EULAV Asset Management Sells 3,000 Shares of Diamondback Energy, Inc. $FANG

EULAV Asset Management decreased its position in shares of Diamondback Energy, Inc. (NASDAQ:FANG) by 12.0% in the 4th quarter, Holdings Channel reports. The fund owned 22,000 shares of the oil and natural gas company’s stock after selling 3,000 shares during the quarter. EULAV Asset Management’s holdings in Diamondback Energy were worth $3,307,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Boston Partners grew its stake in shares of Diamondback Energy by 2.9% during the 3rd quarter. Boston Partners now owns 5,733,538 shares of the oil and natural gas company’s stock worth $821,649,000 after acquiring an additional 163,548 shares during the period. Geode Capital Management LLC grew its stake in shares of Diamondback Energy by 0.3% during the 4th quarter. Geode Capital Management LLC now owns 5,621,120 shares of the oil and natural gas company’s stock worth $844,073,000 after acquiring an additional 14,625 shares during the period. Bank of New York Mellon Corp grew its stake in shares of Diamondback Energy by 11.5% during the 4th quarter. Bank of New York Mellon Corp now owns 5,159,365 shares of the oil and natural gas company’s stock worth $775,607,000 after acquiring an additional 532,756 shares during the period. Capital Research Global Investors grew its stake in shares of Diamondback Energy by 38.0% during the 3rd 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 acquiring an additional 1,046,398 shares during the period. Finally, Invesco Ltd. grew its stake in shares of Diamondback Energy by 9.6% during the 3rd quarter. Invesco Ltd. now owns 3,120,359 shares of the oil and natural gas company’s stock worth $446,523,000 after acquiring an additional 274,331 shares during the period. Institutional investors own 90.01% of the company’s stock.

Key Diamondback Energy News

Here are the key news stories impacting Diamondback Energy this week:

• Positive Sentiment: Zacks Research and KeyCorp both lifted several near- and longer-term earnings estimates for Diamondback Energy, suggesting analysts still see solid profit potential ahead. Zacks also reiterated a Hold rating, while KeyCorp kept an Overweight rating and a $225 price target.
• Positive Sentiment: Zacks described Diamondback Energy as a strong momentum stock, which may reinforce bullish sentiment around the name. Zacks momentum stock article
• Neutral Sentiment: One article noted that Diamondback Energy has been trading near highs, but the focus was on market activity rather than a direct company-specific catalyst.
• Negative Sentiment: Financial Post reported that the daughter of late wildcatter Autry Stephens is offloading a $2 billion energy stake, including a Diamondback Energy position. Large insider- or major-holder selling can weigh on sentiment because investors may view it as profit-taking after a strong run. Stephens family stake sale in Diamondback Energy

Insider Transactions at Diamondback Energy

In other Diamondback Energy news, CFO Jere W. Thompson III sold 750 shares of the firm’s stock in a transaction dated Monday, March 16th. The stock was sold at an average price of $182.47, for a total value of $136,852.50. Following the sale, the chief financial officer owned 19,975 shares of the company’s stock, valued at $3,644,838.25. This trade represents a 3.62% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Charles Alvin Meloy sold 7,857 shares of the firm’s stock in a transaction dated Thursday, May 7th. The shares were sold at an average price of $189.20, for a total value of $1,486,544.40. Following the completion of the sale, the director directly owned 942,721 shares in the company, valued at approximately $178,362,813.20. The trade was a 0.83% 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. Over the last quarter, insiders have sold 86,321 shares of company stock worth $16,386,359. 0.64% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on FANG. Wall Street Zen upgraded Diamondback Energy from a “sell” rating to a “hold” rating in a research note on Saturday, May 9th. Roth Mkm restated a “neutral” rating and issued a $205.00 target price on shares of Diamondback Energy in a research note on Tuesday, May 5th. Susquehanna raised their target price on Diamondback Energy from $231.00 to $245.00 and gave the stock a “positive” rating in a research note on Wednesday, May 6th. The Goldman Sachs Group raised their target price on Diamondback Energy from $187.00 to $212.00 and gave the stock a “buy” rating in a research note on Wednesday, March 11th. Finally, Zacks Research downgraded Diamondback Energy from a “strong-buy” rating to a “hold” rating in a research note on Thursday, May 28th. Four investment analysts have rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating and five have assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $223.26.

Diamondback Energy Stock Down 5.1%

Shares of NASDAQ FANG opened at $192.62 on Friday. Diamondback Energy, Inc. has a 52 week low of $134.30 and a 52 week high of $214.51. The business has a 50-day simple moving average of $196.07 and a two-hundred day simple moving average of $173.72. The company has a quick ratio of 0.55, a current ratio of 0.56 and a debt-to-equity ratio of 0.31. The company has a market cap of $54.19 billion, a P/E ratio of 223.98 and a beta of 0.42.

Diamondback Energy (NASDAQ:FANG) last issued its earnings results on Monday, May 4th. The oil and natural gas company reported $4.23 EPS for the quarter, topping the consensus estimate of $3.74 by $0.49. Diamondback Energy had a return on equity of 7.76% and a net margin of 1.87%.The business had revenue of $4.24 billion during the quarter, compared to the consensus estimate of $3.83 billion. During the same quarter last year, the company earned $4.54 EPS. The firm’s revenue was up 4.7% compared to the same quarter last year. Research analysts anticipate that Diamondback Energy, Inc. will post 19.54 earnings per share for the current fiscal year.

Diamondback Energy Increases Dividend

The firm also recently declared 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 dividend yield of 2.3%. The ex-dividend date of this dividend was Thursday, May 14th. This is an increase from Diamondback Energy’s previous quarterly dividend of $1.05. Diamondback Energy’s 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.