Teachers Retirement System of The State of Kentucky Grows Holdings in Diamondback Energy, Inc. (NASDAQ:FANG)

Teachers Retirement System of The State of Kentucky increased its holdings in shares of Diamondback Energy, Inc. (NASDAQ:FANG - Free Report) by 233.6% during the third quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 145,169 shares of the oil and natural gas company's stock after purchasing an additional 101,653 shares during the period. Teachers Retirement System of The State of Kentucky's holdings in Diamondback Energy were worth $25,028,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of FANG. Carolinas Wealth Consulting LLC lifted its position in Diamondback Energy by 67.1% during the second quarter. Carolinas Wealth Consulting LLC now owns 137 shares of the oil and natural gas company's stock valued at $27,000 after acquiring an additional 55 shares during the last quarter. HHM Wealth Advisors LLC purchased a new stake in Diamondback Energy during the second quarter valued at approximately $40,000. Values First Advisors Inc. purchased a new stake in Diamondback Energy during the third quarter valued at approximately $42,000. CVA Family Office LLC lifted its position in Diamondback Energy by 28.1% during the third quarter. CVA Family Office LLC now owns 296 shares of the oil and natural gas company's stock valued at $51,000 after acquiring an additional 65 shares during the last quarter. Finally, Oliver Lagore Vanvalin Investment Group lifted its position in Diamondback Energy by 109.7% during the second quarter. Oliver Lagore Vanvalin Investment Group now owns 260 shares of the oil and natural gas company's stock valued at $52,000 after acquiring an additional 136 shares during the last quarter. 90.01% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

FANG has been the subject of a number of analyst reports. Jefferies Financial Group started coverage on shares of Diamondback Energy in a research report on Monday, September 16th. They set a "hold" rating and a $185.00 target price for the company. Raymond James raised their price target on shares of Diamondback Energy from $232.00 to $237.00 and gave the stock a "strong-buy" rating in a report on Tuesday, November 19th. Piper Sandler raised their price target on shares of Diamondback Energy from $240.00 to $252.00 and gave the stock an "overweight" rating in a report on Tuesday, October 15th. Johnson Rice cut shares of Diamondback Energy from a "strong-buy" rating to a "moderate buy" rating in a report on Tuesday, September 24th. Finally, KeyCorp decreased their price target on shares of Diamondback Energy from $225.00 to $216.00 and set an "overweight" rating for the company in a report on Wednesday, October 16th. One research analyst has rated the stock with a sell rating, five have given a hold rating, seventeen have assigned a buy rating and two have given a strong buy rating to the company's stock. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price of $212.17.

Insider Activity

In other news, major shareholder Lyndal Greth sold 13,212,830 shares of the firm's stock in a transaction dated Monday, September 23rd. The shares were sold at an average price of $175.11, for a total value of $2,313,698,661.30. Following the transaction, the insider now directly owns 1,037,819 shares of the company's stock, valued at approximately $181,732,485.09. This trade represents a 92.72 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, Director Mark Lawrence Plaumann sold 1,150 shares of Diamondback Energy stock in a transaction dated Wednesday, November 13th. The stock was sold at an average price of $181.00, for a total transaction of $208,150.00. Following the transaction, the director now directly owns 4,712 shares in the company, valued at $852,872. This trade represents a 19.62 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 0.48% of the company's stock.

Diamondback Energy Price Performance

Shares of NASDAQ FANG traded up $0.75 during trading on Wednesday, hitting $163.90. The company had a trading volume of 2,659,045 shares, compared to its average volume of 1,772,056. The stock has a fifty day simple moving average of $180.99 and a two-hundred day simple moving average of $188.60. Diamondback Energy, Inc. has a fifty-two week low of $146.82 and a fifty-two week high of $214.50. The firm has a market capitalization of $47.86 billion, a price-to-earnings ratio of 9.39, a price-to-earnings-growth ratio of 1.23 and a beta of 1.88. The company has a quick ratio of 0.42, a current ratio of 0.45 and a debt-to-equity ratio of 0.31.

Diamondback Energy (NASDAQ:FANG - Get Free Report) last announced its earnings results on Monday, November 4th. The oil and natural gas company reported $3.38 earnings per share (EPS) for the quarter, missing the consensus estimate of $4.62 by ($1.24). Diamondback Energy had a net margin of 33.64% and a return on equity of 13.68%. The company had revenue of $2.65 billion during the quarter, compared to analyst estimates of $2.43 billion. During the same quarter last year, the business earned $5.49 EPS. The firm's revenue for the quarter was up 13.0% compared to the same quarter last year. On average, research analysts expect that Diamondback Energy, Inc. will post 16.26 earnings per share for the current year.

Diamondback Energy Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, November 21st. Stockholders of record on Thursday, November 14th were given a $0.90 dividend. The ex-dividend date was Thursday, November 14th. This represents a $3.60 annualized dividend and a dividend yield of 2.20%. Diamondback Energy's dividend payout ratio (DPR) is 20.61%.

About Diamondback Energy

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.