Diamondback Energy, Inc. (NASDAQ:FANG) Shares Bought by New Mexico Educational Retirement Board

New Mexico Educational Retirement Board boosted its position in shares of Diamondback Energy, Inc. (NASDAQ:FANG) by 2.3% in the fourth quarter, HoldingsChannel.com reports. The fund owned 8,900 shares of the oil and natural gas company’s stock after acquiring an additional 200 shares during the quarter. New Mexico Educational Retirement Board’s holdings in Diamondback Energy were worth $1,458,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Swedbank AB lifted its holdings in shares of Diamondback Energy by 28.0% in the 4th quarter. Swedbank AB now owns 198,283 shares of the oil and natural gas company’s stock valued at $32,485,000 after buying an additional 43,361 shares during the period. Tokio Marine Asset Management Co. Ltd. lifted its holdings in shares of Diamondback Energy by 631.1% in the 4th quarter. Tokio Marine Asset Management Co. Ltd. now owns 43,148 shares of the oil and natural gas company’s stock valued at $7,069,000 after buying an additional 37,246 shares during the period. Franklin Resources Inc. lifted its holdings in shares of Diamondback Energy by 48.5% in the 3rd quarter. Franklin Resources Inc. now owns 146,870 shares of the oil and natural gas company’s stock valued at $28,008,000 after buying an additional 47,951 shares during the period. Tectonic Advisors LLC lifted its holdings in shares of Diamondback Energy by 38.2% in the 4th quarter. Tectonic Advisors LLC now owns 31,467 shares of the oil and natural gas company’s stock valued at $5,155,000 after buying an additional 8,704 shares during the period. Finally, Benjamin Edwards Inc. lifted its holdings in shares of Diamondback Energy by 368.1% in the 3rd quarter. Benjamin Edwards Inc. now owns 9,784 shares of the oil and natural gas company’s stock valued at $1,687,000 after buying an additional 7,694 shares during the period. Institutional investors and hedge funds own 90.01% of the company’s stock.

Diamondback Energy Price Performance

FANG stock opened at $156.99 on Monday. The company has a debt-to-equity ratio of 0.31, a current ratio of 0.45 and a quick ratio of 0.42. The business has a 50 day simple moving average of $166.15 and a 200-day simple moving average of $177.87. The firm has a market capitalization of $45.84 billion, a PE ratio of 8.99, a price-to-earnings-growth ratio of 1.24 and a beta of 1.86. Diamondback Energy, Inc. has a 1 year low of $152.00 and a 1 year high of $214.50.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on the company. JPMorgan Chase & Co. boosted their price objective on Diamondback Energy from $191.00 to $195.00 and gave the company an “overweight” rating in a report on Friday, January 17th. UBS Group lifted their price target on Diamondback Energy from $212.00 to $216.00 and gave the company a “buy” rating in a research note on Thursday. Piper Sandler cut their price target on Diamondback Energy from $252.00 to $232.00 and set an “overweight” rating for the company in a research note on Tuesday, December 17th. Truist Financial lifted their price target on Diamondback Energy from $230.00 to $236.00 and gave the company a “buy” rating in a research note on Monday, January 13th. Finally, The Goldman Sachs Group began coverage on Diamondback Energy in a research note on Monday, December 2nd. They issued a “buy” rating and a $227.00 price target for the company. Four investment analysts have rated the stock with a hold rating, eighteen have given a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $215.17.

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.