Hartree Partners LP raised its stake in Diamondback Energy Inc (NASDAQ:FANG) by 207.7% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 88,890 shares of the oil and natural gas company’s stock after acquiring an additional 60,000 shares during the quarter. Diamondback Energy comprises 9.1% of Hartree Partners LP’s holdings, making the stock its 2nd largest position. Hartree Partners LP’s holdings in Diamondback Energy were worth $9,025,000 as of its most recent filing with the Securities & Exchange Commission.
Other institutional investors also recently added to or reduced their stakes in the company. Securian Asset Management Inc grew its position in shares of Diamondback Energy by 0.6% during the 1st quarter. Securian Asset Management Inc now owns 16,116 shares of the oil and natural gas company’s stock worth $1,636,000 after purchasing an additional 95 shares in the last quarter. Louisiana State Employees Retirement System grew its position in shares of Diamondback Energy by 1.2% during the 1st quarter. Louisiana State Employees Retirement System now owns 8,200 shares of the oil and natural gas company’s stock worth $833,000 after purchasing an additional 100 shares in the last quarter. LS Investment Advisors LLC grew its position in shares of Diamondback Energy by 2.0% during the 1st quarter. LS Investment Advisors LLC now owns 5,533 shares of the oil and natural gas company’s stock worth $562,000 after purchasing an additional 106 shares in the last quarter. Fruth Investment Management grew its position in shares of Diamondback Energy by 5.2% during the 1st quarter. Fruth Investment Management now owns 2,301 shares of the oil and natural gas company’s stock worth $233,000 after purchasing an additional 114 shares in the last quarter. Finally, Bessemer Group Inc. grew its position in shares of Diamondback Energy by 0.3% during the 4th quarter. Bessemer Group Inc. now owns 36,576 shares of the oil and natural gas company’s stock worth $3,391,000 after purchasing an additional 116 shares in the last quarter.
A number of research analysts have issued reports on the stock. Morgan Stanley set a $147.00 target price on shares of Diamondback Energy and gave the stock a “buy” rating in a research report on Tuesday, January 29th. Williams Capital reiterated a “buy” rating and set a $153.00 price target on shares of Diamondback Energy in a research report on Wednesday, February 20th. ValuEngine upgraded shares of Diamondback Energy from a “sell” rating to a “hold” rating in a research report on Wednesday, March 20th. Zacks Investment Research upgraded shares of Diamondback Energy from a “strong sell” rating to a “hold” rating in a research report on Friday, February 8th. Finally, Barclays started coverage on shares of Diamondback Energy in a research report on Wednesday, January 16th. They set an “overweight” rating and a $189.00 price target on the stock. One equities research analyst has rated the stock with a sell rating, two have given a hold rating, twenty-five have assigned a buy rating and two have assigned a strong buy rating to the company. Diamondback Energy currently has a consensus rating of “Buy” and an average price target of $160.43.
Diamondback Energy stock traded up $0.13 during mid-day trading on Wednesday, reaching $109.24. The company had a trading volume of 9,573 shares, compared to its average volume of 2,043,801. Diamondback Energy Inc has a fifty-two week low of $85.19 and a fifty-two week high of $140.78. The company has a debt-to-equity ratio of 0.32, a current ratio of 0.62 and a quick ratio of 0.60. The firm has a market capitalization of $17.74 billion, a P/E ratio of 18.35, a P/E/G ratio of 0.65 and a beta of 0.80.
Diamondback Energy (NASDAQ:FANG) last issued its earnings results on Tuesday, May 7th. The oil and natural gas company reported $1.39 earnings per share for the quarter, beating analysts’ consensus estimates of $1.36 by $0.03. Diamondback Energy had a net margin of 27.05% and a return on equity of 6.81%. The firm had revenue of $864.00 million for the quarter, compared to analyst estimates of $893.16 million. During the same quarter last year, the business posted $1.64 earnings per share. The company’s quarterly revenue was up 80.4% on a year-over-year basis. On average, analysts expect that Diamondback Energy Inc will post 8.03 earnings per share for the current year.
The business also recently announced a quarterly dividend, which will be paid on Tuesday, June 4th. Shareholders of record on Tuesday, May 28th will be given a $0.188 dividend. The ex-dividend date of this dividend is Friday, May 24th. This represents a $0.75 dividend on an annualized basis and a yield of 0.69%. This is a positive change from Diamondback Energy’s previous quarterly dividend of $0.13. Diamondback Energy’s dividend payout ratio (DPR) is currently 8.52%.
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Diamondback Energy Company Profile
Diamondback Energy, Inc, an independent oil and natural gas company, focuses on the acquisition, development, exploration, and exploitation of unconventional and onshore oil and natural gas reserves in the Permian Basin in West Texas. It primarily 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.
Further Reading: How Important is Technical Analysis of Stocks
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