Harvey Capital Management Inc. Has $576,000 Stock Holdings in Diamondback Energy, Inc. (NASDAQ:FANG)

Harvey Capital Management Inc. lowered its stake in Diamondback Energy, Inc. (NASDAQ:FANG) by 7.4% during the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 3,517 shares of the oil and natural gas company’s stock after selling 281 shares during the period. Harvey Capital Management Inc.’s holdings in Diamondback Energy were worth $576,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Valeo Financial Advisors LLC grew its position in shares of Diamondback Energy by 13.4% in the third quarter. Valeo Financial Advisors LLC now owns 2,750 shares of the oil and natural gas company’s stock valued at $474,000 after purchasing an additional 326 shares during the last quarter. Exchange Traded Concepts LLC bought a new stake in Diamondback Energy in the 3rd quarter valued at $87,000. Procyon Advisors LLC grew its holdings in Diamondback Energy by 2.7% in the 3rd quarter. Procyon Advisors LLC now owns 5,028 shares of the oil and natural gas company’s stock valued at $866,000 after buying an additional 134 shares in the last quarter. ORG Wealth Partners LLC bought a new position in Diamondback Energy during the 3rd quarter worth $84,000. Finally, Wedge Capital Management L L P NC lifted its holdings in shares of Diamondback Energy by 6.3% during the third quarter. Wedge Capital Management L L P NC now owns 40,692 shares of the oil and natural gas company’s stock worth $7,015,000 after buying an additional 2,394 shares in the last quarter. Institutional investors and hedge funds own 90.01% of the company’s stock.

Analyst Ratings Changes

Several equities analysts recently commented on the stock. Royal Bank of Canada restated an “outperform” rating and issued a $210.00 price target on shares of Diamondback Energy in a research note on Thursday, January 23rd. Wolfe Research upgraded shares of Diamondback Energy from a “peer perform” rating to an “outperform” rating and set a $190.00 target price on the stock in a research report on Friday, January 3rd. UBS Group dropped their price target on shares of Diamondback Energy from $235.00 to $212.00 and set a “buy” rating for the company in a research report on Monday, December 9th. Susquehanna cut their price target on Diamondback Energy from $237.00 to $233.00 and set a “positive” rating for the company in a research note on Friday, October 18th. Finally, Raymond James raised their price objective on Diamondback Energy from $237.00 to $256.00 and gave the stock a “strong-buy” rating in a research note on Thursday, January 23rd. Four analysts have rated the stock with a hold rating, eighteen have issued a buy rating and two have given a strong buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $215.00.

Diamondback Energy Trading Up 0.2 %

NASDAQ FANG opened at $162.01 on Wednesday. The business’s fifty day moving average is $167.26 and its 200 day moving average is $178.89. Diamondback Energy, Inc. has a twelve month low of $152.00 and a twelve month high of $214.50. The company has a market cap of $47.31 billion, a price-to-earnings ratio of 9.27, a price-to-earnings-growth ratio of 1.24 and a beta of 1.86. The company has a quick ratio of 0.42, a current ratio of 0.45 and a debt-to-equity ratio of 0.31.

Diamondback Energy Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, November 21st. Shareholders of record on Thursday, November 14th were given a dividend of $0.90 per share. This represents a $3.60 dividend on an annualized basis and a yield of 2.22%. The ex-dividend date was Thursday, November 14th. Diamondback Energy’s dividend payout ratio is presently 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.