195,000 Shares in Diamondback Energy, Inc. (NASDAQ:FANG) Acquired by MUFG Securities EMEA plc

Key Points

• MUFG Securities EMEA plc purchased 195,000 shares of Diamondback Energy, Inc., valued at approximately $31.18 million, now constituting 0.7% of its investment portfolio.
• Diamondback Energy reported a quarterly earnings per share (EPS) of $2.67, which was below analysts' estimates of $2.72, but its revenue increased by 48.1% compared to the previous year's quarter.
• The company will pay a quarterly dividend of $1.00 on August 21st, representing an annual yield of 2.8%, with a payout ratio of 28.43%.

MUFG Securities EMEA plc bought a new stake in shares of Diamondback Energy, Inc. (NASDAQ:FANG - Free Report) in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 195,000 shares of the oil and natural gas company's stock, valued at approximately $31,177,000. Diamondback Energy accounts for about 0.7% of MUFG Securities EMEA plc's portfolio, making the stock its 14th largest holding. MUFG Securities EMEA plc owned about 0.07% of Diamondback Energy at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. BankPlus Trust Department purchased a new stake in Diamondback Energy in the 1st quarter worth approximately $27,000. Pinnacle Bancorp Inc. lifted its stake in Diamondback Energy by 95.7% in the 1st quarter. Pinnacle Bancorp Inc. now owns 180 shares of the oil and natural gas company's stock worth $29,000 after purchasing an additional 88 shares in the last quarter. Grove Bank & Trust lifted its stake in Diamondback Energy by 65.0% in the 1st quarter. Grove Bank & Trust now owns 203 shares of the oil and natural gas company's stock worth $32,000 after purchasing an additional 80 shares in the last quarter. WASHINGTON TRUST Co lifted its stake in Diamondback Energy by 119.8% in the 1st quarter. WASHINGTON TRUST Co now owns 200 shares of the oil and natural gas company's stock worth $32,000 after purchasing an additional 109 shares in the last quarter. Finally, Fourth Dimension Wealth LLC purchased a new stake in Diamondback Energy in the 4th quarter worth approximately $33,000. 90.01% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

FANG has been the topic of several recent research reports. Raymond James Financial increased their target price on shares of Diamondback Energy from $204.00 to $221.00 and gave the company a "strong-buy" rating in a report on Tuesday, July 22nd. Royal Bank Of Canada assumed coverage on shares of Diamondback Energy in a research report on Friday, May 2nd. They issued an "outperform" rating and a $180.00 target price for the company. Morgan Stanley reissued an "overweight" rating on shares of Diamondback Energy in a research report on Tuesday, July 15th. Mizuho decreased their target price on shares of Diamondback Energy from $186.00 to $179.00 and set an "outperform" rating for the company in a report on Tuesday, May 13th. Finally, UBS Group decreased their target price on shares of Diamondback Energy from $175.00 to $163.00 and set a "buy" rating for the company in a report on Thursday, April 17th. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating, eighteen have given a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat, Diamondback Energy has an average rating of "Moderate Buy" and an average target price of $191.59.

Insider Activity

In other news, Chairman Travis D. Stice sold 20,400 shares of the stock in a transaction that occurred on Thursday, August 7th. The shares were sold at an average price of $142.80, for a total transaction of $2,913,120.00. Following the transaction, the chairman directly owned 102,145 shares in the company, valued at approximately $14,586,306. This trade represents a 16.65% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 0.48% of the company's stock.

Diamondback Energy Stock Down 3.7%

FANG traded down $5.19 on Monday, hitting $136.84. The company had a trading volume of 3,042,377 shares, compared to its average volume of 2,058,223. Diamondback Energy, Inc. has a 52-week low of $114.00 and a 52-week high of $202.87. The stock has a fifty day simple moving average of $143.67 and a 200-day simple moving average of $145.51. The firm has a market capitalization of $39.61 billion, a P/E ratio of 9.73 and a beta of 1.09. The company has a debt-to-equity ratio of 0.35, a current ratio of 0.55 and a quick ratio of 0.52.

Diamondback Energy (NASDAQ:FANG - Get Free Report) last posted its earnings results on Monday, August 4th. The oil and natural gas company reported $2.67 EPS for the quarter, missing analysts' consensus estimates of $2.72 by ($0.05). Diamondback Energy had a return on equity of 9.48% and a net margin of 27.25%. The company had revenue of $3.68 billion during the quarter, compared to the consensus estimate of $3.35 billion. During the same period last year, the firm posted $4.52 EPS. The company's revenue for the quarter was up 48.1% on a year-over-year basis. As a group, equities analysts expect that Diamondback Energy, Inc. will post 15.49 EPS for the current fiscal year.

Diamondback Energy Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, August 21st. Stockholders of record on Thursday, August 14th will be given a dividend of $1.00 per share. This represents a $4.00 annualized dividend and a dividend yield of 2.9%. The ex-dividend date is Thursday, August 14th. Diamondback Energy's dividend payout ratio is currently 28.43%.

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.