National Pension Service Acquires 23,225 Shares of Diamondback Energy, Inc. (NASDAQ:FANG)

National Pension Service raised its holdings in Diamondback Energy, Inc. (NASDAQ:FANG) by 9.0% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 279,894 shares of the oil and natural gas company’s stock after acquiring an additional 23,225 shares during the period. National Pension Service owned about 0.16% of Diamondback Energy worth $48,254,000 at the end of the most recent quarter.

Several other institutional investors have also recently bought and sold shares of FANG. First Community Trust NA acquired a new position in Diamondback Energy during the 2nd quarter worth approximately $26,000. Carolinas Wealth Consulting LLC grew its stake in shares of Diamondback Energy by 67.1% during the second quarter. Carolinas Wealth Consulting LLC now owns 137 shares of the oil and natural gas company’s stock worth $27,000 after buying an additional 55 shares during the last quarter. HHM Wealth Advisors LLC acquired a new position in shares of Diamondback Energy during the second quarter worth $40,000. Values First Advisors Inc. bought a new position in shares of Diamondback Energy in the 3rd quarter valued at $42,000. Finally, Founders Capital Management lifted its stake in shares of Diamondback Energy by 99.2% in the 2nd quarter. Founders Capital Management now owns 251 shares of the oil and natural gas company’s stock valued at $50,000 after acquiring an additional 125 shares during the last quarter. Institutional investors and hedge funds own 90.01% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have commented on the company. StockNews.com downgraded Diamondback Energy from a “hold” rating to a “sell” rating in a research report on Tuesday. Royal Bank of Canada reiterated an “outperform” rating and issued a $220.00 price objective on shares of Diamondback Energy in a report on Tuesday, September 17th. Piper Sandler lifted their target price on shares of Diamondback Energy from $240.00 to $252.00 and gave the stock an “overweight” rating in a research report on Tuesday, October 15th. KeyCorp decreased their price target on shares of Diamondback Energy from $225.00 to $216.00 and set an “overweight” rating for the company in a research report on Wednesday, October 16th. Finally, JPMorgan Chase & Co. began coverage on shares of Diamondback Energy in a report on Wednesday, October 2nd. They set an “overweight” rating and a $182.00 price target on the stock. Two analysts have rated the stock with a sell rating, four have given a hold rating, seventeen have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $210.09.

Insider Activity

In related news, major shareholder Lyndal Greth sold 13,212,830 shares of the firm’s stock in a transaction that occurred on Monday, September 23rd. The stock was sold at an average price of $175.11, for a total transaction of $2,313,698,661.30. Following the completion of the transaction, the insider now owns 1,037,819 shares of the company’s stock, valued at $181,732,485.09. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 0.48% of the company’s stock.

Diamondback Energy Price Performance

Shares of FANG stock opened at $175.63 on Wednesday. The business’s fifty day moving average is $182.56 and its 200 day moving average is $192.61. The company has a quick ratio of 3.64, a current ratio of 3.66 and a debt-to-equity ratio of 0.65. The stock has a market cap of $51.77 billion, a price-to-earnings ratio of 9.08, a PEG ratio of 1.23 and a beta of 1.89. Diamondback Energy, Inc. has a twelve month low of $145.70 and a twelve month high of $214.50.

Diamondback Energy (NASDAQ:FANG) last issued its quarterly earnings results on Monday, November 4th. The oil and natural gas company reported $3.38 earnings per share (EPS) for the quarter, missing the consensus estimate of $4.62 by ($1.24). Diamondback Energy had a return on equity of 19.54% and a net margin of 37.51%. The business had revenue of $2.65 billion during the quarter, compared to the consensus estimate of $2.43 billion. During the same quarter in the previous year, the business earned $5.49 earnings per share. The firm’s revenue was up 13.0% compared to the same quarter last year. Research analysts expect that Diamondback Energy, Inc. will post 17.1 EPS for the current fiscal year.

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.