Diamondback Energy, Inc. (NASDAQ:FANG) Shares Sold by Teachers Retirement System of The State of Kentucky

Teachers Retirement System of The State of Kentucky reduced its holdings in shares of Diamondback Energy, Inc. (NASDAQ:FANG) by 6.3% in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 43,516 shares of the oil and natural gas company’s stock after selling 2,938 shares during the quarter. Teachers Retirement System of The State of Kentucky’s holdings in Diamondback Energy were worth $8,711,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also made changes to their positions in FANG. Vanguard Group Inc. boosted its position in shares of Diamondback Energy by 0.8% in the 4th quarter. Vanguard Group Inc. now owns 21,869,787 shares of the oil and natural gas company’s stock valued at $3,391,567,000 after purchasing an additional 176,208 shares during the period. Price T Rowe Associates Inc. MD boosted its position in shares of Diamondback Energy by 38.2% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 8,609,143 shares of the oil and natural gas company’s stock valued at $1,706,076,000 after purchasing an additional 2,381,488 shares during the period. Bank of New York Mellon Corp boosted its position in shares of Diamondback Energy by 16.0% in the 2nd quarter. Bank of New York Mellon Corp now owns 3,012,329 shares of the oil and natural gas company’s stock valued at $603,038,000 after purchasing an additional 415,902 shares during the period. Boston Partners boosted its position in shares of Diamondback Energy by 235.6% in the 1st quarter. Boston Partners now owns 2,730,482 shares of the oil and natural gas company’s stock valued at $541,844,000 after purchasing an additional 1,916,900 shares during the period. Finally, Massachusetts Financial Services Co. MA boosted its position in shares of Diamondback Energy by 10.1% in the 2nd quarter. Massachusetts Financial Services Co. MA now owns 2,690,181 shares of the oil and natural gas company’s stock valued at $538,547,000 after purchasing an additional 247,065 shares during the period. 90.01% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Diamondback Energy

In other news, major shareholder Lyndal Greth sold 13,212,830 shares of the firm’s stock in a transaction on Monday, September 23rd. The stock was sold at an average price of $175.11, for a total transaction of $2,313,698,661.30. Following the sale, the insider now owns 1,037,819 shares in the company, valued at $181,732,485.09. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.48% of the stock is owned by insiders.

Diamondback Energy Price Performance

Shares of NASDAQ:FANG opened at $181.29 on Thursday. The business’s fifty day moving average price is $187.75 and its two-hundred day moving average price is $195.25. The stock has a market cap of $32.33 billion, a PE ratio of 10.22, a price-to-earnings-growth ratio of 1.17 and a beta of 1.89. The company has a debt-to-equity ratio of 0.65, a quick ratio of 3.64 and a current ratio of 3.66. Diamondback Energy, Inc. has a one year low of $143.08 and a one year high of $214.50.

Diamondback Energy (NASDAQ:FANG) last announced its earnings results on Monday, August 5th. The oil and natural gas company reported $4.52 EPS for the quarter, beating analysts’ consensus estimates of $4.51 by $0.01. The firm had revenue of $2.48 billion for the quarter, compared to analysts’ expectations of $2.19 billion. Diamondback Energy had a return on equity of 19.54% and a net margin of 37.51%. Diamondback Energy’s quarterly revenue was up 29.4% on a year-over-year basis. During the same quarter in the prior year, the firm earned $3.68 EPS. On average, analysts forecast that Diamondback Energy, Inc. will post 18.97 EPS for the current fiscal year.

Diamondback Energy Increases Dividend

The business also recently announced a None dividend, which was paid on Thursday, August 22nd. Shareholders of record on Thursday, August 15th were issued a dividend of $2.34 per share. This represents a yield of 1.9%. The ex-dividend date was Thursday, August 15th. This is a boost from Diamondback Energy’s previous None dividend of $2.26. Diamondback Energy’s dividend payout ratio is 20.29%.

Wall Street Analyst Weigh In

FANG has been the subject of several analyst reports. Susquehanna reduced their price objective on Diamondback Energy from $245.00 to $237.00 and set a “positive” rating for the company in a research note on Wednesday, September 4th. Wells Fargo & Company reduced their price objective on Diamondback Energy from $230.00 to $219.00 and set an “overweight” rating for the company in a research note on Tuesday. Jefferies Financial Group initiated coverage on Diamondback Energy in a research note on Monday, September 16th. They set a “hold” rating and a $185.00 price objective for the company. KeyCorp initiated coverage on Diamondback Energy in a research note on Thursday, June 27th. They set an “overweight” rating and a $225.00 price objective for the company. Finally, Evercore ISI reduced their price objective on Diamondback Energy from $235.00 to $209.00 and set an “outperform” rating for the company in a research note on Monday. One research analyst has rated the stock with a sell rating, six have given a hold rating, sixteen have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $205.82.

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.