Mitsubishi UFJ Asset Management Co. Ltd. Boosts Position in Diamondback Energy, Inc. (NASDAQ:FANG)

Mitsubishi UFJ Asset Management Co. Ltd. raised its position in Diamondback Energy, Inc. (NASDAQ:FANG - Free Report) by 18.2% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 327,284 shares of the oil and natural gas company's stock after acquiring an additional 50,423 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. owned approximately 0.11% of Diamondback Energy worth $55,952,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also recently made changes to their positions in the business. QRG Capital Management Inc. boosted its holdings in Diamondback Energy by 38.4% in the fourth quarter. QRG Capital Management Inc. now owns 11,675 shares of the oil and natural gas company's stock worth $1,913,000 after acquiring an additional 3,238 shares in the last quarter. Swedbank AB raised its position in shares of Diamondback Energy by 28.0% in the 4th quarter. Swedbank AB now owns 198,283 shares of the oil and natural gas company's stock valued at $32,485,000 after purchasing an additional 43,361 shares during the last quarter. Tokio Marine Asset Management Co. Ltd. boosted its stake in Diamondback Energy by 631.1% in the 4th quarter. Tokio Marine Asset Management Co. Ltd. now owns 43,148 shares of the oil and natural gas company's stock worth $7,069,000 after purchasing an additional 37,246 shares in the last quarter. Franklin Resources Inc. grew its position in Diamondback Energy by 48.5% during the 3rd quarter. Franklin Resources Inc. now owns 146,870 shares of the oil and natural gas company's stock worth $28,008,000 after purchasing an additional 47,951 shares during the last quarter. Finally, Tectonic Advisors LLC raised its holdings in shares of Diamondback Energy by 38.2% in the fourth quarter. Tectonic Advisors LLC now owns 31,467 shares of the oil and natural gas company's stock worth $5,155,000 after buying an additional 8,704 shares during the last quarter. Institutional investors and hedge funds own 90.01% of the company's stock.

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Insider Buying and Selling

In other Diamondback Energy news, Director Frank D. Tsuru bought 2,000 shares of the firm's stock in a transaction on Friday, February 28th. The shares were acquired at an average cost of $156.51 per share, with a total value of $313,020.00. Following the purchase, the director now directly owns 5,730 shares of the company's stock, valued at $896,802.30. This trade represents a 53.62 % increase in their position. The acquisition was disclosed in a filing with the SEC, which is available through this hyperlink. 0.48% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on FANG shares. Morgan Stanley dropped their price objective on shares of Diamondback Energy from $227.00 to $206.00 and set an "overweight" rating on the stock in a report on Thursday, March 27th. Wolfe Research raised Diamondback Energy from a "peer perform" rating to an "outperform" rating and set a $190.00 price objective on the stock in a report on Friday, January 3rd. JPMorgan Chase & Co. decreased their target price on Diamondback Energy from $212.00 to $167.00 and set an "overweight" rating for the company in a report on Thursday, March 13th. Mizuho increased their price target on shares of Diamondback Energy from $201.00 to $204.00 and gave the stock an "outperform" rating in a report on Tuesday, February 25th. Finally, Raymond James dropped their price objective on shares of Diamondback Energy from $245.00 to $214.00 and set a "strong-buy" rating on the stock in a report on Wednesday, March 12th. Four analysts have rated the stock with a hold rating, eighteen have given a buy rating and two have given a strong buy rating to the company's stock. According to MarketBeat.com, Diamondback Energy currently has a consensus rating of "Moderate Buy" and a consensus target price of $209.33.

Diamondback Energy Price Performance

NASDAQ:FANG traded up $0.35 during trading hours on Wednesday, hitting $161.22. 292,485 shares of the stock were exchanged, compared to its average volume of 2,454,474. The firm's fifty day moving average price is $157.93 and its 200 day moving average price is $169.57. Diamondback Energy, Inc. has a 52-week low of $137.09 and a 52-week high of $214.50. The company has a market cap of $46.66 billion, a P/E ratio of 9.22, a P/E/G ratio of 1.24 and a beta of 1.85. 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 - Get Free Report) last issued its quarterly earnings results on Tuesday, February 25th. The oil and natural gas company reported $3.64 EPS for the quarter, topping the consensus estimate of $3.57 by $0.07. The firm had revenue of $3.71 billion during the quarter, compared to analysts' expectations 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 research analysts anticipate that Diamondback Energy, Inc. will post 15.49 EPS for the current fiscal year.

Diamondback Energy Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, March 13th. Investors of record on Thursday, March 6th were given a dividend of $1.00 per share. The ex-dividend date of this dividend was Thursday, March 6th. This is a positive change from Diamondback Energy's previous quarterly dividend of $0.90. This represents a $4.00 dividend on an annualized basis and a yield of 2.48%. Diamondback Energy's payout ratio is presently 25.32%.

Diamondback Energy Company 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.