Massachusetts Financial Services Co. MA Decreases Holdings in Diamondback Energy, Inc. (NASDAQ:FANG)

Massachusetts Financial Services Co. MA decreased its position in Diamondback Energy, Inc. (NASDAQ:FANG - Free Report) by 2.5% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 2,933,817 shares of the oil and natural gas company's stock after selling 73,782 shares during the quarter. Massachusetts Financial Services Co. MA owned 1.64% of Diamondback Energy worth $454,976,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also added to or reduced their stakes in the company. Partnership Wealth Management LLC bought a new stake in Diamondback Energy in the 4th quarter worth approximately $1,626,000. Avantax Advisory Services Inc. increased its stake in Diamondback Energy by 3.5% in the 4th quarter. Avantax Advisory Services Inc. now owns 5,004 shares of the oil and natural gas company's stock worth $776,000 after acquiring an additional 169 shares during the last quarter. Checchi Capital Advisers LLC boosted its holdings in shares of Diamondback Energy by 6.3% in the 4th quarter. Checchi Capital Advisers LLC now owns 2,557 shares of the oil and natural gas company's stock worth $397,000 after purchasing an additional 152 shares during the period. Gratus Capital LLC boosted its holdings in shares of Diamondback Energy by 0.5% in the 4th quarter. Gratus Capital LLC now owns 57,685 shares of the oil and natural gas company's stock worth $8,946,000 after purchasing an additional 273 shares during the period. Finally, Ieq Capital LLC boosted its holdings in shares of Diamondback Energy by 20.4% in the 4th quarter. Ieq Capital LLC now owns 7,615 shares of the oil and natural gas company's stock worth $1,181,000 after purchasing an additional 1,289 shares during the period. Institutional investors own 90.01% of the company's stock.

Insider Transactions at Diamondback Energy

In other news, VP Jere W. Thompson III sold 900 shares of the business's stock in a transaction on Friday, May 3rd. The stock was sold at an average price of $199.90, for a total value of $179,910.00. Following the completion of the transaction, the vice president now directly owns 7,585 shares of the company's stock, valued at approximately $1,516,241.50. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. In related news, VP Jere W. Thompson III sold 900 shares of the company's stock in a transaction dated Friday, May 3rd. The stock was sold at an average price of $199.90, for a total transaction of $179,910.00. Following the transaction, the vice president now directly owns 7,585 shares of the company's stock, valued at approximately $1,516,241.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CAO Teresa L. Dick sold 2,000 shares of the company's stock in a transaction dated Wednesday, March 20th. The shares were sold at an average price of $192.00, for a total value of $384,000.00. Following the transaction, the chief accounting officer now directly owns 96,523 shares in the company, valued at $18,532,416. The disclosure for this sale can be found here. In the last three months, insiders sold 58,575 shares of company stock valued at $11,491,006. Corporate insiders own 0.43% of the company's stock.

Analyst Upgrades and Downgrades

FANG has been the subject of a number of recent research reports. Barclays initiated coverage on Diamondback Energy in a report on Wednesday, April 10th. They issued an "equal weight" rating and a $214.00 target price for the company. Stifel Nicolaus lifted their target price on Diamondback Energy from $224.00 to $229.00 and gave the stock a "buy" rating in a report on Tuesday, April 23rd. Royal Bank of Canada lifted their target price on Diamondback Energy from $195.00 to $220.00 and gave the stock an "outperform" rating in a report on Monday, May 6th. Truist Financial lifted their target price on Diamondback Energy from $248.00 to $250.00 and gave the stock a "buy" rating in a report on Monday, April 22nd. Finally, KeyCorp boosted their price objective on Diamondback Energy from $210.00 to $225.00 and gave the company an "overweight" rating in a report on Monday, April 22nd. One investment analyst has rated the stock with a sell rating, four have issued a hold rating, fourteen have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of $205.95.

Diamondback Energy Stock Down 1.4 %

Shares of FANG stock traded down $2.72 during mid-day trading on Tuesday, hitting $198.05. The stock had a trading volume of 1,474,612 shares, compared to its average volume of 1,722,250. Diamondback Energy, Inc. has a 12-month low of $123.41 and a 12-month high of $211.96. The firm has a market capitalization of $35.32 billion, a P/E ratio of 11.16 and a beta of 1.91. The firm's 50-day moving average is $198.22 and its two-hundred day moving average is $172.44. The company has a debt-to-equity ratio of 0.37, a current ratio of 0.92 and a quick ratio of 0.89.

Diamondback Energy (NASDAQ:FANG - Get Free Report) last released its quarterly earnings results on Tuesday, April 30th. The oil and natural gas company reported $4.50 EPS for the quarter, topping the consensus estimate of $4.29 by $0.21. The firm had revenue of $2.23 billion during the quarter, compared to analyst estimates of $2.10 billion. Diamondback Energy had a return on equity of 19.36% and a net margin of 36.71%. The business's revenue for the quarter was up 15.7% compared to the same quarter last year. During the same period in the previous year, the company posted $4.10 EPS. On average, analysts predict that Diamondback Energy, Inc. will post 18.98 earnings per share for the current fiscal year.

Diamondback Energy Cuts Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, May 22nd. Stockholders of record on Wednesday, May 15th will be given a $0.90 dividend. This represents a $3.60 annualized dividend and a dividend yield of 1.82%. The ex-dividend date of this dividend is Tuesday, May 14th. Diamondback Energy's payout ratio is 20.29%.

Diamondback Energy 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.