Diamondback Energy, Inc. (NASDAQ:FANG) Shares Bought by Resona Asset Management Co. Ltd.

Key Points

• Resona Asset Management Co. Ltd. has increased its stake in Diamondback Energy by 4.8%, now holding 57,664 shares valued at approximately $9.2 million.
• The company declared a quarterly dividend of $1.00 per share, representing a 2.9% dividend yield and a payout ratio of 28.43%.
• Diamondback Energy's stock price recently traded at $140.22, and the company reported a quarterly revenue of $3.68 billion, exceeding analyst expectations.

Resona Asset Management Co. Ltd. grew its stake in shares of Diamondback Energy, Inc. (NASDAQ:FANG - Free Report) by 4.8% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 57,664 shares of the oil and natural gas company's stock after acquiring an additional 2,658 shares during the quarter. Resona Asset Management Co. Ltd.'s holdings in Diamondback Energy were worth $9,199,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of FANG. Demars Financial Group LLC acquired a new position in shares of Diamondback Energy during the 4th quarter valued at about $638,050,000. Nuveen LLC purchased a new stake in shares of Diamondback Energy during the 1st quarter worth about $230,039,000. Alyeska Investment Group L.P. purchased a new stake in shares of Diamondback Energy during the 4th quarter worth about $185,193,000. Price T Rowe Associates Inc. MD grew its holdings in shares of Diamondback Energy by 11.3% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 9,136,645 shares of the oil and natural gas company's stock worth $1,496,859,000 after purchasing an additional 928,429 shares during the period. Finally, GAMMA Investing LLC grew its holdings in shares of Diamondback Energy by 16,197.8% during the 1st quarter. GAMMA Investing LLC now owns 605,625 shares of the oil and natural gas company's stock worth $96,827,000 after purchasing an additional 601,909 shares during the period. Institutional investors and hedge funds own 90.01% of the company's stock.

Diamondback Energy Stock Performance

FANG stock traded down $0.55 during mid-day trading on Friday, reaching $140.22. The company had a trading volume of 1,889,655 shares, compared to its average volume of 2,092,406. The company has a quick ratio of 0.52, a current ratio of 0.55 and a debt-to-equity ratio of 0.35. The stock has a market capitalization of $40.59 billion, a P/E ratio of 9.97 and a beta of 1.09. Diamondback Energy, Inc. has a one year low of $114.00 and a one year high of $200.47. The stock's 50-day simple moving average is $143.65 and its two-hundred day simple moving average is $144.58.

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 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $2.72 by ($0.05). The company had revenue of $3.68 billion during the quarter, compared to the consensus estimate of $3.35 billion. Diamondback Energy had a net margin of 27.25% and a return on equity of 9.48%. The business's quarterly revenue was up 48.1% compared to the same quarter last year. During the same quarter in the previous year, the business posted $4.52 earnings per share. Research analysts anticipate that Diamondback Energy, Inc. will post 15.49 EPS for the current year.

Diamondback Energy Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, August 21st. Shareholders of record on Thursday, August 14th will be paid a $1.00 dividend. This represents a $4.00 dividend on an annualized basis and a yield of 2.9%. The ex-dividend date is Thursday, August 14th. Diamondback Energy's dividend payout ratio (DPR) is presently 28.43%.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on FANG. Wells Fargo & Company boosted their target price on Diamondback Energy from $210.00 to $211.00 and gave the stock an "overweight" rating in a report on Thursday. Morgan Stanley reiterated an "overweight" rating on shares of Diamondback Energy in a report on Tuesday, July 15th. Raymond James Financial boosted their target price on Diamondback Energy from $204.00 to $221.00 and gave the stock a "strong-buy" rating in a report on Tuesday, July 22nd. Scotiabank reiterated an "outperform" rating on shares of Diamondback Energy in a report on Friday, July 11th. Finally, 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 price target for the company. One research analyst has rated the stock with a sell rating, one has issued a hold rating, eighteen have issued a buy rating and two have issued a strong buy rating to the company's stock. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target of $191.45.

Insider Transactions at Diamondback Energy

In other Diamondback Energy news, Chairman Travis D. Stice sold 20,400 shares of the firm's 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 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 filing with the SEC, which can be accessed through this link. Insiders own 0.70% 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.