Nomura Asset Management Co. Ltd. Grows Stock Holdings in Diamondback Energy, Inc. $FANG

Nomura Asset Management Co. Ltd. increased its position in shares of Diamondback Energy, Inc. (NASDAQ:FANG) by 3.6% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 74,783 shares of the oil and natural gas company’s stock after purchasing an additional 2,627 shares during the period. Nomura Asset Management Co. Ltd.’s holdings in Diamondback Energy were worth $10,275,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the business. Universal Beteiligungs und Servicegesellschaft mbH lifted its holdings in Diamondback Energy by 38.0% during the 2nd quarter. Universal Beteiligungs und Servicegesellschaft mbH now owns 119,287 shares of the oil and natural gas company’s stock worth $16,390,000 after buying an additional 32,838 shares during the last quarter. Generali Investments Management Co LLC lifted its stake in Diamondback Energy by 18.3% during the second quarter. Generali Investments Management Co LLC now owns 1,475 shares of the oil and natural gas company’s stock worth $202,000 after purchasing an additional 228 shares during the last quarter. Financial Gravity Companies Inc. acquired a new position in Diamondback Energy in the second quarter valued at approximately $81,000. Rockefeller Capital Management L.P. boosted its holdings in Diamondback Energy by 32.8% in the second quarter. Rockefeller Capital Management L.P. now owns 380,054 shares of the oil and natural gas company’s stock valued at $52,220,000 after purchasing an additional 93,957 shares in the last quarter. Finally, Kingsview Wealth Management LLC increased its stake in Diamondback Energy by 20.4% in the second quarter. Kingsview Wealth Management LLC now owns 68,366 shares of the oil and natural gas company’s stock valued at $9,394,000 after purchasing an additional 11,600 shares during the last quarter. 90.01% of the stock is currently owned by institutional investors and hedge funds.

Diamondback Energy Price Performance

Shares of NASDAQ:FANG opened at $148.69 on Thursday. Diamondback Energy, Inc. has a one year low of $114.00 and a one year high of $186.07. The stock has a market capitalization of $42.60 billion, a price-to-earnings ratio of 10.33 and a beta of 0.99. The company has a 50-day simple moving average of $143.15 and a 200-day simple moving average of $142.37. The company has a debt-to-equity ratio of 0.35, a quick ratio of 0.60 and a current ratio of 0.62.

Diamondback Energy (NASDAQ:FANG) last issued its quarterly earnings results on Monday, November 3rd. The oil and natural gas company reported $3.08 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.94 by $0.14. The firm had revenue of $3.92 billion for the quarter, compared to analysts’ expectations of $3.48 billion. Diamondback Energy had a return on equity of 9.57% and a net margin of 27.32%.The firm’s revenue for the quarter was up 48.4% on a year-over-year basis. During the same quarter in the previous year, the firm posted $3.19 EPS. On average, analysts predict that Diamondback Energy, Inc. will post 15.49 EPS for the current year.

Diamondback Energy Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, November 20th. Stockholders of record on Thursday, November 13th will be paid a dividend of $1.00 per share. This represents a $4.00 annualized dividend and a dividend yield of 2.7%. The ex-dividend date is Thursday, November 13th. Diamondback Energy’s dividend payout ratio is 27.80%.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on FANG. UBS Group upped their target price on shares of Diamondback Energy from $171.00 to $174.00 and gave the company a “buy” rating in a report on Tuesday, November 11th. Morgan Stanley decreased their price objective on shares of Diamondback Energy from $186.00 to $184.00 and set an “overweight” rating for the company in a research note on Tuesday, October 14th. Roth Capital set a $162.00 price objective on Diamondback Energy and gave the stock a “buy” rating in a report on Tuesday, November 4th. Weiss Ratings reissued a “hold (c)” rating on shares of Diamondback Energy in a report on Thursday, November 13th. Finally, Melius started coverage on Diamondback Energy in a research note on Wednesday, August 20th. They set a “buy” rating and a $213.00 price target on the stock. Two equities research analysts have rated the stock with a Strong Buy rating, twenty have given a Buy rating and one has given a Hold rating to the company’s stock. According to MarketBeat, Diamondback Energy presently has an average rating of “Buy” and a consensus target price of $188.82.

Diamondback Energy 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.