Diamondback Energy, Inc. (NASDAQ:FANG) Shares Purchased by Toronto Dominion Bank

Toronto Dominion Bank increased its position in shares of Diamondback Energy, Inc. (NASDAQ:FANG) by 3.9% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 66,346 shares of the oil and natural gas company’s stock after purchasing an additional 2,468 shares during the period. Toronto Dominion Bank’s holdings in Diamondback Energy were worth $10,869,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Wintrust Investments LLC purchased a new stake in shares of Diamondback Energy in the 4th quarter valued at approximately $28,000. R Squared Ltd acquired a new position in Diamondback Energy in the fourth quarter valued at approximately $29,000. UMB Bank n.a. lifted its holdings in Diamondback Energy by 247.3% in the fourth quarter. UMB Bank n.a. now owns 191 shares of the oil and natural gas company’s stock valued at $31,000 after acquiring an additional 136 shares during the last quarter. Key Financial Inc grew 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 worth $34,000 after acquiring an additional 188 shares during the period. Finally, Transce3nd LLC acquired a new stake in Diamondback Energy during the fourth quarter worth $38,000. 90.01% of the stock is currently owned by institutional investors and hedge funds.

Diamondback Energy Price Performance

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

Diamondback Energy (NASDAQ:FANG) last released its 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 net margin of 33.64% and a return on equity of 13.68%. The firm had revenue of $4.05 billion for the quarter, compared to analyst estimates of $3.58 billion. During the same period in the prior year, the firm earned $4.50 earnings per share. The business’s quarterly revenue was up 81.8% compared to the same quarter last year. Analysts anticipate that Diamondback Energy, Inc. will post 15.49 earnings per share for the current fiscal year.

Diamondback Energy Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, May 22nd. Shareholders of record on Thursday, May 15th will be given a $1.00 dividend. This represents a $4.00 dividend on an annualized basis and a dividend yield of 2.89%. The ex-dividend date is Thursday, May 15th. Diamondback Energy’s dividend payout ratio is presently 24.46%.

Insider Activity

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

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on the company. Morgan Stanley reaffirmed an “overweight” rating on shares of Diamondback Energy in a research note on Tuesday, April 15th. Scotiabank reduced their price objective on shares of Diamondback Energy from $215.00 to $175.00 and set a “sector outperform” rating on the stock in a report on Friday, April 11th. Royal Bank of Canada initiated coverage on shares of Diamondback Energy in a research report on Friday, May 2nd. They issued an “outperform” rating and a $180.00 target price on the stock. Barclays dropped their price target on shares of Diamondback Energy from $200.00 to $185.00 and set an “overweight” rating for the company in a research report on Wednesday, April 23rd. Finally, Wells Fargo & Company reduced their price target on shares of Diamondback Energy from $215.00 to $207.00 and set an “overweight” rating on the stock in a research note on Monday, April 21st. Two investment analysts have rated the stock with a hold rating, nineteen have given a buy rating and two have given a strong buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Buy” and an average target price of $194.09.

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.