Diamondback Energy, Inc. (NASDAQ:FANG) Shares Sold by EP Wealth Advisors LLC

EP Wealth Advisors LLC trimmed its holdings in Diamondback Energy, Inc. (NASDAQ:FANG) by 50.8% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 2,686 shares of the oil and natural gas company’s stock after selling 2,771 shares during the period. EP Wealth Advisors LLC’s holdings in Diamondback Energy were worth $440,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also recently added to or reduced their stakes in FANG. Wealth Enhancement Advisory Services LLC grew its stake in Diamondback Energy by 4.0% in the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 16,608 shares of the oil and natural gas company’s stock valued at $2,863,000 after acquiring an additional 637 shares during the last quarter. Czech National Bank grew its stake in Diamondback Energy by 6.2% in the 4th quarter. Czech National Bank now owns 40,518 shares of the oil and natural gas company’s stock valued at $6,638,000 after acquiring an additional 2,352 shares during the last quarter. Fragasso Financial Advisors Inc grew its stake in Diamondback Energy by 3.8% in the 4th quarter. Fragasso Financial Advisors Inc now owns 1,928 shares of the oil and natural gas company’s stock valued at $316,000 after acquiring an additional 70 shares during the last quarter. Salem Investment Counselors Inc. grew its stake in Diamondback Energy by 0.6% in the 4th quarter. Salem Investment Counselors Inc. now owns 21,892 shares of the oil and natural gas company’s stock valued at $3,587,000 after acquiring an additional 120 shares during the last quarter. Finally, Moody National Bank Trust Division lifted its holdings in Diamondback Energy by 50.6% in the 4th quarter. Moody National Bank Trust Division now owns 30,120 shares of the oil and natural gas company’s stock valued at $4,935,000 after purchasing an additional 10,120 shares in the last quarter. 90.01% of the stock is owned by institutional investors and hedge funds.

Diamondback Energy Trading Up 1.3%

NASDAQ FANG opened at $137.89 on Monday. Diamondback Energy, Inc. has a one year low of $114.00 and a one year high of $214.50. The company’s 50 day moving average price is $141.07 and its 200 day moving average price is $159.09. The company has a debt-to-equity ratio of 0.31, a quick ratio of 0.42 and a current ratio of 0.45. The firm has a market capitalization of $40.29 billion, a price-to-earnings ratio of 7.89, a PEG ratio of 1.24 and a beta of 1.06.

Diamondback Energy (NASDAQ:FANG) last posted its quarterly earnings results on Monday, May 5th. The oil and natural gas company reported $4.54 EPS for the quarter, beating the consensus estimate of $3.67 by $0.87. Diamondback Energy had a net margin of 33.64% and a return on equity of 13.68%. The firm had revenue of $4.05 billion for the quarter, compared to analyst estimates of $3.58 billion. During the same quarter last year, the firm posted $4.50 earnings per share. Diamondback Energy’s revenue for the quarter was up 81.8% compared to the same quarter last year. On average, sell-side analysts predict that Diamondback Energy, Inc. will post 15.49 EPS for the current year.

Diamondback Energy Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, May 22nd. Investors of record on Thursday, May 15th will be issued a $1.00 dividend. The ex-dividend date is Thursday, May 15th. This represents a $4.00 annualized dividend and a yield of 2.90%. Diamondback Energy’s payout ratio is 24.46%.

Insider Activity at Diamondback Energy

In other news, Director Frank D. Tsuru acquired 2,000 shares of the stock in a transaction on Friday, February 28th. The stock was bought at an average price of $156.51 per share, with a total value of $313,020.00. Following the completion of the transaction, the director now directly owns 5,730 shares of the company’s stock, valued at $896,802.30. The trade was a 53.62% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 0.70% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on the stock. Barclays reduced their target price on shares of Diamondback Energy from $200.00 to $185.00 and set an “overweight” rating on the stock in a report on Wednesday, April 23rd. Raymond James reduced their target price on shares of Diamondback Energy from $245.00 to $214.00 and set a “strong-buy” rating on the stock in a report on Wednesday, March 12th. Mizuho upped their target price on shares of Diamondback Energy from $201.00 to $204.00 and gave the company an “outperform” rating in a report on Tuesday, February 25th. Bank of America upgraded shares of Diamondback Energy from a “neutral” rating to a “buy” rating and reduced their target price for the company from $202.00 to $170.00 in a report on Tuesday, April 29th. Finally, Morgan Stanley reiterated an “overweight” rating on shares of Diamondback Energy in a report on Tuesday, April 15th. Two research analysts have rated the stock with a hold rating, nineteen have issued a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat, Diamondback Energy presently has an average rating of “Buy” and a consensus target price of $195.57.

Diamondback Energy Company Profile

Diamondback Energy, Inc, an independent oil and natural gas company, acquires, develops, explores, and exploits unconventional, onshore oil and natural gas reserves in the Permian Basin in West Texas. It focuses on the development of the Spraberry and Wolfcamp formations of the Midland basin; and the Wolfcamp and Bone Spring formations of the Delaware basin, which are part of the Permian Basin in West Texas and New Mexico.