Securian Asset Management Inc. Lowers Stock Holdings in Diamondback Energy, Inc. $FANG

Securian Asset Management Inc. trimmed its holdings in shares of Diamondback Energy, Inc. (NASDAQ:FANG) by 1.2% in the 2nd quarter, Holdings Channel.com reports. The firm owned 9,720 shares of the oil and natural gas company’s stock after selling 122 shares during the period. Securian Asset Management Inc.’s holdings in Diamondback Energy were worth $1,336,000 as of its most recent SEC filing.

Several other large investors have also recently made changes to their positions in the business. BankPlus Trust Department purchased a new position in Diamondback Energy in the 1st quarter worth approximately $27,000. Pinnacle Bancorp Inc. raised its holdings in Diamondback Energy by 95.7% in the 1st quarter. Pinnacle Bancorp Inc. now owns 180 shares of the oil and natural gas company’s stock worth $29,000 after acquiring an additional 88 shares during the last quarter. SouthState Corp raised its holdings in Diamondback Energy by 596.4% in the 1st quarter. SouthState Corp now owns 195 shares of the oil and natural gas company’s stock worth $31,000 after acquiring an additional 167 shares during the last quarter. WASHINGTON TRUST Co raised its holdings in Diamondback Energy by 119.8% in the 1st quarter. WASHINGTON TRUST Co now owns 200 shares of the oil and natural gas company’s stock worth $32,000 after acquiring an additional 109 shares during the last quarter. Finally, Financial Gravity Asset Management Inc. purchased a new position in Diamondback Energy in the 1st quarter worth approximately $33,000. 90.01% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other news, Chairman Travis D. Stice sold 20,400 shares of the business’s stock in a transaction on Thursday, August 7th. The shares were sold at an average price of $142.80, for a total transaction of $2,913,120.00. Following the completion of the sale, the chairman owned 102,145 shares of the company’s stock, valued at $14,586,306. The trade was a 16.65% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. 0.70% of the stock is currently owned by insiders.

Diamondback Energy Trading Up 0.5%

NASDAQ:FANG opened at $142.28 on Thursday. The company has a current ratio of 0.55, a quick ratio of 0.52 and a debt-to-equity ratio of 0.35. Diamondback Energy, Inc. has a 12 month low of $114.00 and a 12 month high of $186.07. The company has a market cap of $41.19 billion, a PE ratio of 10.11 and a beta of 1.04. The company has a 50 day simple moving average of $142.37 and a two-hundred day simple moving average of $140.50.

Diamondback Energy (NASDAQ:FANG) last issued its quarterly earnings data on Monday, August 4th. The oil and natural gas company reported $2.67 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.72 by ($0.05). Diamondback Energy had a net margin of 27.25% and a return on equity of 9.48%. The business had revenue of $3.68 billion for the quarter, compared to the consensus estimate of $3.35 billion. During the same period in the previous year, the firm earned $4.52 EPS. The company’s revenue was up 48.1% on a year-over-year basis. Research analysts forecast that Diamondback Energy, Inc. will post 15.49 earnings per share for the current year.

Diamondback Energy Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, August 21st. Stockholders of record on Thursday, August 14th were given a dividend of $1.00 per share. The ex-dividend date of this dividend was Thursday, August 14th. This represents a $4.00 dividend on an annualized basis and a dividend yield of 2.8%. Diamondback Energy’s payout ratio is presently 28.43%.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on the stock. KeyCorp decreased their price objective on shares of Diamondback Energy from $180.00 to $176.00 and set an “overweight” rating for the company in a report on Wednesday, September 3rd. Evercore ISI boosted their price objective on shares of Diamondback Energy from $165.00 to $175.00 and gave the stock an “outperform” rating in a report on Monday, October 6th. Royal Bank Of Canada restated an “outperform” rating and issued a $173.00 price objective on shares of Diamondback Energy in a report on Friday, October 10th. Piper Sandler decreased their price objective on shares of Diamondback Energy from $228.00 to $222.00 and set an “overweight” rating for the company in a report on Thursday, August 14th. Finally, UBS Group lifted their target price on shares of Diamondback Energy from $163.00 to $171.00 and gave the stock a “buy” rating in a research report on Wednesday, August 20th. Two equities research analysts have rated the stock with a Strong Buy rating, twenty have given a Buy rating and one has assigned a Hold rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Buy” and a consensus price target of $189.91.

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.