Diamondback Energy, Inc. $FANG Shares Acquired by Teachers Retirement System of The State of Kentucky

Teachers Retirement System of The State of Kentucky increased its position in shares of Diamondback Energy, Inc. (NASDAQ:FANG) by 12.3% during the 1st quarter, Holdings Channel.com reports. The firm owned 45,277 shares of the oil and natural gas company’s stock after buying an additional 4,948 shares during the quarter. Teachers Retirement System of The State of Kentucky’s holdings in Diamondback Energy were worth $8,956,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. Wellington Management Group LLP boosted its stake in Diamondback Energy by 74.1% during the 4th quarter. Wellington Management Group LLP now owns 3,239,837 shares of the oil and natural gas company’s stock valued at $487,045,000 after purchasing an additional 1,379,010 shares in the last quarter. EnCap Energy Capital Fund XII L.P. acquired a new stake in shares of Diamondback Energy in the fourth quarter valued at $169,342,000. Smead Capital Management Inc. acquired a new stake in shares of Diamondback Energy in the second quarter valued at $144,775,000. Encompass Capital Advisors LLC bought a new position in Diamondback Energy during the fourth quarter valued at about $112,198,000. Finally, Capital Research Global Investors boosted its stake in Diamondback Energy by 14.1% during the fourth quarter. Capital Research Global Investors now owns 4,332,885 shares of the oil and natural gas company’s stock valued at $651,363,000 after buying an additional 534,073 shares in the last quarter. 90.01% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, CAO Teresa L. Dick sold 7,000 shares of the stock in a transaction dated Tuesday, June 2nd. The stock was sold at an average price of $200.90, for a total value of $1,406,300.00. Following the completion of the sale, the chief accounting officer directly owned 85,755 shares of the company’s stock, valued at approximately $17,228,179.50. This represents a 7.55% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Mark Lawrence Plaumann sold 500 shares of the firm’s stock in a transaction dated Tuesday, June 9th. The stock was sold at an average price of $196.50, for a total value of $98,250.00. Following the sale, the director owned 13,437 shares of the company’s stock, valued at $2,640,370.50. The trade was a 3.59% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 113,691 shares of company stock valued at $21,622,752 in the last 90 days. Insiders own 0.64% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have commented on the stock. Morgan Stanley dropped their price target on shares of Diamondback Energy from $229.00 to $216.00 and set an “overweight” rating on the stock in a research report on Monday, June 29th. Weiss Ratings restated a “hold (c)” rating on shares of Diamondback Energy in a research report on Wednesday, May 27th. Mizuho lifted their price objective on shares of Diamondback Energy from $220.00 to $240.00 and gave the stock an “outperform” rating in a research note on Wednesday, May 27th. Sanford C. Bernstein boosted their target price on shares of Diamondback Energy from $237.00 to $241.00 and gave the stock an “outperform” rating in a report on Monday, May 11th. Finally, UBS Group increased their target price on shares of Diamondback Energy from $240.00 to $245.00 and gave the company a “buy” rating in a research note on Friday, April 10th. Five equities research analysts have rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating and four have assigned a Hold rating to the company’s stock. According to MarketBeat.com, Diamondback Energy presently has a consensus rating of “Buy” and a consensus target price of $220.68.

Diamondback Energy Trading Up 4.5%

NASDAQ FANG opened at $191.60 on Tuesday. The firm’s 50 day moving average price is $191.52 and its two-hundred day moving average price is $179.76. The company has a debt-to-equity ratio of 0.31, a quick ratio of 0.55 and a current ratio of 0.56. Diamondback Energy, Inc. has a twelve month low of $134.30 and a twelve month high of $214.51. The stock has a market cap of $53.90 billion, a price-to-earnings ratio of 222.79 and a beta of 0.42.

Diamondback Energy (NASDAQ:FANG) last released its earnings results on Monday, May 4th. The oil and natural gas company reported $4.23 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.74 by $0.49. The company had revenue of $4.24 billion during the quarter, compared to analyst estimates of $3.83 billion. Diamondback Energy had a return on equity of 7.76% and a net margin of 1.87%.The company’s revenue for the quarter was up 4.7% on a year-over-year basis. During the same quarter in the prior year, the company earned $4.54 earnings per share. Equities analysts anticipate that Diamondback Energy, Inc. will post 19.25 EPS for the current year.

Diamondback Energy Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, May 21st. Investors of record on Thursday, May 14th were given a dividend of $1.10 per share. The ex-dividend date of this dividend was Thursday, May 14th. This is a positive change from Diamondback Energy’s previous quarterly dividend of $1.05. This represents a $4.40 annualized dividend and a yield of 2.3%. Diamondback Energy’s payout ratio is presently 511.63%.

Diamondback Energy Profile

Diamondback Energy, Inc (NASDAQ: FANG) is an independent oil and natural gas company focused on the development, exploration and production of unconventional resources in the Permian Basin. Headquartered in Midland, Texas, the company concentrates its operations in the core Midland and Delaware sub‑basins of West Texas and southeastern New Mexico, where it pursues contiguous acreage positions to support repeatable drilling programs.

Diamondback’s activities span the upstream value chain, including leasehold acquisition, well planning, drilling, completion and production optimization.