Bryn Mawr Capital Management LLC Takes $295,000 Position in Diamondback Energy, Inc. (NASDAQ:FANG)

Bryn Mawr Capital Management LLC acquired a new stake in Diamondback Energy, Inc. (NASDAQ:FANG) in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 1,900 shares of the oil and natural gas company’s stock, valued at approximately $295,000.

Several other institutional investors and hedge funds have also made changes to their positions in the stock. Massachusetts Financial Services Co. MA lifted its stake in Diamondback Energy by 39.9% during the third quarter. Massachusetts Financial Services Co. MA now owns 3,007,599 shares of the oil and natural gas company’s stock valued at $465,817,000 after purchasing an additional 858,446 shares during the last quarter. Diamond Hill Capital Management Inc. acquired a new stake in Diamondback Energy during the third quarter valued at approximately $128,720,000. Wellington Management Group LLP lifted its position in shares of Diamondback Energy by 4.8% in the 3rd quarter. Wellington Management Group LLP now owns 14,266,640 shares of the oil and natural gas company’s stock valued at $2,209,617,000 after acquiring an additional 648,317 shares in the last quarter. Raymond James & Associates lifted its position in shares of Diamondback Energy by 143.0% in the 4th quarter. Raymond James & Associates now owns 981,284 shares of the oil and natural gas company’s stock valued at $152,177,000 after acquiring an additional 577,514 shares in the last quarter. Finally, Raymond James Financial Services Advisors Inc. lifted its position in shares of Diamondback Energy by 286.1% in the 4th quarter. Raymond James Financial Services Advisors Inc. now owns 595,694 shares of the oil and natural gas company’s stock valued at $92,380,000 after acquiring an additional 441,411 shares in the last quarter. 90.01% of the stock is currently owned by institutional investors.

Diamondback Energy Stock Up 0.3 %

Shares of NASDAQ:FANG opened at $207.76 on Friday. Diamondback Energy, Inc. has a one year low of $123.41 and a one year high of $211.96. The company has a 50 day moving average of $193.25 and a 200-day moving average of $169.58. The company has a debt-to-equity ratio of 0.38, a current ratio of 0.77 and a quick ratio of 0.74. The stock has a market cap of $37.05 billion, a price-to-earnings ratio of 11.98 and a beta of 1.93.

Diamondback Energy (NASDAQ:FANG) last issued its quarterly earnings data on Tuesday, February 20th. The oil and natural gas company reported $4.74 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $4.61 by $0.13. The firm had revenue of $2.23 billion during the quarter, compared to analysts’ expectations of $2.16 billion. Diamondback Energy had a net margin of 37.36% and a return on equity of 19.56%. The business’s revenue for the quarter was up 9.8% on a year-over-year basis. During the same quarter in the previous year, the company earned $5.29 earnings per share. On average, sell-side analysts forecast that Diamondback Energy, Inc. will post 18.83 earnings per share for the current year.

Diamondback Energy Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, March 12th. Investors of record on Tuesday, March 5th were issued a dividend of $3.08 per share. The ex-dividend date of this dividend was Monday, March 4th. This represents a $12.32 dividend on an annualized basis and a yield of 5.93%. This is a boost from Diamondback Energy’s previous quarterly dividend of $0.84. Diamondback Energy’s payout ratio is currently 20.76%.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on FANG shares. Raymond James reduced their price target on shares of Diamondback Energy from $190.00 to $185.00 and set a “strong-buy” rating for the company in a research report on Wednesday, January 24th. KeyCorp increased their target price on shares of Diamondback Energy from $210.00 to $225.00 and gave the stock an “overweight” rating in a research report on Monday, April 22nd. Susquehanna increased their target price on shares of Diamondback Energy from $212.00 to $245.00 and gave the stock a “positive” rating in a research report on Monday, April 22nd. Scotiabank increased their target price on shares of Diamondback Energy from $210.00 to $255.00 and gave the stock a “sector outperform” rating in a research report on Thursday, April 11th. Finally, Bank Of America (Bofa) cut their target price on shares of Diamondback Energy from $147.00 to $129.00 and set an “underperform” rating for the company in a research report on Thursday, January 18th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating, thirteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $202.53.

Insider Activity at Diamondback Energy

In other Diamondback Energy news, CAO Teresa L. Dick sold 2,000 shares of Diamondback Energy stock in a transaction that occurred on Wednesday, March 20th. The shares were sold at an average price of $192.00, for a total value of $384,000.00. Following the transaction, the chief accounting officer now owns 96,523 shares of the company’s stock, valued at $18,532,416. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In other Diamondback Energy news, CAO Teresa L. Dick sold 2,000 shares of Diamondback Energy stock in a transaction that occurred on Wednesday, March 20th. The shares were sold at an average price of $192.00, for a total value of $384,000.00. Following the transaction, the chief accounting officer now owns 96,523 shares of the company’s stock, valued at $18,532,416. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Travis D. Stice sold 30,000 shares of Diamondback Energy stock in a transaction that occurred on Tuesday, April 2nd. The shares were sold at an average price of $200.00, for a total transaction of $6,000,000.00. Following the completion of the transaction, the chief executive officer now directly owns 446,610 shares in the company, valued at approximately $89,322,000. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 57,675 shares of company stock worth $11,311,096. 0.43% of the stock is currently owned by company insiders.

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.