1,438,824 Shares in Diamondback Energy, Inc. (NASDAQ:FANG) Purchased by Nuveen LLC

Nuveen LLC acquired a new position in Diamondback Energy, Inc. (NASDAQ:FANG) in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor acquired 1,438,824 shares of the oil and natural gas company’s stock, valued at approximately $230,039,000. Nuveen LLC owned 0.49% of Diamondback Energy as of its most recent SEC filing.

Several other institutional investors have also bought and sold shares of the stock. Price T Rowe Associates Inc. MD lifted its holdings in Diamondback Energy by 11.3% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 9,136,645 shares of the oil and natural gas company’s stock worth $1,496,859,000 after purchasing an additional 928,429 shares during the period. Bank of New York Mellon Corp raised its holdings in Diamondback Energy by 2.3% during the 1st quarter. Bank of New York Mellon Corp now owns 4,257,247 shares of the oil and natural gas company’s stock worth $680,649,000 after buying an additional 94,177 shares during the period. Demars Financial Group LLC raised its holdings in Diamondback Energy by 5.3% during the 1st quarter. Demars Financial Group LLC now owns 4,102,785 shares of the oil and natural gas company’s stock worth $655,953,000 after buying an additional 208,200 shares during the period. Diamond Hill Capital Management Inc. raised its holdings in Diamondback Energy by 4.1% during the 1st quarter. Diamond Hill Capital Management Inc. now owns 2,932,484 shares of the oil and natural gas company’s stock worth $468,846,000 after buying an additional 114,930 shares during the period. Finally, Northern Trust Corp raised its holdings in Diamondback Energy by 11.7% during the 4th quarter. Northern Trust Corp now owns 2,092,919 shares of the oil and natural gas company’s stock worth $342,883,000 after buying an additional 219,173 shares during the period. Institutional investors and hedge funds own 90.01% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on FANG shares. Piper Sandler boosted their price objective on Diamondback Energy from $225.00 to $228.00 and gave the stock an “overweight” rating in a report on Thursday, July 17th. Wells Fargo & Company boosted their price objective on Diamondback Energy from $207.00 to $208.00 and gave the stock an “overweight” rating in a report on Monday, June 16th. Susquehanna cut their price objective on Diamondback Energy from $192.00 to $188.00 and set a “positive” rating on the stock in a report on Wednesday, July 23rd. Evercore ISI started coverage on Diamondback Energy in a report on Tuesday, May 6th. They set an “outperform” rating and a $165.00 price objective on the stock. Finally, Wall Street Zen downgraded Diamondback Energy from a “hold” rating to a “sell” rating in a report on Saturday. One investment analyst has rated the stock with a sell rating, one has given a hold rating, eighteen have given a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $191.59.

Diamondback Energy Trading Up 0.6%

NASDAQ:FANG opened at $142.03 on Monday. The stock’s 50 day moving average price is $143.67 and its 200 day moving average price is $145.51. Diamondback Energy, Inc. has a 52 week low of $114.00 and a 52 week high of $202.87. The company has a market capitalization of $41.12 billion, a P/E ratio of 10.09 and a beta of 1.09. The company has a debt-to-equity ratio of 0.35, a quick ratio of 0.52 and a current ratio of 0.55.

Diamondback Energy (NASDAQ:FANG) last released its quarterly earnings data on Monday, August 4th. The oil and natural gas company reported $2.67 EPS for the quarter, missing analysts’ consensus estimates of $2.72 by ($0.05). Diamondback Energy had a return on equity of 9.48% and a net margin of 27.25%. The firm had revenue of $3.68 billion during the quarter, compared to analyst estimates of $3.35 billion. During the same quarter in the prior year, the company posted $4.52 EPS. The company’s quarterly revenue was up 48.1% on a year-over-year basis. On average, research analysts forecast 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, August 21st. Shareholders of record on Thursday, August 14th will be given a dividend of $1.00 per share. The ex-dividend date of this dividend is Thursday, August 14th. This represents a $4.00 dividend on an annualized basis and a yield of 2.8%. Diamondback Energy’s dividend payout ratio is presently 28.43%.

Diamondback Energy Company 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.