Sumitomo Mitsui Trust Group Inc. Acquires 22,689 Shares of Diamondback Energy, Inc. (NASDAQ:FANG)

Sumitomo Mitsui Trust Group Inc. raised its holdings in Diamondback Energy, Inc. (NASDAQ:FANG) by 5.2% during the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 456,296 shares of the oil and natural gas company’s stock after acquiring an additional 22,689 shares during the quarter. Sumitomo Mitsui Trust Group Inc. owned approximately 0.16% of Diamondback Energy worth $74,755,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also bought and sold shares of the company. R Squared Ltd purchased a new position in Diamondback Energy in the 4th quarter worth about $29,000. UMB Bank n.a. grew its stake in Diamondback Energy by 247.3% in the 4th quarter. UMB Bank n.a. now owns 191 shares of the oil and natural gas company’s stock worth $31,000 after acquiring an additional 136 shares in the last quarter. Values First Advisors Inc. purchased a new position in shares of Diamondback Energy during the third quarter worth approximately $42,000. CVA Family Office LLC raised its stake in shares of Diamondback Energy by 28.1% during the third quarter. CVA Family Office LLC now owns 296 shares of the oil and natural gas company’s stock valued at $51,000 after acquiring an additional 65 shares in the last quarter. Finally, Ashton Thomas Securities LLC purchased a new stake in shares of Diamondback Energy in the third quarter valued at approximately $52,000. Hedge funds and other institutional investors own 90.01% of the company’s stock.

Analyst Upgrades and Downgrades

FANG has been the subject of a number of research analyst reports. Mizuho decreased their target price on Diamondback Energy from $219.00 to $207.00 and set an “outperform” rating for the company in a research report on Monday, December 16th. JPMorgan Chase & Co. lifted their price objective on Diamondback Energy from $191.00 to $195.00 and gave the company an “overweight” rating in a report on Friday, January 17th. StockNews.com upgraded shares of Diamondback Energy from a “sell” rating to a “hold” rating in a report on Wednesday, November 13th. The Goldman Sachs Group assumed coverage on shares of Diamondback Energy in a research report on Monday, December 2nd. They set a “buy” rating and a $227.00 target price on the stock. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and issued a $210.00 price target on shares of Diamondback Energy in a research report on Thursday, January 23rd. Four equities research analysts have rated the stock with a hold rating, eighteen have given a buy rating and two have issued a strong buy rating to the company. According to MarketBeat.com, Diamondback Energy presently has a consensus rating of “Moderate Buy” and a consensus target price of $215.00.

Insider Activity at Diamondback Energy

In related news, Director Mark Lawrence Plaumann sold 1,150 shares of the business’s stock in a transaction on Wednesday, November 13th. The shares were sold at an average price of $181.00, for a total transaction of $208,150.00. Following the completion of the transaction, the director now directly owns 4,712 shares in the company, valued at $852,872. The trade was a 19.62 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.48% of the stock is owned by insiders.

Diamondback Energy Price Performance

NASDAQ FANG opened at $158.13 on Monday. The stock’s fifty day moving average price is $167.54 and its 200 day moving average price is $179.30. Diamondback Energy, Inc. has a 1 year low of $151.25 and a 1 year high of $214.50. The company has a debt-to-equity ratio of 0.31, a current ratio of 0.45 and a quick ratio of 0.42. The company has a market cap of $46.17 billion, a price-to-earnings ratio of 9.05, a PEG ratio of 1.24 and a beta of 1.86.

Diamondback Energy Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, November 21st. Stockholders of record on Thursday, November 14th were paid a $0.90 dividend. This represents a $3.60 annualized dividend and a dividend yield of 2.28%. The ex-dividend date was Thursday, November 14th. Diamondback Energy’s payout ratio is 20.61%.

About Diamondback Energy

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.