Ossiam Purchases 2,294 Shares of Diamondback Energy, Inc. (NASDAQ:FANG)

Ossiam boosted its holdings in Diamondback Energy, Inc. (NASDAQ:FANG) by 96.6% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 4,669 shares of the oil and natural gas company’s stock after buying an additional 2,294 shares during the quarter. Ossiam’s holdings in Diamondback Energy were worth $765,000 at the end of the most recent reporting period.

Several other hedge funds have also added to or reduced their stakes in the business. Boston Partners increased its position in Diamondback Energy by 12.4% in the 4th quarter. Boston Partners now owns 5,169,742 shares of the oil and natural gas company’s stock valued at $849,202,000 after acquiring an additional 571,820 shares during the period. Geode Capital Management LLC grew its position in shares of Diamondback Energy by 2.0% in the 4th quarter. Geode Capital Management LLC now owns 4,710,165 shares of the oil and natural gas company’s stock valued at $769,706,000 after buying an additional 91,605 shares during the last quarter. Bank of New York Mellon Corp increased its stake in shares of Diamondback Energy by 13.7% in the fourth quarter. Bank of New York Mellon Corp now owns 4,163,070 shares of the oil and natural gas company’s stock valued at $682,036,000 after buying an additional 502,916 shares during the period. Demars Financial Group LLC bought a new position in shares of Diamondback Energy during the fourth quarter worth about $638,050,000. Finally, Invesco Ltd. boosted its holdings in Diamondback Energy by 12.6% in the fourth quarter. Invesco Ltd. now owns 3,086,468 shares of the oil and natural gas company’s stock valued at $505,656,000 after acquiring an additional 345,353 shares during the last quarter. 90.01% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Diamondback Energy

In related news, Director Frank D. Tsuru purchased 2,000 shares of the firm’s stock in a transaction dated Friday, February 28th. The stock was bought at an average price of $156.51 per share, for a total transaction of $313,020.00. Following the purchase, the director now directly 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 document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 0.48% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on the stock. Raymond James reduced their price objective on shares of Diamondback Energy from $245.00 to $214.00 and set a “strong-buy” rating on the stock in a research note on Wednesday, March 12th. Wolfe Research raised 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. Wells Fargo & Company lowered their target price on Diamondback Energy from $215.00 to $207.00 and set an “overweight” rating for the company in a report on Monday. UBS Group cut their price target on Diamondback Energy from $175.00 to $163.00 and set a “buy” rating on the stock in a report on Thursday, April 17th. Finally, KeyCorp dropped their target price on shares of Diamondback Energy from $216.00 to $180.00 and set an “overweight” rating on the stock in a research report on Monday. Three equities research analysts have rated the stock with a hold rating, nineteen have issued a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $204.29.

Diamondback Energy Price Performance

FANG opened at $132.35 on Tuesday. 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 firm’s fifty day moving average price is $146.67 and its two-hundred day moving average price is $164.21. Diamondback Energy, Inc. has a 1 year low of $114.00 and a 1 year high of $214.50. The company has a market capitalization of $38.92 billion, a price-to-earnings ratio of 7.58, a P/E/G ratio of 1.24 and a beta of 1.44.

Diamondback Energy (NASDAQ:FANG) last posted its quarterly earnings data on Tuesday, February 25th. The oil and natural gas company reported $3.64 EPS for the quarter, beating the consensus estimate of $3.57 by $0.07. Diamondback Energy had a net margin of 33.64% and a return on equity of 13.68%. The firm had revenue of $3.71 billion during the quarter, compared to analyst estimates of $3.55 billion. As a group, analysts anticipate that Diamondback Energy, Inc. will post 15.49 earnings per share for the current fiscal year.

Diamondback Energy Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, March 13th. Shareholders of record on Thursday, March 6th were paid a $1.00 dividend. This represents a $4.00 dividend on an annualized basis and a yield of 3.02%. The ex-dividend date of this dividend was Thursday, March 6th. This is an increase from Diamondback Energy’s previous quarterly dividend of $0.90. Diamondback Energy’s dividend payout ratio is 25.32%.

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.