Nomura Asset Management Co. Ltd. Has $11.15 Million Position in Diamondback Energy, Inc. (NASDAQ:FANG)

Nomura Asset Management Co. Ltd. raised its position in Diamondback Energy, Inc. (NASDAQ:FANG) by 6.4% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 68,070 shares of the oil and natural gas company’s stock after purchasing an additional 4,101 shares during the period. Nomura Asset Management Co. Ltd.’s holdings in Diamondback Energy were worth $11,152,000 as of its most recent filing with the SEC.

Several other hedge funds also recently bought and sold shares of the company. Lakewood Asset Management LLC raised its stake in Diamondback Energy by 0.5% during the 4th quarter. Lakewood Asset Management LLC now owns 11,340 shares of the oil and natural gas company’s stock worth $1,858,000 after buying an additional 60 shares during the period. Magnolia Capital Advisors LLC increased its holdings in shares of Diamondback Energy by 2.0% in the fourth quarter. Magnolia Capital Advisors LLC now owns 3,247 shares of the oil and natural gas company’s stock worth $532,000 after acquiring an additional 64 shares in the last quarter. Barden Capital Management Inc. raised its position in shares of Diamondback Energy by 1.5% during the fourth quarter. Barden Capital Management Inc. now owns 4,380 shares of the oil and natural gas company’s stock worth $718,000 after purchasing an additional 64 shares during the period. Greenleaf Trust lifted its holdings in shares of Diamondback Energy by 1.0% during the 4th quarter. Greenleaf Trust now owns 6,892 shares of the oil and natural gas company’s stock valued at $1,129,000 after purchasing an additional 66 shares in the last quarter. Finally, Buckhead Capital Management LLC grew its position in shares of Diamondback Energy by 0.3% in the 4th quarter. Buckhead Capital Management LLC now owns 19,830 shares of the oil and natural gas company’s stock valued at $3,249,000 after purchasing an additional 67 shares during the period. 90.01% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Diamondback Energy

In other Diamondback Energy news, Director Frank D. Tsuru purchased 2,000 shares of the stock in a transaction that occurred on Friday, February 28th. The shares were acquired at an average cost of $156.51 per share, with a total value of $313,020.00. Following the completion of the transaction, the director now owns 5,730 shares in the company, valued at $896,802.30. The trade was a 53.62 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.48% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have weighed in on FANG. Piper Sandler cut their price target on shares of Diamondback Energy from $252.00 to $232.00 and set an “overweight” rating on the stock in a research note on Tuesday, December 17th. Williams Trading set a $190.00 price objective on shares of Diamondback Energy in a research report on Wednesday, March 5th. Barclays lowered their target price on Diamondback Energy from $210.00 to $200.00 and set an “overweight” rating for the company in a report on Tuesday, March 18th. Citigroup cut their price target on Diamondback Energy from $195.00 to $157.00 and set a “neutral” rating on the stock in a report on Monday, March 17th. Finally, Mizuho increased their price objective on Diamondback Energy from $201.00 to $204.00 and gave the stock an “outperform” rating in a report on Tuesday, February 25th. Four equities research analysts have rated the stock with a hold rating, eighteen have issued a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $209.33.

Diamondback Energy Stock Performance

Shares of FANG stock opened at $157.54 on Monday. Diamondback Energy, Inc. has a 52 week low of $137.09 and a 52 week high of $214.50. The company has a market capitalization of $45.60 billion, a price-to-earnings ratio of 9.02, a PEG ratio of 1.24 and a beta of 1.85. The company has a 50-day simple moving average of $158.66 and a 200 day simple moving average of $169.73. The company has a debt-to-equity ratio of 0.31, a quick ratio of 0.42 and a current ratio of 0.45.

Diamondback Energy (NASDAQ:FANG) last issued its quarterly earnings data on Tuesday, February 25th. The oil and natural gas company reported $3.64 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.57 by $0.07. The company had revenue of $3.71 billion during the quarter, compared to analysts’ expectations of $3.55 billion. Diamondback Energy had a return on equity of 13.68% and a net margin of 33.64%. On average, sell-side analysts predict that Diamondback Energy, Inc. will post 15.49 earnings per share for the current year.

Diamondback Energy Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, March 13th. Shareholders of record on Thursday, March 6th were given a dividend of $1.00 per share. This is a boost from Diamondback Energy’s previous quarterly dividend of $0.90. The ex-dividend date of this dividend was Thursday, March 6th. This represents a $4.00 annualized dividend and a yield of 2.54%. Diamondback Energy’s dividend payout ratio (DPR) is presently 25.32%.

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.