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

California State Teachers Retirement System cut its holdings in Diamondback Energy, Inc. (NASDAQ:FANGFree Report) by 4.5% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 237,979 shares of the oil and natural gas company’s stock after selling 11,334 shares during the period. California State Teachers Retirement System owned about 0.13% of Diamondback Energy worth $36,906,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. CWM LLC increased its position in shares of Diamondback Energy by 1.8% during the fourth quarter. CWM LLC now owns 19,717 shares of the oil and natural gas company’s stock worth $3,058,000 after purchasing an additional 354 shares in the last quarter. Franklin Resources Inc. increased its position in shares of Diamondback Energy by 14.1% during the fourth quarter. Franklin Resources Inc. now owns 50,633 shares of the oil and natural gas company’s stock worth $7,852,000 after purchasing an additional 6,240 shares in the last quarter. Raymond James Trust N.A. increased its position in shares of Diamondback Energy by 145.2% during the fourth quarter. Raymond James Trust N.A. now owns 11,993 shares of the oil and natural gas company’s stock worth $1,860,000 after purchasing an additional 7,102 shares in the last quarter. Larson Financial Group LLC increased its position in shares of Diamondback Energy by 748.0% during the fourth quarter. Larson Financial Group LLC now owns 15,221 shares of the oil and natural gas company’s stock worth $2,361,000 after purchasing an additional 13,426 shares in the last quarter. Finally, Sequoia Financial Advisors LLC increased its position in shares of Diamondback Energy by 613.7% during the fourth quarter. Sequoia Financial Advisors LLC now owns 15,401 shares of the oil and natural gas company’s stock worth $2,388,000 after purchasing an additional 13,243 shares in the last quarter. 90.01% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on FANG shares. Bank of America raised Diamondback Energy from an “underperform” rating to a “neutral” rating and raised their price target for the stock from $129.00 to $170.00 in a report on Monday, February 12th. Royal Bank of Canada raised their price target on Diamondback Energy from $195.00 to $220.00 and gave the stock an “outperform” rating in a report on Monday, May 6th. Mizuho raised their price target on Diamondback Energy from $217.00 to $222.00 and gave the stock a “buy” rating in a report on Monday, May 13th. Scotiabank raised their price target on Diamondback Energy from $210.00 to $255.00 and gave the stock a “sector outperform” rating in a report on Thursday, April 11th. Finally, Wells Fargo & Company lowered their price target on Diamondback Energy from $227.00 to $224.00 and set an “overweight” rating on the stock in a report on Thursday, May 2nd. One analyst has rated the stock with a sell rating, four have given a hold rating, fourteen have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $205.95.

Read Our Latest Analysis on Diamondback Energy

Diamondback Energy Stock Down 0.8 %

Shares of NASDAQ FANG opened at $189.22 on Wednesday. The stock has a fifty day moving average price of $200.28 and a 200 day moving average price of $176.58. The company has a current ratio of 0.92, a quick ratio of 0.89 and a debt-to-equity ratio of 0.37. Diamondback Energy, Inc. has a 12-month low of $123.41 and a 12-month high of $211.96. The company has a market cap of $33.75 billion, a P/E ratio of 10.67 and a beta of 1.90.

Diamondback Energy (NASDAQ:FANGGet Free Report) last posted its earnings results on Tuesday, April 30th. The oil and natural gas company reported $4.50 EPS for the quarter, topping analysts’ consensus estimates of $4.29 by $0.21. Diamondback Energy had a net margin of 36.71% and a return on equity of 19.36%. The business had revenue of $2.23 billion for the quarter, compared to analysts’ expectations of $2.10 billion. During the same period in the previous year, the company posted $4.10 earnings per share. The business’s revenue for the quarter was up 15.7% compared to the same quarter last year. Research analysts anticipate that Diamondback Energy, Inc. will post 19.1 EPS for the current fiscal year.

Diamondback Energy Cuts Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, May 22nd. Stockholders of record on Wednesday, May 15th were paid a dividend of $0.90 per share. This represents a $3.60 annualized dividend and a dividend yield of 1.90%. The ex-dividend date of this dividend was Tuesday, May 14th. Diamondback Energy’s dividend payout ratio (DPR) is currently 20.29%.

Insider Buying and Selling at Diamondback Energy

In related news, VP Jere W. Thompson III sold 2,675 shares of the firm’s stock in a transaction that occurred on Tuesday, March 19th. The stock was sold at an average price of $192.35, for a total value of $514,536.25. Following the sale, the vice president now owns 8,485 shares of the company’s stock, valued at approximately $1,632,089.75. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In other Diamondback Energy news, VP Jere W. Thompson III sold 2,675 shares of Diamondback Energy stock in a transaction on Tuesday, March 19th. The stock was sold at an average price of $192.35, for a total transaction of $514,536.25. Following the sale, the vice president now owns 8,485 shares of the company’s stock, valued at approximately $1,632,089.75. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Travis D. Stice sold 30,000 shares of the business’s stock in a transaction on Tuesday, April 2nd. The stock was sold at an average price of $200.00, for a total value of $6,000,000.00. Following the completion of the sale, the chief executive officer now directly owns 446,610 shares in the company, valued at approximately $89,322,000. The disclosure for this sale can be found here. Insiders have sold 64,575 shares of company stock worth $12,673,846 in the last ninety days. 0.48% of the stock is owned by insiders.

About Diamondback Energy

(Free Report)

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.

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Institutional Ownership by Quarter for Diamondback Energy (NASDAQ:FANG)

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