Teacher Retirement System of Texas Boosts Holdings in Diamondback Energy, Inc. (NASDAQ:FANG)

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

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Grove Bank & Trust lifted its position in Diamondback Energy by 65.0% during the first quarter. Grove Bank & Trust now owns 203 shares of the oil and natural gas company's stock worth $32,000 after acquiring an additional 80 shares during the last quarter. Rehmann Capital Advisory Group lifted its position in Diamondback Energy by 6.0% during the fourth quarter. Rehmann Capital Advisory Group now owns 1,439 shares of the oil and natural gas company's stock worth $236,000 after acquiring an additional 82 shares during the last quarter. Center for Financial Planning Inc. lifted its position in Diamondback Energy by 6.4% during the first quarter. Center for Financial Planning Inc. now owns 1,449 shares of the oil and natural gas company's stock worth $232,000 after acquiring an additional 87 shares during the last quarter. Pinnacle Bancorp Inc. lifted its position in Diamondback Energy by 95.7% during the first quarter. Pinnacle Bancorp Inc. now owns 180 shares of the oil and natural gas company's stock worth $29,000 after acquiring an additional 88 shares during the last quarter. Finally, Shelton Wealth Management LLC lifted its position in Diamondback Energy by 1.1% during the first quarter. Shelton Wealth Management LLC now owns 9,124 shares of the oil and natural gas company's stock worth $1,459,000 after acquiring an additional 97 shares during the last quarter. Institutional investors own 90.01% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on FANG shares. Barclays dropped their price target on shares of Diamondback Energy from $200.00 to $185.00 and set an "overweight" rating for the company in a research report on Wednesday, April 23rd. Mizuho decreased their price objective on shares of Diamondback Energy from $186.00 to $179.00 and set an "outperform" rating on the stock in a research note on Tuesday, May 13th. Scotiabank decreased their price objective 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. JPMorgan Chase & Co. decreased their price objective on shares of Diamondback Energy from $167.00 to $161.00 and set an "overweight" rating on the stock in a research note on Wednesday, May 7th. Finally, Wells Fargo & Company boosted their target price on shares of Diamondback Energy from $207.00 to $208.00 and gave the stock an "overweight" rating in a research note on Monday, June 16th. Two investment 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. According to data from MarketBeat.com, Diamondback Energy presently has an average rating of "Buy" and an average price target of $193.13.

Diamondback Energy Stock Up 2.3%

FANG stock traded up $3.13 during trading on Tuesday, reaching $141.05. The stock had a trading volume of 166,596 shares, compared to its average volume of 2,272,678. Diamondback Energy, Inc. has a one year low of $114.00 and a one year high of $214.50. The company has a quick ratio of 0.83, a current ratio of 0.86 and a debt-to-equity ratio of 0.31. The company's 50 day moving average is $140.43 and its two-hundred day moving average is $149.86. The company has a market capitalization of $41.21 billion, a price-to-earnings ratio of 8.58 and a beta of 1.05.

Diamondback Energy (NASDAQ:FANG - Get Free Report) last released its earnings results on Monday, May 5th. The oil and natural gas company reported $4.54 earnings per share for the quarter, beating analysts' consensus estimates of $3.67 by $0.87. Diamondback Energy had a net margin of 30.84% and a return on equity of 11.22%. The firm had revenue of $4.05 billion during the quarter, compared to the consensus estimate of $3.58 billion. During the same period in the prior year, the firm earned $4.50 EPS. The company's revenue was up 81.8% compared to the same quarter last year. Equities research analysts forecast that Diamondback Energy, Inc. will post 15.49 EPS for the current year.

Diamondback Energy Announces Dividend

The firm also recently declared 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. This represents a $4.00 dividend on an annualized basis and a dividend yield of 2.84%. The ex-dividend date of this dividend was Thursday, May 15th. Diamondback Energy's payout ratio is currently 24.46%.

Insider Activity at Diamondback Energy

In related news, President Hof Matthew Kaes Van't sold 10,000 shares of the company's stock in a transaction that occurred 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 sale, the president directly owned 120,645 shares in the company, valued at approximately $17,214,835.05. This represents a 7.65% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Insiders own 0.70% 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.