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

Mitsubishi UFJ Asset Management Co. Ltd. lifted its stake in Diamondback Energy, Inc. (NASDAQ:FANG) by 7.3% in the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 386,866 shares of the oil and natural gas company’s stock after buying an additional 26,311 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. owned about 0.13% of Diamondback Energy worth $53,155,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in FANG. BankPlus Trust Department bought a new stake in shares of Diamondback Energy in the 1st quarter worth approximately $27,000. Creekmur Asset Management LLC bought a new stake in shares of Diamondback Energy during the second quarter valued at approximately $28,000. SouthState Corp raised its stake in shares of Diamondback Energy by 596.4% in the first quarter. SouthState Corp now owns 195 shares of the oil and natural gas company’s stock valued at $31,000 after purchasing an additional 167 shares in the last quarter. Eastern Bank lifted its position in Diamondback Energy by 119.8% in the first quarter. Eastern Bank now owns 233 shares of the oil and natural gas company’s stock worth $37,000 after purchasing an additional 127 shares during the period. Finally, Zions Bancorporation National Association UT acquired a new stake in Diamondback Energy during the first quarter worth $43,000. 90.01% of the stock is owned by institutional investors and hedge funds.

Diamondback Energy Price Performance

Shares of Diamondback Energy stock opened at $143.65 on Monday. The company has a current ratio of 0.62, a quick ratio of 0.60 and a debt-to-equity ratio of 0.35. The stock has a market capitalization of $41.16 billion, a price-to-earnings ratio of 9.98 and a beta of 0.99. Diamondback Energy, Inc. has a 1-year low of $114.00 and a 1-year high of $186.07. The firm’s 50-day moving average price is $142.31 and its two-hundred day moving average price is $141.78.

Diamondback Energy (NASDAQ:FANG) last posted its earnings results on Monday, November 3rd. The oil and natural gas company reported $3.08 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.94 by $0.14. The company had revenue of $3.92 billion during the quarter, compared to analysts’ expectations 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 in the previous year, the company posted $3.19 earnings per share. On average, equities analysts predict that Diamondback Energy, Inc. will post 15.49 earnings per share for the current fiscal year.

Diamondback Energy Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, November 20th. Shareholders of record on Thursday, November 13th will be given a $1.00 dividend. The ex-dividend date is Thursday, November 13th. This represents a $4.00 annualized dividend and a yield of 2.8%. Diamondback Energy’s payout ratio is presently 27.80%.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on FANG shares. Melius Research began coverage on shares of Diamondback Energy in a research note on Wednesday, August 20th. They issued a “buy” rating and a $213.00 price objective for the company. Raymond James Financial lowered their target price on shares of Diamondback Energy from $221.00 to $212.00 and set a “strong-buy” rating on the stock in a research note on Wednesday, August 20th. Wall Street Zen upgraded shares of Diamondback Energy from a “sell” rating to a “hold” rating in a research note on Saturday. Mizuho decreased their price objective on Diamondback Energy from $183.00 to $176.00 and set an “outperform” rating on the stock in a report on Monday, September 15th. Finally, Evercore ISI increased their target price on Diamondback Energy from $165.00 to $175.00 and gave the stock an “outperform” rating in a report on Monday, October 6th. Two equities research analysts have rated the stock with a Strong Buy rating, twenty have assigned a Buy rating and one has issued a Hold rating to the stock. According to MarketBeat.com, Diamondback Energy presently has an average rating of “Buy” and an average target price of $188.41.

Diamondback Energy 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.