Tributary Capital Management LLC Acquires 475 Shares of Diamondback Energy, Inc. (NASDAQ:FANG)

Tributary Capital Management LLC lifted its stake in Diamondback Energy, Inc. (NASDAQ:FANG) by 26.7% during the fourth quarter, HoldingsChannel reports. The firm owned 2,255 shares of the oil and natural gas company’s stock after purchasing an additional 475 shares during the period. Tributary Capital Management LLC’s holdings in Diamondback Energy were worth $369,000 at the end of the most recent quarter.

Several other institutional investors also recently added to or reduced their stakes in the stock. Financial Advocates Investment Management increased its position in shares of Diamondback Energy by 3.0% during the third quarter. Financial Advocates Investment Management now owns 1,907 shares of the oil and natural gas company’s stock worth $329,000 after acquiring an additional 55 shares during the period. Greenup Street Wealth Management LLC increased its holdings in Diamondback Energy by 3.4% during the 3rd quarter. Greenup Street Wealth Management LLC now owns 1,817 shares of the oil and natural gas company’s stock worth $313,000 after purchasing an additional 60 shares during the period. Lakewood Asset Management LLC raised its position in Diamondback Energy by 0.5% during the 4th quarter. Lakewood Asset Management LLC now owns 11,340 shares of the oil and natural gas company’s stock valued at $1,858,000 after purchasing an additional 60 shares in the last quarter. West Family Investments Inc. lifted its holdings in shares of Diamondback Energy by 3.4% in the 3rd quarter. West Family Investments Inc. now owns 1,852 shares of the oil and natural gas company’s stock worth $319,000 after buying an additional 61 shares during the period. Finally, CVA Family Office LLC grew its position in shares of Diamondback Energy by 28.1% during the 3rd quarter. CVA Family Office LLC now owns 296 shares of the oil and natural gas company’s stock worth $51,000 after buying an additional 65 shares in the last quarter. Hedge funds and other institutional investors own 90.01% of the company’s stock.

Wall Street Analysts Forecast Growth

FANG has been the subject of several recent research reports. Royal Bank of Canada restated an “outperform” rating and issued a $210.00 price objective on shares of Diamondback Energy in a report on Thursday. BMO Capital Markets raised shares of Diamondback Energy from a “market perform” rating to an “outperform” rating and upped their price target for the stock from $205.00 to $215.00 in a research report on Friday, October 4th. Scotiabank cut their price objective on shares of Diamondback Energy from $245.00 to $225.00 and set a “sector outperform” rating on the stock in a report on Thursday, October 10th. Benchmark reaffirmed a “buy” rating and set a $195.00 target price on shares of Diamondback Energy in a research report on Tuesday, October 29th. Finally, UBS Group reduced their price target on Diamondback Energy from $235.00 to $212.00 and set a “buy” rating for the company in a research report on Monday, December 9th. Four analysts have rated the stock with a hold rating, eighteen have given a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $215.00.

Insider Activity at Diamondback Energy

In related news, Director Mark Lawrence Plaumann sold 1,150 shares of Diamondback Energy stock in a transaction dated Wednesday, November 13th. The stock was sold at an average price of $181.00, for a total value of $208,150.00. Following the completion of the transaction, the director now owns 4,712 shares in the company, valued at $852,872. The trade was a 19.62 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 0.48% of the company’s stock.

Diamondback Energy Trading Down 1.9 %

NASDAQ FANG opened at $173.26 on Friday. The company has a fifty day moving average of $170.28 and a 200 day moving average of $182.26. The company has a market capitalization of $50.59 billion, a PE ratio of 9.92, a P/E/G ratio of 1.44 and a beta of 1.88. The company has a debt-to-equity ratio of 0.31, a current ratio of 0.45 and a quick ratio of 0.42. Diamondback Energy, Inc. has a 1 year low of $147.93 and a 1 year high of $214.50.

Diamondback Energy (NASDAQ:FANG) last issued its 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). The company had revenue of $2.65 billion during the quarter, compared to analysts’ expectations of $2.43 billion. Diamondback Energy had a return on equity of 13.68% and a net margin of 33.64%. The firm’s quarterly revenue was up 13.0% compared to the same quarter last year. During the same quarter in the previous year, the company earned $5.49 EPS. Research analysts forecast that Diamondback Energy, Inc. will post 15.58 earnings per share for the current year.

Diamondback Energy Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, November 21st. Stockholders of record on Thursday, November 14th were issued 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 of this dividend was Thursday, November 14th. Diamondback Energy’s dividend payout ratio (DPR) is 20.61%.

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.