Epoch Investment Partners Inc. Decreases Stock Position in Diamondback Energy, Inc. (NASDAQ:FANG)

Epoch Investment Partners Inc. reduced its position in Diamondback Energy, Inc. (NASDAQ:FANG) by 4.7% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 77,643 shares of the oil and natural gas company’s stock after selling 3,829 shares during the quarter. Epoch Investment Partners Inc.’s holdings in Diamondback Energy were worth $15,387,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also bought and sold shares of the company. Sage Mountain Advisors LLC grew its position in shares of Diamondback Energy by 4.5% in the first quarter. Sage Mountain Advisors LLC now owns 1,420 shares of the oil and natural gas company’s stock valued at $281,000 after purchasing an additional 61 shares in the last quarter. MCF Advisors LLC grew its position in shares of Diamondback Energy by 8.6% in the fourth quarter. MCF Advisors LLC now owns 846 shares of the oil and natural gas company’s stock valued at $131,000 after purchasing an additional 67 shares in the last quarter. Meeder Advisory Services Inc. boosted its stake in Diamondback Energy by 2.8% during the first quarter. Meeder Advisory Services Inc. now owns 2,612 shares of the oil and natural gas company’s stock valued at $518,000 after buying an additional 72 shares during the period. Edmond DE Rothschild Holding S.A. boosted its stake in Diamondback Energy by 20.8% during the first quarter. Edmond DE Rothschild Holding S.A. now owns 424 shares of the oil and natural gas company’s stock valued at $84,000 after buying an additional 73 shares during the period. Finally, Wetzel Investment Advisors Inc. boosted its stake in Diamondback Energy by 9.4% during the first quarter. Wetzel Investment Advisors Inc. now owns 859 shares of the oil and natural gas company’s stock valued at $171,000 after buying an additional 74 shares during the period. 90.01% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Diamondback Energy

In other news, COO Daniel N. Wesson sold 6,000 shares of the company’s stock in a transaction on Tuesday, May 28th. The stock was sold at an average price of $197.14, for a total value of $1,182,840.00. Following the completion of the sale, the chief operating officer now directly owns 69,677 shares in the company, valued at approximately $13,736,123.78. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other Diamondback Energy news, VP Jere W. Thompson III sold 900 shares of the stock in a transaction on Friday, May 3rd. The stock was sold at an average price of $199.90, for a total value of $179,910.00. Following the completion of the sale, the vice president now owns 7,585 shares in the company, valued at approximately $1,516,241.50. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, COO Daniel N. Wesson sold 6,000 shares of the stock in a transaction on Tuesday, May 28th. The stock was sold at an average price of $197.14, for a total value of $1,182,840.00. Following the completion of the sale, the chief operating officer now owns 69,677 shares of the company’s stock, valued at approximately $13,736,123.78. The disclosure for this sale can be found here. 0.48% of the stock is currently owned by company insiders.

Diamondback Energy Stock Up 0.5 %

FANG stock opened at $200.76 on Monday. The company has a market capitalization of $35.80 billion, a price-to-earnings ratio of 11.32, a price-to-earnings-growth ratio of 1.08 and a beta of 1.90. Diamondback Energy, Inc. has a fifty-two week low of $142.71 and a fifty-two week high of $214.50. The company has a debt-to-equity ratio of 0.37, a quick ratio of 0.89 and a current ratio of 0.92. The business’s 50 day moving average price is $197.98 and its two-hundred day moving average price is $188.62.

Diamondback Energy (NASDAQ:FANG) last released its quarterly earnings data on Tuesday, April 30th. The oil and natural gas company reported $4.50 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.29 by $0.21. The business had revenue of $2.23 billion for the quarter, compared to analysts’ expectations of $2.10 billion. Diamondback Energy had a return on equity of 19.36% and a net margin of 36.71%. The firm’s quarterly revenue was up 15.7% on a year-over-year basis. During the same period in the prior year, the firm posted $4.10 EPS. As a group, analysts forecast that Diamondback Energy, Inc. will post 18.63 earnings per share for the current fiscal year.

Diamondback Energy Cuts Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, May 22nd. Stockholders of record on Wednesday, May 15th were paid a $0.90 dividend. The ex-dividend date was Tuesday, May 14th. This represents a $3.60 annualized dividend and a dividend yield of 1.79%. Diamondback Energy’s dividend payout ratio (DPR) is 20.29%.

Analyst Upgrades and Downgrades

FANG has been the subject of several research analyst reports. Sanford C. Bernstein dropped their price objective on Diamondback Energy from $243.00 to $236.00 and set an “outperform” rating for the company in a research note on Wednesday, July 17th. KeyCorp initiated coverage on Diamondback Energy in a research note on Thursday, June 27th. They set an “overweight” rating and a $225.00 price objective for the company. Wells Fargo & Company lifted their price objective on Diamondback Energy from $224.00 to $231.00 and gave the company an “overweight” rating in a research note on Thursday, July 18th. Mizuho lifted their price objective on Diamondback Energy from $217.00 to $222.00 and gave the company a “buy” rating in a research note on Monday, May 13th. Finally, Piper Sandler lifted their price target on Diamondback Energy from $247.00 to $249.00 and gave the stock an “overweight” rating in a research note on Thursday, July 18th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating, fourteen have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $209.65.

Diamondback Energy 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.