Diamondback Energy, Inc. (NASDAQ:FANG) Shares Acquired by Mitsubishi UFJ Trust & Banking Corp

Mitsubishi UFJ Trust & Banking Corp boosted its holdings in shares of Diamondback Energy, Inc. (NASDAQ:FANG - Free Report) by 4.2% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 100,797 shares of the oil and natural gas company's stock after purchasing an additional 4,085 shares during the quarter. Mitsubishi UFJ Trust & Banking Corp's holdings in Diamondback Energy were worth $16,514,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of FANG. Wintrust Investments LLC purchased a new position in shares of Diamondback Energy during the 4th quarter valued at approximately $28,000. R Squared Ltd purchased a new position in Diamondback Energy during the fourth quarter valued at $29,000. UMB Bank n.a. lifted its holdings in Diamondback Energy by 247.3% during the fourth quarter. UMB Bank n.a. now owns 191 shares of the oil and natural gas company's stock valued at $31,000 after purchasing an additional 136 shares in the last quarter. Key Financial Inc grew its position in shares of Diamondback Energy by 940.0% in the fourth 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 during the period. Finally, Rakuten Securities Inc. increased its stake in shares of Diamondback Energy by 62.4% during the fourth quarter. Rakuten Securities Inc. now owns 276 shares of the oil and natural gas company's stock worth $45,000 after purchasing an additional 106 shares in the last quarter. 90.01% of the stock is owned by institutional investors and hedge funds.

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Analysts Set New Price Targets

FANG has been the subject of several research reports. Wells Fargo & Company cut their price objective on Diamondback Energy from $219.00 to $215.00 and set an "overweight" rating for the company in a research note on Wednesday, March 12th. Citigroup dropped their price target on Diamondback Energy from $195.00 to $157.00 and set a "neutral" rating for the company in a research report on Monday, March 17th. Piper Sandler decreased their price objective on Diamondback Energy from $252.00 to $232.00 and set an "overweight" rating on the stock in a report on Tuesday, December 17th. Wolfe Research raised shares of Diamondback Energy from a "peer perform" rating to an "outperform" rating and set a $190.00 target price for the company in a report on Friday, January 3rd. Finally, Mizuho raised their price target on shares of Diamondback Energy from $201.00 to $204.00 and gave the stock an "outperform" rating in a research note on Tuesday, February 25th. Four analysts have rated the stock with a hold rating, eighteen have issued a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat.com, Diamondback Energy currently has an average rating of "Moderate Buy" and an average target price of $209.33.

Diamondback Energy Stock Down 0.1 %

Shares of NASDAQ FANG traded down $0.21 during midday trading on Wednesday, hitting $160.66. The company's stock had a trading volume of 251,617 shares, compared to its average volume of 1,966,901. 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 firm has a market capitalization of $46.50 billion, a price-to-earnings ratio of 9.20, a price-to-earnings-growth ratio of 1.24 and a beta of 1.85. The business's fifty day simple moving average is $157.93 and its two-hundred day simple moving average is $169.57. Diamondback Energy, Inc. has a 1 year low of $137.09 and a 1 year high of $214.50.

Diamondback Energy (NASDAQ:FANG - Get Free Report) last posted its quarterly earnings data on Tuesday, February 25th. The oil and natural gas company reported $3.64 earnings per share for the quarter, topping analysts' consensus estimates of $3.57 by $0.07. The business had revenue of $3.71 billion for the quarter, compared to analyst estimates of $3.55 billion. Diamondback Energy had a return on equity of 13.68% and a net margin of 33.64%. On average, equities analysts predict that Diamondback Energy, Inc. will post 15.49 EPS for the current year.

Diamondback Energy Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, March 13th. Stockholders of record on Thursday, March 6th were paid a $1.00 dividend. This represents a $4.00 annualized dividend and a dividend yield of 2.49%. The ex-dividend date of this dividend was Thursday, March 6th. This is a boost from Diamondback Energy's previous quarterly dividend of $0.90. Diamondback Energy's dividend payout ratio (DPR) is presently 25.32%.

Insider Transactions at Diamondback Energy

In other news, Director Frank D. Tsuru purchased 2,000 shares of the stock in a transaction on Friday, February 28th. The stock was bought at an average price of $156.51 per share, for a total transaction of $313,020.00. Following the acquisition, the director now directly owns 5,730 shares of the company's stock, valued at approximately $896,802.30. The trade was a 53.62 % increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Corporate insiders own 0.48% of the company's stock.

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.