National Pension Service raised its stake in Diamondback Energy Inc (NASDAQ:FANG) by 4.7% during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 125,476 shares of the oil and natural gas company’s stock after purchasing an additional 5,625 shares during the period. National Pension Service owned 0.12% of Diamondback Energy worth $13,028,000 as of its most recent SEC filing.
A number of other institutional investors also recently made changes to their positions in FANG. Capital World Investors lifted its holdings in Diamondback Energy by 4.8% in the third quarter. Capital World Investors now owns 11,931,000 shares of the oil and natural gas company’s stock valued at $1,612,952,000 after acquiring an additional 542,279 shares during the period. BlackRock Inc. lifted its holdings in Diamondback Energy by 103.8% in the fourth quarter. BlackRock Inc. now owns 10,172,829 shares of the oil and natural gas company’s stock valued at $943,023,000 after acquiring an additional 5,181,063 shares during the period. Vanguard Group Inc increased its position in shares of Diamondback Energy by 0.3% in the third quarter. Vanguard Group Inc now owns 8,587,857 shares of the oil and natural gas company’s stock valued at $1,160,994,000 after buying an additional 23,673 shares in the last quarter. JPMorgan Chase & Co. increased its position in shares of Diamondback Energy by 15.2% in the third quarter. JPMorgan Chase & Co. now owns 7,478,957 shares of the oil and natural gas company’s stock valued at $1,011,079,000 after buying an additional 984,124 shares in the last quarter. Finally, Boston Partners increased its position in shares of Diamondback Energy by 135.9% in the fourth quarter. Boston Partners now owns 3,424,654 shares of the oil and natural gas company’s stock valued at $317,465,000 after buying an additional 1,973,018 shares in the last quarter.
Shares of NASDAQ FANG traded down $0.96 during midday trading on Friday, hitting $107.28. The stock had a trading volume of 1,480,580 shares, compared to its average volume of 1,723,841. The firm has a market capitalization of $17.63 billion, a P/E ratio of 18.28, a P/E/G ratio of 0.68 and a beta of 0.80. Diamondback Energy Inc has a 1-year low of $85.19 and a 1-year high of $140.78. The company has a debt-to-equity ratio of 0.32, a current ratio of 0.91 and a quick ratio of 0.87.
In other Diamondback Energy news, insider Michael L. Hollis acquired 5,313 shares of the company’s stock in a transaction on Friday, March 8th. The shares were bought at an average cost of $95.12 per share, for a total transaction of $505,372.56. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider Randall J. Holder sold 4,000 shares of Diamondback Energy stock in a transaction that occurred on Monday, March 18th. The stock was sold at an average price of $104.13, for a total value of $416,520.00. Following the sale, the insider now owns 14,448 shares in the company, valued at $1,504,470.24. The disclosure for this sale can be found here. Insiders have sold a total of 6,050 shares of company stock worth $626,158 over the last three months. 0.57% of the stock is currently owned by corporate insiders.
A number of research analysts have recently weighed in on FANG shares. Morgan Stanley raised their price target on Diamondback Energy from $147.00 to $154.00 and gave the company an “overweight” rating in a research report on Thursday, February 21st. Barclays started coverage on Diamondback Energy in a research report on Wednesday, January 16th. They issued an “overweight” rating and a $189.00 price target for the company. ValuEngine upgraded Diamondback Energy from a “sell” rating to a “hold” rating in a research report on Saturday, January 5th. JPMorgan Chase & Co. reiterated an “overweight” rating and set a $148.00 price objective on shares of Diamondback Energy in a research report on Monday, March 11th. Finally, Oppenheimer set a $158.00 price objective on Diamondback Energy and gave the stock a “buy” rating in a research report on Wednesday, January 2nd. One analyst has rated the stock with a sell rating, two have given a hold rating, twenty-five have issued a buy rating and one has issued a strong buy rating to the stock. The company presently has an average rating of “Buy” and an average price target of $159.27.
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About Diamondback Energy
Diamondback Energy, Inc, an independent oil and natural gas company, focuses on the acquisition, development, exploration, and exploitation of unconventional and onshore oil and natural gas reserves in the Permian Basin in West Texas. It primarily 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.
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