Mitsubishi UFJ Asset Management Co. Ltd. Buys New Shares in Diamondback Energy, Inc. $FANG

Mitsubishi UFJ Asset Management Co. Ltd. purchased a new position in shares of Diamondback Energy, Inc. (NASDAQ:FANG) during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 495,974 shares of the oil and natural gas company’s stock, valued at approximately $87,182,000. Mitsubishi UFJ Asset Management Co. Ltd. owned approximately 0.18% of Diamondback Energy at the end of the most recent quarter.

Other large investors have also recently added to or reduced their stakes in the company. Laurel Wealth Advisors LLC bought a new stake in shares of Diamondback Energy in the 4th quarter valued at about $26,000. Cedar Mountain Advisors LLC acquired a new stake in Diamondback Energy in the 1st quarter valued at about $26,000. JPL Wealth Management LLC bought a new position in Diamondback Energy during the third quarter worth about $26,000. Wellington Shields & Co. LLC increased its position in Diamondback Energy by 264.7% during the fourth quarter. Wellington Shields & Co. LLC now owns 186 shares of the oil and natural gas company’s stock worth $28,000 after buying an additional 135 shares during the last quarter. Finally, Lloyd Advisory Services LLC. acquired a new position in Diamondback Energy during the fourth quarter worth approximately $31,000. Institutional investors and hedge funds own 90.01% of the company’s stock.

Insider Transactions at Diamondback Energy

In other news, Director Charles Alvin Meloy sold 33,333 shares of Diamondback Energy stock in a transaction on Monday, August 3rd. The stock was sold at an average price of $198.41, for a total transaction of $6,613,600.53. Following the completion of the sale, the director owned 818,197 shares of the company’s stock, valued at approximately $162,338,466.77. This trade represents a 3.91% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Matt Zmigrosky sold 5,000 shares of the business’s stock in a transaction dated Monday, June 1st. The shares were sold at an average price of $200.54, for a total transaction of $1,002,700.00. Following the completion of the sale, the executive vice president directly owned 46,392 shares of the company’s stock, valued at approximately $9,303,451.68. The trade was a 9.73% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 129,167 shares of company stock worth $24,714,309 over the last ninety days. Corporate insiders own 0.64% of the company’s stock.

Analysts Set New Price Targets

FANG has been the subject of a number of recent analyst reports. Citigroup cut their price objective on Diamondback Energy from $221.00 to $220.00 and set a “buy” rating for the company in a research report on Monday, August 10th. Morgan Stanley dropped their price target on Diamondback Energy from $229.00 to $216.00 and set an “overweight” rating on the stock in a research note on Monday, June 29th. Raymond James Financial reaffirmed a “strong-buy” rating and set a $248.00 price target on shares of Diamondback Energy in a report on Friday, July 31st. Weiss Ratings raised shares of Diamondback Energy from a “hold (c-)” rating to a “hold (c)” rating in a research report on Friday, July 31st. Finally, Zacks Research downgraded shares of Diamondback Energy from a “strong-buy” rating to a “hold” rating in a report on Thursday, May 28th. Four investment analysts have rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating and four have given a Hold rating to the company. According to data from MarketBeat.com, Diamondback Energy presently has an average rating of “Buy” and a consensus price target of $221.75.

Diamondback Energy Trading Up 1.8%

Shares of NASDAQ:FANG opened at $210.02 on Wednesday. Diamondback Energy, Inc. has a 12-month low of $134.30 and a 12-month high of $214.51. The stock has a market cap of $58.81 billion, a PE ratio of 40.94 and a beta of 0.43. The business has a 50 day moving average of $190.79 and a 200-day moving average of $188.42. The company has a quick ratio of 0.45, a current ratio of 0.47 and a debt-to-equity ratio of 0.25.

Diamondback Energy (NASDAQ:FANG) last announced its earnings results on Monday, August 3rd. The oil and natural gas company reported $6.48 earnings per share for the quarter, topping analysts’ consensus estimates of $6.08 by $0.40. The company had revenue of $5.56 billion for the quarter, compared to analyst estimates of $4.89 billion. Diamondback Energy had a return on equity of 10.10% and a net margin of 8.58%.The firm’s quarterly revenue was up 51.2% compared to the same quarter last year. During the same quarter last year, the company earned $2.38 earnings per share. As a group, equities research analysts forecast that Diamondback Energy, Inc. will post 19.5 earnings per share for the current year.

Diamondback Energy Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, August 20th. Shareholders of record on Thursday, August 13th will be given a dividend of $1.10 per share. The ex-dividend date is Thursday, August 13th. This represents a $4.40 annualized dividend and a yield of 2.1%. Diamondback Energy’s dividend payout ratio (DPR) is presently 85.77%.

Diamondback Energy Company 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.