Tocqueville Asset Management L.P. Has $38.81 Million Position in Diamondback Energy, Inc. (NASDAQ:FANG)

Tocqueville Asset Management L.P. increased its position in shares of Diamondback Energy, Inc. (NASDAQ:FANG) by 4.2% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 236,912 shares of the oil and natural gas company’s stock after acquiring an additional 9,500 shares during the period. Tocqueville Asset Management L.P. owned about 0.08% of Diamondback Energy worth $38,813,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also added to or reduced their stakes in FANG. Wintrust Investments LLC acquired a new position in Diamondback Energy during the fourth quarter worth about $28,000. R Squared Ltd acquired a new position in Diamondback Energy during the 4th quarter worth approximately $29,000. UMB Bank n.a. lifted its stake in Diamondback Energy by 247.3% in the 4th quarter. UMB Bank n.a. now owns 191 shares of the oil and natural gas company’s stock valued at $31,000 after purchasing an additional 136 shares during the last quarter. Key Financial Inc boosted its position in Diamondback Energy by 940.0% in the fourth quarter. Key Financial Inc now owns 208 shares of the oil and natural gas company’s stock valued at $34,000 after buying an additional 188 shares in the last quarter. Finally, Rakuten Securities Inc. grew its stake in shares of Diamondback Energy by 62.4% during the fourth quarter. Rakuten Securities Inc. now owns 276 shares of the oil and natural gas company’s stock worth $45,000 after buying an additional 106 shares during the last quarter. 90.01% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on FANG. Wolfe Research raised Diamondback Energy from a “peer perform” rating to an “outperform” rating and set a $190.00 price target on the stock in a research note on Friday, January 3rd. Williams Trading set a $190.00 price target on shares of Diamondback Energy in a research report on Wednesday, March 5th. JPMorgan Chase & Co. cut their price target on shares of Diamondback Energy from $212.00 to $167.00 and set an “overweight” rating on the stock in a report on Thursday, March 13th. Raymond James decreased their price objective on Diamondback Energy from $245.00 to $214.00 and set a “strong-buy” rating for the company in a report on Wednesday, March 12th. Finally, Mizuho lifted their target price on Diamondback Energy from $201.00 to $204.00 and gave the stock an “outperform” rating in a report on Tuesday, February 25th. Four equities research analysts have rated the stock with a hold rating, eighteen have given a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat, Diamondback Energy has a consensus rating of “Moderate Buy” and a consensus price target of $210.33.

Insider Buying and Selling at Diamondback Energy

In other Diamondback Energy news, Director Frank D. Tsuru bought 2,000 shares of the stock in a transaction that occurred on Friday, February 28th. The shares were bought 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 approximately $896,802.30. The trade was a 53.62 % increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 0.48% of the company’s stock.

Diamondback Energy Stock Performance

Shares of FANG opened at $153.03 on Tuesday. Diamondback Energy, Inc. has a one year low of $137.09 and a one year high of $214.50. The company has a market cap of $44.29 billion, a PE ratio of 8.76, a P/E/G ratio of 1.24 and a beta of 1.85. The stock has a 50-day moving average of $161.67 and a 200-day moving average of $171.22. The company has a debt-to-equity ratio of 0.31, a current ratio of 0.45 and a quick ratio of 0.42.

Diamondback Energy (NASDAQ:FANG) last announced its quarterly earnings data on Tuesday, February 25th. The oil and natural gas company reported $3.64 EPS for the quarter, beating analysts’ consensus estimates of $3.57 by $0.07. Diamondback Energy had a return on equity of 13.68% and a net margin of 33.64%. The firm had revenue of $3.71 billion during the quarter, compared to analysts’ expectations of $3.55 billion. On average, equities research analysts predict that Diamondback Energy, Inc. will post 15.49 EPS for the current fiscal year.

Diamondback Energy Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, March 13th. Shareholders of record on Thursday, March 6th were issued a dividend of $1.00 per share. This is an increase from Diamondback Energy’s previous quarterly dividend of $0.90. The ex-dividend date of this dividend was Thursday, March 6th. This represents a $4.00 annualized dividend and a yield of 2.61%. Diamondback Energy’s dividend payout ratio is presently 25.32%.

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.