Sumitomo Mitsui Trust Group Inc. Purchases 16,348 Shares of Diamondback Energy, Inc. (NASDAQ:FANG)

Sumitomo Mitsui Trust Group Inc. grew its position in Diamondback Energy, Inc. (NASDAQ:FANG) by 3.9% during the third quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 433,607 shares of the oil and natural gas company’s stock after buying an additional 16,348 shares during the period. Sumitomo Mitsui Trust Group Inc.’s holdings in Diamondback Energy were worth $74,754,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. Quent Capital LLC boosted its stake in Diamondback Energy by 7.2% in the second quarter. Quent Capital LLC now owns 809 shares of the oil and natural gas company’s stock valued at $162,000 after acquiring an additional 54 shares in the last quarter. Carolinas Wealth Consulting LLC lifted its holdings in shares of Diamondback Energy by 67.1% during the 2nd quarter. Carolinas Wealth Consulting LLC now owns 137 shares of the oil and natural gas company’s stock valued at $27,000 after purchasing an additional 55 shares during the last quarter. Financial Advocates Investment Management boosted its position in shares of Diamondback Energy by 3.0% in the 3rd quarter. Financial Advocates Investment Management now owns 1,907 shares of the oil and natural gas company’s stock worth $329,000 after purchasing an additional 55 shares in the last quarter. Sugarloaf Wealth Management LLC grew its stake in Diamondback Energy by 0.3% during the 2nd quarter. Sugarloaf Wealth Management LLC now owns 19,975 shares of the oil and natural gas company’s stock worth $3,999,000 after buying an additional 56 shares during the last quarter. Finally, Versant Capital Management Inc increased its position in Diamondback Energy by 16.1% during the 2nd quarter. Versant Capital Management Inc now owns 412 shares of the oil and natural gas company’s stock valued at $82,000 after buying an additional 57 shares in the last quarter. Hedge funds and other institutional investors own 90.01% of the company’s stock.

Diamondback Energy Stock Performance

NASDAQ FANG opened at $182.42 on Friday. The stock has a market capitalization of $53.26 billion, a price-to-earnings ratio of 10.44, a PEG ratio of 1.27 and a beta of 1.89. The stock has a 50-day moving average of $181.26 and a 200 day moving average of $191.70. The company has a current ratio of 0.45, a quick ratio of 0.42 and a debt-to-equity ratio of 0.31. Diamondback Energy, Inc. has a twelve month low of $145.70 and a twelve month high of $214.50.

Diamondback Energy (NASDAQ:FANG) last announced its earnings results on Monday, November 4th. The oil and natural gas company reported $3.38 earnings per share for the quarter, missing the consensus estimate of $4.62 by ($1.24). Diamondback Energy had a return on equity of 13.68% and a net margin of 33.64%. The business had revenue of $2.65 billion for the quarter, compared to analyst estimates of $2.43 billion. During the same period in the previous year, the company earned $5.49 earnings per share. The company’s quarterly revenue was up 13.0% compared to the same quarter last year. Sell-side analysts anticipate that Diamondback Energy, Inc. will post 17 EPS for the current fiscal year.

Diamondback Energy Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, November 21st. Stockholders of record on Thursday, November 14th will be given a $0.90 dividend. The ex-dividend date is Thursday, November 14th. This represents a $3.60 annualized dividend and a dividend yield of 1.97%. Diamondback Energy’s dividend payout ratio (DPR) is 20.61%.

Insider Transactions at Diamondback Energy

In other news, major shareholder Lyndal Greth sold 13,212,830 shares of the company’s stock in a transaction on Monday, September 23rd. The shares were sold at an average price of $175.11, for a total transaction of $2,313,698,661.30. Following the completion of the sale, the insider now owns 1,037,819 shares of the company’s stock, valued at $181,732,485.09. This represents a 92.72 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Mark Lawrence Plaumann sold 1,150 shares of the firm’s 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 completion of the transaction, the director now directly owns 4,712 shares in the company, valued at approximately $852,872. This represents a 19.62 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 0.48% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on the company. Johnson Rice lowered Diamondback Energy from a “strong-buy” rating to a “moderate buy” rating in a research note on Tuesday, September 24th. JPMorgan Chase & Co. assumed coverage on shares of Diamondback Energy in a research report on Wednesday, October 2nd. They set an “overweight” rating and a $182.00 target price on the stock. Benchmark reaffirmed a “buy” rating and issued a $195.00 price target on shares of Diamondback Energy in a report on Tuesday, October 29th. StockNews.com upgraded shares of Diamondback Energy from a “sell” rating to a “hold” rating in a research note on Wednesday. Finally, Evercore ISI cut their target price on Diamondback Energy from $235.00 to $209.00 and set an “outperform” rating on the stock in a research report on Monday, September 30th. One analyst has rated the stock with a sell rating, five have assigned a hold rating, seventeen have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, Diamondback Energy has a consensus rating of “Moderate Buy” and a consensus target price of $209.64.

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.