12th Street Asset Management Company LLC Has $7.57 Million Stock Holdings in Diamondback Energy, Inc. $FANG

12th Street Asset Management Company LLC trimmed its holdings in shares of Diamondback Energy, Inc. (NASDAQ:FANG) by 51.6% in the fourth quarter, Holdings Channel.com reports. The firm owned 50,361 shares of the oil and natural gas company’s stock after selling 53,755 shares during the quarter. Diamondback Energy makes up 1.2% of 12th Street Asset Management Company LLC’s holdings, making the stock its 22nd largest holding. 12th Street Asset Management Company LLC’s holdings in Diamondback Energy were worth $7,571,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of the stock. Allstate Corp raised its holdings in shares of Diamondback Energy by 98.6% during the fourth quarter. Allstate Corp now owns 13,843 shares of the oil and natural gas company’s stock worth $2,081,000 after acquiring an additional 6,874 shares during the period. Fisher Asset Management LLC boosted its stake in Diamondback Energy by 5.8% in the 4th quarter. Fisher Asset Management LLC now owns 36,391 shares of the oil and natural gas company’s stock worth $5,471,000 after purchasing an additional 1,991 shares during the period. New Age Alpha Advisors LLC boosted its stake in Diamondback Energy by 5.9% in the 4th quarter. New Age Alpha Advisors LLC now owns 9,932 shares of the oil and natural gas company’s stock worth $1,493,000 after purchasing an additional 552 shares during the period. Systematic Financial Management LP increased its holdings in Diamondback Energy by 24.8% during the 4th quarter. Systematic Financial Management LP now owns 24,066 shares of the oil and natural gas company’s stock worth $3,618,000 after purchasing an additional 4,785 shares in the last quarter. Finally, Fideuram Intesa Sanpaolo Private Banking S.P.A. bought a new position in Diamondback Energy during the 4th quarter worth about $150,000. Institutional investors own 90.01% of the company’s stock.

Insider Activity

In related news, Director Steven E. West sold 6,000 shares of the business’s stock in a transaction that occurred on Wednesday, March 18th. The stock was sold at an average price of $188.35, for a total transaction of $1,130,100.00. Following the transaction, the director directly owned 4,484 shares of the company’s stock, valued at approximately $844,561.40. The trade was a 57.23% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Charles Alvin Meloy sold 7,857 shares of the stock in a transaction on Monday, March 9th. The shares were sold at an average price of $183.27, for a total value of $1,439,952.39. Following the completion of the sale, the director owned 974,149 shares in the company, valued at approximately $178,532,287.23. This trade represents a 0.80% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders have sold 174,321 shares of company stock valued at $32,090,475. 0.64% of the stock is owned by insiders.

Analyst Ratings Changes

A number of research firms recently issued reports on FANG. Morgan Stanley increased their price objective on Diamondback Energy from $224.00 to $229.00 and gave the stock an “overweight” rating in a report on Friday. Wells Fargo & Company lifted their price objective on shares of Diamondback Energy from $202.00 to $262.00 and gave the company an “overweight” rating in a report on Monday, April 20th. UBS Group boosted their price objective on shares of Diamondback Energy from $240.00 to $245.00 and gave the stock a “buy” rating in a research report on Friday, April 10th. Scotiabank increased their target price on shares of Diamondback Energy from $175.00 to $195.00 and gave the stock a “sector outperform” rating in a report on Wednesday, April 22nd. Finally, Benchmark downgraded shares of Diamondback Energy from a “buy” rating to a “hold” rating in a research note on Thursday, March 5th. Five analysts have rated the stock with a Strong Buy rating, sixteen have issued a Buy rating and four have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, Diamondback Energy currently has a consensus rating of “Buy” and an average price target of $221.84.

Diamondback Energy Stock Performance

Shares of FANG stock opened at $200.71 on Tuesday. The company has a fifty day moving average price of $194.64 and a two-hundred day moving average price of $170.53. Diamondback Energy, Inc. has a one year low of $133.75 and a one year high of $214.51. The stock has a market cap of $56.46 billion, a P/E ratio of 233.39 and a beta of 0.46. The company has a debt-to-equity ratio of 0.31, a current ratio of 0.56 and a quick ratio of 0.55.

Diamondback Energy (NASDAQ:FANG) last released its quarterly earnings data on Monday, May 4th. The oil and natural gas company reported $4.23 earnings per share for the quarter, topping the consensus estimate of $3.74 by $0.49. The company had revenue of $4.24 billion for the quarter, compared to analyst estimates of $3.83 billion. Diamondback Energy had a net margin of 1.87% and a return on equity of 7.76%. Diamondback Energy’s revenue for the quarter was up 4.7% compared to the same quarter last year. During the same period in the previous year, the business earned $4.54 EPS. As a group, equities analysts predict that Diamondback Energy, Inc. will post 19.49 EPS for the current year.

Diamondback Energy Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, May 21st. Investors of record on Thursday, May 14th were issued a dividend of $1.10 per share. The ex-dividend date was Thursday, May 14th. This is an increase from Diamondback Energy’s previous quarterly dividend of $1.05. This represents a $4.40 dividend on an annualized basis and a yield of 2.2%. Diamondback Energy’s dividend payout ratio is 511.63%.

Diamondback Energy Company Profile

Diamondback Energy, Inc (NASDAQ: FANG) is an independent oil and natural gas company focused on the development, exploration and production of unconventional resources in the Permian Basin. Headquartered in Midland, Texas, the company concentrates its operations in the core Midland and Delaware sub‑basins of West Texas and southeastern New Mexico, where it pursues contiguous acreage positions to support repeatable drilling programs.

Diamondback’s activities span the upstream value chain, including leasehold acquisition, well planning, drilling, completion and production optimization.