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

Public Employees Retirement Association of Colorado trimmed its holdings in shares of Diamondback Energy, Inc. (NASDAQ:FANG) by 1.0% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 74,564 shares of the oil and natural gas company’s stock after selling 736 shares during the period. Public Employees Retirement Association of Colorado’s holdings in Diamondback Energy were worth $14,927,000 as of its most recent SEC filing.

Several other institutional investors have also recently modified their holdings of the stock. Brown Advisory Inc. increased its position in Diamondback Energy by 61.8% during the fourth quarter. Brown Advisory Inc. now owns 2,244 shares of the oil and natural gas company’s stock worth $348,000 after buying an additional 857 shares in the last quarter. Corient Private Wealth LLC increased its position in Diamondback Energy by 1.8% during the 4th quarter. Corient Private Wealth LLC now owns 14,590 shares of the oil and natural gas company’s stock worth $2,263,000 after purchasing an additional 262 shares in the last quarter. CreativeOne Wealth LLC raised its stake in Diamondback Energy by 50.8% in the 4th quarter. CreativeOne Wealth LLC now owns 2,410 shares of the oil and natural gas company’s stock valued at $374,000 after purchasing an additional 812 shares during the last quarter. Franklin Resources Inc. lifted its holdings in Diamondback Energy by 14.1% in the 4th quarter. Franklin Resources Inc. now owns 50,633 shares of the oil and natural gas company’s stock valued at $7,852,000 after purchasing an additional 6,240 shares in the last quarter. Finally, Aigen Investment Management LP grew its holdings in shares of Diamondback Energy by 47.2% during the fourth quarter. Aigen Investment Management LP now owns 2,415 shares of the oil and natural gas company’s stock worth $375,000 after buying an additional 774 shares in the last quarter. 90.01% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on FANG shares. UBS Group reduced their price objective on shares of Diamondback Energy from $247.00 to $223.00 and set a “buy” rating on the stock in a research note on Wednesday. KeyCorp began coverage on Diamondback Energy in a research note on Thursday, June 27th. They set an “overweight” rating and a $225.00 price target on the stock. Jefferies Financial Group initiated coverage on Diamondback Energy in a research note on Monday, September 16th. They issued a “hold” rating and a $185.00 target price for the company. Barclays increased their target price on Diamondback Energy from $214.00 to $216.00 and gave the stock an “equal weight” rating in a research report on Wednesday, August 7th. Finally, Piper Sandler dropped their price objective on shares of Diamondback Energy from $249.00 to $240.00 and set an “overweight” rating for the company in a research note on Thursday, August 15th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating, fourteen have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $209.71.

Diamondback Energy Stock Performance

NASDAQ:FANG opened at $181.00 on Friday. The firm’s fifty day simple moving average is $192.28 and its 200 day simple moving average is $195.57. The company has a current ratio of 3.66, a quick ratio of 3.64 and a debt-to-equity ratio of 0.65. Diamondback Energy, Inc. has a twelve month low of $143.08 and a twelve month high of $214.50. The firm has a market capitalization of $32.28 billion, a price-to-earnings ratio of 10.20, a PEG ratio of 1.06 and a beta of 1.89.

Diamondback Energy (NASDAQ:FANG) last issued its quarterly earnings data on Monday, August 5th. The oil and natural gas company reported $4.52 EPS for the quarter, topping analysts’ consensus estimates of $4.51 by $0.01. Diamondback Energy had a return on equity of 19.54% and a net margin of 37.51%. The company had revenue of $2.48 billion for the quarter, compared to analysts’ expectations of $2.19 billion. During the same quarter in the previous year, the firm posted $3.68 earnings per share. The firm’s quarterly revenue was up 29.4% on a year-over-year basis. As a group, equities research analysts expect that Diamondback Energy, Inc. will post 19.08 earnings per share for the current fiscal year.

Diamondback Energy Increases Dividend

The business also recently declared a None dividend, which was paid on Thursday, August 22nd. Shareholders of record on Thursday, August 15th were issued a $2.34 dividend. This represents a yield of 1.9%. The ex-dividend date was Thursday, August 15th. This is a boost from Diamondback Energy’s previous None dividend of $2.26. Diamondback Energy’s dividend payout ratio is currently 20.29%.

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.