Nissay Asset Management Corp Japan Has $12.55 Million Position in Diamondback Energy, Inc. $FANG

Nissay Asset Management Corp Japan increased its holdings in shares of Diamondback Energy, Inc. (NASDAQ:FANG) by 7.1% during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 71,414 shares of the oil and natural gas company’s stock after acquiring an additional 4,743 shares during the period. Nissay Asset Management Corp Japan’s holdings in Diamondback Energy were worth $12,553,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in FANG. Laurel Wealth Advisors LLC bought a new position in Diamondback Energy during the fourth quarter worth about $26,000. Cedar Mountain Advisors LLC acquired a new stake in Diamondback Energy during the first quarter valued at approximately $26,000. JPL Wealth Management LLC acquired a new stake in Diamondback Energy during the third quarter valued at approximately $26,000. Wellington Shields & Co. LLC grew its stake in shares of Diamondback Energy by 264.7% in the 4th quarter. Wellington Shields & Co. LLC now owns 186 shares of the oil and natural gas company’s stock valued at $28,000 after purchasing an additional 135 shares during the period. Finally, Meeder Asset Management Inc. bought a new stake in shares of Diamondback Energy in the 2nd quarter valued at approximately $28,000. Institutional investors own 90.01% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on the company. Wall Street Zen raised Diamondback Energy from a “hold” rating to a “buy” rating in a report on Saturday, August 8th. Wolfe Research reaffirmed an “outperform” rating and issued a $206.00 price target on shares of Diamondback Energy in a research note on Tuesday, August 4th. Wells Fargo & Company upped their price target on Diamondback Energy from $262.00 to $263.00 and gave the company an “overweight” rating in a research report on Wednesday, August 5th. Zacks Research lowered Diamondback Energy from a “strong-buy” rating to a “hold” rating in a research note on Thursday, May 28th. Finally, Mizuho lifted their price objective on Diamondback Energy from $220.00 to $240.00 and gave the company an “outperform” rating in a report on Wednesday, May 27th. Four analysts have rated the stock with a Strong Buy rating, fifteen have issued a Buy rating and five have assigned a Hold rating to the company. Based on data from MarketBeat, Diamondback Energy currently has an average rating of “Moderate Buy” and a consensus target price of $222.21.

Diamondback Energy Price Performance

Shares of Diamondback Energy stock opened at $197.67 on Friday. The company has a current ratio of 0.47, a quick ratio of 0.45 and a debt-to-equity ratio of 0.25. The stock has a market capitalization of $55.35 billion, a price-to-earnings ratio of 38.53 and a beta of 0.43. Diamondback Energy, Inc. has a 1-year low of $134.30 and a 1-year high of $216.90. The firm’s 50-day moving average price is $193.25 and its two-hundred day moving average price is $190.49.

Diamondback Energy (NASDAQ:FANG) last posted its quarterly earnings data on Monday, August 3rd. The oil and natural gas company reported $6.48 earnings per share for the quarter, topping the consensus estimate of $6.08 by $0.40. Diamondback Energy had a net margin of 8.58% and a return on equity of 10.10%. The company had revenue of $5.56 billion during the quarter, compared to analyst estimates of $4.89 billion. During the same quarter last year, the business posted $2.38 earnings per share. The company’s revenue was up 51.2% on a year-over-year basis. On average, equities analysts predict that Diamondback Energy, Inc. will post 20.13 earnings per share for the current fiscal year.

Diamondback Energy Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, August 20th. Investors of record on Thursday, August 13th were issued a dividend of $1.10 per share. This represents a $4.40 dividend on an annualized basis and a yield of 2.2%. The ex-dividend date of this dividend was Thursday, August 13th. Diamondback Energy’s dividend payout ratio (DPR) is currently 85.77%.

Insiders Place Their Bets

In other Diamondback Energy news, Director Charles Alvin Meloy sold 33,333 shares of the business’s stock in a transaction on Monday, August 3rd. The stock was sold at an average price of $198.41, for a total value of $6,613,600.53. Following the transaction, the director owned 818,197 shares of the company’s stock, valued at approximately $162,338,466.77. The trade was a 3.91% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CAO Teresa L. Dick sold 7,000 shares of the stock in a transaction on Tuesday, June 2nd. The stock was sold at an average price of $200.90, for a total value of $1,406,300.00. Following the sale, the chief accounting officer owned 85,755 shares in the company, valued at $17,228,179.50. The trade was a 7.55% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders sold 129,167 shares of company stock valued at $24,714,309. Company insiders own 0.64% of the company’s stock.

About Diamondback Energy

Diamondback Energy, Inc (NASDAQ: FANG) is an independent oil and natural gas company focused on the development, exploration and production of unconventional resources in the Permian Basin. Headquartered in Midland, Texas, the company concentrates its operations in the core Midland and Delaware sub‑basins of West Texas and southeastern New Mexico, where it pursues contiguous acreage positions to support repeatable drilling programs.

Diamondback’s activities span the upstream value chain, including leasehold acquisition, well planning, drilling, completion and production optimization.