Epoch Investment Partners Inc. Purchases 21,510 Shares of Diamondback Energy, Inc. $FANG

Epoch Investment Partners Inc. raised its stake in shares of Diamondback Energy, Inc. (NASDAQ:FANG) by 10.3% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 229,837 shares of the oil and natural gas company’s stock after buying an additional 21,510 shares during the quarter. Epoch Investment Partners Inc.’s holdings in Diamondback Energy were worth $34,551,000 at the end of the most recent reporting period.

Other hedge funds have also added to or reduced their stakes in the company. Smead Capital Management Inc. grew its holdings in Diamondback Energy by 24.6% during the 3rd quarter. Smead Capital Management Inc. now owns 1,312,413 shares of the oil and natural gas company’s stock valued at $187,806,000 after buying an additional 258,738 shares in the last quarter. Dimensional Fund Advisors LP grew its holdings in Diamondback Energy by 9.2% during the 3rd quarter. Dimensional Fund Advisors LP now owns 2,355,480 shares of the oil and natural gas company’s stock valued at $337,078,000 after buying an additional 198,919 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. boosted its position in shares of Diamondback Energy by 18.3% during the 4th 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 acquiring an additional 21,575 shares during the last quarter. Massachusetts Financial Services Co. MA boosted its position in shares of Diamondback Energy by 4.1% during the 4th 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 acquiring an additional 56,194 shares during the last quarter. Finally, Eagle Global Advisors LLC bought a new stake in shares of Diamondback Energy during the 4th quarter valued at about $5,472,000. Hedge funds and other institutional investors own 90.01% of the company’s stock.

Diamondback Energy Price Performance

Shares of FANG stock opened at $192.13 on Monday. The stock has a market cap of $54.05 billion, a price-to-earnings ratio of 223.41 and a beta of 0.42. The business’s fifty day moving average is $195.70 and its 200 day moving average is $175.56. Diamondback Energy, Inc. has a twelve month low of $134.30 and a twelve month high of $214.51. The company has a quick ratio of 0.55, a current ratio of 0.56 and a debt-to-equity ratio of 0.31.

Diamondback Energy (NASDAQ:FANG) last issued its quarterly earnings results on Monday, May 4th. The oil and natural gas company reported $4.23 earnings per share for the quarter, topping the consensus estimate 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%.The firm’s revenue for the quarter was up 4.7% on a year-over-year basis. During the same period in the prior year, the firm earned $4.54 earnings per share. Research analysts expect that Diamondback Energy, Inc. will post 19.92 EPS for the current fiscal year.

Diamondback Energy Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, May 21st. Shareholders of record on Thursday, May 14th were issued a $1.10 dividend. This represents a $4.40 annualized dividend and a yield of 2.3%. This is a positive change 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 presently 511.63%.

Insiders Place Their Bets

In other Diamondback Energy news, CAO Teresa L. Dick sold 7,000 shares of the business’s stock in a transaction on Tuesday, June 2nd. The stock was sold at an average price of $200.90, for a total value of $1,406,300.00. Following the sale, the chief accounting officer directly owned 85,755 shares of the company’s stock, valued at approximately $17,228,179.50. The trade was a 7.55% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP Matt Zmigrosky sold 5,000 shares of the business’s stock in a transaction on Monday, June 1st. The stock was sold at an average price of $200.54, for a total value of $1,002,700.00. Following the completion of the sale, the executive vice president directly owned 46,392 shares in the company, valued at $9,303,451.68. This trade represents a 9.73% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders sold 53,315 shares of company stock valued at $10,414,384. Company insiders own 0.64% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on the company. UBS Group lifted their price target on Diamondback Energy from $240.00 to $245.00 and gave the company a “buy” rating in a research report on Friday, April 10th. Benchmark downgraded Diamondback Energy from a “buy” rating to a “hold” rating in a research report on Thursday, March 5th. Freedom Capital upgraded Diamondback Energy to a “strong-buy” rating in a research report on Tuesday, March 10th. Weiss Ratings restated a “hold (c)” rating on shares of Diamondback Energy in a research report on Wednesday, May 27th. Finally, Sanford C. Bernstein boosted their target price on Diamondback Energy from $237.00 to $241.00 and gave the stock an “outperform” rating in a research report on Monday, May 11th. Four research analysts have rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating and five have issued a Hold rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $223.63.

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.