New York State Common Retirement Fund Raises Holdings in Diamondback Energy, Inc. (NASDAQ:FANG)

New York State Common Retirement Fund increased its position in Diamondback Energy, Inc. (NASDAQ:FANG - Free Report) by 56.3% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 443,251 shares of the oil and natural gas company's stock after purchasing an additional 159,730 shares during the period. New York State Common Retirement Fund owned 0.15% of Diamondback Energy worth $70,867,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in FANG. Demars Financial Group LLC purchased a new stake in shares of Diamondback Energy in the fourth quarter worth $638,050,000. Alyeska Investment Group L.P. purchased a new stake in shares of Diamondback Energy in the fourth quarter worth $185,193,000. Price T Rowe Associates Inc. MD grew its stake in shares of Diamondback Energy by 11.3% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 9,136,645 shares of the oil and natural gas company's stock worth $1,496,859,000 after acquiring an additional 928,429 shares during the last quarter. GAMMA Investing LLC grew its stake in shares of Diamondback Energy by 16,197.8% in the first quarter. GAMMA Investing LLC now owns 605,625 shares of the oil and natural gas company's stock worth $96,827,000 after acquiring an additional 601,909 shares during the last quarter. Finally, Boston Partners grew its stake in shares of Diamondback Energy by 12.4% in the fourth quarter. Boston Partners now owns 5,169,742 shares of the oil and natural gas company's stock worth $849,202,000 after acquiring an additional 571,820 shares during the last quarter. 90.01% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Diamondback Energy

In related 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 completion of the transaction, the president owned 120,645 shares in the company, valued at $17,214,835.05. The trade was a 7.65% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.70% of the stock is currently owned by insiders.

Analyst Ratings Changes

A number of equities research analysts have recently commented on the company. Royal Bank Of Canada assumed coverage on Diamondback Energy in a research note on Friday, May 2nd. They issued an "outperform" rating and a $180.00 target price on the stock. JPMorgan Chase & Co. lowered their target price on Diamondback Energy from $167.00 to $161.00 and set an "overweight" rating on the stock in a report on Wednesday, May 7th. Piper Sandler lowered their target price on Diamondback Energy from $234.00 to $225.00 and set an "overweight" rating on the stock in a report on Tuesday, May 13th. Susquehanna lowered their target price on Diamondback Energy from $219.00 to $194.00 and set a "positive" rating on the stock in a report on Tuesday, April 22nd. Finally, KeyCorp lowered their target price on Diamondback Energy from $216.00 to $180.00 and set an "overweight" rating on the stock in a report on Monday, April 21st. Two research 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, Diamondback Energy currently has an average rating of "Buy" and a consensus target price of $193.35.

Diamondback Energy Price Performance

FANG traded down $1.78 on Tuesday, hitting $140.18. 312,522 shares of the company's stock traded hands, compared to its average volume of 2,504,128. 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 one year low of $114.00 and a one year high of $214.50. The company's 50 day simple moving average is $141.26 and its 200-day simple moving average is $149.35. The firm has a market cap of $40.96 billion, a price-to-earnings ratio of 8.59 and a beta of 1.05.

Diamondback Energy (NASDAQ:FANG - Get Free Report) last released its quarterly earnings data on Monday, May 5th. The oil and natural gas company reported $4.54 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $3.67 by $0.87. The business had revenue of $4.05 billion for the quarter, compared to the consensus estimate of $3.58 billion. Diamondback Energy had a return on equity of 11.22% and a net margin of 30.84%. The company's revenue was up 81.8% compared to the same quarter last year. During the same quarter in the previous year, the company posted $4.50 EPS. As a group, research analysts anticipate that Diamondback Energy, Inc. will post 15.49 EPS for the current year.

Diamondback Energy Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, May 22nd. Stockholders of record on Thursday, May 15th were issued a $1.00 dividend. This represents a $4.00 dividend on an annualized basis and a dividend yield of 2.85%. The ex-dividend date of this dividend was Thursday, May 15th. Diamondback Energy's dividend payout ratio (DPR) is 24.46%.

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.