Mitsubishi UFJ Asset Management Co. Ltd. Has $53.16 Million Stake in Diamondback Energy, Inc. $FANG

Mitsubishi UFJ Asset Management Co. Ltd. increased its stake in shares of Diamondback Energy, Inc. (NASDAQ:FANG) by 7.3% during the 2nd quarter, Holdings Channel.com reports. The firm owned 386,866 shares of the oil and natural gas company’s stock after acquiring an additional 26,311 shares during the quarter. Mitsubishi UFJ Asset Management Co. Ltd.’s holdings in Diamondback Energy were worth $53,155,000 at the end of the most recent reporting period.

Several other institutional investors have also recently bought and sold shares of FANG. Nuveen LLC acquired a new position in Diamondback Energy during the 1st quarter worth $230,039,000. Adage Capital Partners GP L.L.C. acquired a new stake in shares of Diamondback Energy in the 1st quarter valued at $77,622,000. Wellington Management Group LLP raised its position in shares of Diamondback Energy by 27.3% during the first quarter. Wellington Management Group LLP now owns 1,950,160 shares of the oil and natural gas company’s stock worth $311,792,000 after acquiring an additional 418,431 shares during the last quarter. Bank of New York Mellon Corp raised its position in shares of Diamondback Energy by 9.0% during the second quarter. Bank of New York Mellon Corp now owns 4,642,218 shares of the oil and natural gas company’s stock worth $637,841,000 after acquiring an additional 384,971 shares during the last quarter. Finally, Victory Capital Management Inc. lifted its stake in shares of Diamondback Energy by 50.6% during the first quarter. Victory Capital Management Inc. now owns 1,135,759 shares of the oil and natural gas company’s stock valued at $181,585,000 after acquiring an additional 381,542 shares during the period. Institutional investors own 90.01% of the company’s stock.

Analyst Ratings Changes

FANG has been the subject of a number of research reports. Melius Research began coverage on Diamondback Energy in a research report on Wednesday, August 20th. They issued a “buy” rating and a $213.00 price objective for the company. KeyCorp lowered their price target on shares of Diamondback Energy from $180.00 to $176.00 and set an “overweight” rating for the company in a research report on Wednesday, September 3rd. Roth Capital set a $162.00 price target on shares of Diamondback Energy and gave the stock a “buy” rating in a research note on Tuesday, November 4th. Piper Sandler cut their price objective on shares of Diamondback Energy from $228.00 to $222.00 and set an “overweight” rating on the stock in a report on Thursday, August 14th. Finally, Morgan Stanley reduced their price objective on shares of Diamondback Energy from $186.00 to $184.00 and set an “overweight” rating on the stock in a research note on Tuesday, October 14th. Two analysts have rated the stock with a Strong Buy rating, twenty have issued a Buy rating and one has assigned a Hold rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Buy” and a consensus price target of $188.41.

Diamondback Energy Stock Performance

Shares of FANG stock opened at $143.65 on Monday. The company has a debt-to-equity ratio of 0.35, a current ratio of 0.62 and a quick ratio of 0.60. The stock has a market cap of $41.16 billion, a PE ratio of 9.98 and a beta of 0.99. The stock has a 50-day moving average of $142.31 and a 200-day moving average of $141.78. Diamondback Energy, Inc. has a one year low of $114.00 and a one year high of $186.07.

Diamondback Energy (NASDAQ:FANG) last released its quarterly earnings data on Monday, November 3rd. The oil and natural gas company reported $3.08 earnings per share for the quarter, topping the consensus estimate of $2.94 by $0.14. The business had revenue of $3.92 billion for the quarter, compared to analyst estimates of $3.48 billion. Diamondback Energy had a net margin of 27.32% and a return on equity of 9.57%. Diamondback Energy’s quarterly revenue was up 48.4% compared to the same quarter last year. During the same quarter last year, the firm earned $3.19 EPS. As a group, sell-side analysts expect that Diamondback Energy, Inc. will post 15.49 earnings per share for the current year.

Diamondback Energy Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, November 20th. Stockholders of record on Thursday, November 13th will be given a dividend of $1.00 per share. This represents a $4.00 dividend on an annualized basis and a dividend yield of 2.8%. The ex-dividend date of this dividend is Thursday, November 13th. Diamondback Energy’s dividend payout ratio (DPR) is currently 27.80%.

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.