57 by $0.07. The firm had revenue of $3.71 billion for the quarter, compared to analyst estimates of $3.55 billion. Diamondback Energy had a net margin of 33.64% and a return on equity of 13.68%. On average, analysts expect 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. Shareholders of record on Thursday, March 6th were issued a $1.00 dividend. This represents a $4.00 annualized dividend and a yield of 2.54%. The ex-dividend date of this dividend was Thursday, March 6th. This is a positive change from Diamondback Energy’s previous quarterly dividend of $0.90. Diamondback Energy’s payout ratio is 25.32%.

Wall Street Analysts Forecast Growth

A number of analysts have issued reports on the stock. Wolfe Research upgraded shares of Diamondback Energy from a “peer perform” rating to an “outperform” rating and set a $190.00 target price for the company in a research note on Friday, January 3rd. Raymond James reduced their target price on shares of Diamondback Energy from $245.00 to $214.00 and set a “strong-buy” rating for the company in a research note on Wednesday, March 12th. Wells Fargo & Company reduced their target price on shares of Diamondback Energy from $219.00 to $215.00 and set an “overweight” rating for the company in a research note on Wednesday, March 12th. Barclays reduced their target price on shares of Diamondback Energy from $210.00 to $200.00 and set an “overweight” rating for the company in a research note on Tuesday. Finally, Williams Trading set a $190.00 target price on shares of Diamondback Energy in a research note on Wednesday, March 5th. Four equities research analysts have rated the stock with a hold rating, eighteen have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $209.92.

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.