Alaska Permanent Fund Corp Sells 87 Shares of Diamondback Energy, Inc. (NASDAQ:FANG)

Alaska Permanent Fund Corp cut its stake in Diamondback Energy, Inc. (NASDAQ:FANG) by 0.5% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 17,513 shares of the oil and natural gas company’s stock after selling 87 shares during the quarter. Alaska Permanent Fund Corp’s holdings in Diamondback Energy were worth $2,716,000 as of its most recent SEC filing.

Several other large investors also recently modified their holdings of the stock. Harvest Fund Management Co. Ltd raised its position in shares of Diamondback Energy by 8.3% in the fourth quarter. Harvest Fund Management Co. Ltd now owns 2,177 shares of the oil and natural gas company’s stock valued at $336,000 after purchasing an additional 166 shares during the period. F M Investments LLC bought a new position in shares of Diamondback Energy in the fourth quarter valued at about $1,403,000. South Dakota Investment Council increased its position in Diamondback Energy by 4.8% during the fourth quarter. South Dakota Investment Council now owns 98,895 shares of the oil and natural gas company’s stock worth $15,337,000 after acquiring an additional 4,546 shares during the period. GAMMA Investing LLC bought a new position in Diamondback Energy during the fourth quarter worth about $229,000. Finally, Parkside Financial Bank & Trust increased its position in Diamondback Energy by 8.4% during the fourth quarter. Parkside Financial Bank & Trust now owns 1,082 shares of the oil and natural gas company’s stock worth $168,000 after acquiring an additional 84 shares during the period. 90.01% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on FANG. Royal Bank of Canada restated an “outperform” rating and issued a $195.00 price target on shares of Diamondback Energy in a research note on Monday, March 4th. Truist Financial upped their target price on Diamondback Energy from $248.00 to $250.00 and gave the stock a “buy” rating in a research note on Monday. Stifel Nicolaus increased their price objective on Diamondback Energy from $224.00 to $229.00 and gave the company a “buy” rating in a research note on Tuesday. KeyCorp upped their price target on shares of Diamondback Energy from $210.00 to $225.00 and gave the company an “overweight” rating in a report on Monday. Finally, Bank Of America (Bofa) dropped their price target on shares of Diamondback Energy from $147.00 to $129.00 and set an “underperform” rating for the company in a research report on Thursday, January 18th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating, thirteen have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $202.53.

Insider Buying and Selling

In other Diamondback Energy news, COO Daniel N. Wesson sold 6,000 shares of Diamondback Energy stock in a transaction on Tuesday, March 19th. The shares were sold at an average price of $192.17, for a total transaction of $1,153,020.00. Following the completion of the transaction, the chief operating officer now directly owns 78,218 shares of the company’s stock, valued at $15,031,153.06. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, CAO Teresa L. Dick sold 2,000 shares of the business’s stock in a transaction on Wednesday, March 20th. The shares were sold at an average price of $192.00, for a total transaction of $384,000.00. Following the completion of the sale, the chief accounting officer now directly owns 96,523 shares of the company’s stock, valued at $18,532,416. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, COO Daniel N. Wesson sold 6,000 shares of the company’s stock in a transaction dated Tuesday, March 19th. The stock was sold at an average price of $192.17, for a total transaction of $1,153,020.00. Following the completion of the sale, the chief operating officer now directly owns 78,218 shares of the company’s stock, valued at $15,031,153.06. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 57,675 shares of company stock worth $11,311,096. Insiders own 0.43% of the company’s stock.

Diamondback Energy Stock Down 0.4 %

NASDAQ:FANG traded down $0.85 on Thursday, reaching $204.39. 96,208 shares of the stock traded hands, compared to its average volume of 1,718,878. The company has a market capitalization of $36.45 billion, a price-to-earnings ratio of 11.84 and a beta of 1.93. The company has a current ratio of 0.77, a quick ratio of 0.74 and a debt-to-equity ratio of 0.38. Diamondback Energy, Inc. has a 12 month low of $123.41 and a 12 month high of $211.96. The company’s fifty day simple moving average is $192.11 and its 200 day simple moving average is $168.87.

Diamondback Energy (NASDAQ:FANG) last released its quarterly earnings data on Tuesday, February 20th. The oil and natural gas company reported $4.74 earnings per share for the quarter, beating analysts’ consensus estimates of $4.61 by $0.13. The business had revenue of $2.23 billion during the quarter, compared to analyst estimates of $2.16 billion. Diamondback Energy had a net margin of 37.36% and a return on equity of 19.56%. Diamondback Energy’s revenue was up 9.8% compared to the same quarter last year. During the same period last year, the business earned $5.29 EPS. Equities analysts predict that Diamondback Energy, Inc. will post 18.84 EPS for the current fiscal year.

Diamondback Energy Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, March 12th. Stockholders of record on Tuesday, March 5th were given a dividend of $3.08 per share. The ex-dividend date was Monday, March 4th. This represents a $12.32 annualized dividend and a dividend yield of 6.03%. This is a boost from Diamondback Energy’s previous quarterly dividend of $0.84. Diamondback Energy’s dividend payout ratio (DPR) is presently 20.76%.

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.