Nuveen Asset Management LLC acquired a new position in shares of Diamondback Energy Inc (NASDAQ:FANG) during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The firm acquired 2,785,405 shares of the oil and natural gas company’s stock, valued at approximately $303,291,000. Nuveen Asset Management LLC owned about 1.71% of Diamondback Energy as of its most recent filing with the SEC.
A number of other institutional investors have also modified their holdings of FANG. Delek Group Ltd. lifted its stake in shares of Diamondback Energy by 13.9% in the first quarter. Delek Group Ltd. now owns 221,860 shares of the oil and natural gas company’s stock valued at $22,414,000 after purchasing an additional 27,060 shares during the period. Trexquant Investment LP acquired a new position in Diamondback Energy during the first quarter valued at approximately $4,545,000. Amica Mutual Insurance Co. acquired a new position in Diamondback Energy during the second quarter valued at approximately $466,000. Alphasimplex Group LLC acquired a new position in Diamondback Energy during the first quarter valued at approximately $1,031,000. Finally, Scout Investments Inc. lifted its position in shares of Diamondback Energy by 7.6% during the second quarter. Scout Investments Inc. now owns 208,270 shares of the oil and natural gas company’s stock worth $22,695,000 after purchasing an additional 14,703 shares in the last quarter. 99.17% of the stock is currently owned by institutional investors.
In other Diamondback Energy news, Director Michael P. Cross sold 1,000 shares of the stock in a transaction that occurred on Tuesday, September 17th. The stock was sold at an average price of $104.75, for a total value of $104,750.00. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Travis D. Stice purchased 4,186 shares of the business’s stock in a transaction on Friday, August 9th. The stock was purchased at an average price of $95.55 per share, for a total transaction of $399,972.30. The disclosure for this purchase can be found here. In the last ninety days, insiders sold 16,000 shares of company stock valued at $1,621,690. Insiders own 0.47% of the company’s stock.
Diamondback Energy (NASDAQ:FANG) last issued its quarterly earnings data on Tuesday, August 6th. The oil and natural gas company reported $1.70 EPS for the quarter, missing analysts’ consensus estimates of $1.74 by ($0.04). Diamondback Energy had a net margin of 26.92% and a return on equity of 6.50%. The firm had revenue of $1.02 billion during the quarter, compared to analyst estimates of $1.04 billion. During the same period in the prior year, the company earned $1.59 earnings per share. The business’s quarterly revenue was up 93.7% compared to the same quarter last year. As a group, analysts anticipate that Diamondback Energy Inc will post 7.12 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Monday, August 26th. Shareholders of record on Friday, August 16th were issued a $0.188 dividend. The ex-dividend date of this dividend was Thursday, August 15th. This represents a $0.75 dividend on an annualized basis and a yield of 0.81%. Diamondback Energy’s payout ratio is presently 12.78%.
Several research firms recently issued reports on FANG. Morgan Stanley cut their price target on shares of Diamondback Energy from $143.00 to $140.00 and set an “overweight” rating on the stock in a report on Wednesday, August 14th. JPMorgan Chase & Co. lowered their target price on shares of Diamondback Energy from $155.00 to $149.00 and set an “overweight” rating for the company in a research note on Wednesday, August 14th. MKM Partners started coverage on shares of Diamondback Energy in a research report on Friday, June 28th. They set a “buy” rating for the company. Royal Bank of Canada restated a “buy” rating and set a $156.00 price target on shares of Diamondback Energy in a research report on Sunday, August 11th. Finally, Citigroup decreased their target price on shares of Diamondback Energy from $135.00 to $118.00 and set a “buy” rating for the company in a research report on Monday. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating, twenty-three have assigned a buy rating and two have assigned a strong buy rating to the stock. The company has an average rating of “Buy” and an average price target of $150.95.
Diamondback Energy Company Profile
Diamondback Energy, Inc, an independent oil and natural gas company, focuses on the acquisition, development, exploration, and exploitation of unconventional and onshore oil and natural gas reserves in the Permian Basin in West Texas. It primarily 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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