Diamondback Energy, Inc. (NASDAQ:FANG) Stock Holdings Lifted by Teacher Retirement System of Texas

Teacher Retirement System of Texas lifted its stake in shares of Diamondback Energy, Inc. (NASDAQ:FANG) by 807.4% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 11,224 shares of the oil and natural gas company’s stock after acquiring an additional 9,987 shares during the quarter. Teacher Retirement System of Texas’ holdings in Diamondback Energy were worth $1,839,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. Lakewood Asset Management LLC boosted its holdings in shares of 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 buying an additional 60 shares during the period. Magnolia Capital Advisors LLC increased its stake in Diamondback Energy by 2.0% in 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 buying an additional 64 shares during the period. Barden Capital Management Inc. lifted its position in Diamondback Energy by 1.5% in the 4th quarter. Barden Capital Management Inc. now owns 4,380 shares of the oil and natural gas company’s stock worth $718,000 after buying an additional 64 shares in the last quarter. Greenleaf Trust boosted its stake in shares of Diamondback Energy by 1.0% during the 4th 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 grew its holdings in shares of Diamondback Energy by 0.3% during the 4th quarter. Buckhead Capital Management LLC now owns 19,830 shares of the oil and natural gas company’s stock valued at $3,249,000 after acquiring an additional 67 shares in the last quarter. 90.01% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Diamondback Energy

In other news, Director Frank D. Tsuru acquired 2,000 shares of the company’s stock in a transaction on Friday, February 28th. The stock was purchased at an average cost of $156.51 per share, with a total value of $313,020.00. Following the acquisition, the director now owns 5,730 shares of the company’s stock, valued at $896,802.30. This trade represents a 53.62 % increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.48% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on FANG. Mizuho upped their target price on Diamondback Energy from $201.00 to $204.00 and gave the stock an “outperform” rating in a research report on Tuesday, February 25th. Morgan Stanley decreased their price target on Diamondback Energy from $227.00 to $206.00 and set an “overweight” rating for the company in a research note on Thursday. Piper Sandler lowered their price target on Diamondback Energy from $252.00 to $232.00 and set an “overweight” rating on the stock in a report on Tuesday, December 17th. Williams Trading set a $190.00 price objective on shares of Diamondback Energy in a research note on Wednesday, March 5th. Finally, The Goldman Sachs Group assumed coverage on shares of Diamondback Energy in a research note on Monday, December 2nd. They issued a “buy” rating and a $227.00 target price on the stock. Four equities research analysts have rated the stock with a hold rating, eighteen have given a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat.com, Diamondback Energy currently has an average rating of “Moderate Buy” and an average target price of $209.33.

Diamondback Energy Price Performance

NASDAQ:FANG opened at $160.23 on Friday. The firm has a market cap of $46.38 billion, a PE ratio of 9.17, a price-to-earnings-growth ratio of 1.24 and a beta of 1.85. The company’s 50-day moving average price is $159.11 and its two-hundred day moving average price is $169.88. The company has a quick ratio of 0.42, a current ratio of 0.45 and a debt-to-equity ratio of 0.31. Diamondback Energy, Inc. has a 12 month low of $137.09 and a 12 month high of $214.50.

Diamondback Energy (NASDAQ:FANG) last released its quarterly earnings results 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. The firm had revenue of $3.71 billion during the quarter, compared to analysts’ expectations of $3.55 billion. Diamondback Energy had a return on equity of 13.68% and a net margin of 33.64%. On average, equities analysts anticipate that Diamondback Energy, Inc. will post 15.49 EPS for the current fiscal year.

Diamondback Energy Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, March 13th. Shareholders of record on Thursday, March 6th were given a $1.00 dividend. This represents a $4.00 annualized dividend and a yield of 2.50%. The ex-dividend date of this dividend was Thursday, March 6th. This is a boost from Diamondback Energy’s previous quarterly dividend of $0.90. Diamondback Energy’s dividend payout ratio (DPR) is presently 25.32%.

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.