Diamondback Energy Inc. (FANG) Stake Decreased by Teacher Retirement System of Texas
Teacher Retirement System of Texas reduced its position in Diamondback Energy Inc. (NASDAQ:FANG) by 1.1% during the third quarter, according to its most recent filing with the SEC. The institutional investor owned 153,496 shares of the company’s stock after selling 1,743 shares during the period. Teacher Retirement System of Texas owned 0.20% of Diamondback Energy worth $14,819,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors also recently modified their holdings of the company. Parkwood LLC boosted its position in Diamondback Energy by 137.6% in the second quarter. Parkwood LLC now owns 12,008 shares of the company’s stock worth $1,189,000 after buying an additional 6,955 shares in the last quarter. Winslow Evans & Crocker Inc. acquired a new position in Diamondback Energy during the second quarter worth about $269,000. Biondo Investment Advisors LLC boosted its position in Diamondback Energy by 104.9% in the second quarter. Biondo Investment Advisors LLC now owns 71,330 shares of the company’s stock worth $6,506,000 after buying an additional 36,510 shares in the last quarter. IBM Retirement Fund boosted its position in Diamondback Energy by 1.1% in the second quarter. IBM Retirement Fund now owns 7,238 shares of the company’s stock worth $660,000 after buying an additional 77 shares in the last quarter. Finally, Copper Rock Capital Partners LLC acquired a new position in Diamondback Energy during the second quarter worth about $343,000.
Shares of Diamondback Energy Inc. (NASDAQ:FANG) traded down 1.83% on Tuesday, hitting $94.98. The stock had a trading volume of 761,202 shares. Diamondback Energy Inc. has a 12 month low of $55.48 and a 12 month high of $106.84. The stock’s market cap is $7.41 billion. The stock has a 50 day moving average of $97.95 and a 200-day moving average of $92.98.
Diamondback Energy (NASDAQ:FANG) last released its earnings results on Monday, November 7th. The company reported $0.54 EPS for the quarter, beating the Zacks’ consensus estimate of $0.34 by $0.20. The company earned $142.13 million during the quarter, compared to analysts’ expectations of $142.58 million. Diamondback Energy had a positive return on equity of 4.26% and a negative net margin of 82.83%. The firm’s revenue for the quarter was up 27.0% compared to the same quarter last year. During the same quarter last year, the business posted $0.40 EPS. Equities research analysts anticipate that Diamondback Energy Inc. will post $1.33 EPS for the current year.
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A number of research firms have issued reports on FANG. Barclays PLC lifted their target price on Diamondback Energy from $88.00 to $108.00 and gave the company an “equal weight” rating in a research report on Tuesday, October 11th. Canaccord Genuity reissued a “buy” rating and set a $116.00 price target (up from $103.00) on shares of Diamondback Energy in a research note on Tuesday, October 11th. Wunderlich lifted their price target on Diamondback Energy from $110.00 to $130.00 and gave the company a “buy” rating in a research note on Tuesday, October 11th. KLR Group lifted their price target on Diamondback Energy from $126.00 to $139.00 and gave the company a “buy” rating in a research note on Tuesday, October 11th. Finally, Williams Capital reissued a “hold” rating and set a $112.00 price target (up from $105.00) on shares of Diamondback Energy in a research note on Monday, October 10th. Four investment analysts have rated the stock with a hold rating, twenty-five have given a buy rating and one has assigned a strong buy rating to the company. The stock currently has a consensus rating of “Buy” and a consensus price target of $101.50.
In other news, COO Michael L. Hollis sold 1,000 shares of the firm’s stock in a transaction that occurred on Thursday, September 29th. The stock was sold at an average price of $95.00, for a total value of $95,000.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, COO Michael L. Hollis sold 10,000 shares of the firm’s stock in a transaction that occurred on Monday, October 10th. The shares were sold at an average price of $104.00, for a total value of $1,040,000.00. The disclosure for this sale can be found here. 0.35% of the stock is owned by insiders.
Diamondback Energy Company Profile
Diamondback Energy, Inc is an independent oil and natural gas company. The Company is focused on the acquisition, development, exploration and exploitation of unconventional onshore oil and natural gas reserves in the Permian Basin in West Texas. Its total net acreage position in the Permian Basin is approximately 84,680 net acres.
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