Diamondback Energy, Inc. (NASDAQ:FANG) Shares Sold by Manchester Capital Management LLC

Manchester Capital Management LLC lessened its holdings in shares of Diamondback Energy, Inc. (NASDAQ:FANG) by 49.4% in the fourth quarter, according to its most recent filing with the SEC. The firm owned 728 shares of the oil and natural gas company’s stock after selling 710 shares during the quarter. Manchester Capital Management LLC’s holdings in Diamondback Energy were worth $119,000 as of its most recent SEC filing.

A number of other institutional investors also recently added to or reduced their stakes in the business. Nations Financial Group Inc. IA ADV boosted its position in Diamondback Energy by 3.7% during the 4th quarter. Nations Financial Group Inc. IA ADV now owns 8,859 shares of the oil and natural gas company’s stock worth $1,451,000 after acquiring an additional 319 shares during the period. Rhumbline Advisers raised its position in shares of Diamondback Energy by 1.8% during the fourth quarter. Rhumbline Advisers now owns 341,231 shares of the oil and natural gas company’s stock worth $55,904,000 after purchasing an additional 5,882 shares during the period. New Mexico Educational Retirement Board raised its position in shares of Diamondback Energy by 2.3% during the fourth quarter. New Mexico Educational Retirement Board now owns 8,900 shares of the oil and natural gas company’s stock worth $1,458,000 after purchasing an additional 200 shares during the period. GFG Capital LLC acquired a new stake in shares of Diamondback Energy during the fourth quarter worth $524,000. Finally, V Square Quantitative Management LLC raised its position in shares of Diamondback Energy by 24.9% during the fourth quarter. V Square Quantitative Management LLC now owns 2,375 shares of the oil and natural gas company’s stock worth $389,000 after purchasing an additional 474 shares during the period. Institutional investors and hedge funds own 90.01% of the company’s stock.

Diamondback Energy Trading Up 0.5 %

Diamondback Energy stock opened at $156.99 on Friday. The business has a 50 day moving average price of $166.15 and a two-hundred day moving average price of $178.01. 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 stock has a market cap of $45.84 billion, a price-to-earnings ratio of 8.99, a price-to-earnings-growth ratio of 1.24 and a beta of 1.86. Diamondback Energy, Inc. has a 12 month low of $152.00 and a 12 month high of $214.50.

Analysts Set New Price Targets

Several research firms recently weighed in on FANG. Wells Fargo & Company upped their price target on 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 upped their price target on Diamondback Energy from $237.00 to $256.00 and gave the stock a “strong-buy” rating in a research note on Thursday, January 23rd. 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 research note on Tuesday, December 17th. Benchmark reiterated a “buy” rating and set a $195.00 price target on shares of Diamondback Energy in a research note on Tuesday, October 29th. Finally, UBS Group upped their price target on Diamondback Energy from $212.00 to $216.00 and gave the stock a “buy” rating in a research note on Thursday. Four research analysts have rated the stock with a hold rating, eighteen have issued a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $215.17.

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.