Louisiana State Employees Retirement System Has $5.14 Million Stock Position in Diamondback Energy, Inc. (NASDAQ:FANG)

Louisiana State Employees Retirement System raised its position in Diamondback Energy, Inc. (NASDAQ:FANG) by 29.8% during the fourth quarter, Holdings Channel reports. The firm owned 31,400 shares of the oil and natural gas company’s stock after purchasing an additional 7,200 shares during the period. Louisiana State Employees Retirement System’s holdings in Diamondback Energy were worth $5,144,000 at the end of the most recent quarter.

Other hedge funds have also bought and sold shares of the company. R Squared Ltd acquired a new stake in Diamondback Energy during the 4th quarter worth about $29,000. UMB Bank n.a. grew its stake 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 worth $31,000 after purchasing an additional 136 shares during the period. Values First Advisors Inc. bought a new stake in Diamondback Energy in the third quarter worth approximately $42,000. Ashton Thomas Securities LLC acquired a new position in Diamondback Energy in the third quarter valued at approximately $52,000. Finally, Synergy Asset Management LLC acquired a new stake in shares of Diamondback Energy during the 4th quarter worth approximately $67,000. Institutional investors own 90.01% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on the stock. Truist Financial lifted their price target on shares of Diamondback Energy from $230.00 to $236.00 and gave the company a “buy” rating in a research note on Monday, January 13th. UBS Group lowered their price objective on shares of Diamondback Energy from $235.00 to $212.00 and set a “buy” rating on the stock in a report on Monday, December 9th. StockNews.com raised shares of Diamondback Energy from a “sell” rating to a “hold” rating in a research note on Wednesday, November 13th. Royal Bank of Canada restated an “outperform” rating and issued a $210.00 target price on shares of Diamondback Energy in a report on Thursday, January 23rd. Finally, Benchmark reaffirmed a “buy” rating and issued a $195.00 price target on shares of Diamondback Energy in a research report on Tuesday, October 29th. Four 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 MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $215.00.

Diamondback Energy Stock Down 4.0 %

FANG stock opened at $155.46 on Thursday. Diamondback Energy, Inc. has a fifty-two week low of $152.00 and a fifty-two week high of $214.50. The stock has a fifty day moving average of $166.98 and a 200-day moving average of $178.62. The company has a market capitalization of $45.39 billion, a price-to-earnings ratio of 8.90, a PEG ratio of 1.24 and a beta of 1.86. The company has a debt-to-equity ratio of 0.31, a quick ratio of 0.42 and a current ratio of 0.45.

Diamondback Energy Company 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.