Csenge Advisory Group Raises Stock Holdings in Diamondback Energy, Inc. (NASDAQ:FANG)

Csenge Advisory Group increased its position in Diamondback Energy, Inc. (NASDAQ:FANGGet Rating) by 229.7% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 7,966 shares of the oil and natural gas company’s stock after acquiring an additional 5,550 shares during the period. Csenge Advisory Group’s holdings in Diamondback Energy were worth $793,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also recently modified their holdings of the company. Dark Forest Capital Management LP purchased a new position in shares of Diamondback Energy during the 3rd quarter valued at about $26,000. Paragon Capital Management Ltd purchased a new position in shares of Diamondback Energy during the 4th quarter valued at about $28,000. Harbor Investment Advisory LLC purchased a new position in shares of Diamondback Energy during the 4th quarter valued at about $35,000. Confluence Wealth Services Inc. purchased a new position in shares of Diamondback Energy during the 4th quarter valued at about $38,000. Finally, FUKOKU MUTUAL LIFE INSURANCE Co purchased a new position in shares of Diamondback Energy during the 4th quarter valued at about $42,000. Institutional investors own 89.97% of the company’s stock.

Shares of Diamondback Energy stock traded down $1.73 on Wednesday, hitting $129.72. 17,770 shares of the company were exchanged, compared to its average volume of 2,461,000. The stock has a market capitalization of $23.02 billion, a price-to-earnings ratio of 8.67, a price-to-earnings-growth ratio of 0.24 and a beta of 2.20. The company has a 50-day moving average price of $134.75 and a 200 day moving average price of $124.31. Diamondback Energy, Inc. has a 1-year low of $65.93 and a 1-year high of $147.99. The company has a quick ratio of 0.69, a current ratio of 0.72 and a debt-to-equity ratio of 0.42.

Diamondback Energy (NASDAQ:FANGGet Rating) last issued its earnings results on Monday, May 2nd. The oil and natural gas company reported $5.20 earnings per share for the quarter, topping the consensus estimate of $4.76 by $0.44. Diamondback Energy had a return on equity of 19.91% and a net margin of 34.17%. During the same quarter in the previous year, the company posted $2.30 EPS. Research analysts forecast that Diamondback Energy, Inc. will post 24.99 EPS for the current year.

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, May 23rd. Investors of record on Thursday, May 12th will be issued a $0.70 dividend. The ex-dividend date of this dividend is Wednesday, May 11th. This is a boost from Diamondback Energy’s previous quarterly dividend of $0.60. This represents a $2.80 dividend on an annualized basis and a yield of 2.16%. Diamondback Energy’s dividend payout ratio is currently 18.46%.

A number of equities analysts have weighed in on the company. Credit Suisse Group lifted their price objective on Diamondback Energy from $138.00 to $140.00 and gave the company an “outperform” rating in a research note on Wednesday, February 23rd. Wells Fargo & Company cut their price target on Diamondback Energy from $204.00 to $200.00 and set an “overweight” rating for the company in a research note on Tuesday. Morgan Stanley lifted their price target on Diamondback Energy from $155.00 to $184.00 and gave the company an “overweight” rating in a research note on Friday, April 22nd. Barclays lifted their price target on Diamondback Energy from $127.00 to $162.00 in a research note on Friday, March 18th. Finally, Raymond James lifted their price target on Diamondback Energy from $195.00 to $200.00 and gave the company a “strong-buy” rating in a research note on Monday, April 25th. Five research analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Buy” and an average target price of $160.37.

In other news, CFO Hof Matthew Kaes Van’t sold 6,000 shares of the company’s stock in a transaction on Monday, April 4th. The stock was sold at an average price of $140.02, for a total transaction of $840,120.00. Following the sale, the chief financial officer now owns 73,334 shares of the company’s stock, valued at $10,268,226.68. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Michael P. Cross sold 4,000 shares of the business’s stock in a transaction on Tuesday, March 1st. The stock was sold at an average price of $139.00, for a total transaction of $556,000.00. The disclosure for this sale can be found here. In the last three months, insiders sold 24,000 shares of company stock worth $3,319,960. 0.43% of the stock is owned by corporate insiders.

Diamondback Energy Profile (Get Rating)

Diamondback Energy, Inc, an independent oil and natural gas company, focuses on the acquisition, development, exploration, and exploitation of unconventional and 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.

Featured Articles

Want to see what other hedge funds are holding FANG? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Diamondback Energy, Inc. (NASDAQ:FANGGet Rating).

Institutional Ownership by Quarter for Diamondback Energy (NASDAQ:FANG)

Receive News & Ratings for Diamondback Energy Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Diamondback Energy and related companies with MarketBeat.com's FREE daily email newsletter.