Diamondback Energy, Inc. $FANG Shares Sold by Northern Trust Corp

Northern Trust Corp lessened its stake in shares of Diamondback Energy, Inc. (NASDAQ:FANG) by 7.4% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,937,084 shares of the oil and natural gas company’s stock after selling 155,835 shares during the quarter. Northern Trust Corp’s holdings in Diamondback Energy were worth $309,701,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in FANG. Nuveen LLC acquired a new position in shares of Diamondback Energy in the 1st quarter worth approximately $230,039,000. Alyeska Investment Group L.P. purchased a new stake in Diamondback Energy in the fourth quarter valued at approximately $185,193,000. Price T Rowe Associates Inc. MD raised its position 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 valued at $1,496,859,000 after purchasing an additional 928,429 shares during the period. GAMMA Investing LLC lifted its stake in Diamondback Energy by 16,197.8% during the first quarter. GAMMA Investing LLC now owns 605,625 shares of the oil and natural gas company’s stock worth $96,827,000 after purchasing an additional 601,909 shares in the last quarter. Finally, Two Sigma Investments LP boosted its position in shares of Diamondback Energy by 5,748.3% during the fourth quarter. Two Sigma Investments LP now owns 448,624 shares of the oil and natural gas company’s stock worth $73,498,000 after buying an additional 440,953 shares during the period. 90.01% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on the company. Barclays cut their price objective on Diamondback Energy from $200.00 to $185.00 and set an “overweight” rating on the stock in a report on Wednesday, April 23rd. UBS Group boosted their price target on shares of Diamondback Energy from $163.00 to $171.00 and gave the stock a “buy” rating in a research note on Wednesday. Royal Bank Of Canada started coverage on shares of Diamondback Energy in a research report on Friday, May 2nd. They set an “outperform” rating and a $180.00 price target on the stock. Wall Street Zen lowered shares of Diamondback Energy from a “hold” rating to a “sell” rating in a research note on Saturday, August 9th. Finally, Piper Sandler cut their target price 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 have issued a Buy rating and one has issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, Diamondback Energy presently has an average rating of “Buy” and a consensus target price of $193.33.

Diamondback Energy Stock Performance

Shares of FANG opened at $137.87 on Thursday. Diamondback Energy, Inc. has a 1 year low of $114.00 and a 1 year high of $200.47. The stock has a market capitalization of $39.91 billion, a PE ratio of 9.80 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. The stock has a 50-day simple moving average of $143.25 and a 200-day simple moving average of $144.14.

Diamondback Energy (NASDAQ:FANG) last released its earnings results on Monday, August 4th. The oil and natural gas company reported $2.67 earnings per share 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 for the quarter, compared to analysts’ expectations of $3.35 billion. During the same quarter in the previous year, the company posted $4.52 earnings per share. The firm’s quarterly revenue was up 48.1% on a year-over-year basis. On average, analysts predict that Diamondback Energy, Inc. will post 15.49 earnings per share for the current fiscal year.

Diamondback Energy Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, August 21st. Stockholders of record on Thursday, August 14th will be issued a $1.00 dividend. This represents a $4.00 dividend on an annualized basis and a dividend yield of 2.9%. The ex-dividend date is Thursday, August 14th. Diamondback Energy’s dividend payout ratio (DPR) is presently 28.43%.

Insider Activity

In related 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 transaction, the chairman owned 102,145 shares in the company, valued at approximately $14,586,306. The trade was a 16.65% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Company insiders own 0.70% of the company’s stock.

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.