Kestra Private Wealth Services LLC Has $1.51 Million Position in Diamondback Energy, Inc. (NASDAQ:FANG)

Kestra Private Wealth Services LLC cut its position in shares of Diamondback Energy, Inc. (NASDAQ:FANG) by 5.9% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 9,198 shares of the oil and natural gas company’s stock after selling 575 shares during the quarter. Kestra Private Wealth Services LLC’s holdings in Diamondback Energy were worth $1,507,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Assenagon Asset Management S.A. grew 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 worth $185,606,000 after buying an additional 1,042,505 shares during the period. Zimmer Partners LP acquired a new stake in Diamondback Energy during the 3rd quarter worth approximately $87,924,000. Holocene Advisors LP increased its holdings in 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 worth $161,793,000 after purchasing an additional 457,896 shares in the last quarter. Diamond Hill Capital Management Inc. raised its position in Diamondback Energy by 25.6% in 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% in the third quarter. International Assets Investment Management LLC now owns 340,021 shares of the oil and natural gas company’s stock worth $58,620,000 after purchasing an additional 338,050 shares in the last quarter. 90.01% of the stock is currently owned by institutional investors.

Diamondback Energy Trading Down 4.0 %

Shares of FANG stock opened at $155.46 on Thursday. Diamondback Energy, Inc. has a 1 year low of $152.00 and a 1 year high of $214.50. The company’s fifty day simple moving average is $166.98 and its two-hundred day simple moving average is $178.62. 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 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.

Analysts Set New Price Targets

FANG has been the subject of a number of recent analyst reports. KeyCorp cut their price target on shares of Diamondback Energy from $225.00 to $216.00 and set an “overweight” rating for the company in a research note on Wednesday, October 16th. Wolfe Research raised shares of Diamondback Energy from a “peer perform” rating to an “outperform” rating and set a $190.00 price objective for the company in a research note on Friday, January 3rd. Mizuho cut their target price on Diamondback Energy from $219.00 to $207.00 and set an “outperform” rating on the stock in a report on Monday, December 16th. Benchmark reissued a “buy” rating and issued a $195.00 price objective on shares of Diamondback Energy in a research note on Tuesday, October 29th. Finally, StockNews.com upgraded shares of Diamondback Energy from a “sell” rating to a “hold” rating in a report on Wednesday, November 13th. 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 company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $215.00.

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.