Diamondback Energy, Inc. (NASDAQ:FANG) Shares Acquired by South Dakota Investment Council

South Dakota Investment Council lifted its holdings in shares of Diamondback Energy, Inc. (NASDAQ:FANG) by 0.5% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 94,990 shares of the oil and natural gas company’s stock after buying an additional 500 shares during the quarter. South Dakota Investment Council’s holdings in Diamondback Energy were worth $15,562,000 as of its most recent SEC filing.

Other large investors have also made changes to their positions in the company. Assenagon Asset Management S.A. raised its stake in Diamondback Energy by 1,153.0% in the 4th quarter. Assenagon Asset Management S.A. now owns 1,132,918 shares of the oil and natural gas company’s stock valued at $185,606,000 after purchasing an additional 1,042,505 shares during the last quarter. Zimmer Partners LP acquired a new position in Diamondback Energy in the 3rd quarter valued at $87,924,000. Holocene Advisors LP raised its stake in Diamondback Energy by 95.3% in the 3rd quarter. Holocene Advisors LP now owns 938,474 shares of the oil and natural gas company’s stock valued at $161,793,000 after purchasing an additional 457,896 shares during the last quarter. Diamond Hill Capital Management Inc. raised its stake in Diamondback Energy by 25.6% in the 3rd quarter. Diamond Hill Capital Management Inc. now owns 2,158,910 shares of the oil and natural gas company’s stock valued at $372,196,000 after purchasing an additional 439,579 shares during the last quarter. Finally, International Assets Investment Management LLC raised its stake in Diamondback Energy by 17,151.2% in the 3rd quarter. International Assets Investment Management LLC now owns 340,021 shares of the oil and natural gas company’s stock valued at $58,620,000 after purchasing an additional 338,050 shares during the last quarter. 90.01% of the stock is owned by institutional investors and hedge funds.

Diamondback Energy Stock Performance

Shares of Diamondback Energy stock opened at $156.12 on Friday. The business has a 50-day moving average of $165.60 and a 200 day moving average of $176.67. Diamondback Energy, Inc. has a 12 month low of $152.00 and a 12 month high of $214.50. The stock has a market capitalization of $45.59 billion, a price-to-earnings ratio of 8.94, a price-to-earnings-growth ratio of 1.24 and a beta of 1.86. The company has a debt-to-equity ratio of 0.31, a current ratio of 0.45 and a quick ratio of 0.42.

Analyst Ratings Changes

FANG has been the subject of several recent research reports. Mizuho reduced their price objective on Diamondback Energy from $219.00 to $207.00 and set an “outperform” rating for the company in a research note on Monday, December 16th. Benchmark reissued a “buy” rating and issued a $195.00 price objective on shares of Diamondback Energy in a research note on Tuesday, October 29th. Truist Financial increased their price objective on Diamondback Energy from $236.00 to $238.00 and gave the company a “buy” rating in a research note on Wednesday. UBS Group raised their target price on Diamondback Energy from $212.00 to $216.00 and gave the stock a “buy” rating in a research note on Thursday, February 13th. Finally, The Goldman Sachs Group began coverage on Diamondback Energy in a research note on Monday, December 2nd. They issued a “buy” rating and a $227.00 target price for the company. Four equities research analysts have rated the stock with a hold rating, eighteen have assigned a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $216.22.

Diamondback Energy Company Profile

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.