Sumitomo Mitsui Trust Group Inc. Buys 4,648 Shares of Diamondback Energy, Inc. (NASDAQ:FANG)

Sumitomo Mitsui Trust Group Inc. lifted its position in shares of Diamondback Energy, Inc. (NASDAQ:FANG - Free Report) by 1.0% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 460,944 shares of the oil and natural gas company's stock after purchasing an additional 4,648 shares during the quarter. Sumitomo Mitsui Trust Group Inc. owned 0.16% of Diamondback Energy worth $73,696,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Oppenheimer & Co. Inc. increased its stake in Diamondback Energy by 4.5% during the 4th quarter. Oppenheimer & Co. Inc. now owns 15,886 shares of the oil and natural gas company's stock worth $2,603,000 after purchasing an additional 678 shares in the last quarter. QRG Capital Management Inc. boosted its holdings in shares of Diamondback Energy by 38.4% in the fourth quarter. QRG Capital Management Inc. now owns 11,675 shares of the oil and natural gas company's stock valued at $1,913,000 after buying an additional 3,238 shares during the period. Private Trust Co. NA increased its position in shares of Diamondback Energy by 4.8% during the fourth quarter. Private Trust Co. NA now owns 1,516 shares of the oil and natural gas company's stock worth $248,000 after acquiring an additional 69 shares in the last quarter. SVB Wealth LLC acquired a new stake in shares of Diamondback Energy during the fourth quarter worth $322,000. Finally, Metis Global Partners LLC lifted its position in Diamondback Energy by 10.5% in the 4th quarter. Metis Global Partners LLC now owns 8,493 shares of the oil and natural gas company's stock valued at $1,391,000 after acquiring an additional 804 shares in the last quarter. Institutional investors and hedge funds own 90.01% of the company's stock.

Insider Transactions at Diamondback Energy

In other Diamondback Energy news, President Hof Matthew Kaes Van't sold 10,000 shares of the stock in a transaction on Monday, May 12th. The stock was sold at an average price of $142.69, for a total transaction of $1,426,900.00. Following the transaction, the president owned 120,645 shares in the company, valued at $17,214,835.05. This trade represents a 7.65% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.70% of the stock is owned by company insiders.

Analyst Ratings Changes

A number of equities analysts have issued reports on FANG shares. KeyCorp lowered their target price on Diamondback Energy from $216.00 to $180.00 and set an "overweight" rating for the company in a report on Monday, April 21st. Barclays reduced their price objective on Diamondback Energy from $200.00 to $185.00 and set an "overweight" rating for the company in a research report on Wednesday, April 23rd. Piper Sandler dropped their target price on Diamondback Energy from $234.00 to $225.00 and set an "overweight" rating on the stock in a research report on Tuesday, May 13th. Evercore ISI started coverage on Diamondback Energy in a research note on Tuesday, May 6th. They issued an "outperform" rating and a $165.00 target price on the stock. Finally, Bank of America raised their price target on shares of Diamondback Energy from $165.00 to $170.00 and gave the stock a "buy" rating in a research note on Friday, May 23rd. Two analysts have rated the stock with a hold rating, nineteen have given a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat.com, Diamondback Energy presently has a consensus rating of "Buy" and an average target price of $193.13.

Diamondback Energy Stock Performance

Shares of NASDAQ FANG traded down $1.22 during midday trading on Friday, hitting $140.75. 1,199,623 shares of the company's stock were exchanged, compared to its average volume of 2,276,925. The company has a quick ratio of 0.83, a current ratio of 0.86 and a debt-to-equity ratio of 0.31. The firm has a market capitalization of $41.12 billion, a PE ratio of 8.61 and a beta of 1.05. Diamondback Energy, Inc. has a 12 month low of $114.00 and a 12 month high of $214.50. The company's 50 day moving average price is $140.34 and its 200 day moving average price is $150.17.

Diamondback Energy (NASDAQ:FANG - Get Free Report) last released its quarterly earnings data on Monday, May 5th. The oil and natural gas company reported $4.54 EPS for the quarter, beating the consensus estimate of $3.67 by $0.87. The firm had revenue of $4.05 billion for the quarter, compared to the consensus estimate of $3.58 billion. Diamondback Energy had a net margin of 30.84% and a return on equity of 11.22%. The company's quarterly revenue was up 81.8% on a year-over-year basis. During the same period in the previous year, the company earned $4.50 earnings per share. As a group, analysts predict that Diamondback Energy, Inc. will post 15.49 earnings per share for the current fiscal year.

Diamondback Energy Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, May 22nd. Investors of record on Thursday, May 15th were paid a $1.00 dividend. The ex-dividend date was Thursday, May 15th. This represents a $4.00 annualized dividend and a yield of 2.84%. Diamondback Energy's dividend payout ratio (DPR) is presently 24.46%.

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.