Robeco Institutional Asset Management B.V. reduced its stake in Diamondback Energy, Inc. by 70.5% during the first quarter, according to its recent disclosure with the Securities and Exchange Commission. The firm sold 10,807 shares, leaving it with 4,512 shares worth $610,000 at the end of the reporting period.
Other hedge funds and institutional investors also made changes to their positions in Diamondback Energy. Ontario Teachers Pension Plan Board increased its stake by 11,878.0% in the fourth quarter, while Pacer Advisors Inc. raised its stake by 77.6% in the same period. Arrowstreet Capital Limited Partnership purchased a new position in the first quarter, and Advisory Research Inc. increased its stake by 303.9% in the fourth quarter. First Trust Advisors LP also raised its stake by 79.9% in the first quarter. Hedge funds and institutional investors now own 89.21% of the company’s stock.
Insider activity at Diamondback Energy includes CEO Travis D. Stice selling 11,600 shares of stock at an average price of $132.13. CEO Stice now holds 23,400 shares worth approximately $3,091,842. COO Daniel N. Wesson sold 3,000 shares at an average price of $132.51 and now holds 65,802 shares worth $8,719,423. Insiders in total sold 22,100 shares valued at $2,920,988 in the last three months.
Diamondback Energy’s stock increased by 0.1% and opened at $148.57 on Friday. The stock has a market capitalization of $26.91 billion, a P/E ratio of 7.71, and a beta of 2.03. The company has a debt-to-equity ratio of 0.40, a quick ratio of 0.58, and a current ratio of 0.43. The 50-day simple moving average is $134.56, and the 200-day simple moving average is $136.89.
Diamondback Energy recently reported its quarterly earnings, with $3.68 EPS for the quarter, missing the consensus estimate of $3.92. The company had revenue of $1.92 billion, falling short of analysts’ expectations of $1.90 billion. Diamondback Energy had a net margin of 41.62% and a return on equity of 22.43%. The company’s revenue for the quarter was down 30.7% compared to the same quarter last year. On average, analysts predict that Diamondback Energy, Inc. will post $16.81 earnings per share for the current fiscal year.
Additionally, Diamondback Energy announced an increase in its quarterly dividend. Shareholders of record on Thursday, August 10th will receive a $0.84 dividend, representing a positive change from the previous quarterly dividend of $0.80. The ex-dividend date is Wednesday, August 9th. Diamondback Energy’s dividend payout ratio (DPR) is currently 17.44%.
Several research analysts have given their recommendations for Diamondback Energy. UBS Group initiated coverage with a “buy” rating and a $177.00 price target. Benchmark also initiated coverage with a “buy” rating and a $154.00 target price. Mizuho dropped their target price to $174.00, while Wells Fargo & Company increased their target price to $163.00. Morgan Stanley dropped their target price to $154.00 and maintained an “overweight” rating.
