Diamondback Energy, Inc. (NASDAQ:FANG) Stock Position Lowered by New York State Common Retirement Fund

New York State Common Retirement Fund trimmed its stake in Diamondback Energy, Inc. (NASDAQ:FANG) by 1.4% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 283,521 shares of the oil and natural gas company’s stock after selling 3,946 shares during the quarter. New York State Common Retirement Fund’s holdings in Diamondback Energy were worth $46,449,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. R Squared Ltd acquired a new position in shares of Diamondback Energy in the 4th quarter worth $29,000. UMB Bank n.a. grew its holdings in shares of Diamondback Energy by 247.3% in the 4th quarter. UMB Bank n.a. now owns 191 shares of the oil and natural gas company’s stock worth $31,000 after acquiring an additional 136 shares during the last quarter. Key Financial Inc grew its holdings in shares of Diamondback Energy by 940.0% in the 4th quarter. Key Financial Inc now owns 208 shares of the oil and natural gas company’s stock worth $34,000 after acquiring an additional 188 shares during the last quarter. Values First Advisors Inc. acquired a new position in shares of Diamondback Energy in the 3rd quarter worth $42,000. Finally, Ashton Thomas Securities LLC acquired a new position in shares of Diamondback Energy in the 3rd quarter worth $52,000. 90.01% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on FANG shares. Morgan Stanley lifted their target price on Diamondback Energy from $220.00 to $227.00 and gave the stock an “overweight” rating in a report on Wednesday. Royal Bank of Canada reiterated an “outperform” rating and set a $210.00 price target on shares of Diamondback Energy in a report on Thursday, January 23rd. Benchmark reiterated a “buy” rating and set a $195.00 price target on shares of Diamondback Energy in a report on Tuesday, October 29th. Raymond James lifted their price target on Diamondback Energy from $237.00 to $256.00 and gave the company a “strong-buy” rating in a report on Thursday, January 23rd. Finally, Wells Fargo & Company lifted their price target on Diamondback Energy from $218.00 to $219.00 and gave the company an “overweight” rating in a report on Tuesday, December 17th. Four equities research analysts have rated the stock with a hold rating, eighteen have issued a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat.com, Diamondback Energy currently has a consensus rating of “Moderate Buy” and an average price target of $216.52.

Diamondback Energy Price Performance

Shares of NASDAQ:FANG opened at $160.26 on Thursday. Diamondback Energy, Inc. has a fifty-two week low of $152.00 and a fifty-two week high of $214.50. The business has a 50-day moving average of $165.82 and a two-hundred day moving average of $177.18. The stock has a market capitalization of $46.79 billion, a P/E ratio of 9.17, a P/E/G ratio of 1.22 and a beta of 1.86. The company has a debt-to-equity ratio of 0.31, a current ratio of 0.45 and a quick ratio of 0.42.

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.