Systematic Financial Management LP Decreases Stock Holdings in Diamondback Energy, Inc. (NASDAQ:FANG)

Systematic Financial Management LP decreased its holdings in Diamondback Energy, Inc. (NASDAQ:FANG) by 0.7% in the fourth quarter, Holdings Channel.com reports. The institutional investor owned 19,429 shares of the oil and natural gas company’s stock after selling 135 shares during the period. Systematic Financial Management LP’s holdings in Diamondback Energy were worth $3,183,000 as of its most recent filing with the SEC.

Other hedge funds have also bought and sold shares of the company. QRG Capital Management Inc. raised its position in Diamondback Energy by 38.4% in the 4th quarter. QRG Capital Management Inc. now owns 11,675 shares of the oil and natural gas company’s stock worth $1,913,000 after buying an additional 3,238 shares during the last quarter. Swedbank AB raised its position in Diamondback Energy by 28.0% in the 4th quarter. Swedbank AB now owns 198,283 shares of the oil and natural gas company’s stock worth $32,485,000 after buying an additional 43,361 shares during the last quarter. Tokio Marine Asset Management Co. Ltd. raised its position in Diamondback Energy by 631.1% in the 4th quarter. Tokio Marine Asset Management Co. Ltd. now owns 43,148 shares of the oil and natural gas company’s stock worth $7,069,000 after buying an additional 37,246 shares during the last quarter. Tectonic Advisors LLC raised its position in Diamondback Energy by 38.2% in the 4th quarter. Tectonic Advisors LLC now owns 31,467 shares of the oil and natural gas company’s stock worth $5,155,000 after buying an additional 8,704 shares during the last quarter. Finally, Candriam S.C.A. raised its position in Diamondback Energy by 27.4% in the 4th quarter. Candriam S.C.A. now owns 21,040 shares of the oil and natural gas company’s stock worth $3,447,000 after buying an additional 4,529 shares during the last quarter. Hedge funds and other institutional investors own 90.01% of the company’s stock.

Insiders Place Their Bets

In other news, President Hof Matthew Kaes Van’t sold 10,000 shares of the company’s stock in a transaction that occurred on Monday, May 12th. The stock was sold at an average price of $142.69, for a total transaction of $1,426,900.00. Following the sale, the president now directly owns 120,645 shares of the company’s stock, valued at $17,214,835.05. This represents a 7.65% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Frank D. Tsuru acquired 2,000 shares of the firm’s stock in a transaction dated Friday, February 28th. The shares were purchased at an average cost of $156.51 per share, for a total transaction of $313,020.00. Following the completion of the acquisition, the director now directly owns 5,730 shares in the company, valued at approximately $896,802.30. This represents a 53.62% increase in their ownership of the stock. The disclosure for this purchase can be found here. 0.70% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on the company. Williams Trading set a $190.00 price target on Diamondback Energy in a research note on Wednesday, March 5th. Barclays cut their price target on Diamondback Energy from $200.00 to $185.00 and set an “overweight” rating for the company in a research note on Wednesday, April 23rd. Mizuho cut their price target on Diamondback Energy from $186.00 to $179.00 and set an “outperform” rating for the company in a research note on Tuesday, May 13th. Susquehanna cut their price target on Diamondback Energy from $219.00 to $194.00 and set a “positive” rating for the company in a research note on Tuesday, April 22nd. Finally, Raymond James cut their price target on Diamondback Energy from $245.00 to $214.00 and set a “strong-buy” rating for the company in a research note on Wednesday, March 12th. Two analysts have rated the stock with a hold rating, nineteen have assigned a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat, Diamondback Energy currently has an average rating of “Buy” and an average target price of $194.09.

Diamondback Energy Trading Down 0.6%

FANG stock opened at $141.13 on Friday. Diamondback Energy, Inc. has a 1-year low of $114.00 and a 1-year high of $214.50. 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 company has a market capitalization of $41.23 billion, a price-to-earnings ratio of 8.08, a PEG ratio of 1.24 and a beta of 1.06. The business has a 50 day simple moving average of $141.25 and a two-hundred day simple moving average of $158.00.

Diamondback Energy (NASDAQ:FANG) last posted its quarterly earnings results on Monday, May 5th. The oil and natural gas company reported $4.54 earnings per share for the quarter, topping the consensus estimate of $3.67 by $0.87. Diamondback Energy had a return on equity of 13.68% and a net margin of 33.64%. The business had revenue of $4.05 billion during the quarter, compared to the consensus estimate of $3.58 billion. During the same period in the prior year, the company posted $4.50 EPS. The firm’s revenue for the quarter was up 81.8% compared to the same quarter last year. Research analysts anticipate that Diamondback Energy, Inc. will post 15.49 EPS for the current fiscal year.

Diamondback Energy Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, May 22nd. Shareholders of record on Thursday, May 15th will be paid a $1.00 dividend. The ex-dividend date of this dividend is Thursday, May 15th. This represents a $4.00 annualized dividend and a yield of 2.83%. Diamondback Energy’s payout ratio is 24.46%.

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.