Rockefeller Capital Management L.P. Buys 93,957 Shares of Diamondback Energy, Inc. $FANG

Rockefeller Capital Management L.P. boosted its stake in shares of Diamondback Energy, Inc. (NASDAQ:FANG) by 32.8% in the 2nd quarter, HoldingsChannel.com reports. The fund owned 380,054 shares of the oil and natural gas company’s stock after purchasing an additional 93,957 shares during the quarter. Rockefeller Capital Management L.P.’s holdings in Diamondback Energy were worth $52,220,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Nuveen LLC bought a new stake in shares of Diamondback Energy in the 1st quarter worth about $230,039,000. Adage Capital Partners GP L.L.C. bought a new position in Diamondback Energy during the 1st quarter valued at about $77,622,000. Wellington Management Group LLP boosted its position in Diamondback Energy by 27.3% in the first quarter. Wellington Management Group LLP now owns 1,950,160 shares of the oil and natural gas company’s stock valued at $311,792,000 after buying an additional 418,431 shares in the last quarter. Bank of New York Mellon Corp grew its stake in Diamondback Energy by 9.0% during the second quarter. Bank of New York Mellon Corp now owns 4,642,218 shares of the oil and natural gas company’s stock worth $637,841,000 after buying an additional 384,971 shares during the last quarter. Finally, Boston Partners grew its stake in Diamondback Energy by 4.8% during the first 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. 90.01% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of research firms have recently issued reports on FANG. UBS Group lifted their target price on shares of Diamondback Energy from $171.00 to $174.00 and gave the company a “buy” rating in a research note on Tuesday, November 11th. Mizuho dropped their price target on Diamondback Energy from $183.00 to $176.00 and set an “outperform” rating for the company in a report on Monday, September 15th. Melius initiated coverage on Diamondback Energy in a research report on Wednesday, August 20th. They issued a “buy” rating and a $213.00 price objective for the company. Roth Capital set a $162.00 target price on Diamondback Energy and gave the stock a “buy” rating in a report on Tuesday, November 4th. Finally, Wells Fargo & Company lowered their target price on Diamondback Energy from $211.00 to $160.00 and set an “overweight” rating for the company in a research note on Friday, October 17th. Two equities research analysts have rated the stock with a Strong Buy rating, twenty have assigned a Buy rating and one has issued a Hold rating to the company. According to data from MarketBeat.com, Diamondback Energy has a consensus rating of “Buy” and an average target price of $188.55.

Diamondback Energy Price Performance

Shares of FANG opened at $149.20 on Monday. The stock has a market cap of $42.75 billion, a P/E ratio of 10.37 and a beta of 0.99. Diamondback Energy, Inc. has a 1 year low of $114.00 and a 1 year high of $186.07. The stock’s 50-day moving average price is $142.52 and its two-hundred day moving average price is $142.15. The company has a current ratio of 0.62, a quick ratio of 0.60 and a debt-to-equity ratio of 0.35.

Diamondback Energy (NASDAQ:FANG) last announced its quarterly earnings results on Monday, November 3rd. The oil and natural gas company reported $3.08 EPS for the quarter, beating analysts’ consensus estimates of $2.94 by $0.14. Diamondback Energy had a return on equity of 9.57% and a net margin of 27.32%.The company had revenue of $3.92 billion during the quarter, compared to analysts’ expectations of $3.48 billion. During the same period in the prior year, the business posted $3.19 EPS. Diamondback Energy’s revenue was up 48.4% on a year-over-year basis. On average, equities analysts predict that Diamondback Energy, Inc. will post 15.49 earnings per share for the current year.

Diamondback Energy Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, November 20th. Shareholders of record on Thursday, November 13th will be issued a $1.00 dividend. The ex-dividend date is Thursday, November 13th. This represents a $4.00 annualized dividend and a yield of 2.7%. Diamondback Energy’s dividend payout ratio (DPR) is 27.80%.

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.