New York State Common Retirement Fund Reduces Holdings in Diamondback Energy, Inc. (NASDAQ:FANG)

New York State Common Retirement Fund lessened its position in shares of Diamondback Energy, Inc. (NASDAQ:FANG - Free Report) by 1.4% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 283,521 shares of the oil and natural gas company's stock after selling 3,946 shares during the period. New York State Common Retirement Fund owned 0.10% of Diamondback Energy worth $46,449,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in FANG. Assenagon Asset Management S.A. lifted its position in shares of Diamondback Energy by 1,153.0% during the 4th quarter. Assenagon Asset Management S.A. now owns 1,132,918 shares of the oil and natural gas company's stock valued at $185,606,000 after buying an additional 1,042,505 shares during the last quarter. Zimmer Partners LP purchased a new position in shares of Diamondback Energy during the 3rd quarter valued at $87,924,000. Holocene Advisors LP lifted its position in shares of Diamondback Energy by 95.3% during the 3rd quarter. Holocene Advisors LP now owns 938,474 shares of the oil and natural gas company's stock valued at $161,793,000 after buying an additional 457,896 shares during the last quarter. Diamond Hill Capital Management Inc. lifted its position in shares of Diamondback Energy by 25.6% during the 3rd quarter. Diamond Hill Capital Management Inc. now owns 2,158,910 shares of the oil and natural gas company's stock valued at $372,196,000 after buying an additional 439,579 shares during the last quarter. Finally, International Assets Investment Management LLC lifted its position in shares of Diamondback Energy by 17,151.2% during the 3rd quarter. International Assets Investment Management LLC now owns 340,021 shares of the oil and natural gas company's stock valued at $58,620,000 after buying an additional 338,050 shares during the last quarter. Hedge funds and other institutional investors own 90.01% of the company's stock.

Diamondback Energy Price Performance

Shares of Diamondback Energy stock traded down $5.97 during trading on Friday, hitting $156.12. 3,935,348 shares of the stock traded hands, compared to its average volume of 1,966,826. The company has a quick ratio of 0.42, a current ratio of 0.45 and a debt-to-equity ratio of 0.31. The stock has a market cap of $45.59 billion, a price-to-earnings ratio of 8.94, a PEG ratio of 1.24 and a beta of 1.86. The firm's fifty day moving average is $165.60 and its 200-day moving average is $176.76. Diamondback Energy, Inc. has a 52 week low of $152.00 and a 52 week high of $214.50.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on the company. Piper Sandler dropped their price target on Diamondback Energy from $252.00 to $232.00 and set an "overweight" rating on the stock in a research report on Tuesday, December 17th. Truist Financial boosted their price objective on Diamondback Energy from $236.00 to $238.00 and gave the company a "buy" rating in a research note on Wednesday. StockNews.com upgraded Diamondback Energy from a "sell" rating to a "hold" rating in a research note on Wednesday, November 13th. Wolfe Research upgraded Diamondback Energy from a "peer perform" rating to an "outperform" rating and set a $190.00 price objective on the stock in a research note on Friday, January 3rd. Finally, 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 research note on Friday, January 17th. Four investment analysts have rated the stock with a hold rating, eighteen have assigned a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $216.52.

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.