Public Employees Retirement System of Ohio Has $15.22 Million Stake in Diamondback Energy, Inc. (NASDAQ:FANG)

Public Employees Retirement System of Ohio lowered its stake in shares of Diamondback Energy, Inc. (NASDAQ:FANG) by 0.7% in the third quarter, Holdings Channel reports. The institutional investor owned 88,306 shares of the oil and natural gas company’s stock after selling 661 shares during the period. Public Employees Retirement System of Ohio’s holdings in Diamondback Energy were worth $15,224,000 as of its most recent filing with the SEC.

Several other hedge funds have also made changes to their positions in FANG. Nomura Asset Management Co. Ltd. raised its holdings in Diamondback Energy by 20.6% in the 3rd quarter. Nomura Asset Management Co. Ltd. now owns 63,969 shares of the oil and natural gas company’s stock valued at $11,028,000 after acquiring an additional 10,924 shares in the last quarter. Y Intercept Hong Kong Ltd bought a new stake in shares of Diamondback Energy during the third quarter valued at approximately $5,292,000. Hodges Capital Management Inc. raised its stake in shares of Diamondback Energy by 40.6% in the third quarter. Hodges Capital Management Inc. now owns 10,227 shares of the oil and natural gas company’s stock valued at $1,763,000 after purchasing an additional 2,952 shares in the last quarter. Dorsey Wright & Associates bought a new position in Diamondback Energy in the third quarter worth $2,522,000. Finally, XTX Topco Ltd boosted its stake in Diamondback Energy by 111.2% during the third quarter. XTX Topco Ltd now owns 6,088 shares of the oil and natural gas company’s stock worth $1,050,000 after buying an additional 3,206 shares in the last quarter. Institutional investors own 90.01% of the company’s stock.

Diamondback Energy Trading Down 2.4 %

Shares of FANG opened at $163.15 on Wednesday. The stock’s fifty day simple moving average is $181.27 and its 200-day simple moving average is $188.82. The firm has a market capitalization of $47.64 billion, a PE ratio of 9.34, a price-to-earnings-growth ratio of 1.23 and a beta of 1.88. Diamondback Energy, Inc. has a 12-month low of $146.82 and a 12-month high of $214.50. The company has a quick ratio of 0.42, a current ratio of 0.45 and a debt-to-equity ratio of 0.31.

Diamondback Energy (NASDAQ:FANG) last released its earnings results on Monday, November 4th. The oil and natural gas company reported $3.38 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $4.62 by ($1.24). Diamondback Energy had a net margin of 33.64% and a return on equity of 13.68%. The business had revenue of $2.65 billion for the quarter, compared to analyst estimates of $2.43 billion. During the same quarter in the previous year, the company posted $5.49 earnings per share. The business’s revenue for the quarter was up 13.0% on a year-over-year basis. As a group, research analysts predict that Diamondback Energy, Inc. will post 16.26 earnings per share for the current year.

Diamondback Energy Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, November 21st. Shareholders of record on Thursday, November 14th were issued a dividend of $0.90 per share. This represents a $3.60 dividend on an annualized basis and a yield of 2.21%. The ex-dividend date was Thursday, November 14th. Diamondback Energy’s dividend payout ratio is presently 20.61%.

Insider Buying and Selling at Diamondback Energy

In related news, Director Mark Lawrence Plaumann sold 1,150 shares of the business’s stock in a transaction that occurred on Wednesday, November 13th. The shares were sold at an average price of $181.00, for a total transaction of $208,150.00. Following the completion of the transaction, the director now owns 4,712 shares in the company, valued at approximately $852,872. The trade was a 19.62 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, major shareholder Lyndal Greth sold 13,212,830 shares of the stock in a transaction on Monday, September 23rd. The stock was sold at an average price of $175.11, for a total transaction of $2,313,698,661.30. Following the completion of the sale, the insider now owns 1,037,819 shares in the company, valued at approximately $181,732,485.09. This trade represents a 92.72 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 0.48% of the company’s stock.

Wall Street Analyst Weigh In

FANG has been the subject of a number of analyst reports. Wells Fargo & Company reaffirmed a “sector outperform” rating on shares of Diamondback Energy in a report on Friday, October 18th. Susquehanna cut their price target on shares of Diamondback Energy from $237.00 to $233.00 and set a “positive” rating for the company in a research note on Friday, October 18th. Morgan Stanley upped their price objective on Diamondback Energy from $185.00 to $198.00 and gave the company an “overweight” rating in a research note on Monday, September 16th. Truist Financial raised their target price on Diamondback Energy from $220.00 to $230.00 and gave the stock a “buy” rating in a research report on Wednesday, October 16th. Finally, JPMorgan Chase & Co. initiated coverage on Diamondback Energy in a research note on Wednesday, October 2nd. They issued an “overweight” rating and a $182.00 price target on the stock. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating, seventeen have given a buy rating and two have given a strong buy rating to the company. According to MarketBeat.com, Diamondback Energy presently has a consensus rating of “Moderate Buy” and an average price target of $212.17.

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.