Public Employees Retirement System of Ohio Lowers Stock Holdings in Diamondback Energy, Inc. $FANG

Public Employees Retirement System of Ohio lowered its position in shares of Diamondback Energy, Inc. (NASDAQ:FANG) by 3.9% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 92,153 shares of the oil and natural gas company’s stock after selling 3,698 shares during the period. Public Employees Retirement System of Ohio’s holdings in Diamondback Energy were worth $18,227,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Wellington Management Group LLP raised its holdings in shares of Diamondback Energy by 74.1% during the 4th quarter. Wellington Management Group LLP now owns 3,239,837 shares of the oil and natural gas company’s stock valued at $487,045,000 after buying an additional 1,379,010 shares in the last quarter. EnCap Energy Capital Fund XII L.P. purchased a new stake in Diamondback Energy in the fourth quarter worth approximately $169,342,000. Smead Capital Management Inc. bought a new position in Diamondback Energy during the second quarter valued at approximately $144,775,000. Encompass Capital Advisors LLC bought a new position in Diamondback Energy during the fourth quarter valued at approximately $112,198,000. Finally, Capital Research Global Investors grew its position in Diamondback Energy by 14.1% during the fourth quarter. Capital Research Global Investors now owns 4,332,885 shares of the oil and natural gas company’s stock valued at $651,363,000 after acquiring an additional 534,073 shares during the last quarter. 90.01% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other Diamondback Energy news, EVP Matt Zmigrosky sold 5,000 shares of the stock in a transaction on Monday, June 1st. The shares were sold at an average price of $200.54, for a total transaction of $1,002,700.00. Following the completion of the sale, the executive vice president owned 46,392 shares of the company’s stock, valued at $9,303,451.68. This represents a 9.73% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Mark Lawrence Plaumann sold 500 shares of the firm’s stock in a transaction on Tuesday, June 9th. The stock was sold at an average price of $196.50, for a total transaction of $98,250.00. Following the completion of the sale, the director directly owned 13,437 shares in the company, valued at approximately $2,640,370.50. This trade represents a 3.59% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders sold 113,691 shares of company stock worth $21,622,752. 0.64% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on FANG shares. Mizuho boosted their price objective on shares of Diamondback Energy from $220.00 to $240.00 and gave the stock an “outperform” rating in a report on Wednesday, May 27th. Scotiabank upped their price objective on shares of Diamondback Energy from $175.00 to $195.00 and gave the company a “sector outperform” rating in a research note on Wednesday, April 22nd. Citigroup reduced their target price on shares of Diamondback Energy from $245.00 to $221.00 and set a “buy” rating on the stock in a report on Monday, July 20th. Weiss Ratings cut shares of Diamondback Energy from a “hold (c)” rating to a “hold (c-)” rating in a research report on Thursday, July 16th. Finally, UBS Group lowered their price target on shares of Diamondback Energy from $246.00 to $243.00 and set a “buy” rating for the company in a research note on Tuesday. Four analysts have rated the stock with a Strong Buy rating, seventeen have given a Buy rating and four have issued a Hold rating to the stock. According to MarketBeat, Diamondback Energy currently has an average rating of “Buy” and an average target price of $218.68.

Diamondback Energy Stock Performance

Shares of FANG stock opened at $204.68 on Friday. The company has a debt-to-equity ratio of 0.31, a quick ratio of 0.55 and a current ratio of 0.56. Diamondback Energy, Inc. has a fifty-two week low of $134.30 and a fifty-two week high of $214.51. The stock has a 50 day moving average price of $191.42 and a two-hundred day moving average price of $182.57. The company has a market capitalization of $57.58 billion, a P/E ratio of 238.00 and a beta of 0.42.

Diamondback Energy (NASDAQ:FANG) last released its quarterly earnings data on Monday, May 4th. The oil and natural gas company reported $4.23 earnings per share for the quarter, beating analysts’ consensus estimates of $3.74 by $0.49. Diamondback Energy had a return on equity of 7.76% and a net margin of 1.87%.The firm had revenue of $4.24 billion during the quarter, compared to analyst estimates of $3.83 billion. During the same quarter in the prior year, the firm posted $4.54 earnings per share. The business’s quarterly revenue was up 4.7% compared to the same quarter last year. Analysts expect that Diamondback Energy, Inc. will post 18.9 earnings per share for the current year.

Diamondback Energy Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, May 21st. Investors of record on Thursday, May 14th were issued a dividend of $1.10 per share. The ex-dividend date was Thursday, May 14th. This represents a $4.40 dividend on an annualized basis and a yield of 2.1%. This is an increase from Diamondback Energy’s previous quarterly dividend of $1.05. Diamondback Energy’s dividend payout ratio (DPR) is currently 511.63%.

Diamondback Energy 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.