Diamondback Energy, Inc. (NASDAQ:FANG) Shares Purchased by Teacher Retirement System of Texas

Teacher Retirement System of Texas raised its holdings in Diamondback Energy, Inc. (NASDAQ:FANG - Free Report) by 225.6% during the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 36,548 shares of the oil and natural gas company's stock after purchasing an additional 25,324 shares during the quarter. Teacher Retirement System of Texas' holdings in Diamondback Energy were worth $5,843,000 at the end of the most recent reporting period.

Several other hedge funds also recently added to or reduced their stakes in FANG. Rossby Financial LCC boosted its stake in shares of Diamondback Energy by 21.3% during the 1st quarter. Rossby Financial LCC now owns 2,193 shares of the oil and natural gas company's stock worth $351,000 after acquiring an additional 385 shares in the last quarter. Sumitomo Mitsui DS Asset Management Company Ltd boosted its stake in shares of Diamondback Energy by 39.9% during the 1st quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 30,601 shares of the oil and natural gas company's stock worth $4,892,000 after acquiring an additional 8,721 shares in the last quarter. Koshinski Asset Management Inc. boosted its stake in shares of Diamondback Energy by 9.8% during the 1st quarter. Koshinski Asset Management Inc. now owns 1,729 shares of the oil and natural gas company's stock worth $276,000 after acquiring an additional 154 shares in the last quarter. WASHINGTON TRUST Co boosted its stake in shares of Diamondback Energy by 119.8% during the 1st quarter. WASHINGTON TRUST Co now owns 200 shares of the oil and natural gas company's stock worth $32,000 after acquiring an additional 109 shares in the last quarter. Finally, Valley National Advisers Inc. boosted its stake in shares of Diamondback Energy by 29.4% during the 1st quarter. Valley National Advisers Inc. now owns 453 shares of the oil and natural gas company's stock worth $72,000 after acquiring an additional 103 shares in the last quarter. 90.01% of the stock is owned by hedge funds and other institutional investors.

Diamondback Energy Stock Down 2.1%

Shares of NASDAQ:FANG traded down $2.98 during trading on Monday, hitting $137.92. The company's stock had a trading volume of 1,717,127 shares, compared to its average volume of 2,555,034. The business has a 50 day moving average price of $140.42 and a two-hundred day moving average price of $149.97. The company has a market capitalization of $40.30 billion, a PE ratio of 8.44 and a beta of 1.05. The company has a debt-to-equity ratio of 0.31, a quick ratio of 0.83 and a current ratio of 0.86. Diamondback Energy, Inc. has a fifty-two week low of $114.00 and a fifty-two week high of $214.50.

Diamondback Energy (NASDAQ:FANG - Get Free Report) last posted its quarterly earnings results on Monday, May 5th. The oil and natural gas company reported $4.54 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 30.84% and a return on equity of 11.22%. The company's quarterly revenue was up 81.8% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $4.50 earnings per share. As a group, research analysts expect that Diamondback Energy, Inc. will post 15.49 EPS for the current fiscal year.

Diamondback Energy Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, May 22nd. Investors of record on Thursday, May 15th were paid a dividend of $1.00 per share. The ex-dividend date was Thursday, May 15th. This represents a $4.00 dividend on an annualized basis and a dividend yield of 2.90%. Diamondback Energy's payout ratio is currently 24.46%.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on FANG shares. Scotiabank lowered their target price on shares of Diamondback Energy from $215.00 to $175.00 and set a "sector outperform" rating on the stock in a research note on Friday, April 11th. Piper Sandler lowered their target price on shares of Diamondback Energy from $234.00 to $225.00 and set an "overweight" rating on the stock in a research note on Tuesday, May 13th. Susquehanna reduced their price target on shares of Diamondback Energy from $219.00 to $194.00 and set a "positive" rating for the company in a research report on Tuesday, April 22nd. Bank of America upped their price target on shares of Diamondback Energy from $165.00 to $170.00 and gave the stock a "buy" rating in a research report on Friday, May 23rd. Finally, Royal Bank Of Canada began coverage on shares of Diamondback Energy in a research report on Friday, May 2nd. They set an "outperform" rating and a $180.00 price target for the company. Two analysts have rated the stock with a hold rating, nineteen have given a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat.com, Diamondback Energy currently has an average rating of "Buy" and an average target price of $193.13.

Insider Activity at Diamondback Energy

In related news, President Hof Matthew Kaes Van't sold 10,000 shares of the business's stock in a transaction on Monday, May 12th. The shares were sold at an average price of $142.69, for a total transaction of $1,426,900.00. Following the completion of the transaction, the president owned 120,645 shares in the company, valued at approximately $17,214,835.05. The trade was a 7.65% 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.