Diamondback Energy, Inc. $FANG Stake Lowered by EULAV Asset Management

EULAV Asset Management trimmed its position in shares of Diamondback Energy, Inc. (NASDAQ:FANG) by 51.9% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 25,000 shares of the oil and natural gas company’s stock after selling 27,000 shares during the period. EULAV Asset Management’s holdings in Diamondback Energy were worth $3,578,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also recently bought and sold shares of the company. E Fund Management Hong Kong Co. Ltd. raised its stake in shares of Diamondback Energy by 106.3% during the 3rd quarter. E Fund Management Hong Kong Co. Ltd. now owns 198 shares of the oil and natural gas company’s stock worth $28,000 after purchasing an additional 102 shares in the last quarter. Creekmur Asset Management LLC acquired a new position in Diamondback Energy in the second quarter worth approximately $28,000. Salomon & Ludwin LLC acquired a new position in Diamondback Energy in the third quarter worth approximately $31,000. Twin Peaks Wealth Advisors LLC bought a new position in Diamondback Energy during the second quarter valued at approximately $29,000. Finally, Estabrook Capital Management acquired a new stake in Diamondback Energy in the second quarter valued at approximately $41,000. Institutional investors and hedge funds own 90.01% of the company’s stock.

Diamondback Energy Stock Performance

FANG opened at $150.82 on Friday. The company has a quick ratio of 0.60, a current ratio of 0.62 and a debt-to-equity ratio of 0.35. The stock’s 50 day moving average price is $150.22 and its two-hundred day moving average price is $145.19. The firm has a market capitalization of $43.19 billion, a P/E ratio of 10.48 and a beta of 0.59. Diamondback Energy, Inc. has a 12-month low of $114.00 and a 12-month high of $180.91.

Diamondback Energy (NASDAQ:FANG) last posted its quarterly earnings data on Monday, November 3rd. The oil and natural gas company reported $3.08 earnings per share for the quarter, beating the consensus estimate 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 during the quarter, compared to analysts’ expectations of $3.48 billion. During the same period in the prior year, the business earned $3.19 earnings per share. Diamondback Energy’s revenue for the quarter was up 48.4% compared to the same quarter last year. On average, equities analysts forecast that Diamondback Energy, Inc. will post 15.49 earnings per share for the current year.

Diamondback Energy Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, November 20th. Stockholders of record on Thursday, November 13th were issued a dividend of $1.00 per share. The ex-dividend date was Thursday, November 13th. This represents a $4.00 annualized dividend and a dividend yield of 2.7%. Diamondback Energy’s payout ratio is presently 27.80%.

Insider Activity

In other news, Director Charles Alvin Meloy sold 377,911 shares of the company’s stock in a transaction dated Thursday, December 4th. The shares were sold at an average price of $138.61, for a total transaction of $52,382,243.71. Following the completion of the transaction, the director owned 1,044,864 shares of the company’s stock, valued at approximately $144,828,599.04. This represents a 26.56% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.70% of the company’s stock.

Analyst Upgrades and Downgrades

FANG has been the topic of a number of recent research reports. Scotiabank restated an “outperform” rating on shares of Diamondback Energy in a report on Thursday, October 9th. Evercore ISI raised their target price on Diamondback Energy from $165.00 to $175.00 and gave the company an “outperform” rating in a report on Monday, October 6th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Diamondback Energy in a research report on Monday, December 29th. Mizuho set a $194.00 price objective on Diamondback Energy in a report on Friday, December 12th. Finally, Wall Street Zen downgraded Diamondback Energy from a “hold” rating to a “sell” rating in a research note on Saturday, December 27th. One investment analyst has rated the stock with a Strong Buy rating, twenty have given a Buy rating and one has assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Buy” and an average price target of $188.67.

Diamondback Energy 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.