Diamondback Energy, Inc. (NASDAQ:FANG) Shares Bought by Meiji Yasuda Asset Management Co Ltd.

Meiji Yasuda Asset Management Co Ltd. grew its position in Diamondback Energy, Inc. (NASDAQ:FANG) by 8.3% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm 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.

Other hedge funds have also modified their holdings of the company. Wintrust Investments LLC acquired a new position in Diamondback Energy in the 4th quarter worth about $28,000. R Squared Ltd purchased a new stake in shares of Diamondback Energy in the fourth quarter valued at approximately $29,000. UMB Bank n.a. raised its stake in shares of 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 worth $31,000 after buying an additional 136 shares during the period. Key Financial Inc grew its stake 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 acquiring an additional 188 shares during the period. Finally, Rakuten Securities Inc. increased its holdings 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. 90.01% of the stock is owned by hedge funds and other institutional investors.

Diamondback Energy Trading Down 1.8 %

NASDAQ FANG opened at $160.23 on Friday. The company has a debt-to-equity ratio of 0.31, a current ratio of 0.45 and a quick ratio of 0.42. The stock 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 firm’s 50-day moving average is $159.11 and its two-hundred day moving average is $169.88. Diamondback Energy, Inc. has a 12 month low of $137.09 and a 12 month high of $214.50.

Diamondback Energy (NASDAQ:FANG) last issued its quarterly earnings data on Tuesday, February 25th. The oil and natural gas company reported $3.64 EPS for the quarter, topping the consensus estimate of $3.57 by $0.07. Diamondback Energy had a net margin of 33.64% and a return on equity of 13.68%. The firm had revenue of $3.71 billion for the quarter, compared to analyst estimates of $3.55 billion. On average, sell-side analysts anticipate that Diamondback Energy, Inc. will post 15.49 earnings per share 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 paid a $1.00 dividend. The ex-dividend date was Thursday, March 6th. This is a boost from Diamondback Energy’s previous quarterly dividend of $0.90. This represents a $4.00 dividend on an annualized basis and a dividend yield of 2.50%. Diamondback Energy’s payout ratio is presently 25.32%.

Insider Activity at Diamondback Energy

In other news, Director Frank D. Tsuru bought 2,000 shares of the company’s stock in a transaction on Friday, February 28th. The stock was bought at an average cost of $156.51 per share, with a total value of $313,020.00. Following the transaction, the director now directly owns 5,730 shares in the company, valued at $896,802.30. The trade was a 53.62 % increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 0.48% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on the stock. Truist Financial increased their price objective on shares of Diamondback Energy from $236.00 to $238.00 and gave the company a “buy” rating in a report on Wednesday, February 19th. JPMorgan Chase & Co. decreased their price target on shares of Diamondback Energy from $212.00 to $167.00 and set an “overweight” rating on the stock in a research note on Thursday, March 13th. Royal Bank of Canada reiterated an “outperform” rating and set a $210.00 price objective on shares of Diamondback Energy in a research note on Thursday, January 23rd. Citigroup decreased their target price on Diamondback Energy from $195.00 to $157.00 and set a “neutral” rating on the stock in a research report on Monday, March 17th. Finally, Williams Trading set a $190.00 price objective on Diamondback Energy in a research note on Wednesday, March 5th. Four research analysts have rated the stock with a hold rating, eighteen have given a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $209.33.

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.