Diamondback Energy, Inc. (NASDAQ:FANG) Shares Sold by Public Employees Retirement System of Ohio

Public Employees Retirement System of Ohio decreased its holdings in shares of Diamondback Energy, Inc. (NASDAQ:FANG - Free Report) by 2.4% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 86,210 shares of the oil and natural gas company's stock after selling 2,096 shares during the quarter. Public Employees Retirement System of Ohio's holdings in Diamondback Energy were worth $14,124,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also made changes to their positions in the company. UMB Bank n.a. raised its holdings in Diamondback Energy by 247.3% in the fourth quarter. UMB Bank n.a. now owns 191 shares of the oil and natural gas company's stock valued at $31,000 after acquiring an additional 136 shares in the last quarter. Geneos Wealth Management Inc. acquired a new stake in shares of Diamondback Energy in the 4th quarter valued at about $161,000. Tributary Capital Management LLC lifted its position in shares of Diamondback Energy by 26.7% during the fourth quarter. Tributary Capital Management LLC now owns 2,255 shares of the oil and natural gas company's stock worth $369,000 after purchasing an additional 475 shares during the last quarter. Asio Capital LLC grew its stake in Diamondback Energy by 3.6% in the fourth quarter. Asio Capital LLC now owns 32,646 shares of the oil and natural gas company's stock worth $5,348,000 after purchasing an additional 1,124 shares in the last quarter. Finally, Jamison Private Wealth Management Inc. acquired a new stake in Diamondback Energy during the fourth quarter valued at approximately $426,000. 90.01% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Diamondback Energy

In related news, President Hof Matthew Kaes Van't sold 10,000 shares of the firm's 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 sale, the president now directly owns 120,645 shares of the company's stock, valued at $17,214,835.05. This trade represents a 7.65% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.70% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on the company. Williams Trading set a $190.00 target price on Diamondback Energy in a research note on Wednesday, March 5th. Wells Fargo & Company dropped their target price on Diamondback Energy from $215.00 to $207.00 and set an "overweight" rating on the stock in a report on Monday, April 21st. Piper Sandler reduced their target price on shares of Diamondback Energy from $234.00 to $225.00 and set an "overweight" rating for the company in a research note on Tuesday, May 13th. Bank of America raised their price target on shares of Diamondback Energy from $165.00 to $170.00 and gave the company a "buy" rating in a report on Friday, May 23rd. Finally, Truist Financial increased their target price on shares of Diamondback Energy from $238.00 to $242.00 and gave the stock a "buy" rating in a research report on Thursday, April 17th. Two investment analysts have rated the stock with a hold rating, nineteen have issued a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of "Buy" and an average price target of $193.09.

Diamondback Energy Price Performance

Shares of Diamondback Energy stock traded down $3.81 during trading on Friday, reaching $134.00. 634,401 shares of the stock traded hands, compared to its average volume of 2,150,710. Diamondback Energy, Inc. has a 52-week low of $114.00 and a 52-week high of $214.50. The company has a market capitalization of $39.15 billion, a price-to-earnings ratio of 7.66, a P/E/G ratio of 1.24 and a beta of 1.06. The business has a fifty day simple moving average of $138.19 and a two-hundred day simple moving average of $155.52. The company has a debt-to-equity ratio of 0.31, a current ratio of 0.45 and a quick ratio of 0.42.

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 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.67 by $0.87. The business had revenue of $4.05 billion during the quarter, compared to the consensus estimate of $3.58 billion. Diamondback Energy had a net margin of 33.64% and a return on equity of 13.68%. The firm's quarterly revenue was up 81.8% compared to the same quarter last year. During the same quarter last year, the firm earned $4.50 earnings per share. Sell-side analysts expect that Diamondback Energy, Inc. will post 15.49 EPS for the current year.

Diamondback Energy Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, May 22nd. Stockholders of record on Thursday, May 15th were given a dividend of $1.00 per share. This represents a $4.00 dividend on an annualized basis and a dividend yield of 2.99%. The ex-dividend date of this dividend was Thursday, May 15th. Diamondback Energy's payout ratio is presently 24.46%.

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.