State Board of Administration of Florida Retirement System increased its holdings in Diamondback Energy Inc (NASDAQ:FANG) by 1.3% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 130,888 shares of the oil and natural gas company’s stock after acquiring an additional 1,670 shares during the quarter. State Board of Administration of Florida Retirement System owned approximately 0.13% of Diamondback Energy worth $17,695,000 at the end of the most recent quarter.
Several other institutional investors have also made changes to their positions in the company. Moody National Bank Trust Division acquired a new position in Diamondback Energy in the 3rd quarter valued at $3,043,000. Bray Capital Advisors acquired a new position in Diamondback Energy in the 3rd quarter valued at $116,000. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA increased its stake in Diamondback Energy by 21.3% in the 3rd quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA now owns 4,835 shares of the oil and natural gas company’s stock valued at $654,000 after buying an additional 850 shares during the period. Robeco Institutional Asset Management B.V. increased its stake in Diamondback Energy by 142.3% in the 3rd quarter. Robeco Institutional Asset Management B.V. now owns 10,536 shares of the oil and natural gas company’s stock valued at $1,425,000 after buying an additional 6,188 shares during the period. Finally, Emerald Advisers Inc. PA acquired a new position in Diamondback Energy in the 3rd quarter valued at $888,000.
Several equities analysts have issued reports on the stock. Zacks Investment Research raised shares of Diamondback Energy from a “hold” rating to a “buy” rating and set a $126.00 price objective on the stock in a research note on Thursday, October 25th. Williams Capital set a $171.00 price objective on shares of Diamondback Energy and gave the company a “buy” rating in a research note on Wednesday. BidaskClub cut shares of Diamondback Energy from a “buy” rating to a “hold” rating in a research note on Thursday, July 19th. BMO Capital Markets cut shares of Diamondback Energy from an “outperform” rating to a “market perform” rating and set a $150.00 price target on the stock. in a research note on Wednesday, August 15th. Finally, Oppenheimer reaffirmed a “buy” rating on shares of Diamondback Energy in a research note on Tuesday. Four investment analysts have rated the stock with a hold rating, twenty-eight have issued a buy rating and one has assigned a strong buy rating to the stock. The company currently has a consensus rating of “Buy” and a consensus target price of $156.45.
Diamondback Energy stock opened at $113.85 on Friday. Diamondback Energy Inc has a 52 week low of $105.66 and a 52 week high of $140.78. The company has a debt-to-equity ratio of 0.33, a quick ratio of 0.52 and a current ratio of 0.54. The stock has a market capitalization of $11.43 billion, a P/E ratio of 17.94, a price-to-earnings-growth ratio of 0.73 and a beta of 0.70.
Diamondback Energy (NASDAQ:FANG) last released its quarterly earnings data on Tuesday, November 6th. The oil and natural gas company reported $1.67 EPS for the quarter, topping the consensus estimate of $1.52 by $0.15. Diamondback Energy had a net margin of 33.63% and a return on equity of 11.06%. The business had revenue of $538.03 million for the quarter, compared to analyst estimates of $518.32 million. During the same period in the previous year, the firm earned $1.33 EPS. The business’s revenue for the quarter was up 78.6% compared to the same quarter last year. Analysts forecast that Diamondback Energy Inc will post 6.58 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, November 26th. Investors of record on Monday, November 19th will be given a $0.125 dividend. The ex-dividend date of this dividend is Friday, November 16th. This represents a $0.50 annualized dividend and a dividend yield of 0.44%. Diamondback Energy’s dividend payout ratio is presently 9.43%.
In related news, VP Russell Pantermuehl sold 2,000 shares of the business’s stock in a transaction dated Wednesday, September 19th. The shares were sold at an average price of $127.80, for a total value of $255,600.00. Following the sale, the vice president now directly owns 89,532 shares in the company, valued at approximately $11,442,189.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. 0.57% of the stock is owned by insiders.
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Diamondback Energy Company Profile
Diamondback Energy, Inc, an independent oil and natural gas company, focuses on the acquisition, development, exploration, and exploitation of onshore oil and natural gas reserves in the Permian Basin in West Texas. Its activities are primarily focused on the Wolfcamp, Spraberry, Clearfork, Bone Spring, and Cline formations.
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