SCP Investment LP Increases Position in Diamondback Energy, Inc. (NASDAQ:FANG)

SCP Investment LP increased its position in Diamondback Energy, Inc. (NASDAQ:FANG) by 47.7% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 6,808 shares of the oil and natural gas company’s stock after acquiring an additional 2,200 shares during the period. Diamondback Energy makes up about 0.9% of SCP Investment LP’s portfolio, making the stock its 16th biggest holding. SCP Investment LP’s holdings in Diamondback Energy were worth $1,115,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Wintrust Investments LLC acquired a new stake in shares of Diamondback Energy during the fourth quarter worth about $28,000. R Squared Ltd acquired a new stake in Diamondback Energy during the 4th quarter valued at approximately $29,000. UMB Bank n.a. lifted its stake in Diamondback Energy by 247.3% during the 4th quarter. UMB Bank n.a. now owns 191 shares of the oil and natural gas company’s stock valued at $31,000 after acquiring an additional 136 shares during the period. Key Financial Inc increased its stake in shares of Diamondback Energy by 940.0% in the fourth quarter. Key Financial Inc now owns 208 shares of the oil and natural gas company’s stock worth $34,000 after acquiring an additional 188 shares during the period. Finally, Rakuten Securities Inc. increased its stake in shares of Diamondback Energy by 62.4% in the fourth quarter. Rakuten Securities Inc. now owns 276 shares of the oil and natural gas company’s stock worth $45,000 after acquiring an additional 106 shares during the period. Institutional investors and hedge funds own 90.01% of the company’s stock.

Insider Buying and Selling at Diamondback Energy

In related news, Director Frank D. Tsuru acquired 2,000 shares of the firm’s stock in a transaction on Friday, February 28th. The stock was bought at an average price of $156.51 per share, for a total transaction of $313,020.00. Following the completion of the purchase, the director now directly owns 5,730 shares of the company’s stock, valued at approximately $896,802.30. The trade was a 53.62 % increase in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Insiders own 0.48% of the company’s stock.

Diamondback Energy Stock Down 1.7 %

NASDAQ FANG opened at $157.54 on Friday. The business’s fifty day simple moving average is $158.66 and its 200-day simple moving average is $169.72. The company has a quick ratio of 0.42, a current ratio of 0.45 and a debt-to-equity ratio of 0.31. The firm has a market cap of $45.60 billion, a PE ratio of 9.02, a P/E/G ratio of 1.24 and a beta of 1.85. Diamondback Energy, Inc. has a 52 week low of $137.09 and a 52 week high of $214.50.

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

Diamondback Energy Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, March 13th. Investors of record on Thursday, March 6th were paid a dividend of $1.00 per share. This represents a $4.00 dividend on an annualized basis and a dividend yield of 2.54%. This is a positive change from Diamondback Energy’s previous quarterly dividend of $0.90. The ex-dividend date of this dividend was Thursday, March 6th. Diamondback Energy’s dividend payout ratio is presently 25.32%.

Analyst Ratings Changes

FANG has been the topic of several recent research reports. 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 report on Friday, January 3rd. Citigroup lowered their target price on Diamondback Energy from $195.00 to $157.00 and set a “neutral” rating on the stock in a research note on Monday, March 17th. JPMorgan Chase & Co. reduced their price target on Diamondback Energy from $212.00 to $167.00 and set an “overweight” rating for the company in a research report on Thursday, March 13th. Williams Trading set a $190.00 price objective on Diamondback Energy in a research report on Wednesday, March 5th. Finally, The Goldman Sachs Group began coverage on shares of Diamondback Energy in a report on Monday, December 2nd. They set a “buy” rating and a $227.00 target price for the company. Four analysts have rated the stock with a hold rating, eighteen have assigned a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $209.33.

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.