Massachusetts Financial Services Co. MA Raises Stock Holdings in Diamondback Energy, Inc. $FANG

Massachusetts Financial Services Co. MA increased its position in Diamondback Energy, Inc. (NASDAQ:FANG) by 4.1% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,441,622 shares of the oil and natural gas company’s stock after purchasing an additional 56,194 shares during the quarter. Massachusetts Financial Services Co. MA owned approximately 0.50% of Diamondback Energy worth $216,719,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently bought and sold shares of FANG. Smead Capital Management Inc. bought a new position in Diamondback Energy in the second quarter worth approximately $144,775,000. Capital Research Global Investors grew its stake in Diamondback Energy by 38.0% in the third quarter. Capital Research Global Investors now owns 3,798,812 shares of the oil and natural gas company’s stock worth $543,610,000 after purchasing an additional 1,046,398 shares in the last quarter. Balyasny Asset Management L.P. grew its stake in Diamondback Energy by 2,637.8% in the third quarter. Balyasny Asset Management L.P. now owns 456,686 shares of the oil and natural gas company’s stock worth $65,352,000 after purchasing an additional 440,005 shares in the last quarter. Two Sigma Investments LP grew its stake in Diamondback Energy by 1,127.8% in the third quarter. Two Sigma Investments LP now owns 369,568 shares of the oil and natural gas company’s stock worth $52,885,000 after purchasing an additional 339,468 shares in the last quarter. Finally, Ninepoint Partners LP bought a new position in Diamondback Energy in the third quarter worth approximately $45,076,000. Institutional investors own 90.01% of the company’s stock.

Insider Activity

In other news, CAO Teresa L. Dick sold 5,000 shares of the stock in a transaction on Wednesday, March 18th. The stock was sold at an average price of $190.00, for a total transaction of $950,000.00. Following the completion of the sale, the chief accounting officer owned 107,755 shares in the company, valued at approximately $20,473,450. This represents a 4.43% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Charles Alvin Meloy sold 7,857 shares of the stock in a transaction on Monday, April 6th. The shares were sold at an average price of $193.93, for a total value of $1,523,708.01. Following the sale, the director owned 958,435 shares of the company’s stock, valued at approximately $185,869,299.55. This represents a 0.81% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last 90 days, insiders have sold 1,217,069 shares of company stock worth $201,213,109. Company insiders own 0.70% of the company’s stock.

Diamondback Energy Price Performance

Shares of NASDAQ FANG opened at $188.21 on Monday. The company has a current ratio of 0.42, a quick ratio of 0.40 and a debt-to-equity ratio of 0.32. The stock has a market capitalization of $52.94 billion, a PE ratio of 33.55 and a beta of 0.50. The stock’s fifty day simple moving average is $180.46 and its two-hundred day simple moving average is $159.76. Diamondback Energy, Inc. has a 12-month low of $121.03 and a 12-month high of $204.91.

Diamondback Energy (NASDAQ:FANG) last announced its earnings results on Monday, February 23rd. The oil and natural gas company reported $1.74 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.00 by ($0.26). The company had revenue of $3.38 billion for the quarter, compared to the consensus estimate of $3.41 billion. Diamondback Energy had a net margin of 11.07% and a return on equity of 8.08%. The firm’s revenue was down 9.0% compared to the same quarter last year. During the same period last year, the business posted $3.67 EPS. As a group, analysts expect that Diamondback Energy, Inc. will post 15.49 EPS for the current fiscal year.

Diamondback Energy Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, March 12th. Shareholders of record on Thursday, March 5th were given a dividend of $1.05 per share. This is a boost from Diamondback Energy’s previous quarterly dividend of $1.00. The ex-dividend date of this dividend was Thursday, March 5th. This represents a $4.20 annualized dividend and a yield of 2.2%. Diamondback Energy’s payout ratio is 74.87%.

Analyst Ratings Changes

Several research analysts recently issued reports on the company. Weiss Ratings reissued a “hold (c)” rating on shares of Diamondback Energy in a research note on Monday, December 29th. Benchmark cut Diamondback Energy from a “buy” rating to a “hold” rating in a research note on Thursday, March 5th. Raymond James Financial increased their price objective on Diamondback Energy from $210.00 to $240.00 and gave the stock a “strong-buy” rating in a research note on Tuesday, March 17th. Morgan Stanley increased their price objective on Diamondback Energy from $171.00 to $220.00 and gave the stock an “overweight” rating in a research note on Friday, March 27th. Finally, Wells Fargo & Company increased their price objective on Diamondback Energy from $171.00 to $202.00 and gave the stock an “overweight” rating in a research note on Monday, March 16th. Five research analysts have rated the stock with a Strong Buy rating, seventeen have issued a Buy rating and four have given a Hold rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Buy” and a consensus target price of $203.95.

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.