Illinois Municipal Retirement Fund Sells 28,452 Shares of Diamondback Energy, Inc. (NASDAQ:FANG)

Illinois Municipal Retirement Fund lessened its position in shares of Diamondback Energy, Inc. (NASDAQ:FANG) by 25.2% during the fourth quarter, HoldingsChannel.com reports. The fund owned 84,582 shares of the oil and natural gas company’s stock after selling 28,452 shares during the period. Illinois Municipal Retirement Fund’s holdings in Diamondback Energy were worth $13,857,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of the company. Amalgamated Bank increased its holdings in shares of Diamondback Energy by 1.6% in the 4th quarter. Amalgamated Bank now owns 35,732 shares of the oil and natural gas company’s stock worth $5,854,000 after buying an additional 548 shares during the last quarter. Bank of New York Mellon Corp increased its holdings in shares of Diamondback Energy by 13.7% in the 4th quarter. Bank of New York Mellon Corp now owns 4,163,070 shares of the oil and natural gas company’s stock worth $682,036,000 after buying an additional 502,916 shares during the last quarter. Coyle Financial Counsel LLC increased its holdings in shares of Diamondback Energy by 53.7% in the 4th quarter. Coyle Financial Counsel LLC now owns 9,102 shares of the oil and natural gas company’s stock worth $1,491,000 after buying an additional 3,180 shares during the last quarter. Pine Valley Investments Ltd Liability Co increased its holdings in shares of Diamondback Energy by 7.0% in the 4th quarter. Pine Valley Investments Ltd Liability Co now owns 2,169 shares of the oil and natural gas company’s stock worth $355,000 after buying an additional 142 shares during the last quarter. Finally, IFP Advisors Inc increased its holdings in shares of Diamondback Energy by 158.5% in the 4th quarter. IFP Advisors Inc now owns 5,053 shares of the oil and natural gas company’s stock worth $828,000 after buying an additional 3,098 shares during the last quarter. Institutional investors own 90.01% of the company’s stock.

Diamondback Energy Trading Down 2.1 %

Shares of FANG opened at $151.92 on Wednesday. The stock has a market capitalization of $44.36 billion, a P/E ratio of 8.70, a PEG ratio of 1.24 and a beta of 1.86. The company has a quick ratio of 0.42, a current ratio of 0.45 and a debt-to-equity ratio of 0.31. The firm has a fifty day simple moving average of $165.36 and a two-hundred day simple moving average of $175.93. Diamondback Energy, Inc. has a twelve month low of $151.69 and a twelve month high of $214.50.

Diamondback Energy (NASDAQ:FANG) last announced its quarterly earnings results on Tuesday, February 25th. The oil and natural gas company reported $3.64 earnings per share for the quarter, beating the consensus estimate of $3.57 by $0.07. The business had revenue of $3.71 billion during the quarter, compared to analysts’ expectations of $3.55 billion. Diamondback Energy had a net margin of 33.64% and a return on equity of 13.68%. On average, research analysts anticipate that Diamondback Energy, Inc. will post 15.49 EPS for the current year.

Diamondback Energy Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, March 13th. Stockholders of record on Thursday, March 6th will be given a $1.00 dividend. This represents a $4.00 annualized dividend and a dividend yield of 2.63%. This is a boost from Diamondback Energy’s previous quarterly dividend of $0.90. The ex-dividend date of this dividend is Thursday, March 6th. Diamondback Energy’s dividend payout ratio (DPR) is currently 20.61%.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on FANG shares. JPMorgan Chase & Co. increased their price target on shares of Diamondback Energy from $191.00 to $195.00 and gave the stock an “overweight” rating in a report on Friday, January 17th. Wells Fargo & Company increased their price target on shares of Diamondback Energy from $218.00 to $219.00 and gave the stock an “overweight” rating in a report on Tuesday, December 17th. Mizuho increased their price target on shares of Diamondback Energy from $201.00 to $204.00 and gave the stock an “outperform” rating in a report on Tuesday. Raymond James increased their price target on shares of Diamondback Energy from $237.00 to $256.00 and gave the stock a “strong-buy” rating in a report on Thursday, January 23rd. Finally, Piper Sandler cut their price objective on shares of Diamondback Energy from $252.00 to $232.00 and set an “overweight” rating for the company in a research note on Tuesday, December 17th. Four equities research analysts have rated the stock with a hold rating, eighteen have assigned a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $216.09.

Diamondback Energy 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.