New York State Common Retirement Fund decreased its holdings in shares of Diamondback Energy Inc (NASDAQ:FANG) by 7.1% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 354,424 shares of the oil and natural gas company’s stock after selling 27,180 shares during the period. New York State Common Retirement Fund owned 0.22% of Diamondback Energy worth $9,286,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. NS Partners Ltd raised its position in Diamondback Energy by 0.6% during the 4th quarter. NS Partners Ltd now owns 103,414 shares of the oil and natural gas company’s stock valued at $9,603,000 after purchasing an additional 641 shares during the last quarter. Amundi Pioneer Asset Management Inc. raised its position in Diamondback Energy by 24.0% during the 4th quarter. Amundi Pioneer Asset Management Inc. now owns 316,054 shares of the oil and natural gas company’s stock valued at $29,349,000 after purchasing an additional 61,172 shares during the last quarter. Independent Advisor Alliance bought a new position in Diamondback Energy during the 4th quarter valued at approximately $253,000. Conning Inc. bought a new position in Diamondback Energy during the 4th quarter valued at approximately $223,000. Finally, Credit Suisse AG raised its position in Diamondback Energy by 25.9% during the 4th quarter. Credit Suisse AG now owns 225,831 shares of the oil and natural gas company’s stock valued at $20,971,000 after purchasing an additional 46,494 shares during the last quarter. 96.00% of the stock is owned by institutional investors and hedge funds.

A number of research analysts have commented on FANG shares. Bank of America reaffirmed a “buy” rating and set a $57.00 price target (up previously from $52.00) on shares of Diamondback Energy in a research report on Monday, May 4th. Susquehanna Bancshares increased their target price on Diamondback Energy from $42.00 to $50.00 in a research report on Tuesday, May 5th. UBS Group decreased their target price on Diamondback Energy from $135.00 to $47.00 and set a “buy” rating for the company in a research report on Tuesday, March 31st. ValuEngine raised Diamondback Energy from a “strong sell” rating to a “sell” rating in a research report on Friday, May 1st. Finally, BidaskClub raised Diamondback Energy from a “sell” rating to a “hold” rating in a research report on Friday, April 24th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and twenty-two have issued a buy rating to the company. The company has an average rating of “Buy” and a consensus price target of $69.19.

Shares of FANG opened at $42.94 on Friday. The business’s fifty day simple moving average is $36.53 and its two-hundred day simple moving average is $62.92. The company has a current ratio of 0.95, a quick ratio of 0.93 and a debt-to-equity ratio of 0.40. Diamondback Energy Inc has a 12 month low of $14.55 and a 12 month high of $111.84. The company has a market cap of $6.77 billion, a price-to-earnings ratio of 6.55, a P/E/G ratio of 0.86 and a beta of 2.24.

Diamondback Energy (NASDAQ:FANG) last issued its earnings results on Monday, May 4th. The oil and natural gas company reported $1.45 EPS for the quarter, beating the consensus estimate of $1.29 by $0.16. Diamondback Energy had a positive return on equity of 7.03% and a negative net margin of 1.05%. The business had revenue of $899.00 million for the quarter, compared to the consensus estimate of $968.57 million. During the same period last year, the business posted $1.39 EPS. The company’s revenue was up 4.1% compared to the same quarter last year. As a group, research analysts forecast that Diamondback Energy Inc will post 2.27 EPS for the current year.

The firm also recently announced a quarterly dividend, which was paid on Thursday, May 21st. Shareholders of record on Thursday, May 14th were paid a dividend of $0.375 per share. The ex-dividend date of this dividend was Wednesday, May 13th. This represents a $1.50 annualized dividend and a yield of 3.49%. Diamondback Energy’s dividend payout ratio is 21.65%.

In other news, CFO Hof Matthew Kaes Van’t purchased 4,750 shares of the stock in a transaction dated Thursday, March 19th. The shares were purchased at an average cost of $17.23 per share, with a total value of $81,842.50. Following the acquisition, the chief financial officer now directly owns 52,130 shares of the company’s stock, valued at $898,199.90. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Travis D. Stice purchased 17,146 shares of the stock in a transaction dated Tuesday, March 10th. The shares were purchased at an average cost of $28.40 per share, for a total transaction of $486,946.40. The disclosure for this purchase can be found here. Company insiders own 0.47% of the company’s stock.

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 primarily 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.

Featured Story: How does a security become overbought?

Want to see what other hedge funds are holding FANG? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Diamondback Energy Inc (NASDAQ:FANG).

Institutional Ownership by Quarter for Diamondback Energy (NASDAQ:FANG)

Receive News & Ratings for Diamondback Energy Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Diamondback Energy and related companies with MarketBeat.com's FREE daily email newsletter.