Diamondback Energy, Inc. (NASDAQ:FANG) Shares Sold by Dai ichi Life Insurance Company Ltd

Dai ichi Life Insurance Company Ltd lowered its position in shares of Diamondback Energy, Inc. (NASDAQ:FANG) by 35.4% in the third quarter, according to the company in its most recent filing with the SEC. The firm owned 7,327 shares of the oil and natural gas company’s stock after selling 4,014 shares during the quarter. Dai ichi Life Insurance Company Ltd’s holdings in Diamondback Energy were worth $1,263,000 at the end of the most recent reporting period.

Several other large investors have also added to or reduced their stakes in FANG. Boston Partners lifted its holdings in shares of Diamondback Energy by 235.6% during the first quarter. Boston Partners now owns 2,730,482 shares of the oil and natural gas company’s stock worth $541,844,000 after purchasing an additional 1,916,900 shares during the period. Diamond Hill Capital Management Inc. lifted its stake in Diamondback Energy by 25.6% during the 3rd quarter. Diamond Hill Capital Management Inc. now owns 2,158,910 shares of the oil and natural gas company’s stock valued at $372,196,000 after acquiring an additional 439,579 shares during the period. Bank of New York Mellon Corp boosted its holdings in shares of Diamondback Energy by 16.0% in the 2nd quarter. Bank of New York Mellon Corp now owns 3,012,329 shares of the oil and natural gas company’s stock valued at $603,038,000 after acquiring an additional 415,902 shares during the last quarter. Canada Pension Plan Investment Board increased its stake in shares of Diamondback Energy by 280.8% in the second quarter. Canada Pension Plan Investment Board now owns 545,202 shares of the oil and natural gas company’s stock worth $109,144,000 after acquiring an additional 402,026 shares during the period. Finally, American Century Companies Inc. increased its stake in shares of Diamondback Energy by 195.4% in the second quarter. American Century Companies Inc. now owns 531,162 shares of the oil and natural gas company’s stock worth $106,333,000 after acquiring an additional 351,329 shares during the period. Hedge funds and other institutional investors own 90.01% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have commented on the stock. KeyCorp lowered their price target on shares of Diamondback Energy from $225.00 to $216.00 and set an “overweight” rating on the stock in a report on Wednesday, October 16th. Scotiabank dropped their target price on Diamondback Energy from $245.00 to $225.00 and set a “sector outperform” rating on the stock in a report on Thursday, October 10th. Citigroup assumed coverage on Diamondback Energy in a report on Monday, October 14th. They issued a “neutral” rating and a $195.00 price target for the company. UBS Group dropped their price objective on shares of Diamondback Energy from $247.00 to $223.00 and set a “buy” rating on the stock in a research note on Wednesday, September 18th. Finally, Susquehanna decreased their target price on shares of Diamondback Energy from $237.00 to $233.00 and set a “positive” rating for the company in a research note on Friday, October 18th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating, seventeen have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $212.00.

Diamondback Energy Stock Up 0.1 %

NASDAQ FANG opened at $176.19 on Thursday. The business’s fifty day simple moving average is $182.13 and its 200-day simple moving average is $190.18. The company has a quick ratio of 0.42, a current ratio of 0.45 and a debt-to-equity ratio of 0.31. The firm has a market cap of $51.45 billion, a PE ratio of 10.09, a P/E/G ratio of 1.32 and a beta of 1.89. Diamondback Energy, Inc. has a 52 week low of $145.70 and a 52 week high of $214.50.

Diamondback Energy (NASDAQ:FANG) last issued its earnings results on Monday, November 4th. The oil and natural gas company reported $3.38 EPS for the quarter, missing analysts’ consensus estimates of $4.62 by ($1.24). Diamondback Energy had a return on equity of 13.68% and a net margin of 33.64%. The firm had revenue of $2.65 billion for the quarter, compared to analysts’ expectations of $2.43 billion. During the same period last year, the firm earned $5.49 earnings per share. Diamondback Energy’s revenue for the quarter was up 13.0% on a year-over-year basis. As a group, equities analysts anticipate that Diamondback Energy, Inc. will post 16.26 earnings per share for the current year.

Diamondback Energy Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, November 21st. Investors of record on Thursday, November 14th were given a $0.90 dividend. The ex-dividend date of this dividend was Thursday, November 14th. This represents a $3.60 annualized dividend and a yield of 2.04%. Diamondback Energy’s payout ratio is 20.61%.

Insiders Place Their Bets

In related news, major shareholder Lyndal Greth sold 13,212,830 shares of the stock in a transaction dated Monday, September 23rd. The stock was sold at an average price of $175.11, for a total transaction of $2,313,698,661.30. Following the transaction, the insider now owns 1,037,819 shares of the company’s stock, valued at approximately $181,732,485.09. This represents a 92.72 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Mark Lawrence Plaumann sold 1,150 shares of the stock in a transaction dated Wednesday, November 13th. The stock was sold at an average price of $181.00, for a total transaction of $208,150.00. Following the sale, the director now directly owns 4,712 shares in the company, valued at $852,872. This represents a 19.62 % decrease in their position. The disclosure for this sale can be found here. 0.48% of the stock is owned by 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.