Principal Financial Group Inc. Has $23.51 Million Holdings in Diamondback Energy Inc (NASDAQ:FANG)

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Principal Financial Group Inc. decreased its holdings in shares of Diamondback Energy Inc (NASDAQ:FANG) by 0.7% in the first quarter, HoldingsChannel.com reports. The firm owned 231,560 shares of the oil and natural gas company’s stock after selling 1,576 shares during the quarter. Principal Financial Group Inc.’s holdings in Diamondback Energy were worth $23,510,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also made changes to their positions in the company. Securian Asset Management Inc increased its holdings in shares of Diamondback Energy by 0.6% during the first quarter. Securian Asset Management Inc now owns 16,116 shares of the oil and natural gas company’s stock worth $1,636,000 after buying an additional 95 shares in the last quarter. Louisiana State Employees Retirement System increased its holdings in shares of Diamondback Energy by 1.2% during the first quarter. Louisiana State Employees Retirement System now owns 8,200 shares of the oil and natural gas company’s stock worth $833,000 after buying an additional 100 shares in the last quarter. Penserra Capital Management LLC increased its holdings in shares of Diamondback Energy by 7.6% during the first quarter. Penserra Capital Management LLC now owns 1,438 shares of the oil and natural gas company’s stock worth $145,000 after buying an additional 102 shares in the last quarter. LS Investment Advisors LLC increased its holdings in shares of Diamondback Energy by 2.0% during the first quarter. LS Investment Advisors LLC now owns 5,533 shares of the oil and natural gas company’s stock worth $562,000 after buying an additional 106 shares in the last quarter. Finally, Fruth Investment Management increased its holdings in shares of Diamondback Energy by 5.2% during the first quarter. Fruth Investment Management now owns 2,301 shares of the oil and natural gas company’s stock worth $233,000 after buying an additional 114 shares in the last quarter. Hedge funds and other institutional investors own 98.97% of the company’s stock.

Shares of Diamondback Energy stock opened at $98.95 on Friday. The company has a debt-to-equity ratio of 0.32, a current ratio of 0.62 and a quick ratio of 0.59. The company has a market capitalization of $16.29 billion, a P/E ratio of 16.86, a P/E/G ratio of 0.59 and a beta of 0.83. Diamondback Energy Inc has a fifty-two week low of $85.19 and a fifty-two week high of $140.78.

Diamondback Energy (NASDAQ:FANG) last issued its quarterly earnings results on Tuesday, May 7th. The oil and natural gas company reported $1.39 earnings per share for the quarter, beating analysts’ consensus estimates of $1.36 by $0.03. The business had revenue of $864.00 million during the quarter, compared to analyst estimates of $893.16 million. Diamondback Energy had a net margin of 27.05% and a return on equity of 6.81%. Diamondback Energy’s revenue for the quarter was up 80.4% compared to the same quarter last year. During the same quarter last year, the business posted $1.64 earnings per share. Equities analysts predict that Diamondback Energy Inc will post 8.07 earnings per share for the current fiscal year.

The business also recently declared a quarterly dividend, which was paid on Tuesday, June 4th. Investors of record on Tuesday, May 28th were issued a $0.188 dividend. The ex-dividend date of this dividend was Friday, May 24th. This represents a $0.75 dividend on an annualized basis and a dividend yield of 0.76%. This is a positive change from Diamondback Energy’s previous quarterly dividend of $0.13. Diamondback Energy’s dividend payout ratio (DPR) is currently 12.78%.

In other Diamondback Energy news, VP Russell Pantermuehl sold 5,000 shares of Diamondback Energy stock in a transaction on Tuesday, May 21st. The shares were sold at an average price of $112.18, for a total transaction of $560,900.00. Following the completion of the sale, the vice president now owns 117,107 shares of the company’s stock, valued at approximately $13,137,063.26. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Randall J. Holder sold 4,000 shares of Diamondback Energy stock in a transaction on Monday, March 18th. The stock was sold at an average price of $104.13, for a total transaction of $416,520.00. Following the sale, the insider now directly owns 14,448 shares of the company’s stock, valued at approximately $1,504,470.24. The disclosure for this sale can be found here. Company insiders own 0.47% of the company’s stock.

Several analysts have recently weighed in on FANG shares. Morgan Stanley raised their price objective on shares of Diamondback Energy from $153.00 to $161.00 and gave the stock an “overweight” rating in a report on Monday, June 3rd. KeyCorp raised their price objective on shares of Diamondback Energy from $124.00 to $125.00 and gave the stock a “buy” rating in a report on Thursday, May 23rd. Williams Capital reaffirmed a “buy” rating and set a $165.00 price objective on shares of Diamondback Energy in a report on Wednesday, May 8th. JPMorgan Chase & Co. reaffirmed an “overweight” rating and set a $148.00 price objective on shares of Diamondback Energy in a report on Monday, March 11th. Finally, BidaskClub raised shares of Diamondback Energy from a “sell” rating to a “hold” rating in a report on Tuesday, June 11th. Three equities research analysts have rated the stock with a hold rating, twenty-five have issued a buy rating and two have issued a strong buy rating to the company. Diamondback Energy currently has an average rating of “Buy” and an average target price of $160.74.

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About Diamondback Energy

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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Want to see what other hedge funds are holding FANG? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Diamondback Energy Inc (NASDAQ:FANG).

Institutional Ownership by Quarter for Diamondback Energy (NASDAQ:FANG)

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