Thoroughbred Financial Services LLC Sells 170 Shares of Diamondback Energy, Inc. (NASDAQ:FANG)

Thoroughbred Financial Services LLC lowered its position in shares of Diamondback Energy, Inc. (NASDAQ:FANG) by 2.1% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 7,901 shares of the oil and natural gas company’s stock after selling 170 shares during the period. Thoroughbred Financial Services LLC’s holdings in Diamondback Energy were worth $1,294,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of FANG. QRG Capital Management Inc. raised its holdings in Diamondback Energy by 38.4% in the 4th quarter. QRG Capital Management Inc. now owns 11,675 shares of the oil and natural gas company’s stock valued at $1,913,000 after buying an additional 3,238 shares during the last quarter. Swedbank AB increased its position in Diamondback Energy by 28.0% in the 4th quarter. Swedbank AB now owns 198,283 shares of the oil and natural gas company’s stock valued at $32,485,000 after acquiring an additional 43,361 shares during the period. Tokio Marine Asset Management Co. Ltd. raised its stake in shares of Diamondback Energy by 631.1% during the fourth quarter. Tokio Marine Asset Management Co. Ltd. now owns 43,148 shares of the oil and natural gas company’s stock valued at $7,069,000 after acquiring an additional 37,246 shares during the last quarter. Franklin Resources Inc. lifted its holdings in shares of Diamondback Energy by 48.5% during the third quarter. Franklin Resources Inc. now owns 146,870 shares of the oil and natural gas company’s stock worth $28,008,000 after purchasing an additional 47,951 shares during the period. Finally, Tectonic Advisors LLC grew its stake in shares of Diamondback Energy by 38.2% in the fourth quarter. Tectonic Advisors LLC now owns 31,467 shares of the oil and natural gas company’s stock worth $5,155,000 after purchasing an additional 8,704 shares during the last quarter. Institutional investors and hedge funds own 90.01% of the company’s stock.

Insider Activity

In related news, Director Frank D. Tsuru acquired 2,000 shares of the company’s stock in a transaction that occurred on Friday, February 28th. The shares were acquired at an average price of $156.51 per share, with a total value of $313,020.00. Following the acquisition, the director now owns 5,730 shares of the company’s stock, 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 SEC, which is available through the SEC website. Insiders own 0.48% of the company’s stock.

Diamondback Energy Price Performance

Shares of NASDAQ:FANG opened at $123.37 on Friday. The company has a market capitalization of $35.71 billion, a P/E ratio of 7.06, a price-to-earnings-growth ratio of 1.24 and a beta of 1.85. The company’s 50-day moving average is $155.91 and its 200 day moving average is $168.96. The company has a debt-to-equity ratio of 0.31, a quick ratio of 0.42 and a current ratio of 0.45. Diamondback Energy, Inc. has a fifty-two week low of $123.15 and a fifty-two week high of $214.50.

Diamondback Energy (NASDAQ:FANG) last released its earnings results on Tuesday, February 25th. The oil and natural gas company reported $3.64 earnings per share for the quarter, beating analysts’ consensus estimates of $3.57 by $0.07. The firm had revenue of $3.71 billion during the quarter, compared to the consensus estimate of $3.55 billion. Diamondback Energy had a net margin of 33.64% and a return on equity of 13.68%. On average, equities research analysts forecast that Diamondback Energy, Inc. will post 15.49 earnings per share for the current year.

Diamondback Energy Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, March 13th. Investors of record on Thursday, March 6th were paid a $1.00 dividend. This is a boost from Diamondback Energy’s previous quarterly dividend of $0.90. This represents a $4.00 dividend on an annualized basis and a yield of 3.24%. The ex-dividend date was Thursday, March 6th. Diamondback Energy’s payout ratio is currently 25.32%.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on the stock. Williams Trading set a $190.00 target price on shares of Diamondback Energy in a research report on Wednesday, March 5th. Barclays cut their price objective on shares of Diamondback Energy from $210.00 to $200.00 and set an “overweight” rating on the stock in a research report on Tuesday, March 18th. Citigroup decreased their target price on Diamondback Energy from $195.00 to $157.00 and set a “neutral” rating for the company in a research report on Monday, March 17th. JPMorgan Chase & Co. cut their price target on Diamondback Energy from $212.00 to $167.00 and set an “overweight” rating on the stock in a report on Thursday, March 13th. Finally, Wells Fargo & Company decreased their price objective on Diamondback Energy from $219.00 to $215.00 and set an “overweight” rating for the company in a report on Wednesday, March 12th. Four investment 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. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $209.33.

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.