Alaska Permanent Fund Corp Trims Stock Holdings in Diamondback Energy, Inc. (NASDAQ:FANG)

Alaska Permanent Fund Corp reduced its stake in Diamondback Energy, Inc. (NASDAQ:FANG) by 0.5% during the 4th quarter, Holdings Channel reports. The fund owned 17,513 shares of the oil and natural gas company’s stock after selling 87 shares during the period. Alaska Permanent Fund Corp’s holdings in Diamondback Energy were worth $2,716,000 at the end of the most recent reporting period.

Several other institutional investors have also recently added to or reduced their stakes in the business. Wellington Management Group LLP boosted its position in shares of Diamondback Energy by 4.8% in the third quarter. Wellington Management Group LLP now owns 14,266,640 shares of the oil and natural gas company’s stock worth $2,209,617,000 after buying an additional 648,317 shares during the period. Morgan Stanley boosted its holdings in Diamondback Energy by 2.6% in the third quarter. Morgan Stanley now owns 3,494,159 shares of the oil and natural gas company’s stock valued at $541,175,000 after purchasing an additional 89,663 shares during the last quarter. Invesco Ltd. boosted its stake in shares of Diamondback Energy by 6.6% during the 3rd quarter. Invesco Ltd. now owns 3,320,567 shares of the oil and natural gas company’s stock valued at $514,289,000 after buying an additional 206,189 shares during the last quarter. Massachusetts Financial Services Co. MA increased its stake in shares of Diamondback Energy by 39.9% in the third quarter. Massachusetts Financial Services Co. MA now owns 3,007,599 shares of the oil and natural gas company’s stock worth $465,817,000 after buying an additional 858,446 shares during the last quarter. Finally, Northern Trust Corp boosted its stake in Diamondback Energy by 0.6% during the 3rd quarter. Northern Trust Corp now owns 1,999,579 shares of the oil and natural gas company’s stock valued at $309,695,000 after acquiring an additional 12,237 shares during the last quarter. 90.01% of the stock is currently owned by institutional investors and hedge funds.

Diamondback Energy Trading Down 0.4 %

FANG stock traded down $0.85 during midday trading on Thursday, hitting $204.39. 96,208 shares of the company’s stock were exchanged, compared to its average volume of 1,718,878. The stock’s fifty day moving average price is $192.11 and its 200-day moving average price is $168.87. The company has a debt-to-equity ratio of 0.38, a quick ratio of 0.74 and a current ratio of 0.77. The company has a market cap of $36.45 billion, a PE ratio of 11.84 and a beta of 1.93. Diamondback Energy, Inc. has a one year low of $123.41 and a one year high of $211.96.

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

Diamondback Energy Increases Dividend

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

Insider Buying and Selling at Diamondback Energy

In other Diamondback Energy news, CEO Travis D. Stice sold 30,000 shares of the stock in a transaction dated Tuesday, April 2nd. The shares were sold at an average price of $200.00, for a total value of $6,000,000.00. Following the completion of the sale, the chief executive officer now owns 446,610 shares in the company, valued at approximately $89,322,000. The transaction was disclosed in a document filed with the SEC, which is available at this link. In other news, CEO Travis D. Stice sold 30,000 shares of the firm’s stock in a transaction that occurred on Tuesday, April 2nd. The shares were sold at an average price of $200.00, for a total transaction of $6,000,000.00. Following the completion of the sale, the chief executive officer now owns 446,610 shares in the company, valued at approximately $89,322,000. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CFO Hof Matthew Kaes Van’t sold 12,000 shares of the firm’s stock in a transaction that occurred on Wednesday, March 20th. The stock was sold at an average price of $190.82, for a total transaction of $2,289,840.00. Following the sale, the chief financial officer now owns 185,882 shares of the company’s stock, valued at approximately $35,470,003.24. The disclosure for this sale can be found here. In the last 90 days, insiders sold 57,675 shares of company stock worth $11,311,096. Insiders own 0.43% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on FANG shares. KeyCorp boosted their price objective on Diamondback Energy from $210.00 to $225.00 and gave the company an “overweight” rating in a research report on Monday. UBS Group boosted their price objective on Diamondback Energy from $183.00 to $200.00 and gave the stock a “buy” rating in a research note on Wednesday, February 14th. Bank of America raised Diamondback Energy from an “underperform” rating to a “neutral” rating and upped their price target for the company from $129.00 to $170.00 in a research report on Monday, February 12th. Stifel Nicolaus upped their target price on Diamondback Energy from $224.00 to $229.00 and gave the stock a “buy” rating in a research report on Tuesday. Finally, Evercore ISI upped their target price on Diamondback Energy from $185.00 to $215.00 and gave the stock an “outperform” rating in a research report on Monday, March 25th. One analyst has rated the stock with a sell rating, five have assigned a hold rating, thirteen have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $202.53.

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.