Tokio Marine Asset Management Co. Ltd. Increases Stock Holdings in Diamondback Energy, Inc. (NASDAQ:FANG)

Tokio Marine Asset Management Co. Ltd. lifted its stake in shares of Diamondback Energy, Inc. (NASDAQ:FANG) by 391.8% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 5,902 shares of the oil and natural gas company’s stock after purchasing an additional 4,702 shares during the quarter. Tokio Marine Asset Management Co. Ltd.’s holdings in Diamondback Energy were worth $1,018,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. First Community Trust NA purchased a new position in Diamondback Energy during the second quarter worth about $26,000. Carolinas Wealth Consulting LLC lifted its holdings in Diamondback Energy by 67.1% during the 2nd quarter. Carolinas Wealth Consulting LLC now owns 137 shares of the oil and natural gas company’s stock worth $27,000 after buying an additional 55 shares during the last quarter. HHM Wealth Advisors LLC acquired a new position in shares of Diamondback Energy in the 2nd quarter valued at about $40,000. Values First Advisors Inc. bought a new position in Diamondback Energy during the 3rd quarter worth $42,000. Finally, Founders Capital Management raised its holdings in shares of Diamondback Energy by 99.2% during the second quarter. Founders Capital Management now owns 251 shares of the oil and natural gas company’s stock valued at $50,000 after buying an additional 125 shares during the last quarter. 90.01% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities research analysts recently commented on the company. Truist Financial boosted their target price on Diamondback Energy from $220.00 to $230.00 and gave the stock a “buy” rating in a report on Wednesday, October 16th. Evercore ISI lowered their price objective on shares of Diamondback Energy from $235.00 to $209.00 and set an “outperform” rating on the stock in a research note on Monday, September 30th. BMO Capital Markets upgraded shares of Diamondback Energy from a “market perform” rating to an “outperform” rating and lifted their price target for the stock from $205.00 to $215.00 in a research report on Friday, October 4th. JPMorgan Chase & Co. assumed coverage on Diamondback Energy in a research report on Wednesday, October 2nd. They set an “overweight” rating and a $182.00 target price on the stock. Finally, Susquehanna decreased their target price on shares of Diamondback Energy from $237.00 to $233.00 and set a “positive” rating for the company in a report on Friday, October 18th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating, seventeen have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $209.64.

Diamondback Energy Trading Down 3.2 %

FANG opened at $176.60 on Friday. The firm has a 50-day moving average price of $181.23 and a two-hundred day moving average price of $191.63. The stock has a market capitalization of $51.57 billion, a PE ratio of 10.11, a PEG ratio of 1.30 and a beta of 1.89. Diamondback Energy, Inc. has a 1-year low of $145.70 and a 1-year high of $214.50. 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 (NASDAQ:FANG) last released its earnings results on Monday, November 4th. The oil and natural gas company reported $3.38 earnings per share for the quarter, missing the consensus estimate of $4.62 by ($1.24). The company had revenue of $2.65 billion during the quarter, compared to analyst estimates of $2.43 billion. Diamondback Energy had a net margin of 33.64% and a return on equity of 13.68%. The company’s quarterly revenue was up 13.0% compared to the same quarter last year. During the same period in the previous year, the company posted $5.49 EPS. As a group, equities analysts anticipate that Diamondback Energy, Inc. will post 16.78 earnings per share for the current fiscal year.

Diamondback Energy Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, November 21st. Investors of record on Thursday, November 14th will be given a $0.90 dividend. The ex-dividend date is Thursday, November 14th. This represents a $3.60 annualized dividend and a dividend yield of 2.04%. Diamondback Energy’s dividend payout ratio is presently 20.61%.

Insider Transactions at Diamondback Energy

In related news, major shareholder Lyndal Greth sold 13,212,830 shares of Diamondback Energy stock in a transaction dated Monday, September 23rd. The stock was sold at an average price of $175.11, for a total transaction of $2,313,698,661.30. Following the completion of the transaction, the insider now owns 1,037,819 shares in the company, valued at approximately $181,732,485.09. This trade represents a 92.72 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Mark Lawrence Plaumann sold 1,150 shares of the business’s stock in a transaction that occurred on Wednesday, November 13th. The stock was sold at an average price of $181.00, for a total value of $208,150.00. Following the transaction, the director now directly owns 4,712 shares in the company, valued at $852,872. The trade was a 19.62 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.48% of the stock is owned by insiders.

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.