Nomura Asset Management Co. Ltd. Has $11.15 Million Stake in Diamondback Energy, Inc. (NASDAQ:FANG)

Nomura Asset Management Co. Ltd. raised its position in Diamondback Energy, Inc. (NASDAQ:FANG - Free Report) by 6.4% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 68,070 shares of the oil and natural gas company's stock after purchasing an additional 4,101 shares during the quarter. Nomura Asset Management Co. Ltd.'s holdings in Diamondback Energy were worth $11,152,000 at the end of the most recent quarter.

Other hedge funds also recently bought and sold shares of the company. State Street Corp raised its holdings in shares of Diamondback Energy by 1.3% during the 3rd quarter. State Street Corp now owns 11,858,555 shares of the oil and natural gas company's stock valued at $2,044,415,000 after purchasing an additional 149,871 shares in the last quarter. Boston Partners lifted its position in shares of Diamondback Energy by 12.4% in the fourth quarter. Boston Partners now owns 5,169,742 shares of the oil and natural gas company's stock worth $849,202,000 after buying an additional 571,820 shares during the last quarter. Geode Capital Management LLC lifted its position in shares of Diamondback Energy by 6.1% in the third quarter. Geode Capital Management LLC now owns 4,618,560 shares of the oil and natural gas company's stock worth $793,611,000 after buying an additional 266,299 shares during the last quarter. Bank of New York Mellon Corp increased its holdings in shares of Diamondback Energy by 13.7% during the 4th quarter. Bank of New York Mellon Corp now owns 4,163,070 shares of the oil and natural gas company's stock valued at $682,036,000 after acquiring an additional 502,916 shares during the last quarter. Finally, Diamond Hill Capital Management Inc. increased its holdings in shares of Diamondback Energy by 30.5% during the 4th quarter. Diamond Hill Capital Management Inc. now owns 2,817,554 shares of the oil and natural gas company's stock valued at $461,600,000 after acquiring an additional 658,644 shares during the last quarter. 90.01% of the stock is owned by institutional investors and hedge funds.

Remove Ads

Insider Activity

In other Diamondback Energy news, Director Frank D. Tsuru purchased 2,000 shares of the company's stock in a transaction that occurred on Friday, February 28th. The stock was purchased at an average cost of $156.51 per share, with a total value 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. 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 link. 0.48% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on FANG shares. Royal Bank of Canada restated an "outperform" rating and issued a $210.00 target price on shares of Diamondback Energy in a report on Thursday, January 23rd. Piper Sandler reduced their price objective on shares of Diamondback Energy from $252.00 to $232.00 and set an "overweight" rating for the company in a research note on Tuesday, December 17th. Raymond James dropped their target price 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. Morgan Stanley decreased their price target on shares of Diamondback Energy from $227.00 to $206.00 and set an "overweight" rating for the company in a report on Thursday, March 27th. Finally, JPMorgan Chase & Co. dropped their price objective on Diamondback Energy from $212.00 to $167.00 and set an "overweight" rating on the stock in a research note on Thursday, March 13th. Four research analysts have rated the stock with a hold rating, eighteen have given a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $209.33.

Diamondback Energy Price Performance

NASDAQ FANG traded up $0.62 during trading on Wednesday, reaching $161.49. 1,393,850 shares of the company traded hands, compared to its average volume of 1,971,311. Diamondback Energy, Inc. has a 1-year low of $137.09 and a 1-year high of $214.50. The company has a debt-to-equity ratio of 0.31, a quick ratio of 0.42 and a current ratio of 0.45. The stock's 50 day moving average price is $157.93 and its two-hundred day moving average price is $169.57. The company has a market cap of $46.74 billion, a price-to-earnings ratio of 9.24, a P/E/G ratio of 1.24 and a beta of 1.85.

Diamondback Energy (NASDAQ:FANG - Get Free Report) last announced its quarterly earnings results on Tuesday, February 25th. The oil and natural gas company reported $3.64 earnings per share for the quarter, beating analysts' consensus estimates of $3.57 by $0.07. The firm had revenue of $3.71 billion for 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, analysts anticipate that Diamondback Energy, Inc. will post 15.49 EPS for the current year.

Diamondback Energy Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, March 13th. Stockholders of record on Thursday, March 6th were issued a dividend of $1.00 per share. This is a positive change from Diamondback Energy's previous quarterly dividend of $0.90. The ex-dividend date of this dividend was Thursday, March 6th. This represents a $4.00 annualized dividend and a dividend yield of 2.48%. 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.