Copeland Capital Management LLC Sells 4,450 Shares of Diamondback Energy, Inc. (NASDAQ:FANG)

Copeland Capital Management LLC lowered its position in shares of Diamondback Energy, Inc. (NASDAQ:FANG) by 4.2% in the third quarter, HoldingsChannel reports. The firm owned 102,718 shares of the oil and natural gas company’s stock after selling 4,450 shares during the period. Copeland Capital Management LLC’s holdings in Diamondback Energy were worth $17,709,000 at the end of the most recent reporting period.

Several other institutional investors have also recently added to or reduced their stakes in the company. First Community Trust NA acquired a new stake in shares of Diamondback Energy during the second quarter worth approximately $26,000. Carolinas Wealth Consulting LLC raised its position in Diamondback Energy by 67.1% in the 2nd quarter. Carolinas Wealth Consulting LLC now owns 137 shares of the oil and natural gas company’s stock valued at $27,000 after purchasing an additional 55 shares during the last quarter. HHM Wealth Advisors LLC acquired a new position in Diamondback Energy in the second quarter worth $40,000. Founders Capital Management grew its holdings in shares of Diamondback Energy by 99.2% during the second quarter. Founders Capital Management now owns 251 shares of the oil and natural gas company’s stock worth $50,000 after purchasing an additional 125 shares during the last quarter. Finally, CVA Family Office LLC increased its stake in shares of Diamondback Energy by 28.1% in the third quarter. CVA Family Office LLC now owns 296 shares of the oil and natural gas company’s stock valued at $51,000 after buying an additional 65 shares in the last quarter. 90.01% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of equities research analysts have commented on FANG shares. Susquehanna decreased their price objective on shares of Diamondback Energy from $237.00 to $233.00 and set a “positive” rating on the stock in a report on Friday. Morgan Stanley increased their price objective on Diamondback Energy from $185.00 to $198.00 and gave the company an “overweight” rating in a research report on Monday, September 16th. StockNews.com downgraded Diamondback Energy from a “buy” rating to a “hold” rating in a research report on Saturday, July 6th. Royal Bank of Canada reiterated an “outperform” rating and issued a $220.00 price target on shares of Diamondback Energy in a report on Tuesday, September 17th. Finally, Johnson Rice cut Diamondback Energy from a “strong-buy” rating to a “moderate buy” rating in a report on Tuesday, September 24th. One research analyst has rated the stock with a sell rating, five have issued a hold rating, seventeen have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $210.09.

Insider Buying and Selling at Diamondback Energy

In related news, major shareholder Lyndal Greth sold 13,212,830 shares of the stock in a transaction dated Monday, September 23rd. The stock was sold at an average price of $175.11, for a total transaction of $2,313,698,661.30. Following the completion of the transaction, the insider now directly owns 1,037,819 shares in the company, valued at approximately $181,732,485.09. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 0.48% of the company’s stock.

Diamondback Energy Trading Down 0.9 %

NASDAQ:FANG opened at $182.41 on Tuesday. The company has a debt-to-equity ratio of 0.65, a current ratio of 3.66 and a quick ratio of 3.64. The business’s 50-day simple moving average is $185.97 and its 200-day simple moving average is $194.58. Diamondback Energy, Inc. has a fifty-two week low of $145.70 and a fifty-two week high of $214.50. The stock has a market capitalization of $32.53 billion, a PE ratio of 10.28, a price-to-earnings-growth ratio of 1.22 and a beta of 1.89.

Diamondback Energy (NASDAQ:FANG) last announced its quarterly earnings results on Monday, August 5th. The oil and natural gas company reported $4.52 earnings per share for the quarter, beating analysts’ consensus estimates of $4.51 by $0.01. Diamondback Energy had a net margin of 37.51% and a return on equity of 19.54%. The firm had revenue of $2.48 billion for the quarter, compared to analyst estimates of $2.19 billion. During the same quarter in the previous year, the firm posted $3.68 earnings per share. The business’s revenue was up 29.4% on a year-over-year basis. Sell-side analysts expect that Diamondback Energy, Inc. will post 19.08 earnings per share for the current fiscal year.

Diamondback Energy Increases Dividend

The company also recently announced a None dividend, which was paid on Thursday, August 22nd. Shareholders of record on Thursday, August 15th were issued a dividend of $2.34 per share. This represents a yield of 1.9%. The ex-dividend date was Thursday, August 15th. This is a boost from Diamondback Energy’s previous None dividend of $2.26. Diamondback Energy’s dividend payout ratio is 20.29%.

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.