Diamondback Energy, Inc. (NASDAQ:FANG) Shares Acquired by State of New Jersey Common Pension Fund D

State of New Jersey Common Pension Fund D grew its stake in Diamondback Energy, Inc. (NASDAQ:FANG - Free Report) by 8.9% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 67,758 shares of the oil and natural gas company's stock after acquiring an additional 5,555 shares during the period. State of New Jersey Common Pension Fund D's holdings in Diamondback Energy were worth $11,101,000 at the end of the most recent reporting period.

A number of other hedge funds have also added to or reduced their stakes in the stock. R Squared Ltd bought a new position in shares of Diamondback Energy during the fourth quarter valued at approximately $29,000. UMB Bank n.a. lifted its position in Diamondback Energy by 247.3% during the fourth quarter. UMB Bank n.a. now owns 191 shares of the oil and natural gas company's stock valued at $31,000 after acquiring an additional 136 shares during the last quarter. Values First Advisors Inc. purchased a new stake in Diamondback Energy during the third quarter valued at approximately $42,000. Ashton Thomas Securities LLC purchased a new stake in Diamondback Energy during the third quarter valued at approximately $52,000. Finally, Synergy Asset Management LLC purchased a new stake in Diamondback Energy during the fourth quarter valued at approximately $67,000. 90.01% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of equities research analysts recently commented on the stock. The Goldman Sachs Group assumed coverage on shares of Diamondback Energy in a research report on Monday, December 2nd. They set a "buy" rating and a $227.00 target price for the company. Wells Fargo & Company increased their target price on shares of Diamondback Energy from $218.00 to $219.00 and gave the company an "overweight" rating in a research report on Tuesday, December 17th. Raymond James increased their target price on shares of Diamondback Energy from $237.00 to $256.00 and gave the company a "strong-buy" rating in a research report on Thursday, January 23rd. UBS Group raised their price target on shares of Diamondback Energy from $212.00 to $216.00 and gave the stock a "buy" rating in a report on Thursday, February 13th. Finally, Piper Sandler decreased their price target on shares of Diamondback Energy from $252.00 to $232.00 and set an "overweight" rating for the company in a report on Tuesday, December 17th. Four investment analysts have rated the stock with a hold rating, eighteen have issued a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat, Diamondback Energy has a consensus rating of "Moderate Buy" and a consensus price target of $216.52.

Diamondback Energy Stock Performance

FANG stock traded down $5.97 during midday trading on Friday, hitting $156.12. 3,935,348 shares of the stock traded hands, compared to its average volume of 2,088,174. The firm has a market cap of $45.59 billion, a P/E ratio of 8.94, a PEG 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. The stock's fifty day simple moving average is $165.74 and its 200-day simple moving average is $176.96. Diamondback Energy, Inc. has a 1-year low of $152.00 and a 1-year high of $214.50.

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.