Retirement Systems of Alabama cut its holdings in Diamondback Energy, Inc. (NASDAQ:FANG – Free Report) by 36.3% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 54,320 shares of the oil and natural gas company’s stock after selling 30,964 shares during the quarter. Retirement Systems of Alabama’s holdings in Diamondback Energy were worth $7,342,000 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. Armstrong Advisory Group Inc. purchased a new stake in shares of Diamondback Energy in the 4th quarter worth about $25,000. Raleigh Capital Management Inc. grew its position in Diamondback Energy by 83.5% during the 4th quarter. Raleigh Capital Management Inc. now owns 189 shares of the oil and natural gas company’s stock valued at $26,000 after purchasing an additional 86 shares during the last quarter. Focused Wealth Management Inc grew its position in Diamondback Energy by 111.8% during the 1st quarter. Focused Wealth Management Inc now owns 190 shares of the oil and natural gas company’s stock valued at $26,000 after purchasing an additional 1,800 shares during the last quarter. Accel Wealth Management purchased a new stake in Diamondback Energy during the 1st quarter valued at about $27,000. Finally, FinTrust Capital Advisors LLC grew its position in Diamondback Energy by 232.8% during the 4th quarter. FinTrust Capital Advisors LLC now owns 213 shares of the oil and natural gas company’s stock valued at $29,000 after purchasing an additional 149 shares during the last quarter. 89.21% of the stock is owned by hedge funds and other institutional investors.
Insiders Place Their Bets
In other Diamondback Energy news, CFO Hof Matthew Kaes Van’t sold 7,500 shares of the firm’s stock in a transaction that occurred on Tuesday, June 13th. The shares were sold at an average price of $132.10, for a total transaction of $990,750.00. Following the sale, the chief financial officer now owns 164,980 shares in the company, valued at approximately $21,793,858. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In other Diamondback Energy news, COO Daniel N. Wesson sold 3,000 shares of the firm’s stock in a transaction that occurred on Friday, June 9th. The shares were sold at an average price of $132.51, for a total transaction of $397,530.00. Following the sale, the chief operating officer now owns 65,802 shares in the company, valued at approximately $8,719,423.02. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO Hof Matthew Kaes Van’t sold 7,500 shares of the firm’s stock in a transaction that occurred on Tuesday, June 13th. The stock was sold at an average price of $132.10, for a total transaction of $990,750.00. Following the sale, the chief financial officer now owns 164,980 shares in the company, valued at approximately $21,793,858. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 22,100 shares of company stock worth $2,920,988. Company insiders own 0.43% of the company’s stock.
Wall Street Analyst Weigh In
Diamondback Energy Price Performance
Shares of NASDAQ:FANG opened at $144.45 on Tuesday. The firm’s 50 day moving average price is $131.62 and its 200-day moving average price is $136.62. Diamondback Energy, Inc. has a twelve month low of $110.97 and a twelve month high of $168.95. The company has a quick ratio of 0.58, a current ratio of 0.62 and a debt-to-equity ratio of 0.43. The stock has a market capitalization of $26.16 billion, a PE ratio of 5.98, a price-to-earnings-growth ratio of 0.38 and a beta of 2.02.
Diamondback Energy (NASDAQ:FANG – Get Free Report) last issued its quarterly earnings data on Monday, May 1st. The oil and natural gas company reported $4.10 earnings per share for the quarter, missing the consensus estimate of $4.33 by ($0.23). Diamondback Energy had a return on equity of 27.02% and a net margin of 47.15%. The business had revenue of $1.93 billion during the quarter, compared to the consensus estimate of $1.92 billion. During the same quarter last year, the company earned $5.20 EPS. Diamondback Energy’s revenue for the quarter was down 20.1% on a year-over-year basis. Equities research analysts expect that Diamondback Energy, Inc. will post 17.13 EPS for the current year.
Diamondback Energy Cuts Dividend
The company also recently announced a quarterly dividend, which was paid on Thursday, May 18th. Shareholders of record on Thursday, May 11th were paid a dividend of $0.80 per share. This represents a $3.20 dividend on an annualized basis and a yield of 2.22%. The ex-dividend date of this dividend was Wednesday, May 10th. Diamondback Energy’s payout ratio is 13.25%.
Diamondback Energy 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 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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