Sumitomo Mitsui Trust Holdings Inc. Purchases 3,582 Shares of Diamondback Energy, Inc. (NASDAQ:FANG)

Sumitomo Mitsui Trust Holdings Inc. raised its holdings in Diamondback Energy, Inc. (NASDAQ:FANG) by 0.8% during the 1st quarter, HoldingsChannel reports. The institutional investor owned 429,164 shares of the oil and natural gas company’s stock after purchasing an additional 3,582 shares during the period. Sumitomo Mitsui Trust Holdings Inc.’s holdings in Diamondback Energy were worth $85,047,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently made changes to their positions in FANG. Founders Capital Management increased its stake in Diamondback Energy by 404.0% in the first quarter. Founders Capital Management now owns 126 shares of the oil and natural gas company’s stock valued at $25,000 after acquiring an additional 101 shares during the period. BKM Wealth Management LLC acquired a new stake in Diamondback Energy during the fourth quarter valued at approximately $27,000. Logan Capital Management Inc. bought a new stake in shares of Diamondback Energy in the 4th quarter valued at approximately $31,000. Turtle Creek Wealth Advisors LLC acquired a new position in shares of Diamondback Energy in the 4th quarter worth approximately $34,000. Finally, CVA Family Office LLC bought a new position in shares of Diamondback Energy during the 4th quarter worth approximately $35,000. Institutional investors and hedge funds own 90.01% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on FANG shares. Barclays assumed coverage on shares of Diamondback Energy in a report on Wednesday, April 10th. They issued an “equal weight” rating and a $214.00 target price on the stock. Susquehanna raised their price objective on shares of Diamondback Energy from $212.00 to $245.00 and gave the stock a “positive” rating in a report on Monday, April 22nd. Bank of America reissued a “neutral” rating and issued a $201.00 target price on shares of Diamondback Energy in a report on Friday, June 14th. Royal Bank of Canada raised their price target on Diamondback Energy from $195.00 to $220.00 and gave the company an “outperform” rating in a report on Monday, May 6th. Finally, Scotiabank boosted their price objective on Diamondback Energy from $210.00 to $255.00 and gave the stock a “sector outperform” rating in a research note on Thursday, April 11th. One research analyst has rated the stock with a sell rating, four have given a hold rating, fifteen have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $209.35.

Diamondback Energy Trading Up 1.0 %

Shares of Diamondback Energy stock opened at $206.93 on Friday. The company has a market capitalization of $36.90 billion, a price-to-earnings ratio of 11.66, a P/E/G ratio of 1.11 and a beta of 1.90. The business has a fifty day simple moving average of $196.83 and a two-hundred day simple moving average of $182.62. The company has a debt-to-equity ratio of 0.37, a current ratio of 0.92 and a quick ratio of 0.89. Diamondback Energy, Inc. has a 1 year low of $125.73 and a 1 year high of $211.96.

Diamondback Energy (NASDAQ:FANG) last posted its quarterly earnings data on Tuesday, April 30th. The oil and natural gas company reported $4.50 earnings per share for the quarter, topping the consensus estimate of $4.29 by $0.21. Diamondback Energy had a return on equity of 19.36% and a net margin of 36.71%. The firm had revenue of $2.23 billion for the quarter, compared to analysts’ expectations of $2.10 billion. During the same quarter last year, the business earned $4.10 EPS. The company’s quarterly revenue was up 15.7% compared to the same quarter last year. Research analysts forecast that Diamondback Energy, Inc. will post 19.06 EPS for the current year.

Diamondback Energy Cuts Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, May 22nd. Shareholders of record on Wednesday, May 15th were paid a $0.90 dividend. This represents a $3.60 annualized dividend and a yield of 1.74%. The ex-dividend date was Tuesday, May 14th. Diamondback Energy’s dividend payout ratio (DPR) is 20.29%.

Insider Buying and Selling at Diamondback Energy

In other news, COO Daniel N. Wesson sold 6,000 shares of the firm’s stock in a transaction that occurred on Tuesday, May 28th. The shares were sold at an average price of $197.14, for a total transaction of $1,182,840.00. Following the transaction, the chief operating officer now directly owns 69,677 shares of the company’s stock, valued at $13,736,123.78. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, COO Daniel N. Wesson sold 6,000 shares of the company’s stock in a transaction on Tuesday, May 28th. The stock was sold at an average price of $197.14, for a total transaction of $1,182,840.00. Following the completion of the sale, the chief operating officer now directly owns 69,677 shares in the company, valued at approximately $13,736,123.78. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, VP Jere W. Thompson III sold 900 shares of the firm’s stock in a transaction on Friday, May 3rd. The stock was sold at an average price of $199.90, for a total value of $179,910.00. Following the completion of the transaction, the vice president now owns 7,585 shares in the company, valued at approximately $1,516,241.50. The disclosure for this sale can be found here. Insiders own 0.48% of the company’s stock.

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.