Diamondback Energy, Inc. (NASDAQ:FANG) Shares Sold by Gulf International Bank UK Ltd

Gulf International Bank UK Ltd trimmed its holdings in Diamondback Energy, Inc. (NASDAQ:FANG) by 0.7% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 13,504 shares of the oil and natural gas company’s stock after selling 97 shares during the period. Gulf International Bank UK Ltd’s holdings in Diamondback Energy were worth $2,212,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also recently added to or reduced their stakes in FANG. Assenagon Asset Management S.A. grew its stake in Diamondback Energy by 1,153.0% in the 4th quarter. Assenagon Asset Management S.A. now owns 1,132,918 shares of the oil and natural gas company’s stock valued at $185,606,000 after acquiring an additional 1,042,505 shares during the last quarter. Zimmer Partners LP acquired a new stake in shares of Diamondback Energy during the 3rd quarter worth about $87,924,000. Bank of New York Mellon Corp boosted its stake in shares of Diamondback Energy by 13.7% during the 4th quarter. Bank of New York Mellon Corp now owns 4,163,070 shares of the oil and natural gas company’s stock worth $682,036,000 after purchasing an additional 502,916 shares during the last quarter. Holocene Advisors LP boosted its stake in shares of Diamondback Energy by 95.3% during the 3rd quarter. Holocene Advisors LP now owns 938,474 shares of the oil and natural gas company’s stock worth $161,793,000 after purchasing an additional 457,896 shares during the last quarter. Finally, Diamond Hill Capital Management Inc. boosted its stake in shares of Diamondback Energy by 25.6% during the 3rd quarter. Diamond Hill Capital Management Inc. now owns 2,158,910 shares of the oil and natural gas company’s stock worth $372,196,000 after purchasing an additional 439,579 shares during the last quarter. 90.01% of the stock is owned by institutional investors and hedge funds.

Diamondback Energy Trading Up 2.2 %

NASDAQ FANG opened at $158.96 on Friday. Diamondback Energy, Inc. has a one year low of $151.00 and a one year high of $214.50. The company’s 50 day moving average price is $165.42 and its 200 day moving average price is $175.33. The company has a debt-to-equity ratio of 0.31, a quick ratio of 0.42 and a current ratio of 0.45. The firm has a market capitalization of $46.41 billion, a price-to-earnings ratio of 9.10, a PEG ratio of 1.24 and a beta of 1.86.

Diamondback Energy (NASDAQ:FANG) last announced its earnings results on Tuesday, February 25th. The oil and natural gas company reported $3.64 earnings per share for the quarter, beating the consensus estimate of $3.57 by $0.07. The business 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, sell-side analysts predict that Diamondback Energy, Inc. will post 15.49 EPS for the current year.

Diamondback Energy Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, March 13th. Stockholders of record on Thursday, March 6th will be paid a dividend of $1.00 per share. The ex-dividend date of this dividend is Thursday, March 6th. This is an increase from Diamondback Energy’s previous quarterly dividend of $0.90. This represents a $4.00 annualized dividend and a dividend yield of 2.52%. Diamondback Energy’s dividend payout ratio (DPR) is currently 25.32%.

Analysts Set New Price Targets

Several research firms have issued reports on FANG. JPMorgan Chase & Co. raised their price target on shares of Diamondback Energy from $191.00 to $195.00 and gave the stock an “overweight” rating in a research note on Friday, January 17th. Morgan Stanley raised their price target on shares of Diamondback Energy from $220.00 to $227.00 and gave the stock an “overweight” rating in a research note on Wednesday, February 19th. Wolfe Research raised shares of Diamondback Energy from a “peer perform” rating to an “outperform” rating and set a $190.00 price target on the stock in a research note on Friday, January 3rd. Royal Bank of Canada reaffirmed an “outperform” rating and set a $210.00 price target on shares of Diamondback Energy in a research note on Thursday, January 23rd. Finally, Raymond James raised their price target on shares of 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 equities research analysts have rated the stock with a hold rating, eighteen have issued a buy rating and two have issued a strong buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $216.09.

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.