UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Cuts Position in Diamondback Energy, Inc. (NASDAQ:FANG)

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC reduced its stake in shares of Diamondback Energy, Inc. (NASDAQ:FANG) by 5.3% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 709,854 shares of the oil and natural gas company’s stock after selling 39,757 shares during the quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC owned approximately 0.24% of Diamondback Energy worth $122,379,000 as of its most recent SEC filing.

A number of other institutional investors also recently added to or reduced their stakes in FANG. Quent Capital LLC lifted its position in shares of Diamondback Energy by 7.2% during the second quarter. Quent Capital LLC now owns 809 shares of the oil and natural gas company’s stock valued at $162,000 after buying an additional 54 shares during the last quarter. Carolinas Wealth Consulting LLC lifted its position in Diamondback Energy by 67.1% during the second quarter. Carolinas Wealth Consulting LLC now owns 137 shares of the oil and natural gas company’s stock valued at $27,000 after acquiring an additional 55 shares during the last quarter. Financial Advocates Investment Management boosted its stake in Diamondback Energy by 3.0% in the third quarter. Financial Advocates Investment Management now owns 1,907 shares of the oil and natural gas company’s stock valued at $329,000 after acquiring an additional 55 shares in the last quarter. Center For Asset Management LLC grew its holdings in Diamondback Energy by 3.3% in the second quarter. Center For Asset Management LLC now owns 1,859 shares of the oil and natural gas company’s stock worth $372,000 after purchasing an additional 60 shares during the last quarter. Finally, Brighton Jones LLC increased its position in shares of Diamondback Energy by 0.8% during the second quarter. Brighton Jones LLC now owns 7,821 shares of the oil and natural gas company’s stock worth $1,566,000 after purchasing an additional 60 shares in the last quarter. Institutional investors own 90.01% of the company’s stock.

Insider Activity

In related news, major shareholder Lyndal Greth sold 13,212,830 shares of the firm’s stock in a transaction dated Monday, September 23rd. The shares were sold at an average price of $175.11, for a total value of $2,313,698,661.30. Following the transaction, the insider now directly owns 1,037,819 shares of the company’s stock, valued at approximately $181,732,485.09. This trade represents a 92.72 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Mark Lawrence Plaumann sold 1,150 shares of the business’s stock in a transaction that occurred on Wednesday, November 13th. The stock was sold at an average price of $181.00, for a total value of $208,150.00. Following the sale, the director now owns 4,712 shares of the company’s stock, valued at approximately $852,872. This trade represents a 19.62 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 0.48% of the company’s stock.

Diamondback Energy Price Performance

Shares of Diamondback Energy stock opened at $177.59 on Monday. The firm has a market cap of $51.85 billion, a PE ratio of 10.17, a P/E/G ratio of 1.31 and a beta of 1.89. Diamondback Energy, Inc. has a twelve month low of $145.70 and a twelve month high of $214.50. The company has a quick ratio of 0.42, a current ratio of 0.45 and a debt-to-equity ratio of 0.31. The business has a 50-day moving average price of $181.95 and a 200 day moving average price of $189.82.

Diamondback Energy (NASDAQ:FANG) last posted its quarterly earnings data on Monday, November 4th. The oil and natural gas company reported $3.38 EPS for the quarter, missing analysts’ consensus estimates of $4.62 by ($1.24). Diamondback Energy had a net margin of 33.64% and a return on equity of 13.68%. The business had revenue of $2.65 billion during the quarter, compared to analysts’ expectations of $2.43 billion. During the same quarter last year, the firm earned $5.49 earnings per share. The firm’s quarterly revenue was up 13.0% compared to the same quarter last year. Sell-side analysts predict that Diamondback Energy, Inc. will post 16.26 earnings per share for the current fiscal year.

Diamondback Energy Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, November 21st. Shareholders of record on Thursday, November 14th were issued a dividend of $0.90 per share. This represents a $3.60 annualized dividend and a yield of 2.03%. The ex-dividend date was Thursday, November 14th. Diamondback Energy’s payout ratio is 20.61%.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on the company. Wells Fargo & Company restated a “sector outperform” rating on shares of Diamondback Energy in a research note on Friday, October 18th. Raymond James upped their price objective on shares of Diamondback Energy from $232.00 to $237.00 and gave the company a “strong-buy” rating in a report on Tuesday, November 19th. KeyCorp lowered their target price on shares of Diamondback Energy from $225.00 to $216.00 and set an “overweight” rating for the company in a research note on Wednesday, October 16th. Jefferies Financial Group initiated coverage on shares of Diamondback Energy in a research note on Monday, September 16th. They set a “hold” rating and a $185.00 price target on the stock. Finally, Truist Financial lifted their price objective on shares of Diamondback Energy from $220.00 to $230.00 and gave the stock a “buy” rating in a research note on Wednesday, October 16th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating, seventeen have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, Diamondback Energy presently has a consensus rating of “Moderate Buy” and a consensus target price of $212.00.

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.