Diamondback Energy, Inc. $FANG Holdings Increased by Teacher Retirement System of Texas

Teacher Retirement System of Texas grew its stake in shares of Diamondback Energy, Inc. (NASDAQ:FANG) by 327.4% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 156,221 shares of the oil and natural gas company’s stock after buying an additional 119,673 shares during the quarter. Teacher Retirement System of Texas owned about 0.05% of Diamondback Energy worth $21,465,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors also recently made changes to their positions in FANG. Nuveen LLC bought a new stake in shares of Diamondback Energy during the 1st quarter worth about $230,039,000. Adage Capital Partners GP L.L.C. bought a new stake in shares of Diamondback Energy in the 1st quarter worth approximately $77,622,000. Wellington Management Group LLP raised its holdings in shares of Diamondback Energy by 27.3% in the 1st quarter. Wellington Management Group LLP now owns 1,950,160 shares of the oil and natural gas company’s stock worth $311,792,000 after purchasing an additional 418,431 shares in the last quarter. Victory Capital Management Inc. raised its holdings in shares of Diamondback Energy by 50.6% in the 1st quarter. Victory Capital Management Inc. now owns 1,135,759 shares of the oil and natural gas company’s stock worth $181,585,000 after purchasing an additional 381,542 shares in the last quarter. Finally, Boston Partners raised its holdings in shares of Diamondback Energy by 4.8% in the 1st quarter. Boston Partners now owns 5,418,840 shares of the oil and natural gas company’s stock worth $861,961,000 after purchasing an additional 249,098 shares in the last quarter. 90.01% of the stock is currently owned by institutional investors.

Diamondback Energy Stock Performance

Shares of FANG opened at $141.14 on Wednesday. The company’s 50 day moving average price is $142.75 and its 200 day moving average price is $141.23. Diamondback Energy, Inc. has a 52 week low of $114.00 and a 52 week high of $186.07. The company has a market capitalization of $40.86 billion, a PE ratio of 10.03 and a beta of 1.04. The company has a debt-to-equity ratio of 0.35, a quick ratio of 0.52 and a current ratio of 0.55.

Diamondback Energy (NASDAQ:FANG) last announced its quarterly earnings data on Monday, August 4th. The oil and natural gas company reported $2.67 EPS for the quarter, missing analysts’ consensus estimates of $2.72 by ($0.05). Diamondback Energy had a net margin of 27.25% and a return on equity of 9.48%. The company had revenue of $3.68 billion for the quarter, compared to analysts’ expectations of $3.35 billion. During the same period in the previous year, the firm posted $4.52 earnings per share. The business’s revenue for the quarter was up 48.1% on a year-over-year basis. Research analysts expect that Diamondback Energy, Inc. will post 15.49 EPS for the current fiscal year.

Diamondback Energy Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, August 21st. Investors of record on Thursday, August 14th were given a dividend of $1.00 per share. The ex-dividend date of this dividend was Thursday, August 14th. This represents a $4.00 dividend on an annualized basis and a yield of 2.8%. Diamondback Energy’s payout ratio is presently 28.43%.

Wall Street Analyst Weigh In

A number of analysts recently commented on FANG shares. Piper Sandler dropped their target price on shares of Diamondback Energy from $228.00 to $222.00 and set an “overweight” rating on the stock in a report on Thursday, August 14th. Mizuho dropped their target price on shares of Diamondback Energy from $183.00 to $176.00 and set an “outperform” rating on the stock in a report on Monday, September 15th. William Blair began coverage on shares of Diamondback Energy in a report on Monday, August 25th. They issued an “outperform” rating on the stock. Barclays cut their price target on shares of Diamondback Energy from $185.00 to $178.00 and set an “overweight” rating on the stock in a report on Tuesday, October 7th. Finally, Susquehanna cut their price target on shares of Diamondback Energy to $188.00 and set a “positive” rating on the stock in a report on Monday, October 20th. Two research analysts have rated the stock with a Strong Buy rating, nineteen have given a Buy rating and one has assigned a Hold rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and a consensus price target of $189.67.

Insider Buying and Selling

In related news, Chairman Travis D. Stice sold 20,400 shares of the business’s stock in a transaction that occurred on Thursday, August 7th. The shares were sold at an average price of $142.80, for a total transaction of $2,913,120.00. Following the transaction, the chairman directly owned 102,145 shares of the company’s stock, valued at approximately $14,586,306. The trade was a 16.65% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Insiders own 0.48% of the company’s stock.

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.