Meiji Yasuda Asset Management Co Ltd. Acquires 300 Shares of Diamondback Energy, Inc. (NASDAQ:FANG)

Meiji Yasuda Asset Management Co Ltd. increased its holdings in shares of Diamondback Energy, Inc. (NASDAQ:FANG) by 8.3% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 3,906 shares of the oil and natural gas company’s stock after acquiring an additional 300 shares during the period. Meiji Yasuda Asset Management Co Ltd.’s holdings in Diamondback Energy were worth $640,000 at the end of the most recent quarter.

A number of other large investors also recently bought and sold shares of FANG. Wintrust Investments LLC bought a new stake in shares of Diamondback Energy during the fourth quarter worth $28,000. R Squared Ltd purchased a new position in Diamondback Energy in the 4th quarter worth about $29,000. UMB Bank n.a. lifted its holdings in Diamondback Energy by 247.3% during the 4th quarter. UMB Bank n.a. now owns 191 shares of the oil and natural gas company’s stock valued at $31,000 after buying an additional 136 shares in the last quarter. Key Financial Inc boosted its position in Diamondback Energy by 940.0% in the 4th quarter. Key Financial Inc now owns 208 shares of the oil and natural gas company’s stock valued at $34,000 after buying an additional 188 shares during the period. Finally, Rakuten Securities Inc. grew its stake in Diamondback Energy by 62.4% in the 4th quarter. Rakuten Securities Inc. now owns 276 shares of the oil and natural gas company’s stock worth $45,000 after acquiring an additional 106 shares in the last quarter. Hedge funds and other institutional investors own 90.01% of the company’s stock.

Insider Activity

In related news, Director Frank D. Tsuru acquired 2,000 shares of the firm’s stock in a transaction dated Friday, February 28th. The stock was acquired at an average price of $156.51 per share, with a total value of $313,020.00. Following the acquisition, the director now directly owns 5,730 shares in the company, valued at $896,802.30. This represents a 53.62 % increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders own 0.48% of the company’s stock.

Analysts Set New Price Targets

A number of analysts recently issued reports on the company. Citigroup lowered their price target on Diamondback Energy from $195.00 to $157.00 and set a “neutral” rating for the company in a report on Monday, March 17th. The Goldman Sachs Group began coverage on Diamondback Energy in a report on Monday, December 2nd. They issued a “buy” rating and a $227.00 target price for the company. Piper Sandler cut their price target on Diamondback Energy from $252.00 to $232.00 and set an “overweight” rating on the stock in a research note on Tuesday, December 17th. UBS Group upped their price objective on shares of Diamondback Energy from $212.00 to $216.00 and gave the stock a “buy” rating in a research note on Thursday, February 13th. Finally, Williams Trading set a $190.00 target price on shares of Diamondback Energy in a research report on Wednesday, March 5th. Four equities research analysts have rated the stock with a hold rating, eighteen have assigned a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $209.33.

Diamondback Energy Trading Down 1.8 %

NASDAQ:FANG opened at $160.23 on Friday. The company has a market capitalization of $46.38 billion, a P/E ratio of 9.17, a PEG 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, Inc. has a 12 month low of $137.09 and a 12 month high of $214.50. The firm has a fifty day simple moving average of $159.11 and a 200-day simple moving average of $169.88.

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

Diamondback Energy Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, March 13th. Shareholders of record on Thursday, March 6th were paid a dividend of $1.00 per share. This represents a $4.00 annualized dividend and a yield of 2.50%. This is a boost from Diamondback Energy’s previous quarterly dividend of $0.90. The ex-dividend date of this dividend was Thursday, March 6th. 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.