Nissay Asset Management Corp Japan Purchases 4,743 Shares of Diamondback Energy, Inc. $FANG

Nissay Asset Management Corp Japan increased its position in shares of Diamondback Energy, Inc. (NASDAQ:FANG) by 7.1% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 71,414 shares of the oil and natural gas company’s stock after buying an additional 4,743 shares during the period. Nissay Asset Management Corp Japan’s holdings in Diamondback Energy were worth $12,553,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of FANG. BlackRock Inc. acquired a new position in Diamondback Energy during the 2nd quarter worth $3,303,362,000. Wellington Management Group LLP boosted its holdings in Diamondback Energy by 31.3% during the second quarter. Wellington Management Group LLP now owns 16,420,247 shares of the oil and natural gas company’s stock valued at $2,886,351,000 after acquiring an additional 3,918,943 shares during the period. Boston Partners boosted its holdings in Diamondback Energy by 2.9% during the third quarter. Boston Partners now owns 5,733,538 shares of the oil and natural gas company’s stock valued at $821,649,000 after acquiring an additional 163,548 shares during the period. Geode Capital Management LLC grew its position in shares of Diamondback Energy by 0.3% in the fourth quarter. Geode Capital Management LLC now owns 5,621,120 shares of the oil and natural gas company’s stock valued at $844,073,000 after purchasing an additional 14,625 shares during the last quarter. Finally, Bank of New York Mellon Corp increased its stake in shares of Diamondback Energy by 11.5% in the fourth quarter. Bank of New York Mellon Corp now owns 5,159,365 shares of the oil and natural gas company’s stock worth $775,607,000 after purchasing an additional 532,756 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 news, CAO Teresa L. Dick sold 7,000 shares of the business’s stock in a transaction that occurred on Tuesday, June 2nd. The stock was sold at an average price of $200.90, for a total transaction of $1,406,300.00. Following the sale, the chief accounting officer directly owned 85,755 shares in the company, valued at approximately $17,228,179.50. The trade was a 7.55% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, EVP Matt Zmigrosky sold 5,000 shares of the business’s stock in a transaction that occurred on Monday, June 1st. The shares were sold at an average price of $200.54, for a total value of $1,002,700.00. Following the sale, the executive vice president owned 46,392 shares in the company, valued at approximately $9,303,451.68. This represents a 9.73% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders sold 129,167 shares of company stock worth $24,714,309. Insiders own 0.64% of the company’s stock.

Diamondback Energy Stock Performance

NASDAQ:FANG opened at $197.67 on Friday. The firm’s 50-day moving average is $193.25 and its 200-day moving average is $190.49. The company has a market cap of $55.35 billion, a price-to-earnings ratio of 38.53 and a beta of 0.43. The company has a debt-to-equity ratio of 0.25, a quick ratio of 0.45 and a current ratio of 0.47. Diamondback Energy, Inc. has a 52-week low of $134.30 and a 52-week high of $216.90.

Diamondback Energy (NASDAQ:FANG) last released its earnings results on Monday, August 3rd. The oil and natural gas company reported $6.48 earnings per share for the quarter, beating the consensus estimate of $6.08 by $0.40. Diamondback Energy had a net margin of 8.58% and a return on equity of 10.10%. The business had revenue of $5.56 billion during the quarter, compared to analysts’ expectations of $4.89 billion. During the same quarter last year, the company earned $2.38 earnings per share. The firm’s revenue was up 51.2% on a year-over-year basis. Equities research analysts anticipate that Diamondback Energy, Inc. will post 20.13 earnings per share for the current year.

Diamondback Energy Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, August 20th. Shareholders of record on Thursday, August 13th were issued a $1.10 dividend. The ex-dividend date of this dividend was Thursday, August 13th. This represents a $4.40 annualized dividend and a yield of 2.2%. Diamondback Energy’s dividend payout ratio is 85.77%.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on FANG shares. Jefferies Financial Group reissued a “hold” rating and set a $205.00 price objective on shares of Diamondback Energy in a research report on Sunday, August 9th. Wall Street Zen raised Diamondback Energy from a “hold” rating to a “buy” rating in a report on Saturday, August 8th. Susquehanna lifted their price target on Diamondback Energy from $245.00 to $255.00 and gave the stock a “positive” rating in a research report on Tuesday, July 21st. Roth Capital set a $212.00 price target on Diamondback Energy and gave the stock a “buy” rating in a report on Monday, June 22nd. Finally, Weiss Ratings raised Diamondback Energy from a “hold (c-)” rating to a “hold (c)” rating in a research report on Friday, July 31st. Four research analysts have rated the stock with a Strong Buy rating, fifteen have issued a Buy rating and five have issued a Hold rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $222.21.

Diamondback Energy Profile

Diamondback Energy, Inc (NASDAQ: FANG) is an independent oil and natural gas company focused on the development, exploration and production of unconventional resources in the Permian Basin. Headquartered in Midland, Texas, the company concentrates its operations in the core Midland and Delaware sub?basins of West Texas and southeastern New Mexico, where it pursues contiguous acreage positions to support repeatable drilling programs.

Diamondback’s activities span the upstream value chain, including leasehold acquisition, well planning, drilling, completion and production optimization.