Norinchukin Bank The Buys 6,786 Shares of Diamondback Energy, Inc. $FANG

Key Points

• Norinchukin Bank increased its stake in Diamondback Energy by 52.8% during the first quarter, now owning over 19,600 shares worth approximately $3.14 million.
• Diamondback Energy reported $2.67 EPS for the last quarter, missing expectations, but its revenue increased by 48.1% year-over-year to $3.68 billion.
• The company declared a quarterly dividend of $1.00 per share, resulting in an annualized dividend yield of 2.9%.

Norinchukin Bank The increased its position in Diamondback Energy, Inc. (NASDAQ:FANG - Free Report) by 52.8% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 19,641 shares of the oil and natural gas company's stock after buying an additional 6,786 shares during the quarter. Norinchukin Bank The's holdings in Diamondback Energy were worth $3,140,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Price T Rowe Associates Inc. MD increased its stake in shares of Diamondback Energy by 11.3% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 9,136,645 shares of the oil and natural gas company's stock valued at $1,496,859,000 after buying an additional 928,429 shares during the period. Boston Partners increased its stake in shares of Diamondback Energy by 4.8% in the first 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 during the period. Bank of New York Mellon Corp increased its stake in shares of Diamondback Energy by 2.3% in the first quarter. Bank of New York Mellon Corp now owns 4,257,247 shares of the oil and natural gas company's stock valued at $680,649,000 after buying an additional 94,177 shares during the period. Demars Financial Group LLC increased its stake in shares of Diamondback Energy by 5.3% in the first quarter. Demars Financial Group LLC now owns 4,102,785 shares of the oil and natural gas company's stock valued at $655,953,000 after buying an additional 208,200 shares during the period. Finally, Diamond Hill Capital Management Inc. boosted its holdings in Diamondback Energy by 4.1% in the first quarter. Diamond Hill Capital Management Inc. now owns 2,932,484 shares of the oil and natural gas company's stock valued at $468,846,000 after acquiring an additional 114,930 shares during the last quarter. Institutional investors and hedge funds own 90.01% of the company's stock.

Diamondback Energy Stock Up 3.8%

NASDAQ FANG traded up $5.28 on Friday, reaching $143.28. The company had a trading volume of 2,028,152 shares, compared to its average volume of 2,122,723. The stock has a market capitalization of $41.48 billion, a P/E ratio of 10.18 and a beta of 1.09. The company's fifty day moving average is $142.79 and its 200 day moving average is $143.54. Diamondback Energy, Inc. has a 52-week low of $114.00 and a 52-week high of $200.47. The company has a quick ratio of 0.52, a current ratio of 0.55 and a debt-to-equity ratio of 0.35.

Diamondback Energy (NASDAQ:FANG - Get Free Report) last announced its earnings results on Monday, August 4th. The oil and natural gas company reported $2.67 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.72 by ($0.05). Diamondback Energy had a net margin of 27.25% and a return on equity of 9.48%. The business had revenue of $3.68 billion for the quarter, compared to analysts' expectations of $3.35 billion. During the same period in the prior year, the business earned $4.52 earnings per share. The company's revenue for the quarter was up 48.1% compared to the same quarter last year. Sell-side analysts anticipate that Diamondback Energy, Inc. will post 15.49 earnings per share for the current fiscal year.

Diamondback Energy Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, August 21st. Stockholders of record on Thursday, August 14th were given a dividend of $1.00 per share. The ex-dividend date of this dividend was Thursday, August 14th. This represents a $4.00 annualized dividend and a dividend yield of 2.8%. Diamondback Energy's dividend payout ratio (DPR) is currently 28.43%.

Wall Street Analysts Forecast Growth

FANG has been the topic of several analyst reports. Susquehanna reduced their target price on Diamondback Energy from $192.00 to $188.00 and set a "positive" rating on the stock in a report on Wednesday, July 23rd. Royal Bank Of Canada initiated coverage on Diamondback Energy in a report on Friday, May 2nd. They issued an "outperform" rating and a $180.00 target price on the stock. Evercore ISI assumed coverage on Diamondback Energy in a report on Tuesday, May 6th. They set an "outperform" rating and a $165.00 price target on the stock. JPMorgan Chase & Co. cut their target price on Diamondback Energy from $167.00 to $161.00 and set an "overweight" rating on the stock in a report on Wednesday, May 7th. Finally, Raymond James Financial cut their target price on Diamondback Energy from $221.00 to $212.00 and set a "strong-buy" rating on the stock in a report on Wednesday. Two 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 data from MarketBeat.com, the company has a consensus rating of "Buy" and a consensus target price of $193.33.

Insider Buying and Selling at Diamondback Energy

In other news, Chairman Travis D. Stice sold 20,400 shares of the stock in a transaction on Thursday, August 7th. The stock was sold at an average price of $142.80, for a total transaction of $2,913,120.00. Following the completion of the transaction, the chairman owned 102,145 shares in the company, valued at approximately $14,586,306. This represents a 16.65% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 0.48% of the company's stock.

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.