Oregon Public Employees Retirement Fund Acquires 5,301 Shares of Diamondback Energy, Inc. $FANG

Oregon Public Employees Retirement Fund increased its holdings in shares of Diamondback Energy, Inc. (NASDAQ:FANG) by 32.9% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 21,432 shares of the oil and natural gas company’s stock after buying an additional 5,301 shares during the period. Oregon Public Employees Retirement Fund’s holdings in Diamondback Energy were worth $3,067,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Vanguard Group Inc. lifted its holdings in shares of Diamondback Energy by 1.7% during the second quarter. Vanguard Group Inc. now owns 23,325,287 shares of the oil and natural gas company’s stock worth $3,204,894,000 after purchasing an additional 388,512 shares during the period. Boston Partners raised its position in Diamondback Energy by 2.8% during the 2nd quarter. Boston Partners now owns 5,569,990 shares of the oil and natural gas company’s stock worth $766,914,000 after purchasing an additional 151,150 shares during the last quarter. Geode Capital Management LLC raised its position in Diamondback Energy by 2.7% during the 2nd quarter. Geode Capital Management LLC now owns 5,441,649 shares of the oil and natural gas company’s stock worth $746,526,000 after purchasing an additional 142,649 shares during the last quarter. Bank of New York Mellon Corp lifted its holdings in Diamondback Energy by 9.0% during the 2nd quarter. Bank of New York Mellon Corp now owns 4,642,218 shares of the oil and natural gas company’s stock worth $637,841,000 after buying an additional 384,971 shares during the period. Finally, Raymond James Financial Inc. grew its position in shares of Diamondback Energy by 9.2% in the 2nd quarter. Raymond James Financial Inc. now owns 1,952,276 shares of the oil and natural gas company’s stock valued at $268,243,000 after buying an additional 164,293 shares during the last quarter. 90.01% of the stock is currently owned by institutional investors and hedge funds.

Diamondback Energy Stock Performance

NASDAQ:FANG opened at $147.41 on Monday. The company has a quick ratio of 0.60, a current ratio of 0.62 and a debt-to-equity ratio of 0.35. Diamondback Energy, Inc. has a twelve month low of $114.00 and a twelve month high of $180.91. The company has a fifty day moving average of $149.33 and a 200-day moving average of $144.96. The firm has a market capitalization of $42.22 billion, a P/E ratio of 10.24 and a beta of 0.59.

Diamondback Energy (NASDAQ:FANG) last posted its quarterly earnings results on Monday, November 3rd. The oil and natural gas company reported $3.08 EPS for the quarter, topping analysts’ consensus estimates of $2.94 by $0.14. Diamondback Energy had a net margin of 27.32% and a return on equity of 9.57%. The business had revenue of $3.92 billion during the quarter, compared to analysts’ expectations of $3.48 billion. During the same period last year, the company posted $3.19 earnings per share. The business’s quarterly revenue was up 48.4% on a year-over-year basis. As a group, sell-side analysts anticipate that Diamondback Energy, Inc. will post 15.49 EPS for the current year.

Diamondback Energy Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, November 20th. Investors of record on Thursday, November 13th were given a $1.00 dividend. This represents a $4.00 dividend on an annualized basis and a yield of 2.7%. The ex-dividend date of this dividend was Thursday, November 13th. Diamondback Energy’s payout ratio is presently 27.80%.

Insiders Place Their Bets

In related news, Director Charles Alvin Meloy sold 377,911 shares of the company’s stock in a transaction that occurred on Thursday, December 4th. The stock was sold at an average price of $138.61, for a total transaction of $52,382,243.71. Following the transaction, the director directly owned 1,044,864 shares of the company’s stock, valued at approximately $144,828,599.04. This represents a 26.56% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 0.48% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have recently issued reports on FANG. Wall Street Zen downgraded Diamondback Energy from a “hold” rating to a “sell” rating in a research report on Saturday, December 27th. Barclays decreased their target price on shares of Diamondback Energy from $185.00 to $178.00 and set an “overweight” rating for the company in a research report on Tuesday, October 7th. Morgan Stanley restated an “overweight” rating and issued a $183.00 price target on shares of Diamondback Energy in a research report on Thursday, November 20th. Royal Bank Of Canada reiterated an “outperform” rating and set a $173.00 price objective on shares of Diamondback Energy in a research report on Friday, October 10th. Finally, Susquehanna dropped their target price on shares of Diamondback Energy to $188.00 and set a “positive” rating on the stock in a report on Monday, October 20th. One equities research analyst has rated the stock with a Strong Buy rating, twenty have given a Buy rating and one has issued a Hold rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Buy” and an average price target of $188.67.

Diamondback Energy Company Profile

Diamondback Energy, Inc (NASDAQ: FANG) is an independent oil and natural gas company focused on the development, exploration and production of unconventional resources in the Permian Basin. Headquartered in Midland, Texas, the company concentrates its operations in the core Midland and Delaware sub‑basins of West Texas and southeastern New Mexico, where it pursues contiguous acreage positions to support repeatable drilling programs.

Diamondback’s activities span the upstream value chain, including leasehold acquisition, well planning, drilling, completion and production optimization.