Diamondback Energy, Inc. $FANG Stake Lessened by Copeland Capital Management LLC

Copeland Capital Management LLC lessened its holdings in Diamondback Energy, Inc. (NASDAQ:FANG) by 87.7% in the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 7,260 shares of the oil and natural gas company’s stock after selling 51,615 shares during the quarter. Copeland Capital Management LLC’s holdings in Diamondback Energy were worth $1,039,000 as of its most recent SEC filing.

Other large investors have also recently bought and sold shares of the company. Woodmont Investment Counsel LLC grew its holdings in shares of Diamondback Energy by 1,123.0% during the 2nd quarter. Woodmont Investment Counsel LLC now owns 43,515 shares of the oil and natural gas company’s stock valued at $5,979,000 after acquiring an additional 39,957 shares in the last quarter. NorthRock Partners LLC boosted its position in Diamondback Energy by 181.6% during the second quarter. NorthRock Partners LLC now owns 3,551 shares of the oil and natural gas company’s stock valued at $488,000 after purchasing an additional 2,290 shares during the last quarter. Shell Asset Management Co. boosted its position in Diamondback Energy by 22.9% during the second quarter. Shell Asset Management Co. now owns 12,998 shares of the oil and natural gas company’s stock valued at $1,786,000 after purchasing an additional 2,423 shares during the last quarter. Vantage Investment Partners LLC grew its stake in Diamondback Energy by 4.4% in the second quarter. Vantage Investment Partners LLC now owns 83,184 shares of the oil and natural gas company’s stock valued at $11,429,000 after purchasing an additional 3,476 shares in the last quarter. Finally, Swedbank AB increased its position in Diamondback Energy by 3.9% in the 2nd quarter. Swedbank AB now owns 207,823 shares of the oil and natural gas company’s stock worth $28,555,000 after purchasing an additional 7,732 shares during the last quarter. 90.01% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Diamondback Energy

In related news, Director Charles Alvin Meloy sold 377,911 shares of the stock in a transaction that occurred on Thursday, December 4th. The stock was sold at an average price of $138.61, for a total transaction of $52,382,243.71. Following the completion of the sale, the director owned 1,044,864 shares in the company, valued at $144,828,599.04. This represents a 26.56% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 0.48% of the company’s stock.

Diamondback Energy Price Performance

Shares of Diamondback Energy stock opened at $151.25 on Wednesday. The company has a current ratio of 0.62, a quick ratio of 0.60 and a debt-to-equity ratio of 0.35. The firm has a fifty day simple moving average of $148.72 and a 200-day simple moving average of $144.88. The stock has a market capitalization of $43.32 billion, a price-to-earnings ratio of 10.51 and a beta of 0.63. Diamondback Energy, Inc. has a 1-year low of $114.00 and a 1-year high of $180.91.

Diamondback Energy (NASDAQ:FANG) last announced its earnings results on Monday, November 3rd. The oil and natural gas company reported $3.08 EPS for the quarter, topping the consensus estimate of $2.94 by $0.14. Diamondback Energy had a net margin of 27.32% and a return on equity of 9.57%. The firm had revenue of $3.92 billion for the quarter, compared to the consensus estimate of $3.48 billion. During the same quarter last year, the firm posted $3.19 EPS. The business’s quarterly revenue was up 48.4% on a year-over-year basis. On average, sell-side analysts expect that Diamondback Energy, Inc. will post 15.49 earnings per share for the current year.

Diamondback Energy Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, November 20th. Stockholders of record on Thursday, November 13th were paid a $1.00 dividend. The ex-dividend date was Thursday, November 13th. This represents a $4.00 dividend on an annualized basis and a dividend yield of 2.6%. Diamondback Energy’s payout ratio is presently 27.80%.

Analysts Set New Price Targets

Several equities research analysts recently commented on the company. Morgan Stanley reissued an “overweight” rating and issued a $183.00 price target on shares of Diamondback Energy in a research note on Thursday, November 20th. Royal Bank Of Canada reiterated an “outperform” rating and issued a $173.00 target price on shares of Diamondback Energy in a research note on Friday, October 10th. Wall Street Zen downgraded shares of Diamondback Energy from a “hold” rating to a “sell” rating in a research report on Saturday. Piper Sandler cut their price target on shares of Diamondback Energy from $222.00 to $219.00 and set an “overweight” rating on the stock in a report on Tuesday, November 18th. Finally, Barclays reduced their price objective on shares of Diamondback Energy from $185.00 to $178.00 and set an “overweight” rating for the company in a research note on Tuesday, October 7th. One investment analyst has rated the stock with a Strong Buy rating, twenty have issued a Buy rating and one has issued a Hold rating to the company. According to MarketBeat, Diamondback Energy has an average rating of “Buy” and an average price target of $188.76.

About Diamondback Energy

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.