Diamondback Energy, Inc. (NASDAQ:FANG) Shares Purchased by Oregon Public Employees Retirement Fund

Oregon Public Employees Retirement Fund grew its holdings in shares of Diamondback Energy, Inc. (NASDAQ:FANG) by 1.9% during the first quarter, Holdings Channel reports. The firm owned 16,331 shares of the oil and natural gas company’s stock after acquiring an additional 310 shares during the quarter. Oregon Public Employees Retirement Fund’s holdings in Diamondback Energy were worth $2,611,000 as of its most recent filing with the SEC.

A number of other large investors also recently modified their holdings of the business. Wintrust Investments LLC acquired a new stake in Diamondback Energy during the fourth quarter worth about $28,000. Pinnacle Bancorp Inc. grew its holdings in shares of Diamondback Energy by 95.7% during the first quarter. Pinnacle Bancorp Inc. now owns 180 shares of the oil and natural gas company’s stock valued at $29,000 after purchasing an additional 88 shares during the last quarter. Grove Bank & Trust raised its position in shares of Diamondback Energy by 65.0% during the 1st quarter. Grove Bank & Trust now owns 203 shares of the oil and natural gas company’s stock worth $32,000 after purchasing an additional 80 shares during the period. WASHINGTON TRUST Co lifted its holdings in shares of Diamondback Energy by 119.8% in the 1st quarter. WASHINGTON TRUST Co now owns 200 shares of the oil and natural gas company’s stock worth $32,000 after purchasing an additional 109 shares during the last quarter. Finally, Fourth Dimension Wealth LLC acquired a new position in Diamondback Energy during the 4th quarter valued at approximately $33,000. 90.01% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on the stock. Barclays lowered their price target on shares of Diamondback Energy from $200.00 to $185.00 and set an “overweight” rating for the company in a research report on Wednesday, April 23rd. Mizuho decreased their target price on shares of Diamondback Energy from $186.00 to $179.00 and set an “outperform” rating for the company in a research report on Tuesday, May 13th. KeyCorp cut their price target on Diamondback Energy from $216.00 to $180.00 and set an “overweight” rating on the stock in a report on Monday, April 21st. Wells Fargo & Company boosted their price objective on Diamondback Energy from $207.00 to $208.00 and gave the stock an “overweight” rating in a research report on Monday, June 16th. Finally, Scotiabank lowered their target price on Diamondback Energy from $215.00 to $175.00 and set a “sector outperform” rating on the stock in a research report on Friday, April 11th. Two investment analysts have rated the stock with a hold rating, nineteen have given a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat.com, Diamondback Energy has an average rating of “Buy” and an average target price of $193.13.

Insider Activity

In other news, President Hof Matthew Kaes Van’t sold 10,000 shares of the business’s stock in a transaction on Monday, May 12th. The stock was sold at an average price of $142.69, for a total transaction of $1,426,900.00. Following the sale, the president directly owned 120,645 shares of the company’s stock, valued at $17,214,835.05. The trade was a 7.65% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.70% of the stock is owned by insiders.

Diamondback Energy Stock Performance

NASDAQ:FANG opened at $140.75 on Friday. The company has a 50-day moving average of $140.34 and a 200-day moving average of $150.17. The firm has a market cap of $41.12 billion, a price-to-earnings ratio of 8.61 and a beta of 1.05. The company has a current ratio of 0.86, a quick ratio of 0.83 and a debt-to-equity ratio of 0.31. Diamondback Energy, Inc. has a twelve month low of $114.00 and a twelve month high of $214.50.

Diamondback Energy (NASDAQ:FANG) last released its earnings results on Monday, May 5th. The oil and natural gas company reported $4.54 EPS for the quarter, beating the consensus estimate of $3.67 by $0.87. The business had revenue of $4.05 billion during the quarter, compared to analyst estimates of $3.58 billion. Diamondback Energy had a net margin of 30.84% and a return on equity of 11.22%. The business’s quarterly revenue was up 81.8% on a year-over-year basis. During the same period in the prior year, the business earned $4.50 earnings per share. Analysts forecast that Diamondback Energy, Inc. will post 15.49 earnings per share for the current fiscal year.

Diamondback Energy Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, May 22nd. Stockholders of record on Thursday, May 15th were paid a dividend of $1.00 per share. This represents a $4.00 annualized dividend and a dividend yield of 2.84%. The ex-dividend date was Thursday, May 15th. Diamondback Energy’s dividend payout ratio is presently 24.46%.

About Diamondback Energy

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.