Toronto Dominion Bank Increases Stock Position in Diamondback Energy, Inc. (NASDAQ:FANG)

Toronto Dominion Bank raised its stake in Diamondback Energy, Inc. (NASDAQ:FANG) by 3.9% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 66,346 shares of the oil and natural gas company’s stock after acquiring an additional 2,468 shares during the period. Toronto Dominion Bank’s holdings in Diamondback Energy were worth $10,869,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds also recently made changes to their positions in the company. Magnolia Capital Advisors LLC lifted its holdings in shares of Diamondback Energy by 2.0% in the 4th quarter. Magnolia Capital Advisors LLC now owns 3,247 shares of the oil and natural gas company’s stock valued at $532,000 after purchasing an additional 64 shares during the last quarter. Barden Capital Management Inc. increased its position in Diamondback Energy by 1.5% during the fourth quarter. Barden Capital Management Inc. now owns 4,380 shares of the oil and natural gas company’s stock worth $718,000 after buying an additional 64 shares during the period. Greenleaf Trust lifted its stake in Diamondback Energy by 1.0% in the fourth quarter. Greenleaf Trust now owns 6,892 shares of the oil and natural gas company’s stock valued at $1,129,000 after buying an additional 66 shares during the last quarter. Buckhead Capital Management LLC lifted its stake in Diamondback Energy by 0.3% in the fourth quarter. Buckhead Capital Management LLC now owns 19,830 shares of the oil and natural gas company’s stock valued at $3,249,000 after buying an additional 67 shares during the last quarter. Finally, Center For Asset Management LLC boosted its holdings in shares of Diamondback Energy by 3.6% in the fourth quarter. Center For Asset Management LLC now owns 1,976 shares of the oil and natural gas company’s stock valued at $324,000 after acquiring an additional 68 shares during the period. Hedge funds and other institutional investors own 90.01% of the company’s stock.

Insiders Place Their Bets

In other Diamondback Energy news, President Hof Matthew Kaes Van’t sold 10,000 shares of Diamondback Energy stock in a transaction on Monday, May 12th. The shares were sold at an average price of $142.69, for a total value of $1,426,900.00. Following the transaction, the president now owns 120,645 shares in the company, valued at $17,214,835.05. This trade represents a 7.65% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Frank D. Tsuru bought 2,000 shares of Diamondback Energy stock in a transaction that occurred on Friday, February 28th. The stock was purchased at an average price of $156.51 per share, for a total transaction of $313,020.00. Following the acquisition, the director now directly owns 5,730 shares of the company’s stock, valued at $896,802.30. The trade was a 53.62% increase in their position. The disclosure for this purchase can be found here. 0.48% of the stock is owned by corporate insiders.

Diamondback Energy Stock Down 0.7%

Shares of NASDAQ FANG opened at $138.35 on Wednesday. The firm has a market cap of $40.42 billion, a P/E ratio of 7.92, a price-to-earnings-growth ratio of 1.24 and a beta of 1.06. The company has a debt-to-equity ratio of 0.31, a quick ratio of 0.42 and a current ratio of 0.45. Diamondback Energy, Inc. has a 1 year low of $114.00 and a 1 year high of $214.50. The firm’s 50 day moving average price is $140.95 and its 200 day moving average price is $157.48.

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

Diamondback Energy Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, May 22nd. Investors of record on Thursday, May 15th will be given a dividend of $1.00 per share. The ex-dividend date is Thursday, May 15th. This represents a $4.00 annualized dividend and a yield of 2.89%. Diamondback Energy’s dividend payout ratio (DPR) is presently 24.46%.

Analysts Set New Price Targets

A number of equities analysts have recently commented on FANG shares. JPMorgan Chase & Co. cut their target price on shares of Diamondback Energy from $167.00 to $161.00 and set an “overweight” rating on the stock in a report on Wednesday, May 7th. Bank of America raised shares of Diamondback Energy from a “neutral” rating to a “buy” rating and lowered their price objective for the stock from $202.00 to $170.00 in a research report on Tuesday, April 29th. Raymond James dropped their price objective on shares of Diamondback Energy from $245.00 to $214.00 and set a “strong-buy” rating on the stock in a research note on Wednesday, March 12th. Citigroup upgraded shares of Diamondback Energy from a “reduce” rating to a “buy” rating and increased their target price for the stock from $157.00 to $180.00 in a research note on Monday, April 7th. Finally, Mizuho lowered their price target on Diamondback Energy from $186.00 to $179.00 and set an “outperform” rating on the stock in a report on Tuesday, May 13th. Two research analysts have rated the stock with a hold rating, nineteen have issued a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Buy” and an average price target of $194.09.

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.