Diamondback Energy, Inc. (NASDAQ:FANG) Shares Purchased by Northwestern Mutual Wealth Management Co.

Northwestern Mutual Wealth Management Co. boosted its position in Diamondback Energy, Inc. (NASDAQ:FANG) by 5.5% during the second quarter, HoldingsChannel.com reports. The institutional investor owned 100,130 shares of the oil and natural gas company’s stock after acquiring an additional 5,251 shares during the quarter. Northwestern Mutual Wealth Management Co.’s holdings in Diamondback Energy were worth $20,045,000 as of its most recent SEC filing.

Other institutional investors have also modified their holdings of the company. Founders Capital Management raised its stake in shares of Diamondback Energy by 404.0% in the 1st quarter. Founders Capital Management now owns 126 shares of the oil and natural gas company’s stock valued at $25,000 after purchasing an additional 101 shares in the last quarter. First Community Trust NA acquired a new stake in shares of Diamondback Energy in the 2nd quarter valued at about $26,000. Carolinas Wealth Consulting LLC raised its stake in shares of Diamondback Energy by 67.1% in the 2nd quarter. Carolinas Wealth Consulting LLC now owns 137 shares of the oil and natural gas company’s stock valued at $27,000 after purchasing an additional 55 shares in the last quarter. Logan Capital Management Inc. acquired a new stake in shares of Diamondback Energy in the 4th quarter valued at about $31,000. Finally, HHM Wealth Advisors LLC bought a new stake in shares of Diamondback Energy during the 2nd quarter valued at about $40,000. Institutional investors and hedge funds own 90.01% of the company’s stock.

Insider Transactions at Diamondback Energy

In other news, major shareholder Lyndal Greth sold 13,212,830 shares of the stock in a transaction on Monday, September 23rd. The shares were sold at an average price of $175.11, for a total transaction of $2,313,698,661.30. Following the transaction, the insider now owns 1,037,819 shares in the company, valued at approximately $181,732,485.09. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. 0.48% of the stock is currently owned by company insiders.

Diamondback Energy Stock Up 1.0 %

Diamondback Energy stock opened at $172.40 on Tuesday. The firm has a market cap of $30.75 billion, a PE ratio of 9.72, a P/E/G ratio of 1.17 and a beta of 1.89. The company has a debt-to-equity ratio of 0.65, a quick ratio of 3.64 and a current ratio of 3.66. The firm’s 50 day moving average price is $188.52 and its two-hundred day moving average price is $195.43. Diamondback Energy, Inc. has a twelve month low of $143.08 and a twelve month high of $214.50.

Diamondback Energy (NASDAQ:FANG) last released its quarterly earnings data on Monday, August 5th. The oil and natural gas company reported $4.52 earnings per share for the quarter, beating the consensus estimate of $4.51 by $0.01. Diamondback Energy had a net margin of 37.51% and a return on equity of 19.54%. The firm had revenue of $2.48 billion for the quarter, compared to analyst estimates of $2.19 billion. During the same quarter in the prior year, the business earned $3.68 EPS. The company’s revenue for the quarter was up 29.4% compared to the same quarter last year. On average, research analysts predict that Diamondback Energy, Inc. will post 18.97 EPS for the current fiscal year.

Diamondback Energy Increases Dividend

The firm also recently declared a None dividend, which was paid on Thursday, August 22nd. Stockholders of record on Thursday, August 15th were paid a dividend of $2.34 per share. This is a positive change from Diamondback Energy’s previous None dividend of $2.26. The ex-dividend date was Thursday, August 15th. This represents a dividend yield of 1.9%. Diamondback Energy’s dividend payout ratio is 20.29%.

Analyst Upgrades and Downgrades

FANG has been the subject of a number of recent research reports. Sanford C. Bernstein lowered their price objective on shares of Diamondback Energy from $243.00 to $236.00 and set an “outperform” rating for the company in a research report on Wednesday, July 17th. Scotiabank lowered their price objective on shares of Diamondback Energy from $255.00 to $245.00 and set a “sector outperform” rating for the company in a research report on Friday, July 12th. Wells Fargo & Company lowered their price objective on shares of Diamondback Energy from $231.00 to $230.00 and set an “overweight” rating for the company in a research report on Wednesday, August 14th. KeyCorp initiated coverage on shares of Diamondback Energy in a research report on Thursday, June 27th. They set an “overweight” rating and a $225.00 price objective for the company. Finally, Truist Financial lowered their price objective on shares of Diamondback Energy from $255.00 to $220.00 and set a “buy” rating for the company in a research report on Monday. One research analyst has rated the stock with a sell rating, seven have given a hold rating, fourteen have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $207.76.

About Diamondback Energy

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.