Evelyn Partners Investment Management LLP Boosts Stake in Diamondback Energy, Inc. $FANG

Evelyn Partners Investment Management LLP increased its holdings in shares of Diamondback Energy, Inc. (NASDAQ:FANG) by 852.9% during the second quarter, HoldingsChannel reports. The firm owned 2,430 shares of the oil and natural gas company’s stock after buying an additional 2,175 shares during the period. Evelyn Partners Investment Management LLP’s holdings in Diamondback Energy were worth $334,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors also recently modified their holdings of FANG. Y Intercept Hong Kong Ltd purchased a new position in Diamondback Energy in the 1st quarter worth about $292,000. AE Wealth Management LLC grew its stake in shares of Diamondback Energy by 16.2% in the first quarter. AE Wealth Management LLC now owns 25,783 shares of the oil and natural gas company’s stock worth $4,122,000 after acquiring an additional 3,594 shares during the period. Cetera Investment Advisers raised its holdings in shares of Diamondback Energy by 29.4% during the first quarter. Cetera Investment Advisers now owns 62,036 shares of the oil and natural gas company’s stock valued at $9,918,000 after purchasing an additional 14,084 shares during the last quarter. Assetmark Inc. lifted its position in Diamondback Energy by 6.0% during the first quarter. Assetmark Inc. now owns 224,547 shares of the oil and natural gas company’s stock valued at $35,901,000 after purchasing an additional 12,733 shares during the period. Finally, Equitable Trust Co. purchased a new stake in Diamondback Energy in the first quarter worth approximately $1,076,000. 90.01% of the stock is owned by hedge funds and other institutional investors.

Diamondback Energy Trading Up 0.1%

Shares of NASDAQ:FANG opened at $146.44 on Friday. The stock has a 50 day moving average of $143.49 and a 200 day moving average of $142.56. The company has a market cap of $41.96 billion, a PE ratio of 10.18 and a beta of 0.99. Diamondback Energy, Inc. has a 12-month low of $114.00 and a 12-month high of $186.07. The company has a current ratio of 0.62, a quick ratio of 0.60 and a debt-to-equity ratio of 0.35.

Diamondback Energy (NASDAQ:FANG) last released its earnings results on Monday, November 3rd. The oil and natural gas company reported $3.08 EPS for the quarter, topping analysts’ consensus estimates of $2.94 by $0.14. Diamondback Energy had a net margin of 27.32% and a return on equity of 9.57%. The company had revenue of $3.92 billion for the quarter, compared to analysts’ expectations of $3.48 billion. During the same quarter last year, the business earned $3.19 EPS. The firm’s revenue was up 48.4% compared to the same quarter last year. As a group, equities research analysts expect that Diamondback Energy, Inc. will post 15.49 EPS for the current year.

Diamondback Energy Dividend Announcement

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

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on FANG shares. Scotiabank reiterated an “outperform” rating on shares of Diamondback Energy in a research note on Thursday, October 9th. Barclays cut their price objective on Diamondback Energy from $185.00 to $178.00 and set an “overweight” rating for the company in a report on Tuesday, October 7th. Weiss Ratings reissued a “hold (c)” rating on shares of Diamondback Energy in a report on Wednesday. Melius Research began coverage on Diamondback Energy in a research note on Wednesday, August 20th. They set a “buy” rating and a $213.00 price target for the company. Finally, KeyCorp reduced their price target on shares of Diamondback Energy from $180.00 to $176.00 and set an “overweight” rating for the company in a research report on Wednesday, September 3rd. Two investment analysts have rated the stock with a Strong Buy rating, twenty have given a Buy rating and one has given a Hold rating to the stock. According to data from MarketBeat, Diamondback Energy currently has a consensus rating of “Buy” and a consensus target price of $188.77.

About Diamondback Energy

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.