Diamondback Energy, Inc. (NASDAQ:FANG) Shares Purchased by Epoch Investment Partners Inc.

Epoch Investment Partners Inc. boosted its holdings in shares of Diamondback Energy, Inc. (NASDAQ:FANG) by 57.6% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 122,372 shares of the oil and natural gas company’s stock after acquiring an additional 44,729 shares during the period. Epoch Investment Partners Inc. owned about 0.07% of Diamondback Energy worth $24,498,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently modified their holdings of the business. Vanguard Group Inc. raised its position in shares of Diamondback Energy by 0.8% during the 4th quarter. Vanguard Group Inc. now owns 21,869,787 shares of the oil and natural gas company’s stock worth $3,391,567,000 after purchasing an additional 176,208 shares during the last quarter. Price T Rowe Associates Inc. MD increased its position in Diamondback Energy by 38.2% during the first quarter. Price T Rowe Associates Inc. MD now owns 8,609,143 shares of the oil and natural gas company’s stock worth $1,706,076,000 after buying an additional 2,381,488 shares in the last quarter. Bank of New York Mellon Corp raised its holdings in shares of Diamondback Energy by 16.0% in the second quarter. Bank of New York Mellon Corp now owns 3,012,329 shares of the oil and natural gas company’s stock worth $603,038,000 after acquiring an additional 415,902 shares during the last quarter. Boston Partners raised its holdings in shares of Diamondback Energy by 235.6% in the first quarter. Boston Partners now owns 2,730,482 shares of the oil and natural gas company’s stock worth $541,844,000 after acquiring an additional 1,916,900 shares during the last quarter. Finally, Massachusetts Financial Services Co. MA boosted its stake in shares of Diamondback Energy by 10.1% during the second quarter. Massachusetts Financial Services Co. MA now owns 2,690,181 shares of the oil and natural gas company’s stock valued at $538,547,000 after acquiring an additional 247,065 shares during the last quarter. Hedge funds and other institutional investors own 90.01% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on FANG. Susquehanna cut their target price on shares of Diamondback Energy from $245.00 to $237.00 and set a “positive” rating for the company in a research note on Wednesday, September 4th. Truist Financial boosted their price objective on shares of Diamondback Energy from $249.00 to $255.00 and gave the company a “buy” rating in a research report on Wednesday, August 7th. KeyCorp assumed coverage on shares of Diamondback Energy in a research report on Thursday, June 27th. They issued an “overweight” rating and a $225.00 target price on the stock. Benchmark reiterated a “buy” rating and issued a $154.00 price target on shares of Diamondback Energy in a report on Tuesday, August 6th. Finally, Piper Sandler dropped their price objective on Diamondback Energy from $249.00 to $240.00 and set an “overweight” rating for the company in a report on Thursday, August 15th. One analyst has rated the stock with a sell rating, seven have assigned a hold rating, fourteen have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $209.71.

Diamondback Energy Stock Performance

Shares of FANG opened at $181.00 on Monday. The stock has a market capitalization of $32.28 billion, a PE ratio of 10.20, a price-to-earnings-growth ratio of 1.06 and a beta of 1.89. The business’s fifty day moving average price is $192.28 and its 200 day moving average price is $195.78. The company has a debt-to-equity ratio of 0.65, a current ratio of 3.66 and a quick ratio of 3.64. Diamondback Energy, Inc. has a 12-month low of $143.08 and a 12-month high of $214.50.

Diamondback Energy (NASDAQ:FANG) last posted its quarterly earnings results on Monday, August 5th. The oil and natural gas company reported $4.52 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $4.51 by $0.01. Diamondback Energy had a net margin of 37.51% and a return on equity of 19.54%. The company had revenue of $2.48 billion for the quarter, compared to the consensus estimate of $2.19 billion. During the same period last year, the firm posted $3.68 EPS. The company’s revenue for the quarter was up 29.4% on a year-over-year basis. Equities research analysts forecast that Diamondback Energy, Inc. will post 19.08 EPS for the current year.

Diamondback Energy Increases Dividend

The business also recently announced a None dividend, which was paid on Thursday, August 22nd. Stockholders of record on Thursday, August 15th were issued a dividend of $2.34 per share. The ex-dividend date of this dividend was Thursday, August 15th. This is a positive change from Diamondback Energy’s previous None dividend of $2.26. This represents a dividend yield of 1.9%. Diamondback Energy’s dividend payout ratio is 20.29%.

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.