Headlands Technologies LLC Boosts Stock Position in Diamondback Energy, Inc. (NASDAQ:FANG)

Headlands Technologies LLC grew its stake in Diamondback Energy, Inc. (NASDAQ:FANG) by 49.7% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 9,816 shares of the oil and natural gas company’s stock after purchasing an additional 3,261 shares during the period. Headlands Technologies LLC’s holdings in Diamondback Energy were worth $1,608,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently bought and sold shares of the company. Lakewood Asset Management LLC increased its position in shares of Diamondback Energy by 0.5% during the fourth quarter. Lakewood Asset Management LLC now owns 11,340 shares of the oil and natural gas company’s stock worth $1,858,000 after acquiring an additional 60 shares during the period. Magnolia Capital Advisors LLC raised its stake in Diamondback Energy by 2.0% in the 4th quarter. Magnolia Capital Advisors LLC now owns 3,247 shares of the oil and natural gas company’s stock worth $532,000 after acquiring an additional 64 shares during the last quarter. Barden Capital Management Inc. lifted its position in Diamondback Energy by 1.5% during the 4th quarter. Barden Capital Management Inc. now owns 4,380 shares of the oil and natural gas company’s stock worth $718,000 after acquiring an additional 64 shares during the period. Greenleaf Trust lifted its stake in Diamondback Energy by 1.0% during the 4th quarter. Greenleaf Trust now owns 6,892 shares of the oil and natural gas company’s stock valued at $1,129,000 after acquiring an additional 66 shares during the period. Finally, Buckhead Capital Management LLC grew its position in Diamondback Energy by 0.3% during the 4th quarter. Buckhead Capital Management LLC now owns 19,830 shares of the oil and natural gas company’s stock worth $3,249,000 after purchasing an additional 67 shares during the period. 90.01% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on FANG. Williams Trading set a $190.00 price target on Diamondback Energy in a research note on Wednesday, March 5th. Barclays reduced their price objective on shares of Diamondback Energy from $210.00 to $200.00 and set an “overweight” rating on the stock in a report on Tuesday, March 18th. Wells Fargo & Company dropped their price objective on Diamondback Energy from $219.00 to $215.00 and set an “overweight” rating for the company in a research note on Wednesday, March 12th. Wolfe Research upgraded 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. Finally, UBS Group boosted their target price on shares of Diamondback Energy from $212.00 to $216.00 and gave the stock a “buy” rating in a research note on Thursday, February 13th. Four investment analysts have rated the stock with a hold rating, eighteen have assigned a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $209.33.

Insider Activity

In other Diamondback Energy news, Director Frank D. Tsuru purchased 2,000 shares of the firm’s 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 in the company, valued at approximately $896,802.30. This trade represents a 53.62 % increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.48% of the stock is owned by company insiders.

Diamondback Energy Trading Up 0.6 %

FANG stock opened at $160.87 on Wednesday. Diamondback Energy, Inc. has a twelve month low of $137.09 and a twelve month high of $214.50. The business has a fifty day moving average of $157.93 and a 200-day moving average of $169.57. 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 company has a market cap of $46.56 billion, a P/E ratio of 9.21, a PEG ratio of 1.24 and a beta of 1.85.

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 research analysts expect that Diamondback Energy, Inc. will post 15.49 EPS for the current year.

Diamondback Energy Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, March 13th. Investors of record on Thursday, March 6th were paid a $1.00 dividend. The ex-dividend date was Thursday, March 6th. This represents a $4.00 dividend on an annualized basis and a yield of 2.49%. This is a positive change from Diamondback Energy’s previous quarterly dividend of $0.90. Diamondback Energy’s dividend payout ratio is 25.32%.

About Diamondback Energy

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.