New York State Teachers Retirement System boosted its stake in Diamondback Energy, Inc. (NASDAQ:FANG – Get Rating) by 0.1% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 196,431 shares of the oil and natural gas company’s stock after purchasing an additional 260 shares during the quarter. New York State Teachers Retirement System owned about 0.11% of Diamondback Energy worth $26,868,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors have also made changes to their positions in the company. Yacktman Asset Management LP bought a new position in shares of Diamondback Energy during the 3rd quarter valued at approximately $152,022,000. Pacer Advisors Inc. boosted its holdings in shares of Diamondback Energy by 33,853.6% in the 3rd quarter. Pacer Advisors Inc. now owns 787,383 shares of the oil and natural gas company’s stock worth $94,848,000 after purchasing an additional 785,064 shares during the period. State Street Corp increased its position in shares of Diamondback Energy by 7.0% during the 3rd quarter. State Street Corp now owns 11,524,297 shares of the oil and natural gas company’s stock valued at $1,388,217,000 after purchasing an additional 755,625 shares during the last quarter. Ninepoint Partners LP raised its holdings in Diamondback Energy by 636.7% during the 3rd quarter. Ninepoint Partners LP now owns 725,000 shares of the oil and natural gas company’s stock valued at $87,334,000 after buying an additional 626,594 shares during the period. Finally, Vanguard Group Inc. lifted its position in Diamondback Energy by 2.8% in the third quarter. Vanguard Group Inc. now owns 21,771,852 shares of the oil and natural gas company’s stock worth $2,622,637,000 after buying an additional 584,025 shares during the last quarter. Institutional investors own 89.76% of the company’s stock.
Wall Street Analyst Weigh In
FANG has been the topic of several recent analyst reports. Raymond James reduced their target price on shares of Diamondback Energy from $205.00 to $165.00 in a research note on Monday, March 27th. Stifel Nicolaus decreased their price objective on shares of Diamondback Energy from $176.00 to $172.00 and set a “buy” rating for the company in a research note on Thursday, March 30th. Citigroup dropped their target price on Diamondback Energy from $170.00 to $157.00 and set a “buy” rating for the company in a research report on Thursday, March 23rd. Mizuho decreased their price target on Diamondback Energy from $195.00 to $177.00 in a research note on Friday, March 10th. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and issued a $182.00 price objective on shares of Diamondback Energy in a research report on Wednesday, March 8th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating, eighteen have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, Diamondback Energy has an average rating of “Moderate Buy” and an average target price of $176.90.
Diamondback Energy Stock Up 1.4 %
Diamondback Energy (NASDAQ:FANG – Get Rating) last issued its earnings results on Tuesday, February 21st. The oil and natural gas company reported $5.29 EPS for the quarter, beating analysts’ consensus estimates of $5.20 by $0.09. Diamondback Energy had a return on equity of 29.29% and a net margin of 45.48%. The firm had revenue of $2.03 billion for the quarter, compared to analyst estimates of $2.09 billion. During the same quarter in the prior year, the firm earned $3.63 earnings per share. Diamondback Energy’s revenue for the quarter was up .4% on a year-over-year basis. Equities analysts expect that Diamondback Energy, Inc. will post 20.81 earnings per share for the current year.
Diamondback Energy Cuts Dividend
The business also recently declared a quarterly dividend, which was paid on Friday, March 10th. Shareholders of record on Friday, March 3rd were given a dividend of $2.95 per share. This represents a $11.80 annualized dividend and a yield of 8.13%. The ex-dividend date was Thursday, March 2nd. Diamondback Energy’s dividend payout ratio is currently 12.99%.
Diamondback Energy Profile
Diamondback Energy, Inc is an independent oil and natural gas company, which engages in the acquisition, development, exploration, and exploitation of unconventional, onshore oil, and natural gas reserves. It operates through the Upstream and Midstream Services segments. The Upstream segment focuses on the Permian Basin operations in West Texas.
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