FUKOKU MUTUAL LIFE INSURANCE Co Sells 850 Shares of Diamondback Energy, Inc. (NASDAQ:FANG)

FUKOKU MUTUAL LIFE INSURANCE Co lessened its stake in shares of Diamondback Energy, Inc. (NASDAQ:FANG) by 31.8% during the 4th quarter, Holdings Channel reports. The fund owned 1,819 shares of the oil and natural gas company’s stock after selling 850 shares during the period. FUKOKU MUTUAL LIFE INSURANCE Co’s holdings in Diamondback Energy were worth $298,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. R Squared Ltd acquired a new stake in Diamondback Energy in the fourth quarter worth about $29,000. UMB Bank n.a. boosted 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 purchasing an additional 136 shares in the last quarter. Key Financial Inc increased its stake in Diamondback Energy by 940.0% during the 4th quarter. Key Financial Inc now owns 208 shares of the oil and natural gas company’s stock valued at $34,000 after purchasing an additional 188 shares in the last quarter. Ashton Thomas Securities LLC purchased a new position in Diamondback Energy in the 3rd quarter worth $52,000. Finally, Synergy Asset Management LLC purchased a new stake in Diamondback Energy in the fourth quarter valued at approximately $67,000. 90.01% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

FANG has been the subject of several recent research reports. The Goldman Sachs Group assumed coverage on shares of Diamondback Energy in a report on Monday, December 2nd. They set a “buy” rating and a $227.00 target price for the company. Morgan Stanley lifted their price objective on Diamondback Energy from $220.00 to $227.00 and gave the company an “overweight” rating in a research note on Wednesday, February 19th. Piper Sandler reduced their price target on Diamondback Energy from $252.00 to $232.00 and set an “overweight” rating for the company in a research report on Tuesday, December 17th. Mizuho boosted their price target on Diamondback Energy from $201.00 to $204.00 and gave the company an “outperform” rating in a report on Tuesday. Finally, Truist Financial raised their price objective on shares of Diamondback Energy from $236.00 to $238.00 and gave the stock a “buy” rating in a research note on Wednesday, February 19th. Four equities research analysts have rated the stock with a hold rating, eighteen have issued a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, Diamondback Energy presently has an average rating of “Moderate Buy” and an average target price of $216.09.

Diamondback Energy Trading Up 0.3 %

FANG opened at $152.43 on Thursday. Diamondback Energy, Inc. has a 1-year low of $151.00 and a 1-year high of $214.50. The firm has a 50-day moving average price of $165.28 and a two-hundred day moving average price of $175.77. The stock has a market capitalization of $44.51 billion, a PE ratio of 8.73, a PEG ratio of 1.24 and a beta of 1.86. The company has a current ratio of 0.45, a quick ratio of 0.42 and a debt-to-equity ratio of 0.31.

Diamondback Energy (NASDAQ:FANG) last posted its quarterly earnings data on Tuesday, February 25th. The oil and natural gas company reported $3.64 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.57 by $0.07. The firm had revenue of $3.71 billion for the quarter, compared to the consensus estimate of $3.55 billion. Diamondback Energy had a return on equity of 13.68% and a net margin of 33.64%. As a group, equities analysts anticipate that Diamondback Energy, Inc. will post 15.49 earnings per share for the current fiscal year.

Diamondback Energy Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, March 13th. Investors of record on Thursday, March 6th will be given a $1.00 dividend. This represents a $4.00 dividend on an annualized basis and a yield of 2.62%. This is a positive change from Diamondback Energy’s previous quarterly dividend of $0.90. The ex-dividend date is Thursday, March 6th. Diamondback Energy’s dividend payout ratio (DPR) is presently 25.32%.

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.