Boston Partners Sells 157,037 Shares of Diamondback Energy, Inc. $FANG

Boston Partners reduced its stake in Diamondback Energy, Inc. (NASDAQ:FANG) by 2.7% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 5,576,501 shares of the oil and natural gas company’s stock after selling 157,037 shares during the period. Diamondback Energy makes up about 0.9% of Boston Partners’ holdings, making the stock its 17th largest holding. Boston Partners owned 1.95% of Diamondback Energy worth $838,488,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also recently made changes to their positions in the stock. Flagship Harbor Advisors LLC purchased a new stake in shares of Diamondback Energy in the fourth quarter worth $25,000. Richardson Financial Services Inc. increased its holdings in shares of Diamondback Energy by 245.1% in the fourth quarter. Richardson Financial Services Inc. now owns 176 shares of the oil and natural gas company’s stock worth $26,000 after buying an additional 125 shares during the period. Laurel Wealth Advisors LLC bought a new stake in shares of Diamondback Energy in the fourth quarter worth about $26,000. JPL Wealth Management LLC bought a new stake in shares of Diamondback Energy in the third quarter worth about $26,000. Finally, Wellington Shields & Co. LLC grew its stake in shares of Diamondback Energy by 264.7% in the fourth quarter. Wellington Shields & Co. LLC now owns 186 shares of the oil and natural gas company’s stock worth $28,000 after purchasing an additional 135 shares during the last quarter. 90.01% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on FANG. Wells Fargo & Company lifted their price objective on Diamondback Energy from $202.00 to $262.00 and gave the company an “overweight” rating in a research report on Monday, April 20th. Freedom Capital upgraded shares of Diamondback Energy to a “strong-buy” rating in a report on Tuesday, March 10th. Zacks Research lowered shares of Diamondback Energy from a “strong-buy” rating to a “hold” rating in a report on Thursday, May 28th. UBS Group boosted their target price on shares of Diamondback Energy from $240.00 to $245.00 and gave the company a “buy” rating in a research note on Friday, April 10th. Finally, Mizuho boosted their price objective on shares of Diamondback Energy from $220.00 to $240.00 and gave the company an “outperform” rating in a research report on Wednesday, May 27th. Four equities research analysts have rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating and five have given a Hold rating to the stock. Based on data from MarketBeat, Diamondback Energy has an average rating of “Moderate Buy” and a consensus price target of $223.63.

Insider Activity

In related news, CAO Teresa L. Dick sold 7,000 shares of the firm’s stock in a transaction on Tuesday, June 2nd. The shares were sold at an average price of $200.90, for a total transaction of $1,406,300.00. Following the completion of the transaction, the chief accounting officer owned 85,755 shares of the company’s stock, valued at $17,228,179.50. This trade represents a 7.55% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Matt Zmigrosky sold 5,000 shares of the firm’s stock in a transaction on Wednesday, May 13th. The shares were sold at an average price of $200.10, for a total transaction of $1,000,500.00. Following the sale, the executive vice president owned 51,392 shares in the company, valued at approximately $10,283,539.20. This represents a 8.87% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 54,065 shares of company stock valued at $10,551,236 over the last quarter. Insiders own 0.64% of the company’s stock.

Diamondback Energy Price Performance

NASDAQ FANG opened at $192.13 on Friday. The company has a debt-to-equity ratio of 0.31, a quick ratio of 0.55 and a current ratio of 0.56. The firm’s 50 day moving average price is $195.70 and its 200-day moving average price is $175.36. Diamondback Energy, Inc. has a 52-week low of $134.30 and a 52-week high of $214.51. The company has a market cap of $54.05 billion, a PE ratio of 223.41 and a beta of 0.42.

Diamondback Energy (NASDAQ:FANG) last announced its earnings results on Monday, May 4th. The oil and natural gas company reported $4.23 earnings per share for the quarter, beating the consensus estimate of $3.74 by $0.49. The company had revenue of $4.24 billion during the quarter, compared to the consensus estimate of $3.83 billion. Diamondback Energy had a net margin of 1.87% and a return on equity of 7.76%. Diamondback Energy’s revenue was up 4.7% compared to the same quarter last year. During the same period last year, the firm earned $4.54 earnings per share. Sell-side analysts forecast that Diamondback Energy, Inc. will post 19.92 EPS for the current fiscal year.

Diamondback Energy Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, May 21st. Investors of record on Thursday, May 14th were issued a dividend of $1.10 per share. This represents a $4.40 annualized dividend and a dividend yield of 2.3%. 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 dividend payout ratio is 511.63%.

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.