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

Teacher Retirement System of Texas grew its position in shares of Diamondback Energy, Inc. (NASDAQ:FANG) by 807.4% in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 11,224 shares of the oil and natural gas company’s stock after buying an additional 9,987 shares during the quarter. Teacher Retirement System of Texas’ holdings in Diamondback Energy were worth $1,839,000 as of its most recent filing with the SEC.

Other hedge funds also recently made changes to their positions in the company. Independent Advisor Alliance boosted its position in shares of Diamondback Energy by 10.9% during the 3rd quarter. Independent Advisor Alliance now owns 2,455 shares of the oil and natural gas company’s stock worth $423,000 after purchasing an additional 241 shares in the last quarter. DRW Securities LLC purchased a new stake in Diamondback Energy during the third quarter worth about $201,000. Brown Brothers Harriman & Co. grew its position in Diamondback Energy by 27.7% during the third quarter. Brown Brothers Harriman & Co. now owns 443 shares of the oil and natural gas company’s stock worth $76,000 after buying an additional 96 shares during the period. The Manufacturers Life Insurance Company lifted its position in shares of Diamondback Energy by 17.5% during the 3rd quarter. The Manufacturers Life Insurance Company now owns 171,737 shares of the oil and natural gas company’s stock valued at $29,607,000 after acquiring an additional 25,603 shares during the period. Finally, D.A. Davidson & CO. grew its holdings in shares of Diamondback Energy by 8.3% in the 3rd quarter. D.A. Davidson & CO. now owns 14,185 shares of the oil and natural gas company’s stock worth $2,446,000 after acquiring an additional 1,092 shares during the period. Institutional investors and hedge funds own 90.01% of the company’s stock.

Diamondback Energy Stock Down 1.8 %

FANG stock opened at $160.23 on Friday. Diamondback Energy, Inc. has a fifty-two week low of $137.09 and a fifty-two week high of $214.50. The company has a quick ratio of 0.42, a current ratio of 0.45 and a debt-to-equity ratio of 0.31. The stock has a market cap of $46.38 billion, a PE ratio of 9.17, a price-to-earnings-growth ratio of 1.24 and a beta of 1.85. The firm’s 50-day simple moving average is $159.11 and its 200 day simple moving average is $169.88.

Diamondback Energy (NASDAQ:FANG) last released its quarterly earnings results on Tuesday, February 25th. The oil and natural gas company reported $3.64 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.57 by $0.07. Diamondback Energy had a return on equity of 13.68% and a net margin of 33.64%. The company had revenue of $3.71 billion during the quarter, compared to analysts’ expectations of $3.55 billion. As a group, sell-side analysts predict that Diamondback Energy, Inc. will post 15.49 EPS for the current year.

Diamondback Energy Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, March 13th. Shareholders of record on Thursday, March 6th were given a dividend of $1.00 per share. This represents a $4.00 dividend on an annualized basis and a dividend yield of 2.50%. This is an increase from Diamondback Energy’s previous quarterly dividend of $0.90. The ex-dividend date was Thursday, March 6th. Diamondback Energy’s payout ratio is 25.32%.

Insider Transactions at Diamondback Energy

In other news, Director Frank D. Tsuru bought 2,000 shares of the company’s stock in a transaction that occurred on Friday, February 28th. The shares were purchased at an average price of $156.51 per share, with a total value of $313,020.00. Following the completion of the acquisition, the director now directly owns 5,730 shares in the company, valued at approximately $896,802.30. This trade represents a 53.62 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 0.48% of the company’s stock.

Wall Street Analysts Forecast Growth

FANG has been the topic of several research reports. The Goldman Sachs Group started coverage on Diamondback Energy in a report on Monday, December 2nd. They issued a “buy” rating and a $227.00 target price on the stock. Truist Financial upped their target price on Diamondback Energy from $236.00 to $238.00 and gave the company a “buy” rating in a research note on Wednesday, February 19th. Williams Trading set a $190.00 target price on shares of Diamondback Energy in a research note on Wednesday, March 5th. Raymond James cut their price target on Diamondback Energy from $245.00 to $214.00 and set a “strong-buy” rating for the company in a report on Wednesday, March 12th. Finally, Wells Fargo & Company cut their price target on shares of Diamondback Energy from $219.00 to $215.00 and set an “overweight” rating on the stock in a report on Wednesday, March 12th. Four research analysts have rated the stock with a hold rating, eighteen have given a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat, Diamondback Energy presently has a consensus rating of “Moderate Buy” and a consensus price target of $209.33.

Diamondback Energy Company 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.