FUKOKU MUTUAL LIFE INSURANCE Co Has $460,000 Stock Position in Diamondback Energy, Inc. (NASDAQ:FANG)

FUKOKU MUTUAL LIFE INSURANCE Co increased its stake in Diamondback Energy, Inc. (NASDAQ:FANG) by 12.0% during the third quarter, HoldingsChannel reports. The firm owned 2,669 shares of the oil and natural gas company’s stock after acquiring an additional 286 shares during the period. FUKOKU MUTUAL LIFE INSURANCE Co’s holdings in Diamondback Energy were worth $460,000 at the end of the most recent quarter.

Other hedge funds also recently bought and sold shares of the company. Price T Rowe Associates Inc. MD lifted its position in shares of Diamondback Energy by 38.2% in the first quarter. Price T Rowe Associates Inc. MD now owns 8,609,143 shares of the oil and natural gas company’s stock worth $1,706,076,000 after purchasing an additional 2,381,488 shares in the last quarter. Boston Partners lifted its position in Diamondback Energy by 235.6% in the 1st quarter. Boston Partners now owns 2,730,482 shares of the oil and natural gas company’s stock worth $541,844,000 after buying an additional 1,916,900 shares in the last quarter. Homestead Advisers Corp acquired a new stake in shares of Diamondback Energy during the 1st quarter valued at $87,940,000. Diamond Hill Capital Management Inc. grew its holdings in shares of 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 in the last quarter. Finally, Bank of New York Mellon Corp increased its stake in shares of Diamondback Energy by 16.0% in the second quarter. Bank of New York Mellon Corp now owns 3,012,329 shares of the oil and natural gas company’s stock worth $603,038,000 after acquiring an additional 415,902 shares during the last quarter. 90.01% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities research analysts recently commented on FANG shares. Evercore ISI lowered their price target on Diamondback Energy from $235.00 to $209.00 and set an “outperform” rating for the company in a research note on Monday, September 30th. Susquehanna lowered their price objective on Diamondback Energy from $237.00 to $233.00 and set a “positive” rating on the stock in a report on Friday, October 18th. Bank of America boosted their target price on Diamondback Energy from $201.00 to $215.00 and gave the stock a “neutral” rating in a report on Tuesday, July 23rd. StockNews.com upgraded Diamondback Energy from a “sell” rating to a “hold” rating in a report on Wednesday. Finally, Johnson Rice cut shares of Diamondback Energy from a “strong-buy” rating to a “moderate buy” rating in a research note on Tuesday, September 24th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating, seventeen have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $209.64.

Diamondback Energy Stock Performance

NASDAQ FANG opened at $182.42 on Friday. The firm has a market capitalization of $53.26 billion, a P/E ratio of 10.44, a price-to-earnings-growth ratio of 1.30 and a beta of 1.89. The company has a current ratio of 0.45, a quick ratio of 0.42 and a debt-to-equity ratio of 0.31. The firm’s fifty day moving average price is $181.26 and its two-hundred day moving average price is $191.70. Diamondback Energy, Inc. has a 1 year low of $145.70 and a 1 year high of $214.50.

Diamondback Energy (NASDAQ:FANG) last posted its earnings results on Monday, November 4th. The oil and natural gas company reported $3.38 earnings per share for the quarter, missing analysts’ consensus estimates of $4.62 by ($1.24). The business had revenue of $2.65 billion for the quarter, compared to analyst estimates of $2.43 billion. Diamondback Energy had a return on equity of 13.68% and a net margin of 33.64%. The firm’s revenue was up 13.0% compared to the same quarter last year. During the same period in the previous year, the firm posted $5.49 earnings per share. As a group, research analysts anticipate that Diamondback Energy, Inc. will post 16.78 EPS for the current year.

Diamondback Energy Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, November 21st. Shareholders of record on Thursday, November 14th will be issued a $0.90 dividend. The ex-dividend date of this dividend is Thursday, November 14th. This represents a $3.60 annualized dividend and a yield of 1.97%. Diamondback Energy’s dividend payout ratio is presently 20.61%.

Insider Activity

In other news, major shareholder Lyndal Greth sold 13,212,830 shares of the business’s stock in a transaction on 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 completion of the transaction, the insider now owns 1,037,819 shares of the company’s stock, valued at approximately $181,732,485.09. The trade was a 92.72 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Mark Lawrence Plaumann sold 1,150 shares of Diamondback Energy stock in a transaction dated Wednesday, November 13th. The shares were sold at an average price of $181.00, for a total value of $208,150.00. Following the completion of the transaction, the director now owns 4,712 shares in the company, valued at approximately $852,872. This represents a 19.62 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.48% of the company’s stock.

About Diamondback Energy

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.