Ameriprise Financial Inc. Has $110.98 Million Holdings in Diamondback Energy, Inc. $FANG

Key Points

• Ameriprise Financial Inc. has reduced its stake in Diamondback Energy by 28.4%, selling 275,370 shares to hold a total of 694,145 shares valued at approximately $110.98 million.
• Chairman Travis D. Stice sold 20,400 shares of Diamondback Energy for $2.91 million, marking a 16.65% decrease in his holdings.
• Analysts have mixed opinions on Diamondback Energy, with **consensus ratings** showing two "Strong Buy" ratings while the company recently saw its earnings fall short of estimates, reporting $2.67 EPS compared to a projected $2.72 EPS.

Ameriprise Financial Inc. trimmed its holdings in Diamondback Energy, Inc. (NASDAQ:FANG - Free Report) by 28.4% in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 694,145 shares of the oil and natural gas company's stock after selling 275,370 shares during the period. Ameriprise Financial Inc. owned 0.24% of Diamondback Energy worth $110,980,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Robeco Institutional Asset Management B.V. grew its holdings in Diamondback Energy by 4.0% during the first quarter. Robeco Institutional Asset Management B.V. now owns 36,177 shares of the oil and natural gas company's stock valued at $5,784,000 after purchasing an additional 1,384 shares during the last quarter. Oppenheimer Asset Management Inc. grew its stake in Diamondback Energy by 6.3% in the 1st quarter. Oppenheimer Asset Management Inc. now owns 58,853 shares of the oil and natural gas company's stock valued at $9,409,000 after buying an additional 3,467 shares during the last quarter. China Universal Asset Management Co. Ltd. raised its holdings in Diamondback Energy by 50.4% in the 1st quarter. China Universal Asset Management Co. Ltd. now owns 7,149 shares of the oil and natural gas company's stock worth $1,143,000 after acquiring an additional 2,397 shares during the period. True North Advisors LLC bought a new position in Diamondback Energy in the 1st quarter worth $327,000. Finally, Wealth Advisory Solutions LLC acquired a new position in Diamondback Energy during the 1st quarter worth $2,631,000. 90.01% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Diamondback Energy news, Chairman Travis D. Stice sold 20,400 shares of the stock in a transaction on Thursday, August 7th. The stock was sold at an average price of $142.80, for a total transaction of $2,913,120.00. Following the completion of the transaction, the chairman directly owned 102,145 shares in the company, valued at $14,586,306. This represents a 16.65% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 0.70% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on FANG shares. Wall Street Zen downgraded Diamondback Energy from a "hold" rating to a "sell" rating in a research report on Saturday, August 9th. JPMorgan Chase & Co. lowered their target price on Diamondback Energy from $167.00 to $161.00 and set an "overweight" rating on the stock in a report on Wednesday, May 7th. William Blair started coverage on Diamondback Energy in a report on Monday. They set an "outperform" rating for the company. Melius Research began coverage on Diamondback Energy in a research report on Wednesday, August 20th. They issued a "buy" rating and a $213.00 price objective for the company. Finally, Piper Sandler lowered their price objective on shares of Diamondback Energy from $228.00 to $222.00 and set an "overweight" rating on the stock in a research note on Thursday, August 14th. Two research analysts have rated the stock with a Strong Buy rating, twenty-one have assigned a Buy rating and one has assigned a Hold rating to the stock. According to MarketBeat.com, Diamondback Energy presently has an average rating of "Buy" and an average target price of $193.33.

Diamondback Energy Price Performance

NASDAQ FANG traded down $0.64 on Friday, reaching $148.53. The company's stock had a trading volume of 428,452 shares, compared to its average volume of 2,400,622. The firm has a market cap of $43.00 billion, a PE ratio of 10.56 and a beta of 1.09. The business has a 50-day moving average price of $142.47 and a 200 day moving average price of $143.39. Diamondback Energy, Inc. has a 52 week low of $114.00 and a 52 week high of $200.47. 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 (NASDAQ:FANG - Get Free Report) last announced its quarterly earnings results 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 business had revenue of $3.68 billion for the quarter, compared to the consensus estimate of $3.35 billion. During the same quarter in the prior year, the business earned $4.52 EPS. The firm's revenue for the quarter was up 48.1% on a year-over-year basis. Sell-side analysts expect that Diamondback Energy, Inc. will post 15.49 EPS for the current year.

Diamondback Energy Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, August 21st. Investors of record on Thursday, August 14th were paid a $1.00 dividend. The ex-dividend date of this dividend was Thursday, August 14th. This represents a $4.00 annualized dividend and a yield of 2.7%. Diamondback Energy's payout ratio is currently 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.