Thornburg Investment Management Inc. Sells 3,698 Shares of Diamondback Energy, Inc. (NASDAQ:FANG)

Thornburg Investment Management Inc. lessened its holdings in shares of Diamondback Energy, Inc. (NASDAQ:FANG) by 59.5% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,515 shares of the oil and natural gas company’s stock after selling 3,698 shares during the quarter. Thornburg Investment Management Inc.’s holdings in Diamondback Energy were worth $520,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. UniSuper Management Pty Ltd increased its position in shares of Diamondback Energy by 337.8% during the first quarter. UniSuper Management Pty Ltd now owns 7,211 shares of the oil and natural gas company’s stock worth $1,429,000 after acquiring an additional 5,564 shares in the last quarter. Clearbridge Investments LLC acquired a new position in Diamondback Energy during the 1st quarter valued at about $40,533,000. O Shaughnessy Asset Management LLC increased its holdings in Diamondback Energy by 27.5% during the 1st quarter. O Shaughnessy Asset Management LLC now owns 11,266 shares of the oil and natural gas company’s stock worth $2,233,000 after purchasing an additional 2,432 shares in the last quarter. Covestor Ltd raised its stake in shares of Diamondback Energy by 105.9% in the first quarter. Covestor Ltd now owns 560 shares of the oil and natural gas company’s stock worth $111,000 after purchasing an additional 288 shares during the last quarter. Finally, Ontario Teachers Pension Plan Board lifted its holdings in shares of Diamondback Energy by 39.3% in the first quarter. Ontario Teachers Pension Plan Board now owns 19,249 shares of the oil and natural gas company’s stock valued at $3,815,000 after purchasing an additional 5,426 shares in the last quarter. Institutional investors own 90.01% of the company’s stock.

Diamondback Energy Stock Performance

Shares of NASDAQ:FANG traded up $0.47 during trading on Wednesday, hitting $198.83. 1,178,641 shares of the company were exchanged, compared to its average volume of 1,583,002. Diamondback Energy, Inc. has a 52-week low of $142.71 and a 52-week high of $214.50. The stock has a 50 day moving average of $197.77 and a 200 day moving average of $187.64. The company has a debt-to-equity ratio of 0.37, a current ratio of 0.92 and a quick ratio of 0.89. The company has a market cap of $35.46 billion, a PE ratio of 11.35, a P/E/G ratio of 1.13 and a beta of 1.90.

Diamondback Energy (NASDAQ:FANG) last issued its quarterly earnings data on Tuesday, April 30th. The oil and natural gas company reported $4.50 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $4.29 by $0.21. The business had revenue of $2.23 billion for the quarter, compared to analysts’ expectations of $2.10 billion. Diamondback Energy had a return on equity of 19.36% and a net margin of 36.71%. The firm’s quarterly revenue was up 15.7% on a year-over-year basis. During the same quarter in the prior year, the firm posted $4.10 EPS. As a group, equities research analysts predict that Diamondback Energy, Inc. will post 18.7 EPS for the current year.

Diamondback Energy Cuts Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, May 22nd. Investors of record on Wednesday, May 15th were paid a dividend of $0.90 per share. The ex-dividend date of this dividend was Tuesday, May 14th. This represents a $3.60 annualized dividend and a yield of 1.81%. Diamondback Energy’s dividend payout ratio is currently 20.29%.

Analyst Ratings Changes

A number of equities research analysts recently commented on the company. Morgan Stanley lowered their price target on Diamondback Energy from $186.00 to $184.00 and set an “overweight” rating for the company in a research report on Monday, April 15th. Benchmark reissued a “buy” rating and set a $154.00 price target on shares of Diamondback Energy in a research report on Thursday, June 20th. Royal Bank of Canada boosted their price target on shares of Diamondback Energy from $195.00 to $220.00 and gave the stock an “outperform” rating in a report on Monday, May 6th. Bank of America increased their price objective on shares of Diamondback Energy from $201.00 to $215.00 and gave the company a “neutral” rating in a research note on Tuesday. Finally, Scotiabank cut their target price on Diamondback Energy from $255.00 to $245.00 and set a “sector outperform” rating on the stock in a research note on Friday, July 12th. One investment analyst has rated the stock with a sell rating, six have given a hold rating, fourteen have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $209.65.

Insider Activity at Diamondback Energy

In other Diamondback Energy news, COO Daniel N. Wesson sold 6,000 shares of the firm’s stock in a transaction 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 completion of the transaction, the chief operating officer now directly owns 69,677 shares of the company’s stock, valued at approximately $13,736,123.78. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other Diamondback Energy news, COO Daniel N. Wesson sold 6,000 shares of the firm’s stock in a transaction dated Tuesday, May 28th. The stock was 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 owns 69,677 shares of the company’s stock, valued at approximately $13,736,123.78. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, VP Jere W. Thompson III sold 900 shares of the business’s stock in a transaction dated Friday, May 3rd. The stock was sold at an average price of $199.90, for a total value of $179,910.00. Following the transaction, the vice president now directly owns 7,585 shares of the company’s stock, valued at approximately $1,516,241.50. The disclosure for this sale can be found here. 0.48% of the stock is owned by corporate insiders.

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.