Mitsubishi UFJ Trust & Banking Corp Buys 4,085 Shares of Diamondback Energy, Inc. (NASDAQ:FANG)

Mitsubishi UFJ Trust & Banking Corp grew its position in shares of Diamondback Energy, Inc. (NASDAQ:FANG) by 4.2% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 100,797 shares of the oil and natural gas company’s stock after buying an additional 4,085 shares during the quarter. Mitsubishi UFJ Trust & Banking Corp’s holdings in Diamondback Energy were worth $16,514,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also recently modified their holdings of FANG. Lakewood Asset Management LLC lifted its holdings in Diamondback Energy by 0.5% in the fourth quarter. Lakewood Asset Management LLC now owns 11,340 shares of the oil and natural gas company’s stock valued at $1,858,000 after acquiring an additional 60 shares during the period. Magnolia Capital Advisors LLC increased its position in shares of Diamondback Energy by 2.0% during the 4th quarter. Magnolia Capital Advisors LLC now owns 3,247 shares of the oil and natural gas company’s stock valued at $532,000 after purchasing an additional 64 shares during the last quarter. Barden Capital Management Inc. lifted its stake in shares of Diamondback Energy by 1.5% in the 4th quarter. Barden Capital Management Inc. now owns 4,380 shares of the oil and natural gas company’s stock worth $718,000 after purchasing an additional 64 shares during the period. Greenleaf Trust boosted its holdings in shares of Diamondback Energy by 1.0% in the fourth quarter. Greenleaf Trust now owns 6,892 shares of the oil and natural gas company’s stock worth $1,129,000 after buying an additional 66 shares during the last quarter. Finally, Buckhead Capital Management LLC grew its position in Diamondback Energy by 0.3% during the fourth quarter. Buckhead Capital Management LLC now owns 19,830 shares of the oil and natural gas company’s stock valued at $3,249,000 after buying an additional 67 shares during the period. 90.01% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Diamondback Energy

In related news, Director Frank D. Tsuru bought 2,000 shares of the stock in a transaction dated Friday, February 28th. The stock was purchased at an average cost of $156.51 per share, with a total value of $313,020.00. Following the completion of the purchase, the director now owns 5,730 shares of the company’s stock, valued at $896,802.30. This trade represents a 53.62 % increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. 0.48% of the stock is owned by company insiders.

Analyst Ratings Changes

FANG has been the topic of several recent research reports. Raymond James decreased their price target on shares of Diamondback Energy from $245.00 to $214.00 and set a “strong-buy” rating on the stock in a research report on Wednesday, March 12th. Piper Sandler decreased their target price on Diamondback Energy from $252.00 to $232.00 and set an “overweight” rating on the stock in a report on Tuesday, December 17th. Citigroup cut their price target on Diamondback Energy from $195.00 to $157.00 and set a “neutral” rating for the company in a report on Monday, March 17th. JPMorgan Chase & Co. decreased their price objective on Diamondback Energy from $212.00 to $167.00 and set an “overweight” rating on the stock in a research note on Thursday, March 13th. Finally, Mizuho boosted their price objective on Diamondback Energy from $201.00 to $204.00 and gave the company an “outperform” rating in a research note on Tuesday, February 25th. Four research analysts have rated the stock with a hold rating, eighteen have issued a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat.com, Diamondback Energy currently has an average rating of “Moderate Buy” and a consensus price target of $209.33.

Diamondback Energy Trading Down 1.7 %

FANG stock opened at $157.54 on Friday. The firm has a fifty day moving average price of $158.66 and a 200 day moving average price of $169.73. Diamondback Energy, Inc. has a fifty-two week low of $137.09 and a fifty-two week high of $214.50. The firm has a market cap of $45.60 billion, a PE ratio of 9.02, a price-to-earnings-growth ratio of 1.24 and a beta of 1.85. The company has a debt-to-equity ratio of 0.31, a quick ratio of 0.42 and a current ratio of 0.45.

Diamondback Energy (NASDAQ:FANG) last announced its earnings results on Tuesday, February 25th. The oil and natural gas company reported $3.64 earnings per share for the quarter, beating the consensus estimate of $3.57 by $0.07. Diamondback Energy had a net margin of 33.64% and a return on equity of 13.68%. The business had revenue of $3.71 billion for the quarter, compared to the consensus estimate of $3.55 billion. Sell-side analysts anticipate that Diamondback Energy, Inc. will post 15.49 earnings per share for the current fiscal year.

Diamondback Energy Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, March 13th. Investors of record on Thursday, March 6th were paid a dividend of $1.00 per share. This is a positive change from Diamondback Energy’s previous quarterly dividend of $0.90. This represents a $4.00 dividend on an annualized basis and a dividend yield of 2.54%. The ex-dividend date was Thursday, March 6th. Diamondback Energy’s dividend payout ratio (DPR) is currently 25.32%.

Diamondback Energy Company 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.