Nuveen Asset Management LLC Trims Holdings in Diamondback Energy, Inc. (NASDAQ:FANG)

Nuveen Asset Management LLC trimmed its position in Diamondback Energy, Inc. (NASDAQ:FANG) by 27.6% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,836,945 shares of the oil and natural gas company’s stock after selling 1,078,946 shares during the period. Nuveen Asset Management LLC owned about 0.97% of Diamondback Energy worth $464,777,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Lakewood Asset Management LLC lifted its holdings in Diamondback Energy by 0.5% in the 4th quarter. Lakewood Asset Management LLC now owns 11,340 shares of the oil and natural gas company’s stock valued at $1,858,000 after purchasing an additional 60 shares in the last quarter. Magnolia Capital Advisors LLC lifted its holdings in Diamondback Energy by 2.0% in the 4th quarter. Magnolia Capital Advisors LLC now owns 3,247 shares of the oil and natural gas company’s stock valued at $532,000 after purchasing an additional 64 shares in the last quarter. Barden Capital Management Inc. lifted its holdings in shares of Diamondback Energy by 1.5% during the 4th quarter. Barden Capital Management Inc. now owns 4,380 shares of the oil and natural gas company’s stock worth $718,000 after acquiring an additional 64 shares during the period. Greenleaf Trust lifted its holdings in shares of Diamondback Energy by 1.0% during the 4th quarter. Greenleaf Trust now owns 6,892 shares of the oil and natural gas company’s stock worth $1,129,000 after acquiring an additional 66 shares during the period. Finally, Buckhead Capital Management LLC lifted its holdings in shares of Diamondback Energy by 0.3% during the 4th quarter. Buckhead Capital Management LLC now owns 19,830 shares of the oil and natural gas company’s stock worth $3,249,000 after acquiring an additional 67 shares during the period. 90.01% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

FANG has been the topic of several recent analyst reports. Piper Sandler cut their price objective on shares of Diamondback Energy from $234.00 to $225.00 and set an “overweight” rating on the stock in a report on Tuesday. Truist Financial increased their price objective on shares of Diamondback Energy from $238.00 to $242.00 and gave the stock a “buy” rating in a report on Thursday, April 17th. Evercore ISI initiated coverage on shares of Diamondback Energy in a report on Tuesday, May 6th. They set an “outperform” rating and a $165.00 price objective on the stock. UBS Group cut their price objective on shares of Diamondback Energy from $175.00 to $163.00 and set a “buy” rating on the stock in a report on Thursday, April 17th. Finally, Wells Fargo & Company cut their price objective on shares of Diamondback Energy from $215.00 to $207.00 and set an “overweight” rating on the stock in a report on Monday, April 21st. Two research analysts have rated the stock with a hold rating, nineteen have given a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat, Diamondback Energy has a consensus rating of “Buy” and an average price target of $194.09.

Diamondback Energy Stock Down 0.9%

Shares of NASDAQ:FANG opened at $144.82 on Thursday. The company has a quick ratio of 0.42, a current ratio of 0.45 and a debt-to-equity ratio of 0.31. Diamondback Energy, Inc. has a 52-week low of $114.00 and a 52-week high of $214.50. The company has a 50 day moving average of $141.29 and a two-hundred day moving average of $158.61. The company has a market capitalization of $42.31 billion, a price-to-earnings ratio of 8.29, a price-to-earnings-growth ratio of 1.24 and a beta of 1.06.

Diamondback Energy (NASDAQ:FANG) last issued its quarterly earnings data on Monday, May 5th. The oil and natural gas company reported $4.54 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.67 by $0.87. Diamondback Energy had a net margin of 33.64% and a return on equity of 13.68%. The company had revenue of $4.05 billion during the quarter, compared to the consensus estimate of $3.58 billion. During the same quarter last year, the company earned $4.50 earnings per share. Diamondback Energy’s revenue for the quarter was up 81.8% on a year-over-year basis. As a group, analysts forecast that Diamondback Energy, Inc. will post 15.49 earnings per share for the current fiscal year.

Diamondback Energy Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, May 22nd. Shareholders of record on Thursday, May 15th will be given a $1.00 dividend. This represents a $4.00 annualized dividend and a yield of 2.76%. The ex-dividend date is Thursday, May 15th. Diamondback Energy’s dividend payout ratio (DPR) is 24.46%.

Insider Buying and Selling at Diamondback Energy

In other Diamondback Energy news, Director Frank D. Tsuru bought 2,000 shares of Diamondback Energy stock in a transaction dated Friday, February 28th. The stock was bought at an average cost of $156.51 per share, for a total transaction of $313,020.00. Following the purchase, the director now owns 5,730 shares in the company, valued at $896,802.30. This represents a 53.62% increase in their position. The purchase was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, President Hof Matthew Kaes Van’t sold 10,000 shares of the stock in a transaction that occurred on Monday, May 12th. The shares were sold at an average price of $142.69, for a total value of $1,426,900.00. Following the transaction, the president now owns 120,645 shares of the company’s stock, valued at approximately $17,214,835.05. This trade represents a 7.65% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.70% of the stock is owned by corporate insiders.

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.