Wellington Management Group LLP Grows Position in Diamondback Energy, Inc. $FANG

Wellington Management Group LLP boosted its position in Diamondback Energy, Inc. (NASDAQ:FANG) by 27.3% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,950,160 shares of the oil and natural gas company’s stock after acquiring an additional 418,431 shares during the quarter. Wellington Management Group LLP’s holdings in Diamondback Energy were worth $311,792,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Price T Rowe Associates Inc. MD raised its holdings in shares of Diamondback Energy by 11.3% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 9,136,645 shares of the oil and natural gas company’s stock valued at $1,496,859,000 after purchasing an additional 928,429 shares in the last quarter. Boston Partners lifted its holdings in Diamondback Energy by 4.8% during the 1st quarter. Boston Partners now owns 5,418,840 shares of the oil and natural gas company’s stock worth $861,961,000 after buying an additional 249,098 shares during the last quarter. Bank of New York Mellon Corp lifted its holdings in Diamondback Energy by 2.3% during the 1st quarter. Bank of New York Mellon Corp now owns 4,257,247 shares of the oil and natural gas company’s stock worth $680,649,000 after buying an additional 94,177 shares during the last quarter. Demars Financial Group LLC boosted its position in shares of Diamondback Energy by 5.3% during the 1st quarter. Demars Financial Group LLC now owns 4,102,785 shares of the oil and natural gas company’s stock worth $655,953,000 after acquiring an additional 208,200 shares in the last quarter. Finally, Diamond Hill Capital Management Inc. increased its holdings in shares of Diamondback Energy by 4.1% in the 1st quarter. Diamond Hill Capital Management Inc. now owns 2,932,484 shares of the oil and natural gas company’s stock valued at $468,846,000 after acquiring an additional 114,930 shares during the last quarter. Institutional investors and hedge funds own 90.01% of the company’s stock.

Insider Buying and Selling at Diamondback Energy

In related news, Chairman Travis D. Stice sold 20,400 shares of Diamondback Energy stock in a transaction on Thursday, August 7th. The shares were sold at an average price of $142.80, for a total value of $2,913,120.00. Following the transaction, the chairman directly owned 102,145 shares in the company, valued at $14,586,306. This trade represents a 16.65% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. 0.48% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on FANG. Susquehanna decreased their target price on Diamondback Energy from $192.00 to $188.00 and set a “positive” rating for the company in a research note on Wednesday, July 23rd. Scotiabank reissued an “outperform” rating on shares of Diamondback Energy in a report on Friday, July 11th. Wall Street Zen downgraded shares of Diamondback Energy from a “hold” rating to a “sell” rating in a research report on Saturday, August 9th. Barclays dropped their target price on shares of Diamondback Energy from $200.00 to $185.00 and set an “overweight” rating on the stock in a research report on Wednesday, April 23rd. Finally, Evercore ISI assumed coverage on shares of Diamondback Energy in a research report on Tuesday, May 6th. They issued an “outperform” rating and a $165.00 price target for the company. Two research analysts have rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating and one has assigned a Hold rating to the company. According to MarketBeat.com, Diamondback Energy has an average rating of “Buy” and an average target price of $191.59.

Diamondback Energy Price Performance

Shares of NASDAQ:FANG opened at $138.96 on Wednesday. Diamondback Energy, Inc. has a one year low of $114.00 and a one year high of $200.47. The stock has a market capitalization of $40.23 billion, a price-to-earnings ratio of 9.88 and a beta of 1.09. The company has a 50-day simple moving average of $143.47 and a 200-day simple moving average of $144.18. The company has a debt-to-equity ratio of 0.35, a quick ratio of 0.52 and a current ratio of 0.55.

Diamondback Energy (NASDAQ:FANG) last released its quarterly earnings results on Monday, August 4th. The oil and natural gas company reported $2.67 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.72 by ($0.05). The company had revenue of $3.68 billion for the quarter, compared to analysts’ expectations of $3.35 billion. Diamondback Energy had a return on equity of 9.48% and a net margin of 27.25%.The business’s quarterly revenue was up 48.1% compared to the same quarter last year. During the same period in the prior year, the business earned $4.52 EPS. On average, analysts predict that Diamondback Energy, Inc. will post 15.49 EPS for the current year.

Diamondback Energy Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, August 21st. Stockholders of record on Thursday, August 14th will be paid a dividend of $1.00 per share. This represents a $4.00 annualized dividend and a dividend yield of 2.9%. The ex-dividend date is Thursday, August 14th. Diamondback Energy’s dividend payout ratio is 28.43%.

Diamondback Energy Company 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.