Resona Asset Management Co. Ltd. Sells 3,942 Shares of Diamondback Energy, Inc. $FANG

Resona Asset Management Co. Ltd. reduced its stake in shares of Diamondback Energy, Inc. (NASDAQ:FANG) by 6.3% in the third quarter, Holdings Channel reports. The firm owned 58,997 shares of the oil and natural gas company’s stock after selling 3,942 shares during the period. Resona Asset Management Co. Ltd.’s holdings in Diamondback Energy were worth $8,447,000 at the end of the most recent quarter.

Other institutional investors also recently added to or reduced their stakes in the company. Woodmont Investment Counsel LLC raised its holdings in shares of Diamondback Energy by 1,123.0% in the second quarter. Woodmont Investment Counsel LLC now owns 43,515 shares of the oil and natural gas company’s stock valued at $5,979,000 after acquiring an additional 39,957 shares in the last quarter. NorthRock Partners LLC grew its holdings in Diamondback Energy by 181.6% during the 2nd quarter. NorthRock Partners LLC now owns 3,551 shares of the oil and natural gas company’s stock worth $488,000 after acquiring an additional 2,290 shares in the last quarter. Massachusetts Financial Services Co. MA increased its position in Diamondback Energy by 9.7% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 1,385,428 shares of the oil and natural gas company’s stock valued at $198,255,000 after purchasing an additional 122,921 shares during the period. WoodTrust Financial Corp bought a new stake in shares of Diamondback Energy in the 3rd quarter valued at about $1,624,000. Finally, Shell Asset Management Co. raised its holdings in shares of Diamondback Energy by 22.9% in the 2nd quarter. Shell Asset Management Co. now owns 12,998 shares of the oil and natural gas company’s stock valued at $1,786,000 after purchasing an additional 2,423 shares in the last quarter. Hedge funds and other institutional investors own 90.01% of the company’s stock.

Analyst Ratings Changes

FANG has been the topic of several research reports. Sanford C. Bernstein cut their price objective on shares of Diamondback Energy from $199.00 to $190.00 and set an “outperform” rating on the stock in a report on Monday, January 5th. Evercore ISI increased their target price on Diamondback Energy from $165.00 to $175.00 and gave the company an “outperform” rating in a research report on Monday, October 6th. Morgan Stanley cut their price target on Diamondback Energy from $183.00 to $171.00 and set an “overweight” rating on the stock in a report on Friday. Royal Bank Of Canada restated an “outperform” rating and set a $173.00 price objective on shares of Diamondback Energy in a research note on Friday, October 10th. Finally, Wells Fargo & Company raised their price objective on Diamondback Energy from $160.00 to $169.00 and gave the company an “overweight” rating in a research report on Monday, November 17th. One equities research analyst has rated the stock with a Strong Buy rating, nineteen have given a Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $185.67.

Diamondback Energy Stock Down 0.3%

Diamondback Energy stock opened at $153.52 on Tuesday. Diamondback Energy, Inc. has a 1-year low of $114.00 and a 1-year high of $175.69. The business has a fifty day moving average price of $151.04 and a 200-day moving average price of $145.79. The company has a debt-to-equity ratio of 0.35, a current ratio of 0.62 and a quick ratio of 0.60. The stock has a market capitalization of $43.97 billion, a price-to-earnings ratio of 10.67 and a beta of 0.59.

Diamondback Energy (NASDAQ:FANG) last released its quarterly earnings results on Monday, November 3rd. The oil and natural gas company reported $3.08 EPS for the quarter, beating analysts’ consensus estimates of $2.94 by $0.14. The company had revenue of $3.92 billion during the quarter, compared to analysts’ expectations of $3.48 billion. Diamondback Energy had a return on equity of 9.57% and a net margin of 27.32%.The firm’s revenue was up 48.4% compared to the same quarter last year. During the same period last year, the business posted $3.19 earnings per share. Equities research analysts forecast that Diamondback Energy, Inc. will post 15.49 EPS for the current fiscal year.

Diamondback Energy Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, November 20th. Investors of record on Thursday, November 13th were paid a $1.00 dividend. The ex-dividend date was Thursday, November 13th. This represents a $4.00 dividend on an annualized basis and a yield of 2.6%. Diamondback Energy’s dividend payout ratio (DPR) is 27.80%.

Insiders Place Their Bets

In other Diamondback Energy news, Director Charles Alvin Meloy sold 377,911 shares of the business’s stock in a transaction that occurred on Thursday, December 4th. The shares were sold at an average price of $138.61, for a total transaction of $52,382,243.71. Following the sale, the director owned 1,044,864 shares of the company’s stock, valued at approximately $144,828,599.04. The trade was a 26.56% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 0.48% 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.