Diamondback Energy, Inc. $FANG Shares Sold by Northwestern Mutual Wealth Management Co.

Key Points

• Northwestern Mutual Wealth Management Co. reduced its position in Diamondback Energy, Inc. by 38.8%, selling 17,112 shares, bringing its total holdings to 26,952 shares valued at approximately $4.3 million.
• Diamondback Energy reported a quarterly EPS of $2.67, missing analysts' estimates, although revenue increased by 48.1% year-over-year, totaling $3.68 billion.
• The company recently declared a quarterly dividend of $1.00 per share, resulting in an annualized dividend of $4.00 and a yield of 2.7%.

Northwestern Mutual Wealth Management Co. cut its position in shares of Diamondback Energy, Inc. (NASDAQ:FANG - Free Report) by 38.8% in the 1st quarter, according to the company in its most recent disclosure with the SEC. The fund owned 26,952 shares of the oil and natural gas company's stock after selling 17,112 shares during the quarter. Northwestern Mutual Wealth Management Co.'s holdings in Diamondback Energy were worth $4,309,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. AlphaQuest LLC raised its holdings in Diamondback Energy by 30.6% during the first quarter. AlphaQuest LLC now owns 3,271 shares of the oil and natural gas company's stock worth $523,000 after purchasing an additional 766 shares during the last quarter. Allstate Corp raised its holdings in shares of Diamondback Energy by 89.2% in the first quarter. Allstate Corp now owns 10,105 shares of the oil and natural gas company's stock worth $1,616,000 after acquiring an additional 4,764 shares during the last quarter. Laffer Tengler Investments Inc. raised its holdings in shares of Diamondback Energy by 13.4% in the first quarter. Laffer Tengler Investments Inc. now owns 15,882 shares of the oil and natural gas company's stock worth $2,539,000 after acquiring an additional 1,875 shares during the last quarter. RPG Investment Advisory LLC raised its holdings in shares of Diamondback Energy by 100.7% in the first quarter. RPG Investment Advisory LLC now owns 150,013 shares of the oil and natural gas company's stock worth $23,984,000 after acquiring an additional 75,257 shares during the last quarter. Finally, Monetary Management Group Inc. raised its holdings in shares of Diamondback Energy by 40.6% in the first quarter. Monetary Management Group Inc. now owns 2,250 shares of the oil and natural gas company's stock worth $360,000 after acquiring an additional 650 shares during the last quarter. 90.01% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Diamondback Energy

In other Diamondback Energy news, Chairman Travis D. Stice sold 20,400 shares of the business's stock in a transaction dated 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 sale, the chairman owned 102,145 shares of the company's stock, valued at approximately $14,586,306. The trade was a 16.65% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 0.70% of the company's stock.

Diamondback Energy Price Performance

Shares of NASDAQ:FANG opened at $147.06 on Thursday. The company has a market cap of $42.57 billion, a P/E ratio of 10.45 and a beta of 1.09. The company has a quick ratio of 0.52, a current ratio of 0.55 and a debt-to-equity ratio of 0.35. Diamondback Energy, Inc. has a 52 week low of $114.00 and a 52 week high of $200.47. The business has a fifty day simple moving average of $142.46 and a 200-day simple moving average of $143.48.

Diamondback Energy (NASDAQ:FANG - Get Free Report) last posted its quarterly earnings results 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 firm had revenue of $3.68 billion for the quarter, compared to analysts' expectations of $3.35 billion. During the same period last year, the firm posted $4.52 EPS. Diamondback Energy's revenue was up 48.1% on a year-over-year basis. Equities research analysts forecast that Diamondback Energy, Inc. will post 15.49 EPS for the current year.

Diamondback Energy Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, August 21st. Shareholders of record on Thursday, August 14th were given a dividend of $1.00 per share. This represents a $4.00 dividend on an annualized basis and a yield of 2.7%. The ex-dividend date of this dividend was Thursday, August 14th. Diamondback Energy's payout ratio is 28.43%.

Wall Street Analysts Forecast Growth

FANG has been the subject of a number of analyst reports. Melius initiated coverage on Diamondback Energy in a report on Wednesday, August 20th. They issued a "buy" rating and a $213.00 price target for the company. Scotiabank reissued an "outperform" rating on shares of Diamondback Energy in a report on Friday, July 11th. Mizuho cut their price target on Diamondback Energy from $186.00 to $179.00 and set an "outperform" rating for the company in a report on Tuesday, May 13th. Evercore ISI initiated coverage on Diamondback Energy in a report on Tuesday, May 6th. They issued an "outperform" rating and a $165.00 price target for the company. Finally, JPMorgan Chase & Co. cut their price target on Diamondback Energy from $167.00 to $161.00 and set an "overweight" rating for the company in a report on Wednesday, May 7th. Two research analysts have rated the stock with a Strong Buy rating, twenty-one have assigned a Buy rating and one has given a Hold rating to the company. According to data from MarketBeat, Diamondback Energy presently has an average rating of "Buy" and a consensus target price of $193.33.

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.

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