21,510 Shares in Diamondback Energy, Inc. $FANG Purchased by Northwestern Mutual Wealth Management Co.

Northwestern Mutual Wealth Management Co. purchased a new stake in shares of Diamondback Energy, Inc. (NASDAQ:FANG) in the second quarter, HoldingsChannel.com reports. The institutional investor purchased 21,510 shares of the oil and natural gas company’s stock, valued at approximately $3,781,000.

Other hedge funds have also bought and sold shares of the company. Laurel Wealth Advisors LLC purchased a new position in shares of Diamondback Energy during the fourth quarter valued at approximately $26,000. Cedar Mountain Advisors LLC purchased a new stake in shares of Diamondback Energy in the 1st quarter worth approximately $26,000. JPL Wealth Management LLC purchased a new stake in shares of Diamondback Energy in the 3rd quarter worth approximately $26,000. Wellington Shields & Co. LLC increased its position in Diamondback Energy by 264.7% during the 4th quarter. Wellington Shields & Co. LLC now owns 186 shares of the oil and natural gas company’s stock valued at $28,000 after buying an additional 135 shares in the last quarter. Finally, Meeder Asset Management Inc. bought a new position in Diamondback Energy during the 2nd quarter valued at approximately $28,000. Institutional investors own 90.01% of the company’s stock.

Analyst Ratings Changes

FANG has been the topic of several analyst reports. Zacks Research downgraded Diamondback Energy from a “strong-buy” rating to a “hold” rating in a report on Thursday, May 28th. Citigroup lowered their price target on Diamondback Energy from $221.00 to $220.00 and set a “buy” rating for the company in a research report on Monday, August 10th. Mizuho upped their price target on shares of Diamondback Energy from $220.00 to $240.00 and gave the stock an “outperform” rating in a research note on Wednesday, May 27th. Wolfe Research reissued an “outperform” rating and set a $206.00 price objective on shares of Diamondback Energy in a research report on Tuesday, August 4th. Finally, Weiss Ratings upgraded shares of Diamondback Energy from a “hold (c-)” rating to a “hold (c)” rating in a research note on Friday, July 31st. Four investment analysts have rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating and five have issued a Hold rating to the stock. According to MarketBeat, Diamondback Energy has a consensus rating of “Moderate Buy” and a consensus target price of $222.21.

Diamondback Energy Stock Down 2.4%

Diamondback Energy stock opened at $205.60 on Tuesday. Diamondback Energy, Inc. has a 12 month low of $134.30 and a 12 month high of $216.90. The stock has a fifty day simple moving average of $192.10 and a two-hundred day simple moving average of $189.74. The company has a current ratio of 0.47, a quick ratio of 0.45 and a debt-to-equity ratio of 0.25. The firm has a market cap of $57.57 billion, a price-to-earnings ratio of 40.08 and a beta of 0.43.

Diamondback Energy (NASDAQ:FANG) last announced its quarterly earnings results on Monday, August 3rd. The oil and natural gas company reported $6.48 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $6.08 by $0.40. Diamondback Energy had a return on equity of 10.10% and a net margin of 8.58%.The firm had revenue of $5.56 billion for the quarter, compared to the consensus estimate of $4.89 billion. During the same period in the prior year, the company posted $2.38 earnings per share. The company’s quarterly revenue was up 51.2% on a year-over-year basis. Equities analysts predict that Diamondback Energy, Inc. will post 20.13 EPS for the current fiscal year.

Diamondback Energy Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, August 20th. Shareholders of record on Thursday, August 13th were paid a dividend of $1.10 per share. The ex-dividend date was Thursday, August 13th. This represents a $4.40 annualized dividend and a yield of 2.1%. Diamondback Energy’s dividend payout ratio is currently 85.77%.

Insider Activity at Diamondback Energy

In other news, CAO Teresa L. Dick sold 7,000 shares of the firm’s stock in a transaction dated Tuesday, June 2nd. The shares were sold at an average price of $200.90, for a total transaction of $1,406,300.00. Following the sale, the chief accounting officer owned 85,755 shares of the company’s stock, valued at $17,228,179.50. This trade represents a 7.55% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Mark Lawrence Plaumann sold 500 shares of Diamondback Energy stock in a transaction that occurred on 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 $2,640,370.50. This represents a 3.59% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 129,167 shares of company stock worth $24,714,309 over the last quarter. 0.64% of the stock is currently owned by insiders.

About Diamondback Energy

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.