Epoch Investment Partners Inc. Decreases Holdings in Diamondback Energy, Inc. $FANG

Epoch Investment Partners Inc. trimmed its holdings in shares of Diamondback Energy, Inc. (NASDAQ:FANG) by 9.6% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 207,666 shares of the oil and natural gas company’s stock after selling 22,171 shares during the period. Epoch Investment Partners Inc. owned about 0.07% of Diamondback Energy worth $41,074,000 at the end of the most recent reporting period.

Several other institutional investors also recently added to or reduced their stakes in the stock. Massachusetts Financial Services Co. MA grew its holdings in Diamondback Energy by 4.1% during the fourth quarter. Massachusetts Financial Services Co. MA now owns 1,441,622 shares of the oil and natural gas company’s stock valued at $216,719,000 after purchasing an additional 56,194 shares during the period. Mirae Asset Global Investments Co. Ltd. raised its stake in shares of Diamondback Energy by 18.3% in the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 139,308 shares of the oil and natural gas company’s stock valued at $20,942,000 after buying an additional 21,575 shares during the period. Eagle Global Advisors LLC purchased a new position in shares of Diamondback Energy during the 4th quarter valued at $5,472,000. Hsbc Holdings PLC lifted its position in shares of Diamondback Energy by 16.3% during the 4th quarter. Hsbc Holdings PLC now owns 338,577 shares of the oil and natural gas company’s stock valued at $50,890,000 after buying an additional 47,450 shares during the last quarter. Finally, QSM Asset Management Ltd grew its stake in shares of Diamondback Energy by 100.0% during the 4th quarter. QSM Asset Management Ltd now owns 61,000 shares of the oil and natural gas company’s stock worth $9,170,000 after acquiring an additional 30,500 shares during the period. Institutional investors own 90.01% of the company’s stock.

Diamondback Energy Price Performance

Shares of Diamondback Energy stock opened at $204.68 on Friday. The company has a current ratio of 0.56, a quick ratio of 0.55 and a debt-to-equity ratio of 0.31. The firm has a market capitalization of $57.58 billion, a PE ratio of 238.00 and a beta of 0.42. The business’s 50-day moving average price is $191.42 and its 200-day moving average price is $182.57. Diamondback Energy, Inc. has a 12 month low of $134.30 and a 12 month high of $214.51.

Diamondback Energy (NASDAQ:FANG) last announced its quarterly earnings data on Monday, May 4th. The oil and natural gas company reported $4.23 earnings per share for the quarter, beating analysts’ consensus estimates of $3.74 by $0.49. The company had revenue of $4.24 billion for the quarter, compared to analysts’ expectations of $3.83 billion. Diamondback Energy had a return on equity of 7.76% and a net margin of 1.87%.Diamondback Energy’s revenue for the quarter was up 4.7% compared to the same quarter last year. During the same period last year, the firm posted $4.54 EPS. Sell-side analysts forecast that Diamondback Energy, Inc. will post 18.9 EPS for the current fiscal year.

Diamondback Energy Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, May 21st. Shareholders of record on Thursday, May 14th were paid a dividend of $1.10 per share. This represents a $4.40 annualized dividend and a dividend yield of 2.1%. This is a boost from Diamondback Energy’s previous quarterly dividend of $1.05. The ex-dividend date of this dividend was Thursday, May 14th. Diamondback Energy’s payout ratio is 511.63%.

Analyst Ratings Changes

A number of equities research analysts recently issued reports on the company. UBS Group lowered their price objective on Diamondback Energy from $246.00 to $243.00 and set a “buy” rating on the stock in a research note on Tuesday. Zacks Research cut shares of Diamondback Energy from a “strong-buy” rating to a “hold” rating in a report on Thursday, May 28th. Citigroup cut their price objective on shares of Diamondback Energy from $245.00 to $221.00 and set a “buy” rating for the company in a research report on Monday, July 20th. Wall Street Zen upgraded Diamondback Energy from a “sell” rating to a “hold” rating in a research report on Saturday, May 9th. Finally, Roth Capital set a $212.00 target price on Diamondback Energy and gave the stock a “buy” rating in a research note on Monday, June 22nd. Four investment analysts have rated the stock with a Strong Buy rating, seventeen have issued a Buy rating and four have issued a Hold rating to the stock. Based on data from MarketBeat.com, Diamondback Energy has an average rating of “Buy” and an average target price of $218.68.

Insider Buying and Selling at Diamondback Energy

In other Diamondback Energy news, Director Mark Lawrence Plaumann sold 500 shares of the business’s stock in a transaction on Tuesday, June 9th. The shares were sold at an average price of $196.50, for a total value of $98,250.00. Following the completion of the sale, the director directly owned 13,437 shares of the company’s stock, valued at $2,640,370.50. The trade was a 3.59% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, EVP Matt Zmigrosky sold 5,000 shares of the company’s stock in a transaction dated Monday, June 1st. The shares were sold at an average price of $200.54, for a total transaction of $1,002,700.00. Following the sale, the executive vice president owned 46,392 shares of the company’s stock, valued at approximately $9,303,451.68. The trade was a 9.73% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders have sold 113,691 shares of company stock valued at $21,622,752. Insiders own 0.64% of the company’s stock.

Diamondback Energy Company Profile

Diamondback Energy, Inc (NASDAQ: FANG) is an independent oil and natural gas company focused on the development, exploration and production of unconventional resources in the Permian Basin. Headquartered in Midland, Texas, the company concentrates its operations in the core Midland and Delaware sub‑basins of West Texas and southeastern New Mexico, where it pursues contiguous acreage positions to support repeatable drilling programs.

Diamondback’s activities span the upstream value chain, including leasehold acquisition, well planning, drilling, completion and production optimization.