200,936 Shares in Diamondback Energy, Inc. $FANG Acquired by Brandywine Global Investment Management LLC

Brandywine Global Investment Management LLC acquired a new position in Diamondback Energy, Inc. (NASDAQ:FANG) in the fourth quarter, HoldingsChannel.com reports. The firm acquired 200,936 shares of the oil and natural gas company’s stock, valued at approximately $30,207,000.

A number of other hedge funds also recently added to or reduced their stakes in the company. O Shaughnessy Asset Management LLC raised its holdings in Diamondback Energy by 1.0% in the 4th quarter. O Shaughnessy Asset Management LLC now owns 18,602 shares of the oil and natural gas company’s stock worth $2,796,000 after acquiring an additional 191 shares during the last quarter. Manchester Capital Management LLC raised its holdings in Diamondback Energy by 45.6% in the 4th quarter. Manchester Capital Management LLC now owns 415 shares of the oil and natural gas company’s stock worth $62,000 after acquiring an additional 130 shares during the last quarter. Hilton Head Capital Partners LLC purchased a new position in Diamondback Energy in the 4th quarter worth approximately $34,000. Syon Capital LLC raised its holdings in Diamondback Energy by 8.3% in the 4th quarter. Syon Capital LLC now owns 2,290 shares of the oil and natural gas company’s stock worth $344,000 after acquiring an additional 175 shares during the last quarter. Finally, ING Groep NV raised its holdings in Diamondback Energy by 1,980.6% in the 4th quarter. ING Groep NV now owns 39,614 shares of the oil and natural gas company’s stock worth $5,955,000 after acquiring an additional 37,710 shares during the last quarter. 90.01% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other news, CAO Teresa L. Dick sold 7,000 shares of the business’s stock in a transaction on Tuesday, June 2nd. The shares were sold at an average price of $200.90, for a total transaction of $1,406,300.00. Following the completion of the sale, the chief accounting officer owned 85,755 shares of the company’s stock, valued at $17,228,179.50. The trade was a 7.55% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CFO Jere W. Thompson III sold 750 shares of the business’s stock in a transaction on Monday, March 16th. The shares were sold at an average price of $182.47, for a total transaction of $136,852.50. Following the sale, the chief financial officer directly owned 19,975 shares of the company’s stock, valued at approximately $3,644,838.25. The trade was a 3.62% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders have sold 78,464 shares of company stock worth $14,946,406. Company insiders own 0.64% of the company’s stock.

Diamondback Energy Trading Up 2.9%

Shares of FANG stock opened at $198.20 on Tuesday. Diamondback Energy, Inc. has a 1 year low of $134.30 and a 1 year high of $214.51. The firm has a fifty day moving average price of $195.99 and a 200-day moving average price of $174.25. The company has a debt-to-equity ratio of 0.31, a current ratio of 0.56 and a quick ratio of 0.55. The company has a market cap of $55.76 billion, a price-to-earnings ratio of 230.47 and a beta of 0.42.

Diamondback Energy (NASDAQ:FANG) last issued its quarterly earnings data on Monday, May 4th. The oil and natural gas company reported $4.23 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.74 by $0.49. Diamondback Energy had a net margin of 1.87% and a return on equity of 7.76%. The firm had revenue of $4.24 billion during the quarter, compared to the consensus estimate of $3.83 billion. During the same quarter in the previous year, the firm posted $4.54 EPS. The company’s revenue for the quarter was up 4.7% compared to the same quarter last year. As a group, equities analysts predict that Diamondback Energy, Inc. will post 19.65 earnings per share for the current year.

Diamondback Energy Increases Dividend

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

Analysts Set New Price Targets

A number of research firms have commented on FANG. The Goldman Sachs Group lifted their target price on shares of Diamondback Energy from $187.00 to $212.00 and gave the stock a “buy” rating in a research report on Wednesday, March 11th. Citigroup lifted their target price on shares of Diamondback Energy from $225.00 to $245.00 and gave the stock a “buy” rating in a research report on Wednesday, May 20th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Diamondback Energy in a research report on Wednesday, May 27th. Barclays lifted their target price on shares of Diamondback Energy from $225.00 to $232.00 and gave the stock an “overweight” rating in a research report on Tuesday, May 26th. Finally, Wells Fargo & Company lifted their target price on shares of Diamondback Energy from $202.00 to $262.00 and gave the stock an “overweight” rating in a research report on Monday, April 20th. Four equities research analysts have rated the stock with a Strong Buy rating, sixteen have given a Buy rating and five have given a Hold rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $223.26.

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.