Sumitomo Mitsui Trust Holdings Inc. Has $70.94 Million Stake in Diamondback Energy Inc (NASDAQ:FANG)

Sumitomo Mitsui Trust Holdings Inc. decreased its stake in shares of Diamondback Energy Inc (NASDAQ:FANG) by 0.7% during the second quarter, according to the company in its most recent filing with the SEC. The fund owned 651,033 shares of the oil and natural gas company’s stock after selling 4,879 shares during the period. Sumitomo Mitsui Trust Holdings Inc. owned 0.40% of Diamondback Energy worth $70,943,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently modified their holdings of FANG. Securian Asset Management Inc grew its holdings in Diamondback Energy by 0.6% in the 1st quarter. Securian Asset Management Inc now owns 16,116 shares of the oil and natural gas company’s stock valued at $1,636,000 after buying an additional 95 shares during the last quarter. Louisiana State Employees Retirement System grew its holdings in Diamondback Energy by 1.2% in the 1st quarter. Louisiana State Employees Retirement System now owns 8,200 shares of the oil and natural gas company’s stock valued at $833,000 after buying an additional 100 shares during the last quarter. Penserra Capital Management LLC grew its holdings in Diamondback Energy by 7.6% in the 1st quarter. Penserra Capital Management LLC now owns 1,438 shares of the oil and natural gas company’s stock valued at $145,000 after buying an additional 102 shares during the last quarter. State of Alaska Department of Revenue grew its holdings in Diamondback Energy by 0.4% in the 2nd quarter. State of Alaska Department of Revenue now owns 25,041 shares of the oil and natural gas company’s stock valued at $2,727,000 after buying an additional 103 shares during the last quarter. Finally, LS Investment Advisors LLC grew its holdings in Diamondback Energy by 2.0% in the 1st quarter. LS Investment Advisors LLC now owns 5,533 shares of the oil and natural gas company’s stock valued at $562,000 after buying an additional 106 shares during the last quarter. 99.32% of the stock is currently owned by institutional investors and hedge funds.

Shares of NASDAQ:FANG traded up $1.22 during trading on Friday, hitting $96.42. 1,566,056 shares of the stock were exchanged, compared to its average volume of 1,827,592. Diamondback Energy Inc has a 1-year low of $85.19 and a 1-year high of $140.78. The stock has a market capitalization of $15.68 billion, a P/E ratio of 16.43, a price-to-earnings-growth ratio of 0.63 and a beta of 0.82. The company has a fifty day moving average price of $104.12. The company has a quick ratio of 0.59, a current ratio of 0.82 and a debt-to-equity ratio of 0.29.

Diamondback Energy (NASDAQ:FANG) last posted its earnings results on Tuesday, August 6th. The oil and natural gas company reported $1.70 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $1.74 by ($0.04). The company had revenue of $1.02 billion for the quarter, compared to the consensus estimate of $1.04 billion. Diamondback Energy had a return on equity of 6.50% and a net margin of 26.92%. Diamondback Energy’s quarterly revenue was up 93.7% compared to the same quarter last year. During the same quarter last year, the business earned $1.59 EPS. As a group, analysts forecast that Diamondback Energy Inc will post 7.28 earnings per share for the current year.

The business also recently announced a quarterly dividend, which will be paid on Monday, August 26th. Investors of record on Friday, August 16th will be given a dividend of $0.188 per share. The ex-dividend date of this dividend is Thursday, August 15th. This represents a $0.75 annualized dividend and a dividend yield of 0.78%. Diamondback Energy’s dividend payout ratio (DPR) is presently 12.78%.

A number of research firms have issued reports on FANG. Bank of America raised their target price on Diamondback Energy from $165.00 to $170.00 and gave the company a “buy” rating in a report on Tuesday, May 21st. KeyCorp raised their target price on Diamondback Energy from $125.00 to $133.00 and gave the company an “overweight” rating in a report on Tuesday, July 16th. Credit Suisse Group began coverage on Diamondback Energy in a report on Monday, June 17th. They issued an “outperform” rating and a $135.00 target price on the stock. Royal Bank of Canada reaffirmed a “buy” rating and issued a $156.00 target price on shares of Diamondback Energy in a report on Sunday. Finally, Roth Capital lowered their target price on Diamondback Energy from $166.00 to $150.00 and set a “buy” rating on the stock in a report on Friday, June 7th. Two research analysts have rated the stock with a sell rating, one has given a hold rating, twenty-five have issued a buy rating and three have assigned a strong buy rating to the company. The stock presently has a consensus rating of “Buy” and an average target price of $158.29.

In related news, CFO Hof Matthew Kaes Van’t sold 1,500 shares of the firm’s stock in a transaction that occurred on Thursday, June 20th. The stock was sold at an average price of $107.47, for a total transaction of $161,205.00. Following the completion of the transaction, the chief financial officer now owns 27,465 shares in the company, valued at approximately $2,951,663.55. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, VP Russell Pantermuehl sold 5,000 shares of the firm’s stock in a transaction that occurred on Tuesday, May 21st. The stock was sold at an average price of $112.18, for a total value of $560,900.00. Following the transaction, the vice president now owns 117,107 shares of the company’s stock, valued at approximately $13,137,063.26. The disclosure for this sale can be found here. Insiders have sold a total of 11,500 shares of company stock valued at $1,258,505 in the last 90 days. 0.47% of the stock is owned by corporate insiders.

Diamondback Energy Company Profile

Diamondback Energy, Inc, an independent oil and natural gas company, focuses on the acquisition, development, exploration, and exploitation of unconventional and onshore oil and natural gas reserves in the Permian Basin in West Texas. It primarily 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.

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Institutional Ownership by Quarter for Diamondback Energy (NASDAQ:FANG)

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