California Public Employees Retirement System Has $50.27 Million Stock Holdings in Diamondback Energy, Inc. (NASDAQ:FANG)

California Public Employees Retirement System decreased its position in shares of Diamondback Energy, Inc. (NASDAQ:FANG) by 6.6% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 306,849 shares of the oil and natural gas company’s stock after selling 21,541 shares during the quarter. California Public Employees Retirement System owned about 0.11% of Diamondback Energy worth $50,271,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of FANG. Lakewood Asset Management LLC boosted its position in shares of Diamondback Energy by 0.5% during the fourth quarter. Lakewood Asset Management LLC now owns 11,340 shares of the oil and natural gas company’s stock worth $1,858,000 after purchasing an additional 60 shares in the last quarter. Magnolia Capital Advisors LLC lifted its holdings 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 worth $532,000 after acquiring an additional 64 shares in 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 acquiring an additional 64 shares during the period. Greenleaf Trust grew its stake in Diamondback Energy by 1.0% in the fourth quarter. Greenleaf Trust now owns 6,892 shares of the oil and natural gas company’s stock valued at $1,129,000 after acquiring an additional 66 shares during the period. Finally, Buckhead Capital Management LLC increased its holdings in shares of Diamondback Energy by 0.3% in the fourth quarter. Buckhead Capital Management LLC now owns 19,830 shares of the oil and natural gas company’s stock worth $3,249,000 after acquiring an additional 67 shares in the last quarter. Institutional investors and hedge funds own 90.01% of the company’s stock.

Insider Buying and Selling at Diamondback Energy

In related news, Director Frank D. Tsuru purchased 2,000 shares of the firm’s stock in a transaction that occurred on Friday, February 28th. The shares were acquired at an average price of $156.51 per share, for a total transaction of $313,020.00. Following the purchase, the director now owns 5,730 shares in the company, valued at approximately $896,802.30. This represents a 53.62 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Corporate insiders own 0.48% of the company’s stock.

Analyst Upgrades and Downgrades

FANG has been the subject of several research analyst reports. Barclays decreased their price objective on Diamondback Energy from $210.00 to $200.00 and set an “overweight” rating for the company in a research report on Tuesday, March 18th. Wolfe Research upgraded shares of Diamondback Energy from a “peer perform” rating to an “outperform” rating and set a $190.00 price target for the company in a report on Friday, January 3rd. Raymond James dropped their price objective on shares of Diamondback Energy from $245.00 to $214.00 and set a “strong-buy” rating on the stock in a report on Wednesday, March 12th. Mizuho upped their target price on shares of Diamondback Energy from $201.00 to $204.00 and gave the stock an “outperform” rating in a research note on Tuesday, February 25th. Finally, Royal Bank of Canada reiterated an “outperform” rating and set a $210.00 target price on shares of Diamondback Energy in a report on Thursday, January 23rd. Four equities research analysts have rated the stock with a hold rating, eighteen have issued a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat.com, Diamondback Energy has an average rating of “Moderate Buy” and a consensus target price of $209.33.

Diamondback Energy Trading Up 0.6 %

Shares of NASDAQ:FANG opened at $160.87 on Wednesday. Diamondback Energy, Inc. has a 52-week low of $137.09 and a 52-week high of $214.50. The company has a debt-to-equity ratio of 0.31, a quick ratio of 0.42 and a current ratio of 0.45. The company has a market capitalization of $46.56 billion, a P/E ratio of 9.21, a price-to-earnings-growth ratio of 1.24 and a beta of 1.85. The company has a 50-day simple moving average of $157.93 and a 200 day simple moving average of $169.57.

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

Diamondback Energy Increases Dividend

The business 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 represents a $4.00 dividend on an annualized basis and a yield of 2.49%. This is a boost from Diamondback Energy’s previous quarterly dividend of $0.90. The ex-dividend date was Thursday, March 6th. Diamondback Energy’s payout ratio is 25.32%.

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.