Commonwealth of Pennsylvania Public School Empls Retrmt SYS decreased its position in shares of Diamondback Energy Inc (NASDAQ:FANG) by 57.0% in the 1st quarter, HoldingsChannel reports. The fund owned 15,380 shares of the oil and natural gas company’s stock after selling 20,371 shares during the period. Commonwealth of Pennsylvania Public School Empls Retrmt SYS’s holdings in Diamondback Energy were worth $1,562,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Ranger Investment Management L.P. bought a new stake in Diamondback Energy during the fourth quarter worth $25,000. Oregon Public Employees Retirement Fund grew its holdings in Diamondback Energy by 28,126.8% during the fourth quarter. Oregon Public Employees Retirement Fund now owns 2,981,881 shares of the oil and natural gas company’s stock worth $32,000 after buying an additional 2,971,317 shares in the last quarter. Rehmann Capital Advisory Group grew its holdings in Diamondback Energy by 114.4% during the fourth quarter. Rehmann Capital Advisory Group now owns 401 shares of the oil and natural gas company’s stock worth $37,000 after buying an additional 214 shares in the last quarter. Bronfman E.L. Rothschild L.P. grew its holdings in Diamondback Energy by 136.7% during the fourth quarter. Bronfman E.L. Rothschild L.P. now owns 400 shares of the oil and natural gas company’s stock worth $37,000 after buying an additional 231 shares in the last quarter. Finally, Sun Life Financial INC bought a new stake in Diamondback Energy during the fourth quarter worth $38,000.
In other news, insider Randall J. Holder sold 4,000 shares of the company’s stock in a transaction on Monday, March 18th. The stock was sold at an average price of $104.13, for a total transaction of $416,520.00. Following the transaction, the insider now owns 14,448 shares of the company’s stock, valued at approximately $1,504,470.24. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Michael L. Hollis purchased 5,313 shares of the company’s stock in a transaction dated Friday, March 8th. The shares were purchased at an average cost of $95.12 per share, for a total transaction of $505,372.56. The disclosure for this purchase can be found here. Insiders have sold a total of 6,050 shares of company stock worth $626,158 in the last ninety days. Insiders own 0.47% of the company’s stock.
FANG stock opened at $111.02 on Monday. The company has a debt-to-equity ratio of 0.32, a quick ratio of 0.60 and a current ratio of 0.62. Diamondback Energy Inc has a 1-year low of $85.19 and a 1-year high of $140.78. The firm has a market capitalization of $18.28 billion, a price-to-earnings ratio of 18.91, a price-to-earnings-growth ratio of 0.67 and a beta of 0.80.
Diamondback Energy (NASDAQ:FANG) last issued its quarterly earnings results on Tuesday, May 7th. The oil and natural gas company reported $1.39 EPS for the quarter, beating analysts’ consensus estimates of $1.36 by $0.03. Diamondback Energy had a return on equity of 6.81% and a net margin of 27.05%. The firm had revenue of $864.00 million for the quarter, compared to analysts’ expectations of $893.16 million. During the same quarter in the prior year, the firm earned $1.64 EPS. The business’s revenue for the quarter was up 80.4% compared to the same quarter last year. As a group, research analysts predict that Diamondback Energy Inc will post 8.08 earnings per share for the current year.
The company also recently declared a quarterly dividend, which will be paid on Tuesday, June 4th. Stockholders of record on Tuesday, May 28th will be given a dividend of $0.188 per share. This represents a $0.75 dividend on an annualized basis and a dividend yield of 0.68%. The ex-dividend date of this dividend is Friday, May 24th. This is a boost from Diamondback Energy’s previous quarterly dividend of $0.13. Diamondback Energy’s dividend payout ratio is currently 8.52%.
FANG has been the subject of several recent research reports. Morgan Stanley upped their price target on Diamondback Energy from $147.00 to $154.00 and gave the stock an “overweight” rating in a report on Thursday, February 21st. KeyCorp upped their price target on Diamondback Energy from $116.00 to $124.00 and gave the stock an “overweight” rating in a report on Monday, April 22nd. ValuEngine upgraded Diamondback Energy from a “sell” rating to a “hold” rating in a report on Tuesday, April 23rd. Roth Capital set a $166.00 price target on Diamondback Energy and gave the stock a “buy” rating in a report on Tuesday, April 23rd. Finally, JPMorgan Chase & Co. reiterated an “overweight” rating and set a $148.00 price target on shares of Diamondback Energy in a report on Monday, March 11th. Three research analysts have rated the stock with a hold rating, twenty-five have issued a buy rating and two have issued a strong buy rating to the company’s stock. The company presently has an average rating of “Buy” and an average price target of $160.83.
Diamondback Energy Company Profile
Diamondback Energy, Inc, an independent oil and natural gas company, focuses on the acquisition, development, exploration, and exploitation of unconventional and onshore oil and natural gas reserves in the Permian Basin in West Texas. It primarily 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.
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