Diamondback Energy, Inc. $FANG Position Cut by Copeland Capital Management LLC

Copeland Capital Management LLC reduced its holdings in Diamondback Energy, Inc. (NASDAQ:FANG) by 87.7% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm 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 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. Smead Capital Management Inc. acquired a new position in shares of Diamondback Energy during the second quarter valued at $144,775,000. Adage Capital Partners GP L.L.C. bought a new position in Diamondback Energy in the 1st quarter valued at about $77,622,000. Vanguard Group Inc. increased its stake in Diamondback Energy by 1.7% during the 2nd quarter. Vanguard Group Inc. now owns 23,325,287 shares of the oil and natural gas company’s stock valued at $3,204,894,000 after buying an additional 388,512 shares during the period. Bank of New York Mellon Corp increased its stake in Diamondback Energy by 9.0% during the 2nd quarter. Bank of New York Mellon Corp now owns 4,642,218 shares of the oil and natural gas company’s stock valued at $637,841,000 after buying an additional 384,971 shares during the period. Finally, American Century Companies Inc. raised its position in shares of Diamondback Energy by 44.8% during the 2nd quarter. American Century Companies Inc. now owns 985,844 shares of the oil and natural gas company’s stock worth $135,456,000 after buying an additional 305,207 shares in the last quarter. Institutional investors own 90.01% of the company’s stock.

Insider Activity at Diamondback Energy

In other news, Director Charles Alvin Meloy sold 377,911 shares of Diamondback Energy stock in a transaction that occurred on Thursday, December 4th. The shares were sold at an average price of $138.61, for a total value of $52,382,243.71. Following the transaction, the director directly owned 1,044,864 shares of the company’s stock, valued at $144,828,599.04. This trade represents a 26.56% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 0.48% of the stock is currently owned by insiders.

Diamondback Energy Price Performance

Shares of NASDAQ:FANG opened at $151.25 on Wednesday. The company has a market capitalization of $43.32 billion, a PE ratio of 10.51 and a beta of 0.63. The company has a debt-to-equity ratio of 0.35, a quick ratio of 0.60 and a current ratio of 0.62. The stock has a fifty day moving average of $148.72 and a 200-day moving average of $144.88. Diamondback Energy, Inc. has a one year low of $114.00 and a one 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 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.94 by $0.14. Diamondback Energy had a return on equity of 9.57% and a net margin of 27.32%.The company had revenue of $3.92 billion for the quarter, compared to analyst estimates of $3.48 billion. During the same period in the previous year, the firm earned $3.19 earnings per share. Diamondback Energy’s revenue for the quarter was up 48.4% compared to the same quarter last year. As a group, equities analysts anticipate that Diamondback Energy, Inc. will post 15.49 EPS for the current fiscal year.

Diamondback Energy Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, November 20th. Shareholders of record on Thursday, November 13th were issued a $1.00 dividend. This represents a $4.00 annualized dividend and a dividend yield of 2.6%. The ex-dividend date was Thursday, November 13th. Diamondback Energy’s dividend payout ratio (DPR) is presently 27.80%.

Analyst Ratings Changes

Several research analysts have recently issued reports on the stock. Weiss Ratings reiterated a “hold (c)” rating on shares of Diamondback Energy in a report on Monday. UBS Group upped their target price on Diamondback Energy from $174.00 to $194.00 and gave the stock a “buy” rating in a research report on Friday, December 12th. Barclays lowered their price target on Diamondback Energy from $185.00 to $178.00 and set an “overweight” rating on the stock in a research report on Tuesday, October 7th. Susquehanna cut their price objective on Diamondback Energy to $188.00 and set a “positive” rating for the company in a report on Monday, October 20th. Finally, Scotiabank reaffirmed an “outperform” rating on shares of Diamondback Energy in a research note on Thursday, October 9th. One analyst has rated the stock with a Strong Buy rating, twenty have assigned a Buy rating and one has issued a Hold rating to the company. According to data from MarketBeat.com, Diamondback Energy currently has a consensus rating of “Buy” and a consensus 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.