Mitsubishi UFJ Trust & Banking Corp Sells 8,242 Shares of Diamondback Energy, Inc. $FANG

Mitsubishi UFJ Trust & Banking Corp lowered its position in Diamondback Energy, Inc. (NASDAQ:FANG) by 8.4% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 89,723 shares of the oil and natural gas company’s stock after selling 8,242 shares during the period. Mitsubishi UFJ Trust & Banking Corp’s holdings in Diamondback Energy were worth $12,328,000 as of its most recent SEC filing.

Other large investors have also recently modified their holdings of the company. Nuveen LLC purchased a new position in Diamondback Energy in the first 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 worth $77,622,000. Wellington Management Group LLP boosted its position in shares of Diamondback Energy by 27.3% in the 1st 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 purchasing an additional 418,431 shares in the last quarter. Bank of New York Mellon Corp grew its stake in Diamondback Energy by 9.0% during the 2nd 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 buying an additional 384,971 shares during the last quarter. Finally, Boston Partners increased its position in Diamondback Energy by 4.8% during the 1st quarter. Boston Partners now owns 5,418,840 shares of the oil and natural gas company’s stock valued at $861,961,000 after buying an additional 249,098 shares in the last quarter. Institutional investors own 90.01% of the company’s stock.

Diamondback Energy Price Performance

Shares of NASDAQ FANG opened at $149.20 on Friday. Diamondback Energy, Inc. has a 52 week low of $114.00 and a 52 week high of $186.07. The business’s 50 day moving average price is $142.52 and its 200 day moving average price is $142.08. The company has a quick ratio of 0.60, a current ratio of 0.62 and a debt-to-equity ratio of 0.35. The firm has a market cap of $42.75 billion, a P/E ratio of 10.37 and a beta of 0.99.

Diamondback Energy (NASDAQ:FANG) last posted its quarterly earnings results on Monday, November 3rd. The oil and natural gas company reported $3.08 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.94 by $0.14. The company had revenue of $3.92 billion during 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 revenue for the quarter was up 48.4% compared to the same quarter last year. During the same period last year, the firm posted $3.19 EPS. On average, sell-side analysts expect that Diamondback Energy, Inc. will post 15.49 earnings per share for the current year.

Diamondback Energy Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, November 20th. Shareholders of record on Thursday, November 13th will be paid a dividend of $1.00 per share. The ex-dividend date is Thursday, November 13th. This represents a $4.00 dividend on an annualized basis and a dividend yield of 2.7%. Diamondback Energy’s dividend payout ratio (DPR) is presently 27.80%.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on FANG. Barclays lowered their price target on Diamondback Energy from $185.00 to $178.00 and set an “overweight” rating for the company in a report on Tuesday, October 7th. Susquehanna decreased their price objective on shares of Diamondback Energy to $188.00 and set a “positive” rating for the company in a research report on Monday, October 20th. Roth Capital set a $162.00 target price on shares of Diamondback Energy and gave the stock a “buy” rating in a research note on Tuesday, November 4th. Wells Fargo & Company dropped their target price on shares of Diamondback Energy from $211.00 to $160.00 and set an “overweight” rating on the stock in a research report on Friday, October 17th. Finally, Weiss Ratings reaffirmed a “hold (c)” rating on shares of Diamondback Energy in a report on Thursday. Two equities research analysts have rated the stock with a Strong Buy rating, twenty have issued a Buy rating and one has given a Hold rating to the company. According to data from MarketBeat, the company currently has an average rating of “Buy” and a consensus price target of $188.55.

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.