Public Employees Retirement Association of Colorado Has $4.49 Million Holdings in Diamondback Energy, Inc. (NASDAQ:FANG)

Public Employees Retirement Association of Colorado increased its holdings in shares of Diamondback Energy, Inc. (NASDAQ:FANG) by 8.2% in the 4th quarter, HoldingsChannel.com reports. The firm owned 27,390 shares of the oil and natural gas company’s stock after acquiring an additional 2,066 shares during the period. Public Employees Retirement Association of Colorado’s holdings in Diamondback Energy were worth $4,487,000 as of its most recent SEC filing.

A number of other hedge funds have also added to or reduced their stakes in the business. Lakewood Asset Management LLC boosted its stake in shares of Diamondback Energy by 0.5% during the 4th quarter. Lakewood Asset Management LLC now owns 11,340 shares of the oil and natural gas company’s stock worth $1,858,000 after buying an additional 60 shares during the last quarter. Magnolia Capital Advisors LLC boosted its position in Diamondback Energy by 2.0% during the fourth quarter. Magnolia Capital Advisors LLC now owns 3,247 shares of the oil and natural gas company’s stock valued at $532,000 after purchasing an additional 64 shares during the last quarter. Barden Capital Management Inc. grew its stake in Diamondback Energy by 1.5% in the fourth quarter. Barden Capital Management Inc. now owns 4,380 shares of the oil and natural gas company’s stock valued at $718,000 after purchasing an additional 64 shares in the last quarter. Greenleaf Trust increased its position in shares of Diamondback Energy by 1.0% during the 4th quarter. Greenleaf Trust now owns 6,892 shares of the oil and natural gas company’s stock worth $1,129,000 after purchasing an additional 66 shares during the last quarter. Finally, Buckhead Capital Management LLC raised its stake in shares of Diamondback Energy by 0.3% during the 4th quarter. Buckhead Capital Management LLC now owns 19,830 shares of the oil and natural gas company’s stock worth $3,249,000 after purchasing an additional 67 shares in the last quarter. Institutional investors own 90.01% of the company’s stock.

Insiders Place Their Bets

In other Diamondback Energy news, Director Frank D. Tsuru purchased 2,000 shares of the stock in a transaction dated Friday, February 28th. The stock was bought at an average price of $156.51 per share, with a total value of $313,020.00. Following the acquisition, the director now owns 5,730 shares of the company’s stock, valued at approximately $896,802.30. This represents a 53.62 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through this hyperlink. Corporate insiders own 0.48% of the company’s stock.

Diamondback Energy Stock Performance

FANG opened at $136.65 on Wednesday. The company has a debt-to-equity ratio of 0.31, a quick ratio of 0.42 and a current ratio of 0.45. Diamondback Energy, Inc. has a 52-week low of $114.00 and a 52-week high of $214.50. The firm has a market cap of $40.19 billion, a P/E ratio of 7.82, a price-to-earnings-growth ratio of 1.24 and a beta of 1.44. The business’s fifty day moving average is $144.08 and its 200-day moving average is $161.99.

Diamondback Energy (NASDAQ:FANG) last announced its quarterly earnings data on Tuesday, February 25th. The oil and natural gas company reported $3.64 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.57 by $0.07. The firm had revenue of $3.71 billion for the quarter, compared to the consensus estimate of $3.55 billion. Diamondback Energy had a net margin of 33.64% and a return on equity of 13.68%. Sell-side analysts expect that Diamondback Energy, Inc. will post 15.49 EPS for the current fiscal year.

Diamondback Energy Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, March 13th. Shareholders of record on Thursday, March 6th were given a dividend of $1.00 per share. This is an increase from Diamondback Energy’s previous quarterly dividend of $0.90. This represents a $4.00 annualized dividend and a yield of 2.93%. The ex-dividend date was Thursday, March 6th. Diamondback Energy’s payout ratio is currently 25.32%.

Analyst Ratings Changes

A number of equities analysts recently weighed in on FANG shares. Susquehanna lowered their target price on shares of Diamondback Energy from $219.00 to $194.00 and set a “positive” rating on the stock in a report on Tuesday, April 22nd. JPMorgan Chase & Co. lowered their price objective on shares of Diamondback Energy from $167.00 to $166.00 and set an “overweight” rating on the stock in a research note on Thursday, April 10th. Bank of America upgraded shares of Diamondback Energy from a “neutral” rating to a “buy” rating and cut their target price for the company from $202.00 to $170.00 in a research note on Tuesday. Mizuho upped their price objective on Diamondback Energy from $201.00 to $204.00 and gave the company an “outperform” rating in a research note on Tuesday, February 25th. Finally, Piper Sandler reduced their target price on Diamondback Energy from $240.00 to $234.00 and set an “overweight” rating for the company in a research note on Tuesday, April 22nd. Two analysts have rated the stock with a hold rating, nineteen have assigned a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Buy” and an average target price of $199.00.

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.