Northwestern Mutual Wealth Management Co. Sells 5,007 Shares of Diamondback Energy, Inc. $FANG

Key Points

• Northwestern Mutual Wealth Management reduced its Diamondback Energy stake by 18.9%, selling 5,007 shares and retaining 21,510 shares valued at approximately $3.78 million. Institutional investors collectively own 90.01% of FANG.
• Analysts remain generally bullish, with Diamondback Energy receiving a consensus “Moderate Buy” rating and an average price target of $222.21, despite some target adjustments.
• Diamondback reported strong quarterly results, earning $6.48 per share on $5.56 billion in revenue, exceeding estimates and representing 51.2% year-over-year revenue growth. The company also pays a quarterly dividend of $1.10, equivalent to a 2.2% annualized yield.

Northwestern Mutual Wealth Management Co. decreased its holdings in shares of Diamondback Energy, Inc. (NASDAQ:FANG - Free Report) by 18.9% during the second quarter, according to its most recent filing with the SEC. The firm owned 21,510 shares of the oil and natural gas company's stock after selling 5,007 shares during the period. Northwestern Mutual Wealth Management Co.'s holdings in Diamondback Energy were worth $3,781,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of the business. Hsbc Holdings PLC raised its position in shares of Diamondback Energy by 16.3% in the 4th quarter. Hsbc Holdings PLC now owns 338,577 shares of the oil and natural gas company's stock worth $50,890,000 after acquiring an additional 47,450 shares in the last quarter. Guinness Asset Management LTD boosted its position in Diamondback Energy by 12.0% during the fourth quarter. Guinness Asset Management LTD now owns 54,132 shares of the oil and natural gas company's stock valued at $8,042,000 after purchasing an additional 5,816 shares in the last quarter. Peterson Wealth Services grew its stake in Diamondback Energy by 174.2% in the fourth quarter. Peterson Wealth Services now owns 23,973 shares of the oil and natural gas company's stock valued at $3,604,000 after purchasing an additional 15,229 shares during the last quarter. National Pension Service grew its stake in Diamondback Energy by 7.7% in the fourth quarter. National Pension Service now owns 381,710 shares of the oil and natural gas company's stock valued at $57,382,000 after purchasing an additional 27,229 shares during the last quarter. Finally, EverSource Wealth Advisors LLC raised its holdings in Diamondback Energy by 11.5% in the fourth quarter. EverSource Wealth Advisors LLC now owns 67,977 shares of the oil and natural gas company's stock worth $10,219,000 after purchasing an additional 6,992 shares in the last quarter. Institutional investors own 90.01% of the company's stock.

Analyst Ratings Changes

Several research firms have commented on FANG. Barclays decreased their price target on shares of Diamondback Energy from $232.00 to $221.00 and set an "overweight" rating for the company in a research report on Monday, August 17th. Susquehanna boosted their price objective on shares of Diamondback Energy from $245.00 to $255.00 and gave the stock a "positive" rating in a research note on Tuesday, July 21st. Truist Financial increased their target price on shares of Diamondback Energy from $220.00 to $224.00 and gave the company a "buy" rating in a research report on Wednesday, August 5th. Roth Capital set a $212.00 target price on shares of Diamondback Energy and gave the company a "buy" rating in a research note on Monday, June 22nd. Finally, Wolfe Research reaffirmed an "outperform" rating and issued a $206.00 price target on shares of Diamondback Energy in a report on Tuesday, August 4th. Four analysts have rated the stock with a Strong Buy rating, fifteen have given a Buy rating and five have issued a Hold rating to the stock. Based on data from MarketBeat, Diamondback Energy currently has an average rating of "Moderate Buy" and a consensus target price of $222.21.

Diamondback Energy Stock Down 0.2%

FANG stock opened at $202.94 on Friday. The stock has a market capitalization of $56.83 billion, a PE ratio of 39.56 and a beta of 0.43. Diamondback Energy, Inc. has a 52 week low of $134.30 and a 52 week high of $216.90. The company has a quick ratio of 0.45, a current ratio of 0.47 and a debt-to-equity ratio of 0.25. The firm has a 50 day moving average of $194.61 and a 200 day moving average of $191.65.

Diamondback Energy (NASDAQ:FANG - Get Free Report) last posted its quarterly earnings results on Monday, August 3rd. The oil and natural gas company reported $6.48 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $6.08 by $0.40. Diamondback Energy had a net margin of 8.58% and a return on equity of 10.10%. The business had revenue of $5.56 billion during the quarter, compared to analysts' expectations of $4.89 billion. During the same quarter last year, the company posted $2.38 earnings per share. The business's quarterly revenue was up 51.2% on a year-over-year basis. Sell-side analysts forecast that Diamondback Energy, Inc. will post 20.13 earnings per share for the current year.

Diamondback Energy Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, August 20th. Investors of record on Thursday, August 13th were paid a $1.10 dividend. The ex-dividend date was Thursday, August 13th. This represents a $4.40 dividend on an annualized basis and a yield of 2.2%. Diamondback Energy's dividend payout ratio (DPR) is 85.77%.

Insiders Place Their Bets

In other Diamondback Energy news, Director Mark Lawrence Plaumann sold 500 shares of Diamondback Energy stock in a transaction dated Tuesday, June 9th. The stock was sold at an average price of $196.50, for a total transaction of $98,250.00. Following the completion of the sale, the director owned 13,437 shares of the company's stock, valued at approximately $2,640,370.50. The trade was a 3.59% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Charles Meloy sold 83,334 shares of the business's stock in a transaction dated Tuesday, June 16th. The shares were sold at an average price of $187.12, for a total value of $15,593,458.08. Following the sale, the director owned 851,530 shares in the company, valued at approximately $159,338,293.60. The trade was a 8.91% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 117,167 shares of company stock valued at $22,305,309 in the last 90 days. 0.64% of the stock is currently owned by company insiders.

Diamondback Energy Company Profile

Diamondback Energy, Inc NASDAQ: FANG is an independent oil and natural gas company focused on the development, exploration and production of unconventional resources in the Permian Basin. Headquartered in Midland, Texas, the company concentrates its operations in the core Midland and Delaware sub‑basins of West Texas and southeastern New Mexico, where it pursues contiguous acreage positions to support repeatable drilling programs.

Diamondback's activities span the upstream value chain, including leasehold acquisition, well planning, drilling, completion and production optimization.

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