California State Teachers Retirement System Sells 8,773 Shares of Diamondback Energy, Inc. (NASDAQ:FANG)

California State Teachers Retirement System trimmed its holdings in shares of Diamondback Energy, Inc. (NASDAQ:FANG - Free Report) by 3.7% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 227,033 shares of the oil and natural gas company's stock after selling 8,773 shares during the period. California State Teachers Retirement System owned approximately 0.08% of Diamondback Energy worth $37,195,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of FANG. QRG Capital Management Inc. boosted its stake in Diamondback Energy by 38.4% during the fourth quarter. QRG Capital Management Inc. now owns 11,675 shares of the oil and natural gas company's stock valued at $1,913,000 after buying an additional 3,238 shares in the last quarter. Swedbank AB boosted its stake in Diamondback Energy by 28.0% during the fourth quarter. Swedbank AB now owns 198,283 shares of the oil and natural gas company's stock valued at $32,485,000 after buying an additional 43,361 shares in the last quarter. Tokio Marine Asset Management Co. Ltd. boosted its stake in Diamondback Energy by 631.1% during the fourth quarter. Tokio Marine Asset Management Co. Ltd. now owns 43,148 shares of the oil and natural gas company's stock valued at $7,069,000 after buying an additional 37,246 shares in the last quarter. Tectonic Advisors LLC boosted its stake in Diamondback Energy by 38.2% during the fourth quarter. Tectonic Advisors LLC now owns 31,467 shares of the oil and natural gas company's stock valued at $5,155,000 after buying an additional 8,704 shares in the last quarter. Finally, Candriam S.C.A. boosted its stake in Diamondback Energy by 27.4% during the fourth quarter. Candriam S.C.A. now owns 21,040 shares of the oil and natural gas company's stock valued at $3,447,000 after buying an additional 4,529 shares in the last quarter. 90.01% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on FANG shares. KeyCorp decreased their target price on Diamondback Energy from $216.00 to $180.00 and set an "overweight" rating for the company in a research note on Monday, April 21st. Citigroup raised Diamondback Energy from a "reduce" rating to a "buy" rating and raised their target price for the company from $157.00 to $180.00 in a research note on Monday, April 7th. Morgan Stanley decreased their price target on Diamondback Energy from $186.00 to $183.00 and set an "overweight" rating for the company in a research report on Friday, May 23rd. UBS Group dropped their price target on Diamondback Energy from $175.00 to $163.00 and set a "buy" rating on the stock in a research note on Thursday, April 17th. Finally, Evercore ISI started coverage on Diamondback Energy in a research note on Tuesday, May 6th. They issued an "outperform" rating and a $165.00 price target on the stock. Two investment analysts have rated the stock with a hold rating, nineteen have assigned a buy rating and two have given a strong buy rating to the stock. According to MarketBeat.com, the stock has an average rating of "Buy" and an average target price of $193.09.

Diamondback Energy Stock Down 2.0%

NASDAQ FANG traded down $2.82 during trading on Friday, reaching $134.99. 4,362,783 shares of the company's stock were exchanged, compared to its average volume of 2,168,876. Diamondback Energy, Inc. has a fifty-two week low of $114.00 and a fifty-two week high of $214.50. The firm has a market capitalization of $39.44 billion, a PE ratio of 7.73, a P/E/G ratio of 1.24 and a beta of 1.06. The company has a current ratio of 0.45, a quick ratio of 0.42 and a debt-to-equity ratio of 0.31. The company's fifty day simple moving average is $137.66 and its 200-day simple moving average is $155.21.

Diamondback Energy (NASDAQ:FANG - Get Free Report) last announced its quarterly earnings data on Monday, May 5th. The oil and natural gas company reported $4.54 EPS for the quarter, topping analysts' consensus estimates of $3.67 by $0.87. Diamondback Energy had a return on equity of 13.68% and a net margin of 33.64%. The firm had revenue of $4.05 billion during the quarter, compared to analyst estimates of $3.58 billion. During the same period last year, the company posted $4.50 EPS. The business's quarterly revenue was up 81.8% compared to the same quarter last year. Sell-side analysts predict that Diamondback Energy, Inc. will post 15.49 EPS for the current year.

Diamondback Energy Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, May 22nd. Stockholders of record on Thursday, May 15th were issued a dividend of $1.00 per share. The ex-dividend date was Thursday, May 15th. This represents a $4.00 annualized dividend and a dividend yield of 2.96%. Diamondback Energy's dividend payout ratio is 24.46%.

Insider Activity

In other news, President Hof Matthew Kaes Van't sold 10,000 shares of Diamondback Energy stock in a transaction dated Monday, May 12th. The stock was sold at an average price of $142.69, for a total transaction of $1,426,900.00. Following the completion of the sale, the president now directly owns 120,645 shares in the company, valued at $17,214,835.05. The trade was a 7.65% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 0.70% of the stock is owned by corporate insiders.

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.