California Public Employees Retirement System Has $50.75 Million Position in Diamondback Energy, Inc. (NASDAQ:FANG)

California Public Employees Retirement System reduced its stake in Diamondback Energy, Inc. (NASDAQ:FANG) by 3.5% in the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 327,266 shares of the oil and natural gas company’s stock after selling 11,978 shares during the quarter. California Public Employees Retirement System owned approximately 0.18% of Diamondback Energy worth $50,752,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. Patriot Financial Group Insurance Agency LLC lifted its holdings in Diamondback Energy by 3.7% in the 3rd quarter. Patriot Financial Group Insurance Agency LLC now owns 1,797 shares of the oil and natural gas company’s stock worth $278,000 after purchasing an additional 64 shares during the last quarter. Coldstream Capital Management Inc. lifted its holdings in shares of Diamondback Energy by 1.8% during the third quarter. Coldstream Capital Management Inc. now owns 3,655 shares of the oil and natural gas company’s stock worth $566,000 after buying an additional 64 shares during the last quarter. MCF Advisors LLC lifted its holdings in shares of Diamondback Energy by 8.6% during the fourth quarter. MCF Advisors LLC now owns 846 shares of the oil and natural gas company’s stock worth $131,000 after buying an additional 67 shares during the last quarter. Veracity Capital LLC lifted its holdings in shares of Diamondback Energy by 3.5% during the third quarter. Veracity Capital LLC now owns 2,061 shares of the oil and natural gas company’s stock worth $319,000 after buying an additional 70 shares during the last quarter. Finally, Bleakley Financial Group LLC lifted its holdings in shares of Diamondback Energy by 2.5% during the fourth quarter. Bleakley Financial Group LLC now owns 3,115 shares of the oil and natural gas company’s stock worth $483,000 after buying an additional 75 shares during the last quarter. 90.01% of the stock is currently owned by institutional investors and hedge funds.

Diamondback Energy Stock Performance

Shares of NASDAQ:FANG opened at $207.10 on Friday. The business’s fifty day moving average price is $192.69 and its two-hundred day moving average price is $169.13. Diamondback Energy, Inc. has a fifty-two week low of $123.41 and a fifty-two week high of $211.96. The stock has a market capitalization of $36.93 billion, a price-to-earnings ratio of 11.94 and a beta of 1.93. The company has a debt-to-equity ratio of 0.38, a current ratio of 0.77 and a quick ratio of 0.74.

Diamondback Energy (NASDAQ:FANG) last posted its quarterly earnings data on Tuesday, February 20th. The oil and natural gas company reported $4.74 EPS for the quarter, topping analysts’ consensus estimates of $4.61 by $0.13. The company had revenue of $2.23 billion for the quarter, compared to analyst estimates of $2.16 billion. Diamondback Energy had a return on equity of 19.56% and a net margin of 37.36%. The business’s revenue was up 9.8% on a year-over-year basis. During the same quarter in the previous year, the firm earned $5.29 earnings per share. As a group, analysts predict that Diamondback Energy, Inc. will post 18.83 EPS for the current fiscal year.

Diamondback Energy Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, March 12th. Shareholders of record on Tuesday, March 5th were paid a $3.08 dividend. The ex-dividend date was Monday, March 4th. This represents a $12.32 dividend on an annualized basis and a yield of 5.95%. This is a positive change from Diamondback Energy’s previous quarterly dividend of $0.84. Diamondback Energy’s payout ratio is currently 20.76%.

Insiders Place Their Bets

In other Diamondback Energy news, VP Jere W. Thompson III sold 2,675 shares of the business’s stock in a transaction on Tuesday, March 19th. The stock was sold at an average price of $192.35, for a total value of $514,536.25. Following the transaction, the vice president now owns 8,485 shares of the company’s stock, valued at $1,632,089.75. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In other Diamondback Energy news, VP Jere W. Thompson III sold 2,675 shares of the business’s stock in a transaction on Tuesday, March 19th. The stock was sold at an average price of $192.35, for a total value of $514,536.25. Following the transaction, the vice president now owns 8,485 shares of the company’s stock, valued at $1,632,089.75. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CEO Travis D. Stice sold 30,000 shares of the business’s stock in a transaction 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 transaction, the chief executive officer now directly owns 446,610 shares in the company, valued at approximately $89,322,000. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 57,675 shares of company stock valued at $11,311,096. 0.43% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

A number of research analysts have recently commented on FANG shares. Mizuho upped their price target on Diamondback Energy from $200.00 to $217.00 and gave the stock a “buy” rating in a report on Thursday, April 11th. Scotiabank upped their price target on Diamondback Energy from $210.00 to $255.00 and gave the stock a “sector outperform” rating in a report on Thursday, April 11th. Raymond James cut their price target on Diamondback Energy from $190.00 to $185.00 and set a “strong-buy” rating for the company in a report on Wednesday, January 24th. Bank Of America (Bofa) cut their price target on Diamondback Energy from $147.00 to $129.00 and set an “underperform” rating for the company in a report on Thursday, January 18th. Finally, Piper Sandler boosted their price objective on Diamondback Energy from $227.00 to $247.00 and gave the company an “overweight” rating in a research report on Friday, April 19th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating, thirteen have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, Diamondback Energy currently has a consensus rating of “Moderate Buy” and a consensus target price of $202.53.

Diamondback Energy 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.