Truist Financial Corp Raises Stock Holdings in Diamondback Energy, Inc. (NASDAQ:FANG)

Truist Financial Corp raised its position in Diamondback Energy, Inc. (NASDAQ:FANG) by 8.3% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 581,472 shares of the oil and natural gas company’s stock after buying an additional 44,663 shares during the quarter. Truist Financial Corp’s holdings in Diamondback Energy were worth $95,263,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in FANG. Exchange Traded Concepts LLC purchased a new stake in shares of Diamondback Energy during the third quarter worth approximately $87,000. Creative Planning raised its stake in shares of Diamondback Energy by 3.0% during the third quarter. Creative Planning now owns 34,391 shares of the oil and natural gas company’s stock worth $5,929,000 after purchasing an additional 1,004 shares during the last quarter. Global Retirement Partners LLC raised its stake in shares of Diamondback Energy by 44.1% during the third quarter. Global Retirement Partners LLC now owns 4,003 shares of the oil and natural gas company’s stock worth $690,000 after purchasing an additional 1,225 shares during the last quarter. Bleakley Financial Group LLC raised its stake in shares of Diamondback Energy by 10.7% during the third quarter. Bleakley Financial Group LLC now owns 4,405 shares of the oil and natural gas company’s stock worth $759,000 after purchasing an additional 427 shares during the last quarter. Finally, Sumitomo Mitsui DS Asset Management Company Ltd raised its stake in shares of Diamondback Energy by 2.9% during the third quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 18,467 shares of the oil and natural gas company’s stock worth $3,184,000 after purchasing an additional 513 shares during the last quarter. Hedge funds and other institutional investors own 90.01% of the company’s stock.

Diamondback Energy Trading Up 0.5 %

Shares of FANG stock opened at $156.99 on Monday. The firm has a 50-day moving average price of $166.15 and a 200 day moving average price of $177.70. Diamondback Energy, Inc. has a twelve month low of $152.00 and a twelve month high of $214.50. The company has a market capitalization of $45.84 billion, a price-to-earnings ratio of 8.99, a PEG ratio of 1.24 and a beta of 1.86. The company has a current ratio of 0.45, a quick ratio of 0.42 and a debt-to-equity ratio of 0.31.

Analyst Ratings Changes

Several equities research analysts have recently commented on FANG shares. StockNews.com upgraded Diamondback Energy from a “sell” rating to a “hold” rating in a research note on Wednesday, November 13th. Benchmark restated a “buy” rating and set a $195.00 price target on shares of Diamondback Energy in a research note on Tuesday, October 29th. Truist Financial increased their price objective on Diamondback Energy from $230.00 to $236.00 and gave the stock a “buy” rating in a research report on Monday, January 13th. Mizuho cut their price objective on Diamondback Energy from $219.00 to $207.00 and set an “outperform” rating for the company in a research report on Monday, December 16th. Finally, Wolfe Research upgraded Diamondback Energy from a “peer perform” rating to an “outperform” rating and set a $190.00 price objective for the company in a research report on Friday, January 3rd. Four research analysts have rated the stock with a hold rating, eighteen have assigned a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat, Diamondback Energy presently has a consensus rating of “Moderate Buy” and a consensus price target of $215.17.

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.