Mitsubishi UFJ Trust & Banking Corp Purchases 4,085 Shares of Diamondback Energy, Inc. (NASDAQ:FANG)

Mitsubishi UFJ Trust & Banking Corp boosted its position in shares of Diamondback Energy, Inc. (NASDAQ:FANG) by 4.2% during the 4th quarter, HoldingsChannel reports. The firm owned 100,797 shares of the oil and natural gas company’s stock after buying an additional 4,085 shares during the period. Mitsubishi UFJ Trust & Banking Corp’s holdings in Diamondback Energy were worth $16,514,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also bought and sold shares of the company. Wintrust Investments LLC purchased a new position in shares of Diamondback Energy during the fourth quarter valued at $28,000. R Squared Ltd purchased a new position in Diamondback Energy during the 4th quarter valued at about $29,000. UMB Bank n.a. raised its holdings in shares of Diamondback Energy by 247.3% in the 4th quarter. UMB Bank n.a. now owns 191 shares of the oil and natural gas company’s stock valued at $31,000 after purchasing an additional 136 shares in the last quarter. Key Financial Inc lifted its position in shares of 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 worth $34,000 after purchasing an additional 188 shares during the period. Finally, Rakuten Securities Inc. boosted its stake in shares of Diamondback Energy by 62.4% during the fourth quarter. Rakuten Securities Inc. now owns 276 shares of the oil and natural gas company’s stock valued at $45,000 after purchasing an additional 106 shares in the last quarter. 90.01% of the stock is owned by institutional investors.

Insider Buying and Selling

In related news, Director Frank D. Tsuru acquired 2,000 shares of the stock in a transaction on Friday, February 28th. The shares were acquired at an average price of $156.51 per share, for a total transaction of $313,020.00. Following the transaction, the director now owns 5,730 shares in the company, valued at approximately $896,802.30. This trade represents a 53.62 % increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.48% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

A number of analysts have weighed in on the company. Morgan Stanley lowered their target price on Diamondback Energy from $227.00 to $206.00 and set an “overweight” rating for the company in a report on Thursday. Piper Sandler decreased their price objective on Diamondback Energy from $252.00 to $232.00 and set an “overweight” rating for the company in a research note on Tuesday, December 17th. Citigroup cut their target price on Diamondback Energy from $195.00 to $157.00 and set a “neutral” rating on the stock in a research note on Monday, March 17th. Wells Fargo & Company decreased their price target on shares of Diamondback Energy from $219.00 to $215.00 and set an “overweight” rating for the company in a research report on Wednesday, March 12th. Finally, UBS Group boosted their price objective on shares of Diamondback Energy from $212.00 to $216.00 and gave the stock a “buy” rating in a research note on Thursday, February 13th. Four research analysts have rated the stock with a hold rating, eighteen have issued a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $209.33.

Diamondback Energy Stock Performance

Shares of NASDAQ FANG opened at $157.54 on Friday. The company has a 50 day simple moving average of $158.66 and a two-hundred day simple moving average of $169.73. The stock has a market cap of $45.60 billion, a price-to-earnings ratio of 9.02, a PEG ratio of 1.24 and a beta of 1.85. 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, Inc. has a 12 month low of $137.09 and a 12 month high of $214.50.

Diamondback Energy (NASDAQ:FANG) last posted its earnings results on Tuesday, February 25th. The oil and natural gas company reported $3.64 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.57 by $0.07. The company had revenue of $3.71 billion during the quarter, compared to the consensus estimate of $3.55 billion. Diamondback Energy had a net margin of 33.64% and a return on equity of 13.68%. As a group, analysts predict that Diamondback Energy, Inc. will post 15.49 earnings per share for the current year.

Diamondback Energy Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, March 13th. Stockholders of record on Thursday, March 6th were paid a $1.00 dividend. This is an increase from Diamondback Energy’s previous quarterly dividend of $0.90. The ex-dividend date was Thursday, March 6th. This represents a $4.00 dividend on an annualized basis and a dividend yield of 2.54%. Diamondback Energy’s dividend payout ratio is presently 25.32%.

Diamondback Energy Company Profile

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.