Copeland Capital Management LLC Has $14.54 Million Holdings in Diamondback Energy, Inc. (NASDAQ:FANG)

Copeland Capital Management LLC lessened its stake in Diamondback Energy, Inc. (NASDAQ:FANG) by 13.6% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 88,743 shares of the oil and natural gas company’s stock after selling 13,975 shares during the quarter. Copeland Capital Management LLC’s holdings in Diamondback Energy were worth $14,539,000 as of its most recent SEC filing.

Other large investors also recently made changes to their positions in the company. Spire Wealth Management bought a new stake in Diamondback Energy in the 4th quarter valued at $519,000. Comprehensive Financial Consultants Institutional Inc. increased its position in Diamondback Energy by 5.6% during the 4th quarter. Comprehensive Financial Consultants Institutional Inc. now owns 12,404 shares of the oil and natural gas company’s stock worth $2,032,000 after buying an additional 658 shares during the period. Tokio Marine Asset Management Co. Ltd. increased its position in Diamondback Energy by 631.1% during the 4th quarter. Tokio Marine Asset Management Co. Ltd. now owns 43,148 shares of the oil and natural gas company’s stock worth $7,069,000 after buying an additional 37,246 shares during the period. Independence Bank of Kentucky increased its position in Diamondback Energy by 15.0% during the 4th quarter. Independence Bank of Kentucky now owns 4,261 shares of the oil and natural gas company’s stock worth $698,000 after buying an additional 556 shares during the period. Finally, China Universal Asset Management Co. Ltd. increased its position in Diamondback Energy by 110.0% during the 4th quarter. China Universal Asset Management Co. Ltd. now owns 4,752 shares of the oil and natural gas company’s stock worth $779,000 after buying an additional 2,489 shares during the period. Institutional investors and hedge funds own 90.01% of the company’s stock.

Diamondback Energy Stock Down 3.6 %

Diamondback Energy stock opened at $164.36 on Friday. Diamondback Energy, Inc. has a fifty-two week low of $147.93 and a fifty-two week high of $214.50. The stock has a market cap of $47.99 billion, a PE ratio of 9.41, a price-to-earnings-growth ratio of 1.33 and a beta of 1.88. The firm’s 50-day simple moving average is $168.98 and its 200 day simple moving average is $180.81. The company has a debt-to-equity ratio of 0.31, a quick ratio of 0.42 and a current ratio of 0.45.

Diamondback Energy (NASDAQ:FANG) last released its earnings results on Monday, November 4th. The oil and natural gas company reported $3.38 earnings per share for the quarter, missing analysts’ consensus estimates of $4.62 by ($1.24). The company had revenue of $2.65 billion during the quarter, compared to analysts’ expectations of $2.43 billion. Diamondback Energy had a net margin of 33.64% and a return on equity of 13.68%. The firm’s revenue was up 13.0% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $5.49 earnings per share. Research analysts predict that Diamondback Energy, Inc. will post 15.55 EPS for the current fiscal year.

Diamondback Energy Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, November 21st. Stockholders of record on Thursday, November 14th were given a $0.90 dividend. This represents a $3.60 annualized dividend and a dividend yield of 2.19%. The ex-dividend date of this dividend was Thursday, November 14th. Diamondback Energy’s dividend payout ratio (DPR) is currently 20.61%.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on FANG. KeyCorp lowered their price objective on Diamondback Energy from $225.00 to $216.00 and set an “overweight” rating on the stock in a research report on Wednesday, October 16th. Benchmark reiterated a “buy” rating and set a $195.00 price objective on shares of Diamondback Energy in a research report on Tuesday, October 29th. Piper Sandler decreased their price target on Diamondback Energy from $252.00 to $232.00 and set an “overweight” rating on the stock in a research report on Tuesday, December 17th. Raymond James raised their price target on Diamondback Energy from $237.00 to $256.00 and gave the stock a “strong-buy” rating in a research report on Thursday, January 23rd. Finally, Royal Bank of Canada restated an “outperform” rating and issued a $210.00 price target on shares of Diamondback Energy in a research report on Thursday, January 23rd. Four investment analysts have rated the stock with a hold rating, eighteen have issued a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $215.00.

Insider Activity

In related news, Director Mark Lawrence Plaumann sold 1,150 shares of the company’s stock in a transaction that occurred on Wednesday, November 13th. The shares were sold at an average price of $181.00, for a total transaction of $208,150.00. Following the sale, the director now owns 4,712 shares of the company’s stock, valued at approximately $852,872. This represents a 19.62 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders own 0.48% of the company’s stock.

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.