Daiichi Life Insurance Co. Ltd. Makes New $1.24 Million Investment in Diamondback Energy, Inc. $FANG

Daiichi Life Insurance Co. Ltd. bought a new stake in Diamondback Energy, Inc. (NASDAQ:FANG) during the second quarter, Holdings Channel.com reports. The firm bought 7,071 shares of the oil and natural gas company’s stock, valued at approximately $1,243,000.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Deseret Mutual Benefit Administrators grew its position in shares of Diamondback Energy by 31.7% during the fourth quarter. Deseret Mutual Benefit Administrators now owns 274 shares of the oil and natural gas company’s stock worth $41,000 after acquiring an additional 66 shares during the last quarter. Scotia Capital Inc. lifted its position in Diamondback Energy by 0.3% in the 3rd quarter. Scotia Capital Inc. now owns 19,719 shares of the oil and natural gas company’s stock valued at $2,822,000 after purchasing an additional 68 shares during the last quarter. Capital Financial Group Inc. Co. ADV boosted its stake in Diamondback Energy by 2.1% during the 1st quarter. Capital Financial Group Inc. Co. ADV now owns 3,584 shares of the oil and natural gas company’s stock valued at $709,000 after purchasing an additional 75 shares during the period. Physician Wealth Advisors Inc. boosted its stake in Diamondback Energy by 40.0% during the 4th quarter. Physician Wealth Advisors Inc. now owns 301 shares of the oil and natural gas company’s stock valued at $45,000 after purchasing an additional 86 shares during the period. Finally, Kestra Private Wealth Services LLC boosted its stake in Diamondback Energy by 0.5% during the 3rd quarter. Kestra Private Wealth Services LLC now owns 17,564 shares of the oil and natural gas company’s stock valued at $2,513,000 after purchasing an additional 86 shares during the period. Institutional investors and hedge funds own 90.01% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on the stock. UBS Group dropped their price target on shares of Diamondback Energy from $246.00 to $243.00 and set a “buy” rating on the stock in a research note on Tuesday, July 21st. Zacks Research downgraded Diamondback Energy from a “strong-buy” rating to a “hold” rating in a research report on Thursday, May 28th. Roth Capital set a $212.00 price objective on Diamondback Energy and gave the stock a “buy” rating in a report on Monday, June 22nd. Truist Financial raised their target price on Diamondback Energy from $220.00 to $224.00 and gave the company a “buy” rating in a research report on Wednesday, August 5th. Finally, Jefferies Financial Group reaffirmed a “hold” rating and set a $205.00 target price on shares of Diamondback Energy in a research note on Sunday, August 9th. Four research analysts have rated the stock with a Strong Buy rating, fifteen have issued a Buy rating and five have issued a Hold rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $222.21.

Insider Transactions at Diamondback Energy

In other Diamondback Energy news, Director Charles Alvin Meloy sold 33,333 shares of the company’s stock in a transaction that occurred 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 completion of the sale, the director directly owned 818,197 shares in the company, valued at $162,338,466.77. This represents a 3.91% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Matt Zmigrosky sold 5,000 shares of the company’s stock in a transaction that occurred on Monday, June 1st. The stock was sold at an average price of $200.54, for a total value of $1,002,700.00. Following the completion of the sale, the executive vice president owned 46,392 shares of the company’s stock, valued at $9,303,451.68. This trade represents a 9.73% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 129,167 shares of company stock worth $24,714,309 in the last three months. 0.64% of the stock is currently owned by company insiders.

Diamondback Energy Stock Performance

Shares of FANG opened at $205.60 on Tuesday. The firm has a market capitalization of $57.57 billion, a PE ratio of 40.08 and a beta of 0.43. The company has a quick ratio of 0.45, a current ratio of 0.47 and a debt-to-equity ratio of 0.25. The firm has a 50-day moving average price of $192.10 and a 200 day moving average price of $189.74. Diamondback Energy, Inc. has a 52-week low of $134.30 and a 52-week high of $216.90.

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

Diamondback Energy Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, August 20th. Investors of record on Thursday, August 13th were paid a dividend of $1.10 per share. This represents a $4.40 dividend on an annualized basis and a dividend yield of 2.1%. The ex-dividend date was Thursday, August 13th. Diamondback Energy’s dividend payout ratio (DPR) is currently 85.77%.

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.