State Board of Administration of Florida Retirement System increased its holdings in shares of Diamondback Energy Inc (NASDAQ:FANG) by 1.3% in the third quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 130,888 shares of the oil and natural gas company’s stock after purchasing an additional 1,670 shares during the quarter. State Board of Administration of Florida Retirement System’s holdings in Diamondback Energy were worth $17,695,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Principal Financial Group Inc. increased its stake in shares of Diamondback Energy by 13.2% during the first quarter. Principal Financial Group Inc. now owns 13,523 shares of the oil and natural gas company’s stock valued at $1,711,000 after purchasing an additional 1,578 shares in the last quarter. DnB Asset Management AS bought a new position in shares of Diamondback Energy during the second quarter valued at approximately $1,386,000. IFM Investors Pty Ltd increased its stake in shares of Diamondback Energy by 50.4% during the second quarter. IFM Investors Pty Ltd now owns 4,417 shares of the oil and natural gas company’s stock valued at $581,000 after purchasing an additional 1,481 shares in the last quarter. Fisher Asset Management LLC increased its stake in shares of Diamondback Energy by 169.8% during the second quarter. Fisher Asset Management LLC now owns 116,315 shares of the oil and natural gas company’s stock valued at $15,304,000 after purchasing an additional 73,208 shares in the last quarter. Finally, Peregrine Capital Management LLC increased its stake in shares of Diamondback Energy by 19.3% during the second quarter. Peregrine Capital Management LLC now owns 176,460 shares of the oil and natural gas company’s stock valued at $23,217,000 after purchasing an additional 28,564 shares in the last quarter.

NASDAQ:FANG opened at $113.85 on Friday. The company has a quick ratio of 0.52, a current ratio of 0.54 and a debt-to-equity ratio of 0.33. Diamondback Energy Inc has a 12 month low of $105.66 and a 12 month high of $140.78. The company has a market capitalization of $11.43 billion, a price-to-earnings ratio of 17.94, a P/E/G ratio of 0.73 and a beta of 0.70.

Diamondback Energy (NASDAQ:FANG) last posted its earnings results on Tuesday, November 6th. The oil and natural gas company reported $1.67 EPS for the quarter, topping analysts’ consensus estimates of $1.52 by $0.15. Diamondback Energy had a net margin of 33.63% and a return on equity of 11.06%. The business had revenue of $538.03 million during the quarter, compared to the consensus estimate of $518.32 million. During the same quarter in the previous year, the firm posted $1.33 EPS. The firm’s revenue was up 78.6% on a year-over-year basis. On average, sell-side analysts forecast that Diamondback Energy Inc will post 6.58 earnings per share for the current year.

The business also recently announced a quarterly dividend, which will be paid on Monday, November 26th. Shareholders of record on Monday, November 19th will be given a $0.125 dividend. This represents a $0.50 dividend on an annualized basis and a yield of 0.44%. The ex-dividend date is Friday, November 16th. Diamondback Energy’s dividend payout ratio (DPR) is presently 9.43%.

In other Diamondback Energy news, VP Russell Pantermuehl sold 2,000 shares of Diamondback Energy stock in a transaction that occurred on Wednesday, September 19th. The shares were sold at an average price of $127.80, for a total value of $255,600.00. Following the completion of the sale, the vice president now owns 89,532 shares of the company’s stock, valued at approximately $11,442,189.60. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Insiders own 0.57% of the company’s stock.

FANG has been the subject of a number of analyst reports. Jefferies Financial Group set a $181.00 target price on shares of Diamondback Energy and gave the company a “buy” rating in a research note on Friday, July 13th. BidaskClub downgraded shares of Diamondback Energy from a “buy” rating to a “hold” rating in a research note on Thursday, July 19th. Stifel Nicolaus set a $166.00 target price on shares of Diamondback Energy and gave the company a “buy” rating in a research note on Thursday, July 19th. Williams Capital reaffirmed a “hold” rating and set a $162.00 target price on shares of Diamondback Energy in a research note on Thursday, August 9th. Finally, Capital One Financial reaffirmed an “overweight” rating on shares of Diamondback Energy in a research note on Wednesday, August 8th. Four analysts have rated the stock with a hold rating, twenty-eight have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and an average price target of $156.45.

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About Diamondback Energy

Diamondback Energy, Inc, an independent oil and natural gas company, focuses on the acquisition, development, exploration, and exploitation of onshore oil and natural gas reserves in the Permian Basin in West Texas. Its activities are primarily focused on the Wolfcamp, Spraberry, Clearfork, Bone Spring, and Cline formations.

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

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