Diamondback Energy, Inc. (NASDAQ:FANG) is Sagefield Capital LP’s 8th Largest Position

Sagefield Capital LP increased its position in Diamondback Energy, Inc. (NASDAQ:FANG) by 26.3% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 192,951 shares of the oil and natural gas company’s stock after purchasing an additional 40,129 shares during the quarter. Diamondback Energy makes up about 3.5% of Sagefield Capital LP’s investment portfolio, making the stock its 8th largest holding. Sagefield Capital LP owned about 0.07% of Diamondback Energy worth $31,611,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in the stock. Wintrust Investments LLC bought a new position in Diamondback Energy during the fourth quarter valued at approximately $28,000. R Squared Ltd purchased a new position in Diamondback Energy during the 4th quarter worth $29,000. UMB Bank n.a. boosted its position in Diamondback Energy by 247.3% during the 4th quarter. UMB Bank n.a. now owns 191 shares of the oil and natural gas company’s stock valued at $31,000 after acquiring an additional 136 shares in the last quarter. Key Financial Inc boosted its position in Diamondback Energy by 940.0% during the 4th quarter. Key Financial Inc now owns 208 shares of the oil and natural gas company’s stock valued at $34,000 after acquiring an additional 188 shares in the last quarter. Finally, Transce3nd LLC acquired a new stake in shares of Diamondback Energy in the 4th quarter worth $38,000. Hedge funds and other institutional investors own 90.01% of the company’s stock.

Insider Activity

In other news, President Hof Matthew Kaes Van’t sold 10,000 shares of the business’s stock in a transaction that occurred on Monday, May 12th. The shares were sold at an average price of $142.69, for a total value of $1,426,900.00. Following the transaction, the president now owns 120,645 shares in the company, valued at approximately $17,214,835.05. The trade was a 7.65% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Frank D. Tsuru acquired 2,000 shares of the stock in a transaction dated Friday, February 28th. The stock was bought at an average price of $156.51 per share, with a total value of $313,020.00. Following the purchase, the director now directly owns 5,730 shares in the company, valued at $896,802.30. This represents a 53.62% increase in their ownership of the stock. The disclosure for this purchase can be found here. 0.70% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

A number of analysts have commented on the company. Evercore ISI started coverage on Diamondback Energy in a research report on Tuesday, May 6th. They set an “outperform” rating and a $165.00 price target for the company. Raymond James lowered their target price on Diamondback Energy from $245.00 to $214.00 and set a “strong-buy” rating on the stock in a report on Wednesday, March 12th. UBS Group lowered their target price on Diamondback Energy from $175.00 to $163.00 and set a “buy” rating on the stock in a report on Thursday, April 17th. Susquehanna decreased their price objective on Diamondback Energy from $219.00 to $194.00 and set a “positive” rating on the stock in a report on Tuesday, April 22nd. Finally, Williams Trading set a $190.00 target price on Diamondback Energy in a research report on Wednesday, March 5th. Two equities research analysts have rated the stock with a hold rating, nineteen have assigned a buy rating and two have given a strong buy rating to the stock. According to MarketBeat, Diamondback Energy currently has an average rating of “Buy” and a consensus target price of $194.09.

Diamondback Energy Stock Down 0.6%

Diamondback Energy stock opened at $141.13 on Friday. The company has a 50 day moving average of $141.25 and a 200-day moving average of $158.13. 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 stock has a market capitalization of $41.23 billion, a PE ratio of 8.08, a price-to-earnings-growth ratio of 1.24 and a beta of 1.06. Diamondback Energy, Inc. has a twelve month low of $114.00 and a twelve month high of $214.50.

Diamondback Energy (NASDAQ:FANG) last released its quarterly earnings data on Monday, May 5th. The oil and natural gas company reported $4.54 earnings per share for the quarter, topping the consensus estimate of $3.67 by $0.87. The company had revenue of $4.05 billion for the quarter, compared to analyst estimates of $3.58 billion. Diamondback Energy had a net margin of 33.64% and a return on equity of 13.68%. Diamondback Energy’s revenue for the quarter was up 81.8% compared to the same quarter last year. During the same period in the previous year, the business earned $4.50 EPS. On average, equities research analysts anticipate that Diamondback Energy, Inc. will post 15.49 EPS for the current fiscal year.

Diamondback Energy Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, May 22nd. Shareholders of record on Thursday, May 15th will be paid a dividend of $1.00 per share. The ex-dividend date is Thursday, May 15th. This represents a $4.00 dividend on an annualized basis and a yield of 2.83%. Diamondback Energy’s payout ratio is 24.46%.

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.