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

Nuveen Asset Management LLC cut its position in shares of Diamondback Energy, Inc. (NASDAQ:FANG) by 27.6% during the 4th quarter, HoldingsChannel.com reports. The firm 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’s holdings in Diamondback Energy were worth $464,777,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also recently added to or reduced their stakes in the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake in Diamondback Energy by 81.5% during the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 225,395 shares of the oil and natural gas company’s stock worth $36,926,000 after purchasing an additional 101,211 shares during the last quarter. LRI Investments LLC lifted its stake in Diamondback Energy by 1.8% during the fourth quarter. LRI Investments LLC now owns 17,498 shares of the oil and natural gas company’s stock worth $2,867,000 after purchasing an additional 305 shares during the last quarter. Interval Partners LP bought a new position in Diamondback Energy during the fourth quarter worth $4,568,000. Investment Management Corp of Ontario lifted its stake in Diamondback Energy by 13.4% during the fourth quarter. Investment Management Corp of Ontario now owns 10,030 shares of the oil and natural gas company’s stock worth $1,643,000 after purchasing an additional 1,189 shares during the last quarter. Finally, Investor s Fiduciary Advisor Network LLC bought a new position in Diamondback Energy during the fourth quarter worth $570,000. 90.01% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on the company. Royal Bank of Canada assumed coverage on Diamondback Energy in a research note on Friday, May 2nd. They set an “outperform” rating and a $180.00 price objective on the stock. Truist Financial raised their target price on Diamondback Energy from $238.00 to $242.00 and gave the company a “buy” rating in a research note on Thursday, April 17th. Wells Fargo & Company cut their target price on Diamondback Energy from $215.00 to $207.00 and set an “overweight” rating on the stock in a research note on Monday, April 21st. Raymond James cut their target price on Diamondback Energy from $245.00 to $214.00 and set a “strong-buy” rating on the stock in a research note on Wednesday, March 12th. Finally, Susquehanna cut their target price on Diamondback Energy from $219.00 to $194.00 and set a “positive” rating on the stock in a research note on Tuesday, April 22nd. Two equities research analysts have rated the stock with a hold rating, nineteen have assigned a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Buy” and a consensus price target of $194.09.

Diamondback Energy Stock Down 0.9%

Diamondback Energy stock opened at $144.82 on Thursday. The stock has a market cap of $42.31 billion, a price-to-earnings ratio of 8.29, a PEG ratio of 1.24 and a beta of 1.06. The company has a current ratio of 0.45, a quick ratio of 0.42 and a debt-to-equity ratio of 0.31. The company’s 50-day moving average price is $141.29 and its two-hundred day moving average price is $158.61. Diamondback Energy, Inc. has a 52 week low of $114.00 and a 52 week high of $214.50.

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

Diamondback Energy Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, May 22nd. Shareholders of record on Thursday, May 15th will be paid a dividend of $1.00 per share. The ex-dividend date of this dividend is Thursday, May 15th. This represents a $4.00 annualized dividend and a yield of 2.76%. Diamondback Energy’s payout ratio is 24.46%.

Insider Buying and Selling at Diamondback Energy

In other news, President Hof Matthew Kaes Van’t sold 10,000 shares of Diamondback Energy 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 $17,214,835.05. The trade was a 7.65% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Frank D. Tsuru acquired 2,000 shares of the stock in a transaction dated Friday, February 28th. The stock was acquired at an average cost of $156.51 per share, for a total transaction of $313,020.00. Following the purchase, the director now directly owns 5,730 shares in the company, valued at approximately $896,802.30. The trade was a 53.62% increase in their ownership of the stock. The disclosure for this purchase 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.