Marietta Investment Partners LLC Has $7.43 Million Stake in Diamondback Energy, Inc. (NASDAQ:FANG)

Marietta Investment Partners LLC trimmed its stake in shares of Diamondback Energy, Inc. (NASDAQ:FANG) by 0.6% during the fourth quarter, Holdings Channel.com reports. The firm owned 45,320 shares of the oil and natural gas company’s stock after selling 271 shares during the period. Diamondback Energy accounts for approximately 1.6% of Marietta Investment Partners LLC’s holdings, making the stock its 17th largest position. Marietta Investment Partners LLC’s holdings in Diamondback Energy were worth $7,425,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. QRG Capital Management Inc. lifted its position in shares of Diamondback Energy by 38.4% during the fourth quarter. QRG Capital Management Inc. now owns 11,675 shares of the oil and natural gas company’s stock worth $1,913,000 after purchasing an additional 3,238 shares in the last quarter. Swedbank AB lifted its holdings in Diamondback Energy by 28.0% in the fourth quarter. Swedbank AB now owns 198,283 shares of the oil and natural gas company’s stock valued at $32,485,000 after buying an additional 43,361 shares during the period. Tokio Marine Asset Management Co. Ltd. lifted its holdings in Diamondback Energy by 631.1% in the fourth quarter. Tokio Marine Asset Management Co. Ltd. now owns 43,148 shares of the oil and natural gas company’s stock valued at $7,069,000 after buying an additional 37,246 shares during the period. Franklin Resources Inc. lifted its holdings in Diamondback Energy by 48.5% in the third quarter. Franklin Resources Inc. now owns 146,870 shares of the oil and natural gas company’s stock valued at $28,008,000 after buying an additional 47,951 shares during the period. Finally, Tectonic Advisors LLC lifted its holdings in Diamondback Energy by 38.2% in the fourth quarter. Tectonic Advisors LLC now owns 31,467 shares of the oil and natural gas company’s stock valued at $5,155,000 after buying an additional 8,704 shares during the period. 90.01% of the stock is currently owned by institutional investors and hedge funds.

Diamondback Energy Trading Up 0.0 %

Shares of NASDAQ:FANG opened at $158.50 on Friday. The company has a market capitalization of $45.88 billion, a P/E ratio of 9.07, a P/E/G ratio of 1.24 and a beta of 1.85. The company has a debt-to-equity ratio of 0.31, a current ratio of 0.45 and a quick ratio of 0.42. The business’s 50 day simple moving average is $160.47 and its 200 day simple moving average is $170.51. Diamondback Energy, Inc. has a 1 year low of $137.09 and a 1 year high of $214.50.

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

Diamondback Energy Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, March 13th. Shareholders of record on Thursday, March 6th were given a dividend of $1.00 per share. This is an increase from Diamondback Energy’s previous quarterly dividend of $0.90. This represents a $4.00 annualized dividend and a yield of 2.52%. The ex-dividend date was Thursday, March 6th. Diamondback Energy’s payout ratio is currently 25.32%.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on FANG shares. Citigroup cut their price objective on shares of Diamondback Energy from $195.00 to $157.00 and set a “neutral” rating on the stock in a report on Monday, March 17th. Royal Bank of Canada reiterated an “outperform” rating and issued a $210.00 target price on shares of Diamondback Energy in a report on Thursday, January 23rd. Wolfe Research raised shares of Diamondback Energy from a “peer perform” rating to an “outperform” rating and set a $190.00 price objective for the company in a research report on Friday, January 3rd. Wells Fargo & Company lowered their price objective on shares of Diamondback Energy from $219.00 to $215.00 and set an “overweight” rating for the company in a research report on Wednesday, March 12th. Finally, Mizuho increased their price objective on shares of Diamondback Energy from $201.00 to $204.00 and gave the stock an “outperform” rating in a research report on Tuesday, February 25th. Four equities 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 stock. According to MarketBeat, Diamondback Energy has an average rating of “Moderate Buy” and an average price target of $209.92.

Insiders Place Their Bets

In other Diamondback Energy news, Director Frank D. Tsuru acquired 2,000 shares of the company’s stock in a transaction that occurred on Friday, February 28th. The stock was acquired at an average cost of $156.51 per share, for a total transaction of $313,020.00. Following the transaction, the director now directly owns 5,730 shares in the company, valued at $896,802.30. This represents a 53.62 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which is available through this link. Corporate insiders own 0.48% of the company’s stock.

Diamondback Energy 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.