Diamondback Energy, Inc. (NASDAQ:FANG) Shares Bought by Public Employees Retirement Association of Colorado

Public Employees Retirement Association of Colorado lifted its holdings in shares of Diamondback Energy, Inc. (NASDAQ:FANG) by 88.7% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 190,294 shares of the oil and natural gas company’s stock after purchasing an additional 89,457 shares during the quarter. Public Employees Retirement Association of Colorado owned about 0.11% of Diamondback Energy worth $29,511,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Oppenheimer & Co. Inc. grew its holdings in Diamondback Energy by 14.8% in the fourth quarter. Oppenheimer & Co. Inc. now owns 48,852 shares of the oil and natural gas company’s stock valued at $7,576,000 after purchasing an additional 6,312 shares during the period. Crossmark Global Holdings Inc. grew its stake in shares of Diamondback Energy by 1.9% during the 4th quarter. Crossmark Global Holdings Inc. now owns 6,732 shares of the oil and natural gas company’s stock valued at $1,044,000 after buying an additional 128 shares during the period. Tower Research Capital LLC TRC increased its holdings in shares of Diamondback Energy by 180.6% during the 4th quarter. Tower Research Capital LLC TRC now owns 30,193 shares of the oil and natural gas company’s stock worth $4,682,000 after buying an additional 19,434 shares during the last quarter. First Trust Advisors LP raised its position in shares of Diamondback Energy by 14.2% in the 4th quarter. First Trust Advisors LP now owns 602,830 shares of the oil and natural gas company’s stock worth $93,487,000 after buying an additional 74,886 shares during the period. Finally, Stephens Investment Management Group LLC acquired a new position in Diamondback Energy in the fourth quarter valued at $28,828,000. Hedge funds and other institutional investors own 90.01% of the company’s stock.

Diamondback Energy Stock Down 0.0 %

NASDAQ FANG traded down $0.03 during mid-day trading on Wednesday, reaching $189.19. 825,305 shares of the company’s stock traded hands, compared to its average volume of 1,679,329. The company has a fifty day simple moving average of $200.13 and a 200-day simple moving average of $176.67. Diamondback Energy, Inc. has a 1-year low of $123.41 and a 1-year high of $211.96. The company has a market cap of $33.74 billion, a price-to-earnings ratio of 10.66 and a beta of 1.90. The company has a current ratio of 0.92, a quick ratio of 0.89 and a debt-to-equity ratio of 0.37.

Diamondback Energy (NASDAQ:FANG) last issued its earnings results on Tuesday, April 30th. The oil and natural gas company reported $4.50 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $4.29 by $0.21. Diamondback Energy had a net margin of 36.71% and a return on equity of 19.36%. The business had revenue of $2.23 billion for the quarter, compared to analyst estimates of $2.10 billion. During the same quarter in the prior year, the business posted $4.10 EPS. The company’s revenue for the quarter was up 15.7% on a year-over-year basis. As a group, equities research analysts expect that Diamondback Energy, Inc. will post 19.1 EPS for the current year.

Diamondback Energy Cuts Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, May 22nd. Investors of record on Wednesday, May 15th were given a dividend of $0.90 per share. This represents a $3.60 dividend on an annualized basis and a dividend yield of 1.90%. The ex-dividend date of this dividend was Tuesday, May 14th. Diamondback Energy’s dividend payout ratio is presently 20.29%.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on the company. Barclays began coverage on Diamondback Energy in a report on Wednesday, April 10th. They issued an “equal weight” rating and a $214.00 price objective on the stock. Piper Sandler raised their price target on shares of Diamondback Energy from $227.00 to $247.00 and gave the company an “overweight” rating in a report on Friday, April 19th. KeyCorp boosted their price objective on shares of Diamondback Energy from $210.00 to $225.00 and gave the stock an “overweight” rating in a research note on Monday, April 22nd. Evercore ISI increased their price objective on shares of Diamondback Energy from $185.00 to $215.00 and gave the stock an “outperform” rating in a research report on Monday, March 25th. Finally, BMO Capital Markets lifted their target price on shares of Diamondback Energy from $167.00 to $175.00 and gave the company a “market perform” rating in a report on Tuesday, February 13th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating, fourteen have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, Diamondback Energy presently has a consensus rating of “Moderate Buy” and an average price target of $205.95.

Insider Transactions at Diamondback Energy

In other Diamondback Energy news, COO Daniel N. Wesson sold 6,000 shares of the business’s stock in a transaction dated 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 approximately $15,031,153.06. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other Diamondback Energy news, CEO Travis D. Stice sold 30,000 shares of the company’s stock in a transaction that occurred on Tuesday, April 2nd. The stock was 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 directly owns 446,610 shares in the company, valued at $89,322,000. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, COO Daniel N. Wesson sold 6,000 shares of the stock in a transaction on Tuesday, March 19th. The shares were sold at an average price of $192.17, for a total value of $1,153,020.00. Following the transaction, 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. In the last ninety days, insiders have sold 64,575 shares of company stock worth $12,673,846. 0.48% of the stock is currently owned by company insiders.

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.