Nissay Asset Management Corp Japan ADV Purchases 5,980 Shares of Diamondback Energy, Inc. $FANG

Key Points

• Nissay Asset Management Corp Japan ADV increased its holdings in Diamondback Energy, Inc. by 11.4%, owning 58,381 shares valued at approximately $9.3 million after the purchase of additional shares in the first quarter.
• Diamondback Energy reported $2.67 EPS, missing estimates by $0.05, but achieved revenues of $3.68 billion, exceeding expectations of $3.35 billion and showing a 48.1% increase from the previous year.
• The company declared a quarterly dividend of $1.00 per share, resulting in an annualized yield of 2.9% and a payout ratio of 28.43%.

Nissay Asset Management Corp Japan ADV lifted its stake in shares of Diamondback Energy, Inc. (NASDAQ:FANG - Free Report) by 11.4% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 58,381 shares of the oil and natural gas company's stock after purchasing an additional 5,980 shares during the quarter. Nissay Asset Management Corp Japan ADV's holdings in Diamondback Energy were worth $9,334,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of FANG. Investor s Fiduciary Advisor Network LLC raised its stake in shares of Diamondback Energy by 2.1% during the first quarter. Investor s Fiduciary Advisor Network LLC now owns 3,559 shares of the oil and natural gas company's stock worth $569,000 after buying an additional 74 shares during the last quarter. Mesirow Financial Investment Management Inc. boosted its position in shares of Diamondback Energy by 5.6% in the 1st quarter. Mesirow Financial Investment Management Inc. now owns 1,414 shares of the oil and natural gas company's stock worth $226,000 after purchasing an additional 75 shares during the last quarter. FourThought Financial Partners LLC increased its stake in shares of Diamondback Energy by 2.9% in the 1st quarter. FourThought Financial Partners LLC now owns 2,779 shares of the oil and natural gas company's stock valued at $444,000 after acquiring an additional 78 shares during the last quarter. Grove Bank & Trust boosted its stake in Diamondback Energy by 65.0% during the 1st quarter. Grove Bank & Trust now owns 203 shares of the oil and natural gas company's stock worth $32,000 after acquiring an additional 80 shares during the last quarter. Finally, Biondo Investment Advisors LLC grew its holdings in Diamondback Energy by 0.3% during the first quarter. Biondo Investment Advisors LLC now owns 28,858 shares of the oil and natural gas company's stock valued at $4,614,000 after purchasing an additional 80 shares during the period. Institutional investors own 90.01% of the company's stock.

Diamondback Energy Stock Down 0.7%

Shares of NASDAQ:FANG traded down $0.99 during trading on Tuesday, hitting $136.29. 2,147,893 shares of the company were exchanged, compared to its average volume of 1,652,203. Diamondback Energy, Inc. has a fifty-two week low of $114.00 and a fifty-two week high of $200.47. The stock has a market cap of $39.45 billion, a price-to-earnings ratio of 9.69 and a beta of 1.14. The company has a current ratio of 0.55, a quick ratio of 0.52 and a debt-to-equity ratio of 0.35. The firm has a fifty day moving average price of $142.93 and a two-hundred day moving average price of $142.50.

Diamondback Energy (NASDAQ:FANG - Get Free Report) last issued its earnings results on Monday, August 4th. The oil and natural gas company reported $2.67 earnings per share for the quarter, missing analysts' consensus estimates of $2.72 by ($0.05). The firm had revenue of $3.68 billion for the quarter, compared to analyst estimates of $3.35 billion. Diamondback Energy had a return on equity of 9.48% and a net margin of 27.25%.Diamondback Energy's quarterly revenue was up 48.1% on a year-over-year basis. During the same quarter in the previous year, the firm posted $4.52 earnings per share. As a group, research 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 declared a quarterly dividend, which was paid on Thursday, August 21st. Shareholders of record on Thursday, August 14th were given a dividend of $1.00 per share. This represents a $4.00 dividend on an annualized basis and a yield of 2.9%. The ex-dividend date of this dividend was Thursday, August 14th. Diamondback Energy's payout ratio is 28.43%.

Analyst Ratings Changes

Several equities analysts have recently issued reports on FANG shares. UBS Group boosted their price target on shares of Diamondback Energy from $163.00 to $171.00 and gave the company a "buy" rating in a report on Wednesday, August 20th. William Blair started coverage on Diamondback Energy in a research report on Monday, August 25th. They issued an "outperform" rating for the company. Morgan Stanley increased their target price on Diamondback Energy from $184.00 to $186.00 and gave the stock an "overweight" rating in a research note on Monday, August 18th. Bank of America lifted their price target on shares of Diamondback Energy from $165.00 to $170.00 and gave the company a "buy" rating in a research note on Friday, May 23rd. Finally, Melius started coverage on shares of Diamondback Energy in a research report on Wednesday, August 20th. They set a "buy" rating and a $213.00 price objective for the company. Two equities research analysts have rated the stock with a Strong Buy rating, twenty-one have issued a Buy rating and one has given a Hold rating to the stock. According to MarketBeat.com, Diamondback Energy presently has a consensus rating of "Buy" and an average price target of $193.17.

Insider Transactions at Diamondback Energy

In related 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 value of $2,913,120.00. Following the sale, 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 is accessible through the SEC website. 0.48% of the stock is owned by corporate insiders.

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.