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

Kentucky Retirement Systems lifted its position in Diamondback Energy, Inc. (NASDAQ:FANG) by 3.6% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm 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 at the end of the most recent reporting period.

Other hedge funds have also recently modified their holdings of the company. R Squared Ltd purchased a new stake in shares of Diamondback Energy in the fourth quarter valued at about $29,000. UMB Bank n.a. lifted its position in Diamondback Energy by 247.3% in 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 buying an additional 136 shares during the last quarter. Key Financial Inc lifted its position in Diamondback Energy by 940.0% in the fourth quarter. Key Financial Inc now owns 208 shares of the oil and natural gas company’s stock valued at $34,000 after buying an additional 188 shares during the last quarter. Values First Advisors Inc. acquired a new position in Diamondback Energy in the third quarter valued at about $42,000. Finally, Ashton Thomas Securities LLC acquired a new position in Diamondback Energy in the third quarter valued at about $52,000. Hedge funds and other institutional investors own 90.01% of the company’s stock.

Analyst Ratings Changes

A number of research firms have commented on FANG. UBS Group upped their target price on shares of Diamondback Energy from $212.00 to $216.00 and gave the company a “buy” rating in a research report on Thursday, February 13th. Wells Fargo & Company upped 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. Morgan Stanley increased their price target on shares of Diamondback Energy from $220.00 to $227.00 and gave the stock an “overweight” rating in a research report on Wednesday. Royal Bank of Canada reissued an “outperform” rating and set a $210.00 price target on shares of Diamondback Energy in a research report on Thursday, January 23rd. Finally, Benchmark reissued a “buy” rating and set 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 given a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $216.22.

Diamondback Energy Stock Performance

Shares of Diamondback Energy stock opened at $156.12 on Friday. The firm has a market capitalization of $45.59 billion, a P/E ratio of 8.94, a P/E/G ratio of 1.24 and a beta of 1.86. Diamondback Energy, Inc. has a 52 week low of $152.00 and a 52 week high of $214.50. 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 firm’s 50 day moving average is $165.60 and its two-hundred day moving average is $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.