Nisa Investment Advisors LLC Has $10.35 Million Stock Holdings in Diamondback Energy, Inc. (NASDAQ:FANG)

Nisa Investment Advisors LLC lessened its holdings in Diamondback Energy, Inc. (NASDAQ:FANG) by 4.5% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 51,686 shares of the oil and natural gas company’s stock after selling 2,412 shares during the quarter. Nisa Investment Advisors LLC’s holdings in Diamondback Energy were worth $10,347,000 at the end of the most recent reporting period.

Other hedge funds have also added to or reduced their stakes in the company. Founders Capital Management grew its stake in shares of Diamondback Energy by 404.0% in the first quarter. Founders Capital Management now owns 126 shares of the oil and natural gas company’s stock worth $25,000 after purchasing an additional 101 shares during the last quarter. First Community Trust NA bought a new position in Diamondback Energy during the second quarter worth $26,000. Logan Capital Management Inc. bought a new stake in Diamondback Energy during the fourth quarter valued at $31,000. E Fund Management Hong Kong Co. Ltd. bought a new position in shares of Diamondback Energy in the 1st quarter worth about $49,000. Finally, First Horizon Advisors Inc. lifted its stake in shares of Diamondback Energy by 37.3% in the 4th quarter. First Horizon Advisors Inc. now owns 320 shares of the oil and natural gas company’s stock valued at $50,000 after purchasing an additional 87 shares during the period. 90.01% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Diamondback Energy

In other Diamondback Energy news, COO Daniel N. Wesson sold 6,000 shares of the stock in a transaction that occurred on Tuesday, May 28th. The shares were sold at an average price of $197.14, for a total value of $1,182,840.00. Following the sale, the chief operating officer now directly owns 69,677 shares in the company, valued at approximately $13,736,123.78. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 0.48% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have issued reports on FANG shares. UBS Group dropped their price target on Diamondback Energy from $257.00 to $245.00 and set a “buy” rating on the stock in a research note on Tuesday, August 13th. Truist Financial increased their target price on shares of Diamondback Energy from $249.00 to $255.00 and gave the stock a “buy” rating in a research note on Wednesday, August 7th. KeyCorp began coverage on shares of Diamondback Energy in a report on Thursday, June 27th. They issued an “overweight” rating and a $225.00 price target for the company. Mizuho upped their price objective on shares of Diamondback Energy from $217.00 to $222.00 and gave the company a “buy” rating in a report on Monday, May 13th. Finally, Wells Fargo & Company reduced their target price on Diamondback Energy from $231.00 to $230.00 and set an “overweight” rating for the company in a research note on Wednesday, August 14th. One analyst has rated the stock with a sell rating, six have given a hold rating, fourteen have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $211.75.

Diamondback Energy Stock Performance

Shares of NASDAQ:FANG traded up $0.52 during midday trading on Monday, reaching $195.34. The company had a trading volume of 691,042 shares, compared to its average volume of 1,557,695. Diamondback Energy, Inc. has a 52-week low of $143.08 and a 52-week high of $214.50. The company’s 50 day moving average price is $198.56 and its 200 day moving average price is $193.12. The company has a current ratio of 0.92, a quick ratio of 0.89 and a debt-to-equity ratio of 0.37. The stock has a market cap of $34.84 billion, a P/E ratio of 10.98, a P/E/G ratio of 1.06 and a beta of 1.90.

Diamondback Energy (NASDAQ:FANG) last released its earnings results on Monday, August 5th. The oil and natural gas company reported $4.52 earnings per share for the quarter, beating analysts’ consensus estimates of $4.51 by $0.01. Diamondback Energy had a net margin of 36.71% and a return on equity of 19.36%. The firm had revenue of $2.48 billion during the quarter, compared to the consensus estimate of $2.19 billion. During the same period in the prior year, the firm earned $3.68 EPS. The company’s revenue was up 29.4% compared to the same quarter last year. As a group, sell-side analysts anticipate that Diamondback Energy, Inc. will post 18.63 EPS for the current fiscal year.

Diamondback Energy Increases Dividend

The firm also recently disclosed a None dividend, which will be paid on Thursday, August 22nd. Investors of record on Thursday, August 15th will be issued a $2.34 dividend. The ex-dividend date is Thursday, August 15th. This is an increase from Diamondback Energy’s previous None dividend of $2.26. This represents a yield of 1.9%. Diamondback Energy’s dividend payout ratio (DPR) is 20.29%.

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.