Kentucky Retirement Systems Increases Stock Position in Diamondback Energy, Inc. (NASDAQ:FANG)

Kentucky Retirement Systems lifted its holdings in shares of Diamondback Energy, Inc. (NASDAQ:FANG) by 3.6% during the fourth quarter, HoldingsChannel.com reports. The fund owned 12,875 shares of the oil and natural gas company’s stock after purchasing an additional 447 shares during the quarter. Kentucky Retirement Systems’ holdings in Diamondback Energy were worth $2,109,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also modified their holdings of the company. Swedbank AB grew its position in shares of Diamondback Energy by 28.0% during the fourth quarter. Swedbank AB now owns 198,283 shares of the oil and natural gas company’s stock worth $32,485,000 after acquiring an additional 43,361 shares during the last quarter. Tokio Marine Asset Management Co. Ltd. grew its position in shares of Diamondback Energy by 631.1% during the fourth quarter. Tokio Marine Asset Management Co. Ltd. now owns 43,148 shares of the oil and natural gas company’s stock worth $7,069,000 after acquiring an additional 37,246 shares during the last quarter. Franklin Resources Inc. grew its position in shares of Diamondback Energy by 48.5% during the third quarter. Franklin Resources Inc. now owns 146,870 shares of the oil and natural gas company’s stock worth $28,008,000 after acquiring an additional 47,951 shares during the last quarter. Tectonic Advisors LLC grew its position in shares of Diamondback Energy by 38.2% during the fourth quarter. Tectonic Advisors LLC now owns 31,467 shares of the oil and natural gas company’s stock worth $5,155,000 after acquiring an additional 8,704 shares during the last quarter. Finally, Benjamin Edwards Inc. grew its position in shares of Diamondback Energy by 368.1% during the third quarter. Benjamin Edwards Inc. now owns 9,784 shares of the oil and natural gas company’s stock worth $1,687,000 after acquiring an additional 7,694 shares during the last quarter. 90.01% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

FANG has been the subject of several recent research reports. Benchmark reaffirmed a “buy” rating and set a $195.00 price target on shares of Diamondback Energy in a report on Tuesday, October 29th. Mizuho decreased their price target on Diamondback Energy from $219.00 to $207.00 and set an “outperform” rating for the company in a report on Monday, December 16th. JPMorgan Chase & Co. increased their price target on Diamondback Energy from $191.00 to $195.00 and gave the stock an “overweight” rating in a report on Friday, January 17th. Piper Sandler decreased their price target on Diamondback Energy from $252.00 to $232.00 and set an “overweight” rating for the company in a report on Tuesday, December 17th. Finally, Wells Fargo & Company increased their price target on Diamondback Energy from $218.00 to $219.00 and gave the stock an “overweight” rating in a report on Tuesday, December 17th. Four research 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 stock. According to data from MarketBeat, Diamondback Energy currently has an average rating of “Moderate Buy” and an average target price of $216.22.

Diamondback Energy Trading Down 3.7 %

NASDAQ:FANG opened at $156.12 on Friday. The company has a market capitalization of $45.59 billion, a PE ratio of 8.94, a price-to-earnings-growth ratio of 1.24 and a beta of 1.86. The company has a quick ratio of 0.42, a current ratio of 0.45 and a debt-to-equity ratio of 0.31. Diamondback Energy, Inc. has a 52-week low of $152.00 and a 52-week high of $214.50. The stock has a fifty day simple moving average of $165.60 and a 200-day simple moving average of $176.76.

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.