Meiji Yasuda Asset Management Co Ltd. Takes Position in Diamondback Energy, Inc. $FANG

Meiji Yasuda Asset Management Co Ltd. purchased a new stake in Diamondback Energy, Inc. (NASDAQ:FANG) in the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 4,463 shares of the oil and natural gas company’s stock, valued at approximately $785,000.

Other hedge funds also recently modified their holdings of the company. BlackRock Inc. acquired a new stake in Diamondback Energy during the 2nd quarter worth approximately $3,303,362,000. Bank of New York Mellon Corp acquired a new stake in shares of Diamondback Energy in the second quarter valued at about $852,791,000. Diamond Hill Capital Management LLC Investment Advisor acquired a new stake in Diamondback Energy during the 2nd quarter valued at approximately $268,855,000. Wellington Management Group LLP grew its holdings in Diamondback Energy by 74.1% during the 4th quarter. Wellington Management Group LLP now owns 3,239,837 shares of the oil and natural gas company’s stock worth $487,045,000 after acquiring an additional 1,379,010 shares during the period. Finally, EnCap Energy Capital Fund XII L.P. bought a new position in shares of Diamondback Energy in the 4th quarter worth about $169,342,000. Institutional investors and hedge funds own 90.01% of the company’s stock.

Diamondback Energy Stock Down 2.8%

Diamondback Energy stock opened at $199.89 on Wednesday. Diamondback Energy, Inc. has a fifty-two week low of $134.30 and a fifty-two week high of $216.90. The stock has a market cap of $55.97 billion, a PE ratio of 38.96 and a beta of 0.43. The firm’s 50-day simple moving average is $192.34 and its 200 day simple moving average is $189.96. The company has a debt-to-equity ratio of 0.25, a quick ratio of 0.45 and a current ratio of 0.47.

Diamondback Energy (NASDAQ:FANG) last issued its quarterly earnings data on Monday, August 3rd. The oil and natural gas company reported $6.48 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $6.08 by $0.40. The business had revenue of $5.56 billion during the quarter, compared to the consensus estimate of $4.89 billion. Diamondback Energy had a net margin of 8.58% and a return on equity of 10.10%. The firm’s quarterly revenue was up 51.2% compared to the same quarter last year. During the same period in the prior year, the firm posted $2.38 EPS. Research analysts predict that Diamondback Energy, Inc. will post 20.13 EPS for the current fiscal year.

Diamondback Energy Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, August 20th. Stockholders of record on Thursday, August 13th were issued a $1.10 dividend. The ex-dividend date of this dividend was Thursday, August 13th. This represents a $4.40 annualized dividend and a dividend yield of 2.2%. Diamondback Energy’s dividend payout ratio is currently 85.77%.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on the stock. Weiss Ratings upgraded shares of Diamondback Energy from a “hold (c-)” rating to a “hold (c)” rating in a report on Friday, July 31st. Raymond James Financial restated a “strong-buy” rating and issued a $248.00 target price on shares of Diamondback Energy in a report on Friday, July 31st. Zacks Research downgraded Diamondback Energy from a “strong-buy” rating to a “hold” rating in a research note on Thursday, May 28th. Wolfe Research reissued an “outperform” rating and set a $206.00 price objective on shares of Diamondback Energy in a report on Tuesday, August 4th. Finally, Mizuho raised their target price on Diamondback Energy from $220.00 to $240.00 and gave the company an “outperform” rating in a report on Wednesday, May 27th. Four analysts have rated the stock with a Strong Buy rating, fifteen have issued a Buy rating and five have assigned a Hold rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $222.21.

Insiders Place Their Bets

In other Diamondback Energy news, EVP Matt Zmigrosky sold 5,000 shares of the business’s stock in a transaction on Monday, June 1st. The stock was sold at an average price of $200.54, for a total value of $1,002,700.00. Following the transaction, the executive vice president owned 46,392 shares of the company’s stock, valued at approximately $9,303,451.68. The trade was a 9.73% 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. Also, CAO Teresa L. Dick sold 7,000 shares of the company’s stock in a transaction on Tuesday, June 2nd. The shares were sold at an average price of $200.90, for a total value of $1,406,300.00. Following the completion of the transaction, the chief accounting officer owned 85,755 shares of the company’s stock, valued at $17,228,179.50. This trade represents a 7.55% decrease in their position. The SEC filing for this sale provides additional information. In the last three months, insiders sold 129,167 shares of company stock valued at $24,714,309. Insiders own 0.64% of the company’s stock.

About Diamondback Energy

Diamondback Energy, Inc (NASDAQ: FANG) is an independent oil and natural gas company focused on the development, exploration and production of unconventional resources in the Permian Basin. Headquartered in Midland, Texas, the company concentrates its operations in the core Midland and Delaware sub‑basins of West Texas and southeastern New Mexico, where it pursues contiguous acreage positions to support repeatable drilling programs.

Diamondback’s activities span the upstream value chain, including leasehold acquisition, well planning, drilling, completion and production optimization.