Police & Firemen s Retirement System of New Jersey Grows Stock Position in Diamondback Energy, Inc. $FANG

Police & Firemen s Retirement System of New Jersey raised its position in Diamondback Energy, Inc. (NASDAQ:FANG) by 4.9% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 28,748 shares of the oil and natural gas company’s stock after buying an additional 1,332 shares during the quarter. Police & Firemen s Retirement System of New Jersey’s holdings in Diamondback Energy were worth $3,950,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in FANG. Geode Capital Management LLC raised its stake in Diamondback Energy by 2.7% in the 2nd quarter. Geode Capital Management LLC now owns 5,441,649 shares of the oil and natural gas company’s stock valued at $746,526,000 after acquiring an additional 142,649 shares during the period. ABC Arbitrage SA purchased a new position in shares of Diamondback Energy in the second quarter worth about $317,000. PNC Financial Services Group Inc. increased its stake in shares of Diamondback Energy by 13.6% in the second quarter. PNC Financial Services Group Inc. now owns 53,795 shares of the oil and natural gas company’s stock worth $7,391,000 after purchasing an additional 6,420 shares in the last quarter. Wealth Quarterback LLC bought a new stake in shares of Diamondback Energy in the second quarter valued at approximately $322,000. Finally, SBI Securities Co. Ltd. lifted its stake in shares of Diamondback Energy by 3,330.4% during the 2nd quarter. SBI Securities Co. Ltd. now owns 73,136 shares of the oil and natural gas company’s stock valued at $10,049,000 after buying an additional 71,004 shares in the last quarter. Institutional investors own 90.01% of the company’s stock.

Diamondback Energy Trading Up 3.3%

Shares of FANG stock opened at $149.20 on Monday. The company has a market capitalization of $42.75 billion, a PE ratio of 10.37 and a beta of 0.99. Diamondback Energy, Inc. has a 52-week low of $114.00 and a 52-week high of $186.07. The business’s fifty day moving average is $142.52 and its 200 day moving average is $142.15. The company has a debt-to-equity ratio of 0.35, a quick ratio of 0.60 and a current ratio of 0.62.

Diamondback Energy (NASDAQ:FANG) last announced its earnings results on Monday, November 3rd. The oil and natural gas company reported $3.08 earnings per share for the quarter, topping analysts’ consensus estimates of $2.94 by $0.14. Diamondback Energy had a return on equity of 9.57% and a net margin of 27.32%.The business had revenue of $3.92 billion for the quarter, compared to analyst estimates of $3.48 billion. During the same period in the prior year, the company earned $3.19 EPS. The company’s quarterly revenue was up 48.4% compared to the same quarter last year. On average, equities research analysts anticipate that Diamondback Energy, Inc. will post 15.49 EPS for the current fiscal year.

Diamondback Energy Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, November 20th. Investors of record on Thursday, November 13th will be paid 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 is Thursday, November 13th. Diamondback Energy’s dividend payout ratio (DPR) is currently 27.80%.

Analyst Upgrades and Downgrades

Several research analysts recently commented on FANG shares. Melius Research began coverage on shares of Diamondback Energy in a report on Wednesday, August 20th. They issued a “buy” rating and a $213.00 price objective for the company. Wells Fargo & Company cut their price target on Diamondback Energy from $211.00 to $160.00 and set an “overweight” rating for the company in a report on Friday, October 17th. KeyCorp reduced their price target on Diamondback Energy from $180.00 to $176.00 and set an “overweight” rating for the company in a research report on Wednesday, September 3rd. Melius initiated coverage on Diamondback Energy in a research note on Wednesday, August 20th. They set a “buy” rating and a $213.00 price objective on the stock. Finally, Roth Capital set a $162.00 target price on Diamondback Energy and gave the stock a “buy” rating in a research note on Tuesday, November 4th. Two investment analysts have rated the stock with a Strong Buy rating, twenty have given a Buy rating and one has assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, Diamondback Energy presently has an average rating of “Buy” and a consensus target price of $188.55.

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.