Tokio Marine Asset Management Co. Ltd. Purchases 4,702 Shares of Diamondback Energy, Inc. (NASDAQ:FANG)

Tokio Marine Asset Management Co. Ltd. increased its stake in Diamondback Energy, Inc. (NASDAQ:FANG - Free Report) by 391.8% during the third quarter, according to its most recent Form 13F filing with the SEC. The firm owned 5,902 shares of the oil and natural gas company's stock after purchasing an additional 4,702 shares during the period. Tokio Marine Asset Management Co. Ltd.'s holdings in Diamondback Energy were worth $1,018,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also bought and sold shares of FANG. Metis Global Partners LLC raised its position in shares of Diamondback Energy by 12.3% in the 3rd quarter. Metis Global Partners LLC now owns 7,689 shares of the oil and natural gas company's stock valued at $1,326,000 after buying an additional 845 shares in the last quarter. Curi RMB Capital LLC raised its position in Diamondback Energy by 2.2% during the third quarter. Curi RMB Capital LLC now owns 48,185 shares of the oil and natural gas company's stock valued at $8,307,000 after purchasing an additional 1,053 shares in the last quarter. KBC Group NV lifted its stake in Diamondback Energy by 11.8% during the third quarter. KBC Group NV now owns 14,512 shares of the oil and natural gas company's stock worth $2,501,000 after purchasing an additional 1,531 shares during the last quarter. ICICI Prudential Asset Management Co Ltd boosted its holdings in shares of Diamondback Energy by 18.8% in the 3rd quarter. ICICI Prudential Asset Management Co Ltd now owns 2,328 shares of the oil and natural gas company's stock valued at $401,000 after purchasing an additional 369 shares in the last quarter. Finally, Oppenheimer Asset Management Inc. increased its stake in shares of Diamondback Energy by 23.3% in the 3rd quarter. Oppenheimer Asset Management Inc. now owns 56,164 shares of the oil and natural gas company's stock valued at $9,683,000 after purchasing an additional 10,626 shares during the last quarter. Institutional investors and hedge funds own 90.01% of the company's stock.

Wall Street Analyst Weigh In

Several analysts recently weighed in on FANG shares. Barclays raised Diamondback Energy from an "equal weight" rating to an "overweight" rating and reduced their price objective for the company from $216.00 to $210.00 in a research note on Wednesday, October 2nd. Scotiabank reduced their price target on shares of Diamondback Energy from $245.00 to $225.00 and set a "sector outperform" rating on the stock in a research note on Thursday, October 10th. Morgan Stanley upped their price objective on shares of Diamondback Energy from $185.00 to $198.00 and gave the stock an "overweight" rating in a research report on Monday, September 16th. Royal Bank of Canada reaffirmed an "outperform" rating and set a $210.00 target price on shares of Diamondback Energy in a research note on Wednesday, November 6th. Finally, JPMorgan Chase & Co. assumed coverage on Diamondback Energy in a research note on Wednesday, October 2nd. They issued an "overweight" rating and a $182.00 price target for the company. One analyst has rated the stock with a sell rating, five have given a hold rating, seventeen have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $209.64.

Insider Buying and Selling

In other Diamondback Energy news, major shareholder Lyndal Greth sold 13,212,830 shares of the business's stock in a transaction that occurred on Monday, September 23rd. The stock was sold at an average price of $175.11, for a total transaction of $2,313,698,661.30. Following the completion of the sale, the insider now directly owns 1,037,819 shares of the company's stock, valued at approximately $181,732,485.09. The trade was a 92.72 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Mark Lawrence Plaumann sold 1,150 shares of the stock in a transaction that occurred on Wednesday, November 13th. The stock was sold at an average price of $181.00, for a total value of $208,150.00. Following the completion of the sale, the director now directly owns 4,712 shares of the company's stock, valued at approximately $852,872. This trade represents a 19.62 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.48% of the stock is owned by company insiders.

Diamondback Energy Trading Down 3.2 %

FANG traded down $5.82 during trading on Friday, hitting $176.60. The company's stock had a trading volume of 2,123,445 shares, compared to its average volume of 1,753,036. The firm has a market capitalization of $51.57 billion, a P/E ratio of 10.11, a PEG ratio of 1.30 and a beta of 1.89. Diamondback Energy, Inc. has a twelve month low of $145.70 and a twelve month high of $214.50. The company has a quick ratio of 0.42, a current ratio of 0.45 and a debt-to-equity ratio of 0.31. The stock's fifty day moving average price is $181.16 and its 200-day moving average price is $191.43.

Diamondback Energy (NASDAQ:FANG - Get Free Report) last issued its earnings results on Monday, November 4th. The oil and natural gas company reported $3.38 earnings per share (EPS) for the quarter, missing the consensus estimate of $4.62 by ($1.24). Diamondback Energy had a return on equity of 13.68% and a net margin of 33.64%. The company had revenue of $2.65 billion for the quarter, compared to the consensus estimate of $2.43 billion. During the same period in the prior year, the company earned $5.49 earnings per share. The firm's revenue was up 13.0% compared to the same quarter last year. Analysts anticipate that Diamondback Energy, Inc. will post 16.78 EPS for the current year.

Diamondback Energy Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, November 21st. Investors of record on Thursday, November 14th will be given a $0.90 dividend. This represents a $3.60 dividend on an annualized basis and a yield of 2.04%. The ex-dividend date of this dividend is Thursday, November 14th. Diamondback Energy's payout ratio is 20.61%.

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.