Louisiana State Employees Retirement System Purchases 100 Shares of Diamondback Energy, Inc. $FANG

Louisiana State Employees Retirement System grew its position in shares of Diamondback Energy, Inc. (NASDAQ:FANG) by 0.3% during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 31,300 shares of the oil and natural gas company’s stock after buying an additional 100 shares during the quarter. Louisiana State Employees Retirement System’s holdings in Diamondback Energy were worth $4,301,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors also recently modified their holdings of FANG. BankPlus Trust Department purchased a new stake in shares of Diamondback Energy during the 1st quarter worth approximately $27,000. Pinnacle Bancorp Inc. increased its stake in shares of Diamondback Energy by 95.7% during the 1st quarter. Pinnacle Bancorp Inc. now owns 180 shares of the oil and natural gas company’s stock worth $29,000 after purchasing an additional 88 shares during the last quarter. SouthState Corp increased its stake in shares of Diamondback Energy by 596.4% during the 1st quarter. SouthState Corp now owns 195 shares of the oil and natural gas company’s stock worth $31,000 after purchasing an additional 167 shares during the last quarter. Grove Bank & Trust increased its stake in shares of Diamondback Energy by 65.0% during the 1st quarter. Grove Bank & Trust now owns 203 shares of the oil and natural gas company’s stock worth $32,000 after purchasing an additional 80 shares during the last quarter. Finally, WASHINGTON TRUST Co increased its stake in shares of Diamondback Energy by 119.8% during the 1st quarter. WASHINGTON TRUST Co now owns 200 shares of the oil and natural gas company’s stock worth $32,000 after purchasing an additional 109 shares during the last quarter. Hedge funds and other institutional investors own 90.01% of the company’s stock.

Insider Activity at Diamondback Energy

In other news, Chairman Travis D. Stice sold 20,400 shares of the business’s stock in a transaction on Thursday, August 7th. The shares were sold at an average price of $142.80, for a total transaction of $2,913,120.00. Following the completion of the transaction, the chairman directly owned 102,145 shares in the company, valued at $14,586,306. The trade was a 16.65% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.70% of the stock is owned by company insiders.

Diamondback Energy Stock Up 0.1%

FANG opened at $149.07 on Thursday. The company has a fifty day moving average price of $142.72 and a 200-day moving average price of $141.45. The firm has a market capitalization of $43.15 billion, a P/E ratio of 10.59 and a beta of 1.04. The company has a debt-to-equity ratio of 0.35, a current ratio of 0.55 and a quick ratio of 0.52. Diamondback Energy, Inc. has a one year low of $114.00 and a one year high of $197.68.

Diamondback Energy (NASDAQ:FANG) last released its quarterly earnings results on Monday, August 4th. The oil and natural gas company reported $2.67 EPS for the quarter, missing analysts’ consensus estimates of $2.72 by ($0.05). The firm had revenue of $3.68 billion for the quarter, compared to analysts’ expectations of $3.35 billion. Diamondback Energy had a net margin of 27.25% and a return on equity of 9.48%. The firm’s revenue for the quarter was up 48.1% on a year-over-year basis. During the same quarter last year, the firm earned $4.52 earnings per share. Equities research analysts expect that Diamondback Energy, Inc. will post 15.49 earnings per share for the current fiscal year.

Diamondback Energy Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, August 21st. Stockholders of record on Thursday, August 14th were given a dividend of $1.00 per share. This represents a $4.00 dividend on an annualized basis and a dividend yield of 2.7%. The ex-dividend date was Thursday, August 14th. Diamondback Energy’s payout ratio is 28.43%.

Analyst Ratings Changes

Several brokerages have recently issued reports on FANG. Weiss Ratings restated a “hold (c-)” rating on shares of Diamondback Energy in a research note on Wednesday. Melius initiated coverage on shares of Diamondback Energy in a research note on Wednesday, August 20th. They issued a “buy” rating and a $213.00 price objective for the company. Wall Street Zen lowered shares of Diamondback Energy from a “hold” rating to a “sell” rating in a research note on Saturday, August 9th. Scotiabank reiterated an “outperform” rating on shares of Diamondback Energy in a research note on Friday, July 11th. Finally, Wells Fargo & Company lifted their price objective on shares of Diamondback Energy from $210.00 to $211.00 and gave the company an “overweight” rating in a research note on Thursday, August 14th. Two analysts have rated the stock with a Strong Buy rating, twenty have given a Buy rating and one has issued a Hold rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Buy” and an average price target of $192.55.

Diamondback Energy Company Profile

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.