Teachers Retirement System of The State of Kentucky Decreases Stock Holdings in Diamondback Energy, Inc. (NASDAQ:FANG)

Teachers Retirement System of The State of Kentucky decreased its holdings in shares of Diamondback Energy, Inc. (NASDAQ:FANG) by 71.1% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 41,899 shares of the oil and natural gas company’s stock after selling 103,270 shares during the period. Teachers Retirement System of The State of Kentucky’s holdings in Diamondback Energy were worth $6,864,000 at the end of the most recent reporting period.

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

Diamondback Energy Trading Down 3.8 %

NASDAQ:FANG opened at $132.35 on Tuesday. The firm has a market capitalization of $38.92 billion, a price-to-earnings ratio of 7.58, a price-to-earnings-growth ratio of 1.24 and a beta of 1.44. The company has a debt-to-equity ratio of 0.31, a current ratio of 0.45 and a quick ratio of 0.42. The business has a fifty day moving average price of $146.67 and a 200-day moving average price of $164.21. Diamondback Energy, Inc. has a one year low of $114.00 and a one year high of $214.50.

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

Diamondback Energy Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, March 13th. Stockholders of record on Thursday, March 6th were given a $1.00 dividend. This represents a $4.00 annualized dividend and a dividend yield of 3.02%. This is an increase from Diamondback Energy’s previous quarterly dividend of $0.90. The ex-dividend date of this dividend was Thursday, March 6th. Diamondback Energy’s payout ratio is presently 25.32%.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on FANG. Royal Bank of Canada reissued an “outperform” rating and issued a $210.00 target price on shares of Diamondback Energy in a research report on Thursday, January 23rd. Wells Fargo & Company lowered their price objective on Diamondback Energy from $215.00 to $207.00 and set an “overweight” rating for the company in a research report on Monday. Barclays reduced their target price on shares of Diamondback Energy from $210.00 to $200.00 and set an “overweight” rating on the stock in a research report on Tuesday, March 18th. Morgan Stanley reissued an “overweight” rating on shares of Diamondback Energy in a research report on Tuesday, April 15th. Finally, Truist Financial upped their price objective on shares of Diamondback Energy from $238.00 to $242.00 and gave the stock a “buy” rating in a report on Thursday, April 17th. Three analysts have rated the stock with a hold rating, nineteen have assigned a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $204.29.

Insider Buying and Selling

In related news, Director Frank D. Tsuru purchased 2,000 shares of the firm’s stock in a transaction on Friday, February 28th. The shares were acquired at an average price of $156.51 per share, for a total transaction of $313,020.00. Following the purchase, the director now directly owns 5,730 shares in the company, valued at $896,802.30. This trade represents a 53.62 % increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 0.48% of the stock is currently owned by company insiders.

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.