Texas Permanent School Fund Corp reduced its holdings in Diamondback Energy, Inc. (NASDAQ:FANG – Free Report) by 2.7% in the 3rd quarter, Holdings Channel reports. The fund owned 36,951 shares of the oil and natural gas company’s stock after selling 1,026 shares during the quarter. Texas Permanent School Fund Corp’s holdings in Diamondback Energy were worth $5,723,000 at the end of the most recent quarter.
Several other institutional investors have also modified their holdings of the business. State Street Corp raised its position in Diamondback Energy by 1.0% in the 1st quarter. State Street Corp now owns 11,656,848 shares of the oil and natural gas company’s stock valued at $1,575,653,000 after buying an additional 112,297 shares during the last quarter. Geode Capital Management LLC increased its position in shares of Diamondback Energy by 1.2% in the second quarter. Geode Capital Management LLC now owns 3,968,392 shares of the oil and natural gas company’s stock valued at $519,995,000 after acquiring an additional 48,467 shares during the last quarter. Morgan Stanley raised its holdings in Diamondback Energy by 2.5% during the fourth quarter. Morgan Stanley now owns 3,572,083 shares of the oil and natural gas company’s stock worth $488,590,000 after acquiring an additional 85,618 shares in the last quarter. Massachusetts Financial Services Co. MA increased its position in shares of Diamondback Energy by 39.9% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 3,007,599 shares of the oil and natural gas company’s stock worth $465,817,000 after purchasing an additional 858,446 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. raised its stake in shares of Diamondback Energy by 20.8% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 1,558,764 shares of the oil and natural gas company’s stock worth $213,676,000 after purchasing an additional 268,264 shares in the last quarter. Institutional investors own 87.84% of the company’s stock.
Analyst Upgrades and Downgrades
Several equities analysts recently weighed in on the stock. Truist Financial raised their target price on shares of Diamondback Energy from $215.00 to $225.00 and gave the company a “buy” rating in a research note on Wednesday, November 8th. UBS Group dropped their target price on shares of Diamondback Energy from $198.00 to $183.00 and set a “buy” rating on the stock in a report on Thursday, December 14th. Mizuho reduced their price target on Diamondback Energy from $178.00 to $177.00 and set a “buy” rating for the company in a report on Friday, January 12th. Morgan Stanley reduced their target price on Diamondback Energy from $171.00 to $169.00 and set an “overweight” rating for the company in a research note on Tuesday, October 17th. Finally, Bank Of America (Bofa) dropped their price target on Diamondback Energy from $147.00 to $129.00 and set an “underperform” rating on the stock in a research note on Thursday, January 18th. One analyst has rated the stock with a sell rating, two have assigned a hold rating, thirteen have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $176.12.
Diamondback Energy Price Performance
Diamondback Energy stock opened at $151.74 on Monday. The firm has a market cap of $27.16 billion, a PE ratio of 8.61, a price-to-earnings-growth ratio of 0.37 and a beta of 1.89. The company has a debt-to-equity ratio of 0.37, a current ratio of 0.89 and a quick ratio of 0.86. The stock’s fifty day moving average price is $153.32 and its two-hundred day moving average price is $154.21. Diamondback Energy, Inc. has a one year low of $119.01 and a one year high of $171.40.
Diamondback Energy Profile
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 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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