Kennondale Capital Management LLC Makes New $534,000 Investment in Diamondback Energy, Inc. (NASDAQ:FANG)

Kennondale Capital Management LLC bought a new stake in Diamondback Energy, Inc. (NASDAQ:FANG) during the 4th quarter, according to its most recent Form 13F filing with the SEC. The firm bought 3,260 shares of the oil and natural gas company’s stock, valued at approximately $534,000.

Other hedge funds have also recently bought and sold shares of the company. Wintrust Investments LLC bought a new position in Diamondback Energy in the 4th quarter valued at about $28,000. R Squared Ltd bought a new position in Diamondback Energy in the 4th quarter valued at about $29,000. UMB Bank n.a. increased its holdings in Diamondback Energy by 247.3% in 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 buying an additional 136 shares during the period. Key Financial Inc increased its holdings in Diamondback Energy by 940.0% in the 4th quarter. Key Financial Inc now owns 208 shares of the oil and natural gas company’s stock valued at $34,000 after buying an additional 188 shares during the period. Finally, Rakuten Securities Inc. increased its holdings in Diamondback Energy by 62.4% in the 4th quarter. Rakuten Securities Inc. now owns 276 shares of the oil and natural gas company’s stock valued at $45,000 after buying an additional 106 shares during the period. 90.01% of the stock is owned by institutional investors.

Diamondback Energy Stock Up 1.9 %

Shares of NASDAQ FANG opened at $153.03 on Tuesday. The company has a market capitalization of $44.29 billion, a P/E ratio of 8.76, a price-to-earnings-growth 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. 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 company’s 50 day moving average price is $161.67 and its 200-day moving average price is $171.22.

Diamondback Energy (NASDAQ:FANG) last issued its quarterly earnings results on Tuesday, February 25th. The oil and natural gas company reported $3.64 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.57 by $0.07. The firm had revenue of $3.71 billion for 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%. Equities analysts forecast that Diamondback Energy, Inc. will post 15.49 earnings per share for the current year.

Diamondback Energy Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, March 13th. Stockholders of record on Thursday, March 6th were given a $1.00 dividend. The ex-dividend date of this dividend was Thursday, March 6th. This represents a $4.00 dividend on an annualized basis and a dividend yield of 2.61%. This is an increase from Diamondback Energy’s previous quarterly dividend of $0.90. Diamondback Energy’s payout ratio is 25.32%.

Insider Transactions at Diamondback Energy

In related news, Director Frank D. Tsuru bought 2,000 shares of the company’s stock in a transaction that occurred on Friday, February 28th. The shares were bought at an average price of $156.51 per share, for a total transaction of $313,020.00. Following the transaction, 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 ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 0.48% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on FANG shares. Williams Trading set a $190.00 target price on shares of Diamondback Energy in a report on Wednesday, March 5th. Citigroup decreased their price target on shares of Diamondback Energy from $195.00 to $157.00 and set a “neutral” rating on the stock in a report on Monday. Wells Fargo & Company decreased their price target on shares of Diamondback Energy from $219.00 to $215.00 and set an “overweight” rating on the stock in a report on Wednesday, March 12th. Raymond James decreased their price target on shares of Diamondback Energy from $245.00 to $214.00 and set a “strong-buy” rating on the stock in a report on Wednesday, March 12th. Finally, JPMorgan Chase & Co. decreased their price target on shares of Diamondback Energy from $212.00 to $167.00 and set an “overweight” rating on the stock in a report on Thursday, March 13th. Four research analysts have rated the stock with a hold rating, eighteen have given a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $210.33.

About Diamondback Energy

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.